Year: 2024

Agri-Commodity Update – 05-Feb-2024**Domestic Agri-Future market Update*# NCDEX Turmeric Apr* recover strongly during the day after it fall in the morning session. Turmeric prices is supported on expectation of lower production this season.# *NCDEX Jeera Feb* down about 2% in today’s trade as market is expecting bumper crop this season but good physical demand may keep prices above 26,180 levels.# *NCDEX Dhaniya Apr* fall more than 2% today but then took support near 7730 levels and recovered to trade near 7800 levels. Production is expected to be lower due to less area in Gujarat and Rajasthan.# *NCDEX Castor Feb* slipped to 2-weeks low due to improving supplies in the physical market.# *NCDEX Cocud Feb* traded lower on selling pressure at higher levels. Improving kapas arrivals putting pressure on prices in 2024.# *NCDEX Guar seed Mar* down 1.70% due to selling pressure amid lower export demand for Guar gum. Exports down 6% to 3.08 lakh tonnes Vs 3.28 lt last year during Apr-Dec period.# *NCDEX Kapas* trading under pressure near 1481 levels as physical arrivals reaching record highs last week at daily average arrivals of 1.91 lakh bales# *MCX Cottoncndy Mar* trading little higher near 57,760 levels.*International Market Update*# ICE Cotton is trading moderately higher as it trading near 3-month high due to robust export volumes from the US.# US soybean continue to trade under pressure weigh down by diminishing export demand from the US.# Hot Weather and Dryness Hurt Argentina Soy;86% of soy is in a fair, good or excellent condition, down from 92% last week# Brazil 2023/2024 soybean crop forecast lowered to 150.35 mln T – StoneX# Malaysian palm oil futures recouped early losses on Monday to trade 1% high, with concerns of lower January output and a weaker ringgit countering weakness in rival edible oils

Agri-Commodity Update – 05-Feb-2024* *Domestic Agri-Future market Update* # NCDEX Turmeric Apr* recover strongly during the day after it fall in the morning session. Turmeric […]

Economic EventsJAPAN Services PMI (Jan) (06:00): Actual 53.1 Forecast 52.7 Previous 51.5CHINA Caixin Services PMI (Jan) (07:00): Actual 52.7 Forecast 53.0 Previous 52.9INDIA Nikkei Services PMI (Jan) (10:30): Actual 61.8 Forecast 60.0 Previous 59.0UK Composite PMI (Jan) (15:00): Actual 52.9 Forecast 52.5 Previous 52.1 Services PMI (Jan) (15:00): Actual 54.3 Forecast 53.8 Previous 53.4EUROPE German Trade Balance (Dec) (12:00): Actual 22.2B Forecast 19.0B Previous 20.4B German Composite PMI (Jan) (14:25): Actual 47.0 Forecast 47.1 Previous 47.4 German Services PMI (Jan) (14:25): Actual 47.7 Forecast 47.6 Previous 49.3 Services PMI (Jan) (14:30): Actual 48.4 Forecast 48.4 Previous 48.8 S&P Global Composite PMI (Jan) (14:30): Actual 47.9 Forecast 47.9 Previous 47.6 PPI (YoY) (Dec) (15:30): Actual -10.6% Forecast -10.5% Previous -8.8% PPI (MoM) (Dec) (15:30): Actual -0.8% Forecast -0.8% Previous -0.3%

Economic Events JAPANServices PMI (Jan) (06:00): Actual 53.1 Forecast 52.7 Previous 51.5 CHINACaixin Services PMI (Jan) (07:00): Actual 52.7 Forecast 53.0 Previous 52.9 INDIANikkei Services […]