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Commodity Research Report 01 May 2018 Ways2Capital.pdf


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NCDEX Fundamentals
SPICES
Turmeric futures prices registered sharp gains during its trade in last week.
Prices traded higher on expectations of good demand in the coming days. Further, report of strong export demand is a positive factor for turmeric futures
prices.
Dhaniya futures traded higher to stage recent recovery from their continuous
recent fall on profit booking. However, recovery was limited tracking weaker
demand side at the spot markets. Arrivals at the spot market are higher due
to peak harvesting season with limited buying demand

OIL & OILSEEDS
NCDEX Refined soy oil dropped 0.5% last week tracking firmness in Indian
currency. Moreover, limited buying at physical market also weighed on
prices last week RM Seed futures traded down on limited buying at physical
market. Most active May contract of RM seed traded at NCDEX closed the
day at Rs.3831/quintal, lower by 0.05% against the previous close. Soybean
futures extended its gains following firmness in CBOT soybean futures.
CBOT soybean futures gained substantially after President Donald Trump's
confirmation in last week that he would send a high-ranking team to China
to start negotiations on trade dispute with China.

GUAR COMPLEX
Prospects of a normal monsoon for the third consecutive year kept pressure
on the market sentiments for Guar as prices failed to hold above the 9000
mark. Firmness in crude oil prices and a firm Dollar vs Rupee kept supporting
market sentiments. But good monsoon reports amidst higher stocks limited
the uptrend. Strength in crude oil will keep export demand of guar gum quite
stable. Consumption of drilling chemicals is increasing with rising

OTHERS
The near term fundamentals for RM seed are most likely to restrict the upside movement in coming sessions. As per the charts, the May contract is
now expected to find tough in sustaining above 3835- 3850. RM seed could
not sustain at higher levels and settled even below 3800 support. On daily
basis the May contract was down roughly 2%. The good Monsoon reports
and ongoing arrival season are keeping sentiments bearish for RM seed also
since it would imply better sowing prospects during its planting season of Oct
-Nov.
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01/05/2018