Commodity research report 21 august 2017 ways2capital

BULLION METALS OUTLOOK GOLD - Gold on MCX settled down -0.44% at 28952 as investors looked ahead to minutes of the Federal Reserve’s latest policy meeting for further hints on the timing of the next U.S. rate hike. The U.S. dollar was on the defensive on Thursday after the minutes from the Federal Reserve's last policy meeting showed policymakers were increasingly wary of recent softness in inflation and could delay a rate hike. Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the U.S. central bank's last policy meeting. The U.S. central bank is roughly at the mid-point on its current path to normalize interest rates as the economy has shown further improvement even without fiscal stimulus, San Francisco Federal Reserve President John Williams told. European Central Bank President Mario Draghi will not deliver a new policy message at the U.S. Federal Reserve's Jackson Hole conference, two sources familiar with the situation said, tempering expectations for the bank to start charting the course out of stimulus. The economy in the 19 countries sharing the euro currency expanded by more than previously forecast in the second quarter compared to the same quarter in 2016, the European Union's statistics office Eurostat said. Technically Gold market is under fresh selling as market has witnessed gain in open interest by 0.91% to settled at 6635 while prices down 128 rupees. Now MCX Gold is getting support at 28844 and below same could see a test of 28737 levels, and resistance is now likely to be seen at 29014, a move above could see prices testing 29077. .

GOLD CHART

Chart Details - On the Above given Daily Chart of Gold has Appiles the Bollinger Band Along with MACD A closer look at price action sees gold holding within the confines of a well-defined ascending channel formation off the July lows. A rebound off channel support early this week saw prices break to fresh yearly highs on Friday – but not before posting a massive 4-hour reversal candle just ahead of channel resistance. Heading into next week, the threat remains for a deeper pullback here but the broader focus remains higher while channel support /1278 with bullish invalidation set to the monthly open at 1268. Bottom line: we’re shifting our weekly bias to neutral heading into next week while noting a constructive outlook while within this channel. Technically Gold market is under fresh selling as market has witnessed gain in open interest by 0.91% to settled at 6635 while prices down 128 rupees. Now MCX Gold is getting support at 28844 and below same could see a test of 28737 levels, and resistance is now likely to be seen at 29014, a move above could see prices testing 29077.

Monday 21Aug 2017

SILVER -Silver on MCX settled down -0.8% at 38863 but prices trimmed some of its losses after the release of downbeat U.S. housing sector data dampened demand for the greenback. However, sentiment on the greenback became vulnerable after the U.S. Commerce Department said on Wednesday that the number of housing starts and building permits both fell in July. Housing starts dropped 4.8% to a seasonally adjusted annual rate of 1.16 million units, the Commerce Department said. Investors will parse the minutes for clues on when Fed might start to unwind its $ 4.5 tn balance sheet as well as any update concerning the labor market and inflation. In its July policy statement, the Federal Reserve raised concerns over the slow pace of inflation while pointing out that it expects to begin unwinding its balance sheet “relatively soon”. Ahead of the release, New York Fed Chief Bill Dudley said earlier this week, he would favour a third rate hike this year. Earlier, Cleveland Fed President Loretta Mester said that while some price readings have fallen this year, expectations are more stable, adding that monetary policy must anticipate changes in the data and not react to temporary aberrations. She said there is roughly an equal chance that the Fed is forced to raise rates more or less aggressively than currently planned in the months and years ahead. In its July policy statement, the Federal Reserve raised concerns over the slow pace of inflation while pointing out that it expects to begin unwinding its balance sheet “relatively soon”. Technically MCX Silver is getting support at 38450 and below same could see a test of 38036 levels, and resistance is now likely to be seen at 39133, a move above could see prices testing 39402.

SILVER CHART

Detail of Chart -Silver prices have been working their way higher in bullish fashion since the spike-day low created back on 7/10.

The past few days the rally stalled on a failure to maintain above the 200-day MA and after touching off on the upper parallel of the channel since in place since July. The trend in the intermediate to long-term remains down, marked by the lower highs and lower lows, however; as long as the lower parallel maintains then keeping a tentatively bullish stance in the near-term makes sense. Technically MCX Silver is getting support at 38450 and below same could see a test of 38036 levels, and resistance is now likely to be seen at 39133, a move above could see prices testing 39402.

