Pepper Futures Make Good Recovery On The NCDEX : August 31, 2010

Pepper futures are trading high on Tuesday after declining for the last couple of days. The commodity started showing sign of recovery in the late trades of previous session; the prices come back to its regular range due to higher domestic demand on the back of festival season, especially in North India.

The contract for September delivery was trading at Rs 20337.00, up by 0.48% or Rs 97 from its previous closing of Rs 20240.00. The open interest of the contract stood at 12353 lots.

The contract for October delivery was trading at Rs 20538.00, up by 0.60% or Rs 123 from its previous closing of Rs 20415.00. The open interest of the contract stood at 3962 lots on NCDEX.

Pepper Futures Continue Their Declining Trend : August 30, 2010

Pepper futures have continued their decline in new week as well, the profit booking that started in previous week is sustaining with extended selling pressure. The Indian pepper is suffering from the lull in the export markets and on the same time steady spot market activity in absences of any fresh market news too catalyzing the sentiments.

The contract for September delivery was trading at Rs 20002.00, down by 0.58% or Rs 116 from its previous closing of Rs 20118.00. The open interest of the contract stood at 12360 lots.

The contract for October delivery was trading at Rs 20191.00, down by 0.47% or Rs 95 from its previous closing of Rs 20286.00. The open interest of the contract stood at 3669 lots on NCDEX.

Crude Makes It A Third Straight Day Of Gain : August 28, 2010

Crude prices made it a third straight day of gains on Friday on getting better than expected GDP data, it was a volatile session for the crude after government reported the economy grew at a lower rate than previously estimated, but stood better than the economists estimate and the crude prices bounced back. Short covering, ahead of the weekend with three tropical systems churning in the Atlantic Ocean also helped the prices move higher.

Benchmark crude for October delivery rose $1.81, or 2.47 percent to settle at $75.17 a barrel, after trading in a range of $72.04 to $75.54 on the New York Mercantile Exchange. In London October Brent crude rose $1.02 to $76.04 a barrel on the ICE.

US Copper Futures Reached Its Highest Levels : August 27, 2010

The US copper futures reached its highest levels in the week on Thursday as the investor sentiments remained optimistic after the US reported a decline in Jobless claims by 31,000 to reach at 4,73,000. The rise in red metal prices got the support of improved demand prospects followed by decline in worries over double-dip recession with the decline in jobless claim.

Copper futures for September delivery soared 2.91% to reach $ 3.30 per lb, after trading in the range of $3.29 to $3.31, on the Comex metals division of the New York Mercantile Exchange. Copper for three-months delivery on the London Metal Exchange closed at $7,304.5 per tonne after adding $203.5.

Physical Rubber Prices Improved Further On Wednesday : August 26, 2010

Physical rubber prices improved further on Wednesday on news that the Commerce and Industry Minister has ruled out any cut in import duty of rubber from the present 20 per cent. However, he said that the Government would be implementing the recommendations of the expert panel constituted under the directive of the Delhi High Court to look into the demands raised in a petition by rubber consuming organisations.

Spot price for RSS-4 variety closed at Rs 173.50 compared to its previous closing of Rs 173 while the RSS-5 variety closed at Rs 164 compared to its previous closing of Rs 163.50.

In the futures market the contract for September delivery for RSS-4 closed at Rs 172.53 compared to its previous closing of Rs 172.24 while the contract for October delivery closed at Rs 166.55 compared to its previous closing of Rs 167.10 on National Multi Commodity Exchange.

Gold Prices Surged : August 25, 2010

Gold prices surged on Tuesday as investors sought safe haven on getting a weaker-than-expected US previously owned home sales data, which raised worries of double-dip recession. Traders are of the view that the yellow metal may rise higher if it breaks the current level and if the trend remains the same.

Gold future for December delivery settled up $4.90 at $1,233.40 an ounce, after trading in a range of $1,211.70 to $1,237.50 an ounce on the Comex division of the New York Mercantile Exchange. Spot gold last traded at $1,229.60 an ounce, versus the previous session’s late quote at $1,223.40 an ounce.

