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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 […]

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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 […]

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