✍ MCX DAILY LEVELS DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

ALUMINIUM

31-AUG-17

139

137

135

134

133

COPPER

31- AUG-2017

430

425

420

417

415

CRUDE OIL

19-SEP-17

3399

3290

3181

3142

GOLD

05-OCT-2017

30331

29963

29595

LEAD

31-AUG-17

170

164

NATURAL GAS

28-AUG-2017

195

NICKEL

31-AUG-17

762

SILVER

05-SEP-2017

41491

ZINC

31-AUG-17

214

S2

S3

S4

131

129

127

412

410

405

400

3072

3033

2963

2854

2745

29379

29227

29011

28859

28491

28123

158

154

152

148

146

140

134

192

189

187

186

184

183

180

177

741

720

712

699

691

678

657

636

39220

38763

38463

37706

36949

194

189

40734 39977

39520

S1 132

209

204

202

199

197

184

✍ MCX WEEKLY LEVELS WEEKLY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

31-AUG-17

149

143

137

134

131

128

125

119

113

COPPER

31-AUG-17

454

441

428

421

415

408

402

389

376

21-AUG-17

3582

3414

3246

3175

3078

3007

2910

2742

2574

GOLD

05-OCT-2017

31064

30421

29778

29470

29135

28827

28492

27849

27206

LEAD

31-AUG-17

192

179

166

158

153

145

127

114

NATURAL GAS

28-AUG-2017

217

207

197

191

187

181

177

167

157

NICKEL

31-AUG-17

820

777

734

719

691

676

648

605

562

SILVER

05-SEP-2017

43131

41759

40378

39725

39015

38353

37643

36271

34899

ZINC

31-AUG-17

243

227

211

205

195

189

163

147

CRUDE OIL

140

179

✍ FOREX DAILY LEVELS DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

USDINR

29-AUG-17

64.22

64.18

64.14

64.09

64.05

64.00

63.96

63.91

63.87

EURINR

29-AUG-17

75.68

75.58

75.48

75.33

75.23

75.08

74.98

74.83

74.68

GBPINR

29-AUG-17

82.92

82.66

82.55

82.42

82.31

82.18

82.07

81.95

JPYINR

29-AUG-17

60.83

60.74

59.83

59.38

58.47

58.02

57.11

56.66

55.78

R3

R2

R1

PP

S1

S2

S3

82.79

✍ FOREX WEEKLY LEVELS WEEKLY

EXPIRY DATE

R4

S4

USDINR

29-AUG-17

64.86

64.68

64.50

64.29

64.11

63.90

63.72

63.51

63.22

EURINR

29-AUG-17

75.72

75.60

75.49

75.35

75.24

75.10

74.99

74.85

74.71

GBPINR

29-AUG-17

82.96

82.83

82.70

82.56

82.43

82.29

82.16

82.02

81.88

JPYINR

29-AUG-17

63.65

62.41

61.17

60.05

58.81

57.69

56.45

55.33

55.21

✍ NCDEX DAILY LEVELS DAILY

EXPIRY DATE

SYOREFIDR

20-SEP -2017

SYBEANIDR

R4

R3

R2

R1

642

641

640

639

20-SEP -2017

3188

3148

3108

3092

RMSEED

20-SEP -2017

3837

3817

3797

JEERAUNJHA

20-SEP -2017

19573

19443

GUARSEED10

20-SEP -2017

4315

TMC

20-SEP -2017

7962

PP

S1

S2

S3

S4

638

637

636

635

3068

3052

3028

2988

2948

3785

3777

3765

3757

3737

3717

19313

19246

19183

19116

19053

18923

18793

4182

4049

3990

3916

3857

3783

3650

3517

7784

7606

7534

7428

7356

7250

7072

6894

639

✍ NCDEX WEEKLY LEVELS WEEKLY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20-SEP -2017