Physical Rubber Continued To Decline On Saturday : August 23, 2010

Physical rubber continued its weakness on Saturday, though the futures improved the mood remained mixed for the rubber as there was not much trading activity in the spot markets and the markets appeared to be in a holiday mood prior to Onam.

Spot price for RSS-4 variety closed at Rs 170 compared to its previous closing of Rs 171 while RSS-5 variety closed at Rs 161 compared to its previous closing of Rs 162.

In the futures market the contract for September delivery for RSS 4 improved to Rs 168.20 compared to its previous closing of Rs 167.24 while the contract for October delivery closed at Rs 164.14 compared to its previous closing of Rs 163.19 on the National Multi Commodity Exchange.

Crude Price Continued Their Decline : August 21, 2010

Crude price continued their decline on Friday tracking the weakness in the equity which declined further lacking any major cue and on concern about the jobs market and slower manufacturing pace that prevailed on Thursday. The other reason for the decline in crude was the strength in dollar. The euro slumped on global economic concerns and the dollar hit a one-month high against a basket of major currencies as risk aversion escalated.

Benchmark crude for September settled down 97 cents, or 1.3 percent, at $73.46 a barrel, after trading in a range of $71.44, to $74.60 on the New York mercantile Exchange. In London October Brent crude on traded $1.08 lower at $74.22 a barrel on the ICE.

Cardamom Futures Trades Marginally Up : August 20, 2010

Cardamom future for the front month are trading marginally up on the back of speculative buying who have build fresh positions, on hopes that demand might rise in the spot market. However, anticipation of higher acreage under turmeric is limiting its gain for October month delivery contract.

The contract for August delivery was trading at Rs 1273.10, up by 0.32% or Rs 4 from its previous closing of Rs1269.10.The open interest of the contract stood at 2324 lots.

The contract for October delivery was trading at Rs 1134.50, down by 0.46% or Rs 5.30 from its previous closing of Rs1139.80. The open interest of the contract stood at 1836 lots on the MCX.

Physical Rubber Prices Remained Unchanged : August 19, 2010

Physical rubber prices remained unchanged for the third straight day as the markets lacked any major trading activity, suffering from acute short supplies; there were no buyers or sellers in the main trading centres so that the prices could take a cue in the spot markets, though prices suffered hugely in the futures market.

Spot price for RSS-4 and RSS-5 variety remained unchanged at Rs 184 and Rs 174 respectively.

In the futures market, the contract for September delivery for RSS-4 declined to Rs 171.20 compared to its previous closing of Rs 176.38 while the contract for October delivery closed at Rs 164.49 compared to its previous closing of Rs169.36 on the National Multi Commodity Exchange (NMCE).

Gold Prices Ended Higher On Tuesday : August 18, 2010

Gold prices ended higher on Tuesday as the dollar weakened further against euro making the dollar-denominated metal cheaper for holders of other currencies. The dollar was down by about half a percent against other major currencies. Though there were some good economic report but the yellow metal continued its surge on the worries about a double-dip recession.

Gold futures for December delivery settled up $2.10 at $1,228.30 an ounce after trading in a range of $1,224.30 to $1,231.10 an ounce on the Comex metal division of the New York Mercantile Exchange. Spot gold last traded at $1,224.70 an ounce, versus the previous session’s late quote at $1,222.85 an ounce.

Wheat Futures Have Continued Their Sluggish Trade : August 17, 2010

Wheat futures have continued their sluggish trade for the second consecutive day, pressured by a bumper crop and ample stocks. The commodity was also taking cues from the US markets as Chicago wheat futures ended much lower on Monday, as upcoming rainfalls in northern Russia offered investors some hope that it may alleviate the impacts of the worst drought in 130 years.

The contract for August delivery was trading at Rs 1231.20, down by 0.18% or Rs 2.20 from its previous closing of Rs 1233.40. The open interest of the contract stood at 10920 lots.

