Jeera trading range for the day is 18010-18580.Jeera dropped on profit booking after prices gained on a lower output forecast and strong demand from overseas buyers.The latest spell of rainfall last week is estimated to have spoiled 30 per cent of the standing crop.NCDEX accredited warehouses jeera stocks dropped by 15 tonnes to 501 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -10 Rupees to end at 18015 Rupees per 100 kg.
Turmeric trading range for the day is 6264-6412.Turmeric prices ended with losses due to heavy arrivals from the producing regions. Production in the ongoing season is expected to increase mainly on higher sowing area and favourable weather conditions.NCDEX accredited warehouses turmeric stocks gained by 88 tonnes to 1774 tonnes.In Nizamabad, a major spot market in AP, the price ended at 6163.1 Rupees dropped -10 Rupees.
Soyabean trading range for the day is 2867-2909.Soyabean prices gained due to bargain buying and demand from the mills as meal exports have been higher.Soybean arrivals in the local mandis were estimated at 40,000-50,000 bags as compared to 125,000-135,000 bags on the previous day.NCDEX accredited warehouses soyabean stocks dropped by 479 tonnes to 193583 tonnes.At the Indore spot market in top producer MP, soybean gained 12 Rupees to 3028 Rupees per 100 kgs.
Menthaoil trading range for the day is 975.9-1020.7.Mentha oil spot at Sambhal closed at 1127.00 per 1kg. Spot prices was up by Rs.6.70-.Mentha oil edged higher amid pick-up in demand at domestic spot market. Further, restricted arrivals from major producing belts of Chandausi in Uttar Pradesh, too supported mentha oil prices.Now on domestic side traders had estimated earlier total production in the range of 35000-37000 tons for this year.
Aluminium trading range for the day is 124.7-127.5.Aluminium prices gained supported by optimism that China would carry out plans to cut supply and by a rebound in the oil price.The United States has launched a probe to determine whether imports of Chinese aluminium foil should be subject to anti-dumping and anti-subsidy duties.Japans aluminium premium for shipments in the April to June quarter was set at $128 per tonne, as higher overseas prices pushed spot premiums in Japan higher.
Nickel trading range for the day is 636.9-655.5.Nickel dropped tracking weakness from LME Nickel which settled down by 0.6% at $9,940 per tonne as ample supply seen in the market.The rebound in the base metals prices suggests underlying sentiment remains strong enough to encourage solid dip-buying.Technically market is under long liquidation as market has witnessed drop in open interest by -12.89% to settle at 19501.
Zinc trading range for the day is 180.2-187.4.Zinc gained strongly as investor sentiment picked up after the strong consumer confidence number in the U.S. saw Trump worries fade.Sentiment was also boosted by secondary economic data in China that showed March activity was strong.The U.S. National Association of Realtors said its pending home sales increased by 5.5% last month, which was far above economists forecast of a 2.4% increase.
Copper trading range for the day is 380.4-387.8.Copper dropped as concerns dropped after the strike at the worlds largest mine, Escondida in Chile, has ended.U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism.Chinas top copper smelters have agreed to an 11 percent cut in second-quarter treatment and refining fees, after disruptions at the worlds two biggest copper mines.
Naturalgas trading range for the day is 203-215.2.Natural Gas gained to settled above 210 level as investors bet that amount of gas in storage may fall short of summer demandWeather systems will track across the country the next several days with rain, snow, and thunderstorms, but with limited cold airTotal natural gas in storage currently stands at 2.092tcf, according to the US EIA
Crudeoil trading range for the day is 3124-3264.Crude oil prices rose as U.S. crude inventories grew less than expected and supply disruptions continued in Libya.U.S. crude futures surged to nearly a two-week high after EIA reported that crude inventories rose 867,000 barrels last week, nearly half the build expected.Oil production from the western Libyan fields of Sharara and Wafa has been blocked by armed protesters, reducing output by 252,000 barrels per day.
Silver trading range for the day is 41902-42488.Silver prices dropped as pressure seen as stronger than expected U.S. home sales data supported the narrative of a stronger U.S. economy.Prime Minister Theresa May filed formal Brexit divorce papers, triggering years of negotiations that will test the cohesion of the European Union.Feds Eric took a somewhat bullish outlook on possible rate hikes, after he said the U.S. central bank should be prepared to raise interest rates a total of four times in 2017.
Gold trading range for the day is 28568-28818.Gold prices dropped weighed by a rise in the dollar, which continued to recover from multi-month lows, after the release of upbeat economic data.Prime Minister Theresa May formally began Brexit – Britains divorce from the European Union, declaring there was no turning back.Fed will raise interest rates at least twice this year, and possibly up to four times although that would require an improvement in fundamentals, Feds Evans said.