695

678

661

650

644

633

627

610

593

SYBEANIDR

20-SEP -2017

3362

3257

3152

3114

3047

3009

2942

2837

2732

RMSEED

20-SEP -2017

4195

4041

3887

3830

3733

3676

3579

3425

3271

JEERAUNJHA

20-SEP -2017

20793

20273

19753

19466

19233

18946

18713

18193

17673

GUARSEED10

20-SEP -2017

4568

4340

4112

4022

3884

3794

3656

3428

3200

TMC

20-SEP -2017

8052

7840

7628

7545

7416

7333

7204

6992

6780

MCX - WEEKLY NEWS LETTERS ✍ INTERNATIONAL UPDATES ( BULLION & ENERGY ) ✍ GOLD Gold prices retreated on Friday after surging to their highest level in nine months earlier on the back of concerns over U.S. political uncertainty and amid safe haven buying in the wake of a terrorist attack in Spain. Gold futures for December delivery settled down 0.16% at $1,290.27 on the Comex division of the New York Mercantile Exchange, after rising as high as $1,306.9 earlier, the highest level since November 11. The precious metal reversed course after reports that senior White House advisor Steven Bannon was leaving his post, in what was seen as a positive for the Trump administration’s agenda. Ongoing uncertainty over the economic agenda of U.S. President Donald Trump and doubts that the Fed will deliver a third rate hike this year have been factors underpinning gold demand. Gold prices have risen around 11% this year due in large part to the weaker dollar. The dollar surged to 14-year highs after Trump’s November election on hopes that his plans for fiscal stimulus and tax reform would bolster the economy. The dollar has since given up its post-election gains amid mounting concerns about the administration’s ability to deliver on its agenda.

Gold prices were little changed after jumping to their highest in more than nine months on Friday as the dollar retreated on political uncertainty in the United States and a suspected Islamist militant attack in Spain boosted bullion's safe-haven appeal. Spain mounted a sweeping anti-terrorism operation on Friday after a suspected militant drove a van into crowds in Barcelona, killing 13 people in what police suspect was one of a planned wave of attacks. gold XAU= touched its highest since Nov. 9 at $1,300.80 per ounce, and was up 0.03 percent at $1,287.95 an ounce by 3:20 p.m. EDT. Pressuring gold, however, was the latest high-level shake up at the White House. U.S. President Donald Trump on Friday fired Stephen Bannon as his chief strategist, removing a powerful and controversial figure known for far-right political views. stocks rebounded in a volatile session on Friday, while the dollar cut losses and bond yields rose to session highs after the news. ouster of White House chief strategist Steve Bannon, who had been vilified perhaps more than anyone in the executive branch since Dick Cheney, put a tenuous floor on the stumbling stock market and blunted gold's charge above $1,300," said Tai Wong, director of base and precious metals trading for BMO Capital Markets in New York. "Gold and silver finish the day and the week largely unchanged looking for direction." Markets were also uncertain about Trump's ability to push ahead with policies after the disbandment of two high-profile business advisory councils over his remarks on violence at a rally in Virginia last weekend. gold futures GCcv1 for December delivery settled at $1,291.60. "The recent soft patch in U.S. data has put serious doubts over whether there will be another rate hike coming from the Fed this year.

Gold prices in India were at their widest discount to international prices in 11 months on Friday due to

sluggish demand and an influx of the precious metal sourced from South Korea. Indian traders are likely to import 25 tonnes of gold from South Korea in July-August, taking advantage of a recent tax change that allows imports without the usual 10 percent customs duty, industry officials told Reuters. Korean supplies are distorting the market. Retail demand is still weak due to the price rise," said N. Vijay, a bullion dealer from Salem in the southern Indian state of Tamil Nadu. India had previously imposed a 12.5 percent excise duty on imports from countries with which it had signed Free Trade Agreements, such as South Korea. But this was scrapped along with other local taxes when India introduced a Goods and Services Tax from July 1. in India were offering a discount of up to $ 13 an ounce this week over official domestic prices, compared with a discount of up to $ 7 an ounce last week. This week's discount was the maximum since September 2016. Local gold prices MAUc1 jumped to 29,390 rupees per 10 grams on Friday, the highest since June 8. "Retail buyers and jewellers are waiting for prices to correct. They are not comfortable in buying above 29,000 rupees," said a Mumbai-based dealer with a private bank.

