Jeera trading range for the day is 18810-20030.Jeera prices gained on a lower output forecast and strong demand from overseas buyers. Reports to poor output in two other major producing countries, Syria and Turkey also supporting ptices. NCDEX accredited warehouses jeera stocks gained by 15 tonnes to 855 tonnes.In Unjha, a key spot market in Gujarat, jeera edged up by 499.15 Rupees to end at 19186.65 Rupees per 100 kg.
Turmeric trading range for the day is 6032-6292.Turmeric prices dropped continuing its weak trend due to new crop supplies amid weak buying. However, there are concerns over crop in TN amid drought like situation which could support prices in medium term. NCDEX accredited warehouses turmeric stocks gained by 288 tonnes to 3109 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5935 Rupees dropped -40 Rupees.
Soyabean trading range for the day is 2956-3042.Soyabean prices ended with gains tracking firmness in overseas prices as rains delayed fieldwork in parts of the U.S. grain belt.The USDA raised its forecast of global soybean stocks at the end of the 2016-17 marketing year to 87.41 million tonnes.NCDEX accredited warehouses soyabean stocks dropped by 4108 tonnes to 178164 tonnes.At the Indore spot market in top producer MP, soybean gained 10 Rupees to 3082 Rupees per 100 kgs.
Menthaoil trading range for the day is 948.4-1001.4.Mentha oil spot at Sambhal closed at 1117.30 per 1kg. Spot prices was down by Rs.-7.10-.Mentha oil dropped on the speculation the area under cultivation can increase this year resulting good production.A better price recovery in mentha oil is expected to boost production of the crop by 12% this year.A large number of small and marginal farmers from Uttar Pradesh, Himachal Pradesh, Haryana and other places sowed mentha in January.
Aluminium trading range for the day is 121.8-125.8.Aluminium prices gained after fresh capacity cuts in China, while the countrys robust Q1 growth underpinned its demand outlook.Three new aluminium projects with a capacity of 2mt have been halted in Xinjiang in China for violating rules aimed at curbing capacity.Shanghai aluminium closed 2.3% higher at 14,485 yuan, after climbing to its highest in five months earlier in the session at 14,995 yuan.
Nickel trading range for the day is 618.1-631.3.Nickel prices dropped in thin trading day as LME was closed despite solid growth from Chinas factories brightening the outlook.Chinas 2017 export outlook brightened considerably after it reported forecast-beating trade growth in March.Chinas banks unexpectedly extended less credit in March than in the previous month as the government tries to contain the risks from an explosive build-up in debt
Zinc trading range for the day is 166.6-170.4.Zinc prices settled flat in thin trading day as LME was closed as supply tightness eased recently after restarts at mines driven by high zinc pricesChinas factory output rose 7.6 percent in March from a year earlier, while fixed-asset investment grew 9.2 percent in the first quarter, both beating expectations.Chinas property cooling measures are likely to show effects after April, Chinas statistics bureau told reporters.
Copper trading range for the day is 364-375.Copper prices gained as solid growth from Chinas factories brightening the outlook for the base metals.Chinas economy grew 6.9 percent in the first quarter from a year earlier, slightly faster than expected.Perus Ministry of Energy and Mines revealed this week that the countrys copper production rose by 5.42% in February compared to the same month last year.
Naturalgas trading range for the day is 201.5-210.3.Natural gas dropped continuing its weak trend as traders were caution for recent move given the upcoming weather forecast.The EIA in its Short-Term Energy Outlook report estimates that US dry natural gas production will average 73.1 Bcf per day in 2017.Market intelligence company PointLogic reported that weekly US dry natural gas production rose 0.6% to 70.2 Bcf (billion cubic feet) per day from April 612, 2017.
Crudeoil trading range for the day is 3369-3447.Crude dropped despite bullish Chinese economic data, as investors weighed the impact of a ramp-up in U.S. oil production.Barker Hughes reported its weekly U.S. rig count rose by 11 to 683, it was the thirteenth straight weekly increaseTraders look ahead to OPECs next meeting, scheduled for May 25; it is widely expected that OPEC will announce the cut global oil supply.
Silver trading range for the day is 42242-42878.Silver prices traded in range as a weaker dollar and tensions on the Korean peninsula supported demand.The Atlanta and New York Federal Reserve banks downgraded their outlook for U.S. economic growth for the first quarter.The number of Americans filing for unemployment aid unexpectedly fell last week and consumer sentiment rose amid continued optimism over household finances.
Gold trading range for the day is 29315-29541.Gold continue to push higher, amid concerns that tensions between North Korea and the U.S. may soon escalate.Dollar weakness continues as North Koreas failed nuclear test left investors wondering what the reaction from the U.S. and its allies Gold imports by India may have rise in March 2017 compared to the same month last year. Jewelers could be restocking ahead of the wedding season.