The contract for September delivery was trading at Rs 1255.00, down by 0.10% or Rs 1.20 from its previous closing of Rs 1256.20. The open interest of the contract stood at 28960 lots on NCDEX.

Pepper Futures Are Trading High : August 16, 2010

Pepper futures are trading high on Monday, extending their gain of previous session. The commodity after witnessing sharp plunge has made some recovery on lower level buying. Though, the market is going through a bearish phase with the decline in domestic trade and export volumes.

The contract for August delivery was trading at Rs 19,050.00, up by 0.40% or Rs 75 from its previous closing of Rs 18,975.00. The open interest of the contract stood at 5077 lots.

The contract for September delivery was trading at Rs 19,274.00, up by 0.44% or Rs 84 from its previous closing of Rs 19,190.00. The open interest of the contract stood at 10103 lots on NCDEX.

Area Under Soybean Plantation Declines : August 14, 2010

Soybean plantation during the 2010 kharif season in the country has declined by 3.76% to 93.075 lakh hectares from 96.709 lakh hectares in kharif 2009. Meanwhile, Madhya Pradesh, the largest soybean producing state of India, has reported a growth of 4.17% in area under soybean sowing to 55.193 lakh hectares from 52.985 lakh hectares for the year ago period.

During kharif 2010, there was about 9.2%, 7.15%, 6.9%, 2.5% and 2.3% increase in area under soybean plantation in Jabalpur, Gwalior, Bhopal, Indore, Sagar divisions of Madhya Pradesh, respectively as compared to kharif 2009, as per the data released by the Soybean Processors Association of India.

One of the major reasons behind year-on-year decline in total area under soybean sowing during kharif 2010 was almost 16% drop in plantation of the oilseed in the state of Maharashtra. The state that stands second in soybean production in the country, bought only 25.529 lakh hectares of land under soybean plantation this year as compared to 30.320 lakh hectares in kharif 2009.

Drop in plantation in the state can be attributed to late onset of monsoon. In Vidharbh region major parts of sowing area reduced due to effect of monsoon and good minimum support price (MSP) price of pulse crop.

Crude Prices Decline Further On Concerns Of Falling Demand : August 13, 2010

The crude prices continued their decline on Thursday on economic worries and concern of falling oil demand.The number of people filing new claims for unemployment insurance unexpectedly rose in the latest week and raised worries of early economic recovery. The initial decline in the crude prices came as global equities slumped amid fears of a slowdown in economic recovery and as the dollar extended its rally. But dollar trimmed its gains after the jobless claims report and helped restrict the further slide.

Benchmark crude for September delivery fell $1.82, or 2.33 percent, to $76.20 a barrel, after trading in a range of $76.05 to $77.97 on the New York Mercantile Exchange. In London Brent crude was down $1 a barrel at $76.64 a barrel on the ICE.

Crude Prices Declined : August 12, 2010

Crude prices declined on Wednesday on demand concerns; though the American Petroleum Institute (API) data showed a more -than-expected decline in crude stocks but that was over shadowed by a report of rise in US crude imports, the downside also got the boost with Federal Reserve comments that it will take steps to support the economy recovery.

American Petroleum Institute reported that US crude inventories dropped slightly more than expected last week and gasoline stocks unexpectedly fell. But crude imports to the United States were up by 1.6 million barrels per day at 10.96 million barrels, the data showed.

Benchmark crude for September delivery was down 4 cents at $80.21 a barrel, after trading in a range of $79.09 to $80.44 on the New York Mercantile Exchange. In London Front-month Brent crude fell 2 cents to $79.58 a barrel on the ICE.

Red Chilli Futures Trade Low On NCDEX : August 11, 2010

Red Chilli futures which started trading up in the morning session have now lost their momentum and are now trading in narrow range due to profit booking. The commodity was up in the morning session owing to the good domestic and export demand ahead of Ramzan amid lower arrivals.

The contract for August delivery was trading at Rs 4120.00, down by 0.91% or Rs 38.00 from its previous closing of Rs 4158.The open interest of the contract stood at 4505 lots.