Gold prices moved higher on Friday, hovering close to a recent two-month peak, after a terrorist attack in Spain boosted demand for safe-haven assets. Comex gold futures were up around $1.95, or about 0.14%, to $1,293.12 a troy ounce by 3:00AM ET, not far from a two-month high of $1,298.10 reached late last week. The precious mental found support after a van rammed into pedestrians in a crowded tourist area of Barcelona on Thursday evening, killing at least 13 people and injuring 100 others. The Islamic State claimed responsibility for the incident. Spanish police said that two men had been arrested so far. Gold prices were also boosted by a weaker U.S. dollar, after eight chief executives quit two business advisory councils on Wednesday in protest over U.S. President Donald Trump’s controversial remarks on weekend violence in Virginia. The U.S. President reacted to the departures by disbanding the councils – the American Manufacturing Council and the Strategic and Policy Forum. White House Economic Adviser Gary Cohn denied rumors of his possible departure late Thursday. However, growing opposition to Trump’s positions, including from within his own party, have fueled concerns over the administration’s ability to implement its political agenda. The dollar also remained under pressure after the minutes of the Fed’s July policy meeting released on Wednesday showed that members of the central bank remain divided over the need to raise interest rates further this year, citing low inflation. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 93.54. The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

Gold prices rose sharply on Thursday, climbing back toward their highest level in more than two months after minutes from the Federal Reserve's July meeting hinted at a delay in further rate hikes. Comex gold futures gained around $11.00, or about 0.9%, to $1,293.72 a troy ounce by 3:15AM ET, not far from a two-month high of $1,298.10 touched late last week. Gold prices finished higher on Wednesday as news that two White House business advisory groups have disbanded prompted a late-session turn higher for

the yellow metal. Gold gained further after the minutes from the Fed's last policy meeting showed policymakers were increasingly wary of recent softness in inflation and could delay a rate hike. Futures traders are pricing in about a 40% chance of a rate hike by the end of the year, according to Investing.com’s Fed Rate Monitor Tool, down from roughly 50% before the Fed minutes. The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases. Market players will now turn their attention to data on weekly jobless claims and the Philadelphia Fed manufacturing survey at 8:30AM ET to gauge the strength of the world's largest economy and how it will impact the Fed's view on monetary policy.

Investors took advantage of more confusion about Fed policy on rates and took the precious metal higher in Asia on Thursday after minutes released overnight casts some doubt on a third hike this year. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.80% to $1,293.21 a troy ounce. Fed minutes showed an increased debate about another rate hike this year and the political backlash against Donald Trump's remarks on racist confrontations this passed weekend in Virginia weighed. The divide appeared in minutes released from the Federal Open Market Committee's July meeting, when central bank policymakers voted to hold the target rate to a range of 1% to 1.25%.

The summary portrays views that inflation ultimately will get to the Fed's 2% target but is clearly not there yet. Earlier, Cleveland Fed President Loretta Mester said that while some price readings have fallen this year, expectations are more stable, adding that monetary policy must anticipate changes in the data and not react to temporary aberrations. She said there is roughly an equal chance that the Fed is forced to raise rates more or less aggressively than currently planned in the months and years ahead. Overnight, gold prices turned positive on Wednesday, on the back of weaker U.S. housing data. Housing starts dropped 4.8% to a seasonally adjusted annual rate of 1.16 million units, the Commerce Department said on Wednesday.

Gold prices continued lower on Wednesday, as investors looked ahead to minutes of the Federal Reserve’s latest policy meeting for further hints on the timing of the next U.S. rate hike and clues on how the central bank plans to pare back its balance sheet. The Fed will release minutes of its most recent policy meeting later in the day at 2:00PM ET. The central bank left interest rates unchanged following its meeting on July 26 and said it expected to start shrinking its massive holdings of bonds "relatively soon". Policymakers also noted weakness in U.S. inflation more explicitly than before. Market players will also eye data on U.S. housing starts and building permits at 8:30AM ET to gauge the strength of the world's largest economy and how it will impact the Fed's view on monetary policy. Comex gold futures were down around $4.00, or about 0.3%, to $1,275.81 a troy ounce by 2:55AM ET. It fell to a one-week low of $1,272.70 in the prior session. The yellow metal suffered its steepest one-day drop in nearly six weeks on Tuesday, after strong data on U.S. retail sales and manufacturing activity kept alive the chance of another Fed rate hike by the end of this year. Futures traders are pricing in about a 50% chance of a rate hike by December, according to Investing.com’s Fed Rate Monitor Tool, up from roughly 35% at the start of the week.

