MCX May Cotton closed higher on improved physical demand and tracking firm International prices. USDA forecasts India cotton production for 2018/19 at 28.5 million 480-pound bales (6.21 mt), unchanged from last year. Harvested area is forecast at 11.8 million hectares, down 4 % from last year. In its latest press release, CAI, retained its estimate for the country's output in 2017-18 (Oct-Sep) at 360 lakh bales (1 bale = 170 kg). Cotton prices are still trading at higher levels for the season tracking firm trend in International markets, higher exports and expectation of lower acreage in the country in next season. Cotton exports from the country are still behind at 34.1 lakh bales of cotton during Oct-Feb period compared to 36.4 lakh bales last year same period.

ICE cotton rose nearly 2% on Monday to on concerns about dry weather conditions in a major cotton growing region in the US and rising demand for China. The shipments from the U.S. continue to be strong as imposition of import duty between the U.S. and China in on hold. NASS reported that 52% of the cotton crop in the US was planted as of Sunday. That was a 16% jump from last week and is now 7% ahead of the average. The Commitment of Traders report on Friday showed large spec funds reducing their net long position in cotton futures and options by 8,605 contracts. The USDA Adjusted World Price for this week is 74.09 cents/lb, down 149 points from the previous week.

For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717


Chana Jun futures edge lower on Monday on technical selling and weak physical price. Government is trying to support prices by removing export restrictions and procuring at MSP. Government restricted import of yellow peas, an substitute added in the Chana flour till June end to support Chana prices in domestic market. Madhya Pradesh and Chhattisgarh government announce bonus for Chana procurement over and above this MSP prices. MP govt announces to procure about 21 lt of Chana at MSP of 4,400 /quintal and exclude it from Bhavantar scheme. Earlier, govt has announced of a 7% duty credit incentive on exports.


For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717


MCX CPO closed higher for the third successive session on Monday supported by weaker rupees and reports of increase in import duty on soft edible oil. The base import price of crude palm oil was slashed to $655 per tn from $671 per tn. India’s palm oil imports may dropped in April due to higher taxes on shipments and weaker rupees making imports expensive.

As per SEA latest report, India's crude Palm oil (CPO) imports in March increased by 30.33% compared to same period a year ago despite the govt. imposed higher duty. However, Shipment of RBD palmolein dropped 25.56% to 163,222 tons compared to 219,270 tons last year.

Malaysian palm oil futures closed on negative note on Monday, weighed down by weaker export data. Palm oil exports from Malaysia, the world's second-largest producer and exporter, dropped 20.9 percent between May 1 and 20 compared with the corresponding period in April, inspection company AmSpec Agri Malaysia reported on Monday.

Earlier in the day , the contract had risen 1.3 percent to 2,481 ringgit earlier in the session, its highest since April 9, buoyed by overnight strength in U.S. soyoil on the Chicago Board of Trade and a weaker ringgit , as this makes palm oil cheaper for holders of foreign currencies.


For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717


Refined Soy Oil Futures closed higher on Monday and continue its uptrend on reports that the government may increase import duty on soyoil, sunflower oil, and canola oil by 10% each to support prices of domestic oilseeds. Moreover, weak rupees and improved prices of oilseed in the country also support edible oil prices.

The government has slashed the base import prices of crude soyoil by $24 per tn to $800 per tonnes for the second fortnight of current month. Moreover, higher import duty and increase in tariff value during the current calendar year is making imports expensive.

As per the data from SEA, soyoil imports during the March dropped 49.9% to 115,102 tons compared to 229,853 tons in the same period a year ago. Stocks of edible oil in ports and pipeline are estimated at 2.11 mt as on Apr 1 compared to 1.91 mt a year ago while lower than 2.197 mt in Feb, data showed.

For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717


Mustard Jun futures closed on negative note on Monday due to profit booking at current levels. It is trading in a tight range due to balanced supply and demand. There reports of lower mustard oil imports and improved meal exports. As per latest SEA import data, mustard oil imports were down 14% on year in April which may lead to higher domestic crushing. Futures prices surged closed to 5.3% in the month of May and prices have recovered about 5.7% in the current quarter (Apr-Jun). According to SEA latest export report, exports of mustard meal is sharply increased by 173% on year to nearly 97,891 tons, due to higher demand from South Korea. Exports have been 209% higher at 6.64 lt for the FY 2017/18 compared to previous year’s export volume of 2.14 lt.

According to data compiled by the MOPA, as of Apr 30, overall mustard stock in the country were estimated at 53 lakh tonnes (70 lt production minus 17 lt crushed), out of which 42 lt is still with the farmers while 11 lt with the oil mills and stockists.

For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717


Jun Soybean falls on Monday as market participants initiated fresh selling. However, there is expectation of better demand for crushing from oil mills as govt is planning to hike import duties of soft oil – soy oil, rapeoil and sunflower oil. Moreover, diminishing arrivals in physical is also driving the prices higher in last 15 days. Soybean acreage is expected to be higher in coming kharif season as prices are attractive for the farmers. Production forecast for soybean is pegged at 108 lakh tonnes (lt) compared to 90 lt last year due to normal monsoon forecast while domestic crushing will increase 11% to 91 lt amid higher import duty and weaker rupees as per USDA monthly report.

CBOT Jul Soybean futures closed with gains as U.S.-China trade tensions eased. China is the top buyer of U.S. soybeans. US and China had put the trade war “on hold” for now. This was seen by some as meaning selling more soybeans despite the recent slow consumption within China. US producers are now 12% ahead of the average pace for soybean planting progress at 56% complete. The crop was also 26% emerged, with the normal pace at 15% for this date. Soybean exports in the week of May 17 were 893,680 MT. That was 27.92% larger than last week and 170.59% above the same week in 2017.

For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717



Chana Jun futures edge lower last week on technical correction after it touched Rs. 3,700 last week. The trend is still positive due to improved physical demand at current prices. Recently, government restricted import of yellow peas, an substitute added in the Chana flour till June end to support Chana prices in domestic market. Madhya Pradesh and Chhattisgarh government announce bonus for Chana procurement over an above this MSP prices. Government is trying to support prices by removing export restrictions and procuring at MSP. MP govt announces to procure about 21 lt of Chana at MSP of 4,400 /quintal and exclude it from Bhavantar scheme. Earlier, govt has announced of a 7% duty credit incentive on exports.


For Quick Trial – 8962000225 ✔ 
or mail us here: info@ways2capital.com
✆ - 0731-6626191  | Toll Free - 1800-3010-2007Give a Missed Call for Free Trial - 09699997717
OlderStories Home