Chana updates

Advisory Data:-

Saturday buying continued in chana futures on the back of strong millers offtake along with sharp gains in local mandies. The NCDEX futures swelled by almost Rs 132 per quintal today
Strapping millers offtake ahead of festival demand spurred strong gains in both spot and futures market. Most of the millers of North India have witnessed active buying interest in local mandies. Moreover, poor moisture content in some parts of the chana growing states also added speculative demand in local mandies.
The spot prices of chana such as Akola and Latur variety increased by almost Rs 75-100 per quintal today from the previous day to trade at around Rs 4500-4650 per quintal with the total arrivals of 35 thousand bags.
The NCDEX November Chana contract increased by almost Rs 132 per quintal to settle at Rs 4530 per quintal in today's trading. The contract pared 800 positions in open interest indicating short covering by speculators and traders.

Chill updates

Selling might continue in chilli futures at every spurt in the wake of new arrivals in Madhya Pradesh mandies coupled with favourable crop condition in Andhra Pradesh and Karnataka. The NCDEX futures wilted Rs 105 per quintal in the last trading.
The major mandies of Madhya Pradesh such as Bediya , Indore and Mandsaur have reported the average daily arrivals of around 1000-1500 bags of new crop . These are likely to gain momentum after October 15. Moreover, most of the chilli growing regions of Andhra Pradesh such as Guntur and Khammam also witnessed the favourable rainfall from the last ten days . This might also encourage the better productivity of chilli crop.
The total daily arrivals of chilli reported at around 10 thousand bags at Guntur mandi. While the spot prices of chilli S334- quality were trading at Rs 5200-5400 per quintal and Teza New quality at Rs 7200-7500 per quintal , down almost Rs 100 per quintal in the last day.
The NCDEX November Chilli contract declined by almost Rs 105 per quintal to settle around its new contract low of Rs 5150 per quintal in the previous day. The contract pared 30 positions in open interest indicating long liquidation by speculators and traders. Technically, prices are likely to witness some selling around Rs 5210-5215 per quintal while supports are likely at Rs 5120-5130 per quintal in the short term.

Mentha oil Updates, today mcx chart

Mentha Oil ended the day with smart gains on fresh buying. Mentha oil traded higher on spot demand against the weak arrivals in local mandis. The MCX Mentha oil most active sep contract ended near 1217.

Indian mentha oil prices were not sustaining at higher levels due to the weak export demand for Indian parity due to its higher prices in the global markets. New crop from Indonesia is likely to reach in the market from mid September and crop size is expected to normal during the year. Despite the increase in the global pepper production,

Crude to trade negative on bearish global market sentiments

Commodity Tips Advisory

Fri, Aug 24, 2012 at 10:30. Crude to trade negative on bearish global market sentiments. Angel Commodities has come out with its report on metals and energy. According to the research firm, in today's session crude oil prices are expected to trade on @ 5260-5230-5200.

www.commoditytipsadvisory.com

Commodity Free Calls On Website Home page

VISIT ON
 http://www.commoditytipsadvisory.com/

AND FIND TODAY MCX COMMODITY FREE CALLS & TRADING RANGE............