Gold prices moved lower for a second consecutive session on Tuesday, as tensions between the U.S. and North Korea appeared to subside and as the greenback strengthened subsequently. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.73% at $1,281.04, the lowest since August 9 after hitting a two-month peak of $ 1.298.10 on Friday. The December contract ended Monday’s session 0.28% lower at $1,290.40 an ounce. Futures were likely to find support at $1,265.90, the low of August 9 and resistance at $1,296.40, Monday’s high. Demand for the safe-haven precious metal weakened after North Korea said on Tuesday it had delayed a decision on a plan to fire missiles at the U.S. Pacific territory of Guam while it watches U.S. actions a little longer. At the same time, South Korean President Moon Jae-in said there will be no military action upon the Korean peninsula without Seoul's consent and that the government would prevent war by all means. Market participants were also looking ahead to U.S. retail sales data, to be released later Tuesday, for further indications on the strength of the economy after disappointing inflation figures on Friday dampened expectations for another rate hike by the Federal Reserve this year. The greenback found some support after New York Fed President William Dudley said on Monday that he favored another interest rate hike this year if the economic conditions evolved in line with his expectations. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.30% at 93.62, the highest since August 10.

Gold prices fell by half a percent on Monday, retreating from last week's two-month highs, as dollar strength and the easing of tensions between the United States and North Korea pushed prices lower.

Though North Korea's Liberation Day celebration on Tuesday could raise the temperature again, markets were relieved that the weekend passed without more inflammatory rhetoric. the dollar broadly rose from last week's four-month lows against the yen and traded up against a basket of currencies, making dollarpriced gold costlier for non-U.S. investors. "A lot of the negative news is priced into the dollar. That, combined with no real escalation in North Korea, should lead to lower gold prices, though it doesn't mean we expect a very negative trend. We'll stay within the $1,200 to $1,300 range for the year," said ABN Amro strategist Georgette Boele. Spot gold XAU= fell 0.6 percent to $1,281.21 an ounce by 2:33 p.m.

EDT, having reached its highest since June 7 at $1,291.86 in the previous session. U.S. gold futures GCcv1 for December delivery fell 0.3 percent to settle at $1,290.40. "Although more aggressive rhetoric between the U.S. and North officials would temporarily boost gold prices, we see outright military action as unlikely and upward pressure on gold prices stemming from the confrontation as limited.

AHEAD OF THE COMING WEEK A LIST OF THESE SIGNIFICANT EVENTS LIKELY TO AFFECT THE MARKETS. Monday, August 21 Canada is to release data on wholesale sales.

Tuesday, August 22 The UK is to release data on public sector borrowing.

The ZEW Institute is to report on German economic sentiment.

Canada is to release data on retail sales.

Wednesday, August 23 ECB President Mario Draghi is to speak at an event in Germany.

The euro zone is to release data on manufacturing and service sector activity.

Dallas Fed President Robert Kaplan is to speak.

The U.S. is to release data on new home sales.

Thursday, August 24 The UK is to release revised data on second quarter growth.

The U.S. is to report on jobless claims and existing home sales.

Meanwhile, the annual meeting of top central bankers and economists in Jackson Hole will get underway.

Friday, August 25 The Ifo Institute is to report on German business climate.

The U.S. is to release data on durable goods orders.

ECB President Mario Draghi is to speak in Jackson Hole.

ENERGY Oil markets were stable early on Monday, holding on to Friday's big gains even though rising U.S. output weighed on hopes the market will tighten with crude inventories down 13 percent since March. Brent crude futures, LCOc1 the international benchmark for oil prices, were at $52.72 per barrel at 0139 GMT, unchanged from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $48.54 a barrel, up 3 cents form their last settlement. This came after an up-to-3 percent increase in prices on Friday. said the market was somewhat held back by rising U.S. production, which has broken through 9.5 million barrels per day, its highest since July 2015. But the rise in U.S. output may soon slow, as energy firms cut rigs drilling for new oil for a second week in three, the Baker Hughes energy services firm reported on

Friday. Drillers cut five oil rigs in the week to Aug. 18, bringing the total count down to 763, Baker Hughes said. "The rig count suffered its biggest fall since January, adding to signs that the market is tightening," ANZ bank said on Monday. Also, U.S. commercial crude inventories have fallen by almost 13 percent from their March peaks, to 466.5 million barrels. Analysts said that falling crude inventories, despite rising output, indicate the market is already tightening. "The rebalance of the oil market is well under way according to inventory data, however the market is heavily focused on the fact that shale supply continues to increase.