The contract for September delivery was trading at Rs4219, down by 0.28% or Rs 12 from its previous closing of Rs 4231. The open interest of the contract stood at 7100 lots on the NCDEX.

Mentha Oil Futures Are Trading In Green : August 10, 2010

Mentha Oil futures are trading in green on account of good demand from menthol flakes and crystal manufacturers. Further, even restricted arrivals in the physical markets also influenced mentha oil futures prices in the spot market.

The contract for August delivery was trading at Rs 732.00, up by 0.95% or Rs 6.90 from its previous closing of Rs 725.10. The open interest of the contract stood at 4889.10 lots.

The contract for September delivery was trading at Rs 743.30, up by 0.96% or Rs 7.10 from its previous closing of 736.20. The open interest of the contract stood at 3737 lots on the MCX.

Copper Price Moves Higher On Weaker Dollar : August 09, 2010

Copper prices have increased for the first time in three days as a weaker dollar boosted the appeal of the metal as an alternative asset. The dollar was trading near an eight-month low against the yen and a three-month low against the euro after a report last week showed US employers cut more jobs than forecast in July.

Copper for three-month delivery gained as much as 1.2 percent to $7,461 a metric ton on the London Metal Exchange.

Gold Prices Move Higher : August 07, 2010

Gold prices rose more than a percent to their highest in three weeks on Friday after data showing US payrolls fell for a second straight month knocked the dollar. The Labor Department said non-farm payrolls dropped 131,000 last month, roughly double the 65,000 fall expected. The continuous decline in dollar too turned the investors attention towards the safe heaven.

Gold futures for December delivery rose 0.7 percent to $1,207.50 an ounce, an eighth straight gain,on the Comex metals division of the New York Mercantile Exchange. Earlier, gold reached $1,213.30, the highest level for a most-active contract since July 16. Spot gold rose as high as $1,210.85 an ounce, its strongest since July 15, and last traded at $1,206.95 an ounce, against $1,193.10 late in New York on Thursday.

Copper Prices Dive On Weak US Unemloyment Data : August 06, 2010

Copper prices dived on Thursday after negative sentiments crept in with the unexpected rise in employment claim benifits and the traders got worried with the report that economy recovery may get impacted with it. The red-metal prices saw decline in the day’s trade on the back of position squaring by the investors and lost over one percent of their value.

Copper futures for September delivery declined by 1.5 per cent to reach $ 3.35 per lb, after trading in the range of $3.32 to $3.40, on the Comex metals division of the New York Mercantile Exchange. Copper for three-months delivery on the London Metal Exchange closed after shedding $105 at $7,400 per tonne.

Crude Prices Decline Marginally : August 05, 2010

Crude prices slightly edged lower on Wednesday after gaining for last four straight sessions, there were good economic reports as the private payrolls processor ADP showed that private employers added 42,000 jobs in July, compared with a revised higher gain of 19,000 in June. Also the American Petroleum Institute industry group inventory data on Tuesday showed US crude stockpiles fell, but a less-than-expected 776,000 barrels in the week to July 30. But the traders were cautious ahead of the government inventory report. While the dollar pared losses against the yen after the ADP jobs data.

Benchmark crude for September delivery fell 7 cents, or 0.09 percent, to $82.48 a barrel, after trading in a range of $81.62 to $82.63, on the New York Mercantile Exchange. In London, Brent for September settlement declined 38 cents to $82.30 a barrel on the ICE.

Gold Prices Trade Steady On Monday : August 02, 2010

Gold prices are trading steady on Monday after gaining almost a percent in the previous session on rise in demand for safe heaven. A report of poor US economic growth data fuelled the demand for the precious metal, the further weakness in dollar is likely to ignite fresh buying in the yellow metals today.

Gold futures for December delivery rose $1.5 to $1,185.4 an ounce on the Comex metals division of the New York Metals Exchange. Spot gold has added 80 cents to $1,182.30 after hitting a low of $1,179.10 an ounce.