Oil prices moved higher on Friday, bouncing off the previous session’s three-week lows, but gains were expected to remain limited by ongoing converns over rising U.S. production and overall risk-aversion on global financial markets. The U.S. West Texas Intermediate crude September contract was at $47.19 a barrel by 6:30AM ET, up 10 cents, or around 0.21%, off Thursday’s three-week through of $ 46.46.

Elsewhere, Brent oil for October delivery on the ICE Futures Exchange in London added 0.5 cents or about 0.1% to $51.05 a barrel, after hitting a three-week low of $ 50.01 in the previous session. Crude prices remained under pressure after U.S. government data this week revealed an increase in domestic production to the highest level in over two years. However, crude oil inventories fell by 8.9 million barrels, according to the EIA figures, the seventh weekly decline in a row. Oil prices have been under pressure in recent weeks as concern over rising U.S. shale output canceled out production cuts by OPEC and non-OPEC members. OPEC and 10 producers outside the cartel, including Russia, agreed since the start of the year to slash 1.8 million barrels per day in supply until March 2018 in order to reduce a global supply glut and rebalance the market. However, so far, the deal has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria, as well as a relentless increase in U.S. shale output. Oil traders were also sensitive to overall risk-aversion on global markets after after a van rammed into pedestrians in a crowded tourist area of Barcelona on Thursday evening, killing at least 13 people and injuring 100 others.

Oil prices dipped on Friday as part of a broad-based selloff across markets and despite signs that crude markets are gradually tightening. Brent crude futures, LCOc1 the international benchmark for oil prices, were at $50.99 per barrel at 0520 GMT, down 4 cents from their last close. Brent is set for an over 2 percent drop this week. U.S. West Texas Intermediate crude futures CLc1 were at $ 47.06 a barrel, down 3 cents. WTI is also set to drop for the week, down some 3.5 percent. The dip in oil prices occurred amid a selloff across markets, including U.S. and Asian stocks, where investors voted with their feet amid growing scepticism that U.S. President Donald Trump, embroiled in controversy, would achieve his economic agenda. overall softness in financial markets added to the perception that oil supply remains higher than demand despite producer efforts to reduce output. The Organization of the Petroleum Exporting Countries, together with non-OPEC producers like Russia, has pledged to restrict output by 1.8 million barrels per day between January this year and March 2018. "Sentiment in oil markets remains weak.

Oil prices edged up on Thursday, but the market continued to be weighed down by high production, especially in the United States. Brent crude futures LCOc1 were at $ 50.36 per barrel at 0657 GMT, up 9 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $ 46.80 a barrel, up just 2 cents. The slight gains followed a more than 1 percent fall in the previous session.

Information Administration data on Wednesday showed that commercial U.S. crude oil stocks C-STK-TEIA have fallen by almost 13 percent from their peaks in March to 466.5 million barrels. Stocks are now lower than in 2016. "If inventory declines continue at this pace, stocks will fall back below the five-year average in around two months," said William O'Loughlin, analyst at Australia's Rivkin Securities. pace of the declines indicates that the OPEC production cuts are having an effect, although the current oil price suggests that the market is sceptical about the longer-term prospects for rebalancing of the oil market. The market seemed "to focus on the rise in production", which jumped by 79,000 barrels per day to 9.5 million bpd last week, its highest level since July 2015, and 12.75 percent above the most recent low in mid-2016.

Crude oil prices rebounded in Asia on Thursday as investors saw buying opportunity on an overnight dip on mixed U.S. inventory data. Record refinery runs in the U.S. are drawing down crude stocks, but gasoline produced is not seeing expected strong demand as the summer driving season heads to a close, said Matt Smith, director of commodities, Clipper Data. On the New York Mercantile Exchange crude futures for September delivery rose 0.24% to $46.89, while on London's Intercontinental Exchange, Brent gained 0.44% to $50.49 a barrel. Overnight, crude futures settled lower on Wednesday, as data showing U.S. crude production rose to its highest in over two years offset a decline in supplies of U.S. crude for a seventh-straight week. Crude oil fell for the third-straight day, after a report from the Energy Information Administration showing crude stockpiles fell by more than expected last week failed to offset concerns over a rise in production.Inventories of U.S. crude fell by roughly 8.9m barrels in the week ended Aug 11, confounding expectations of a draw of about only 3m barrels. It was seventh-straight week of falling crude inventories.Gasoline inventories, one of the products that crude is refined into, unexpectedly rose by roughly 22,000 barrels against expectations of a draw of 1.1m barrels while distillate stockpiles rose by 702,000 barrels, compared to expectations of a decline of 572,000 barrels.

Oil prices edged up on Wednesday on a fall in U.S. crude inventories, although markets were still being weighed down by general oversupply. Brent crude futures LCOc1 were at $51.02 per barrel at 0218 GMT, up 22 cents or 0.4 percent from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $47.70 a barrel, up 15 cents, or 0.3 percent. U.S. crude inventories fell by 9.2 million barrels in the week to Aug. 11 to 469.2 million, industry group the American Petroleum Institute said on Tuesday. That compared with analyst expectations for a decrease of 3.1 million barrels. "The market took this as a mildly bullish report," said William O'Loughlin, investment analyst at Rivkin Securities. However, gasoline stocks climbed by 301,000 barrels, compared with analyst expectations in a Reuters poll for a 1.1 million barrel decline. Energy Information Administration data will be published late on Wednesday.

More broadly, analysts said ample supplies were preventing prices from moving much higher. "It is the ongoing fundamental issue of excessive supply that is continuing to weigh on oil prices... Not a lot has

changed despite the OPEC and Russia efforts recently. While these producers have tried to limit their oil output, U.S. shale oil continues to rise. The Organization of the Petroleum Exporting Countries together with Non-OPEC producers like Russia has pledged to restrict output by 1.8 million barrels per day between January this year and March 2018.

Oil prices steadied in early Asian trade on Tuesday after sharp falls the session before when a stronger U.S. dollar and a drop in Chinese refining runs hit the market. Global benchmark Brent crude futures LCOc1 were up 6 cents, or 0.12 percent, at $50.79 at 0122 GMT. That was just above their 100-day moving average, briefly breached in the previous session. U.S. West Texas Intermediate crude futures CLc1 were also up 6 cents, or 0.13 percent, at $47.65 a barrel. Oil prices tumbled more than 2.5 percent on Monday in volatile trade. oil refineries operated in July at their lowest daily rates since September 2016, official data showed on Monday, to ease brimming inventories as state-owned oil giants faced off independents in a retail petrol price war. Analysts said the drop was steeper than expected, exacerbating concerns that a glut of refined fuel products could weaken Chinese demand for oil. dollar firmed on Tuesday after North Korea's leader signalled that he would delay plans to fire a missile near Guam, further easing tensions and prompting investors to move back into riskier assets. prices had earlier on Monday been supported by reports that Libya's top oilfield had cut its output by 30 percent on security concerns. by the Organization of the Petroleum Exporting Countries and other oil producers to limit output have helped lift Brent past $ 50 a barrel, but concerns remain that these efforts could be undermined by producers in the U.S. and other countries. U.S. shale oil production is expected to grow for its ninth consecutive month in September to 6.15 million barrels per day, the U.S. Energy Information Administration said on Monday.

Oil prices were flat on Monday, falling early on worries about Chinese demand but then recovering from session lows on questions about potential reductions in crude supply from Libya. Libya's National Oil Corporation said an investigation had been opened into recent security violations at Sharara oil field. The NOC did not specify whether the violations had affected output at the country's largest field, which has been producing about 270,000 barrels a day. Workers at Libya's Zueitina export terminal threatened to block a tanker due to dock on Saturday unless demands for salary and overtime payments are met. "It is back to the Libyan situation being the most important thing here," said Bob Yawger, director of energy futures at Mizuho in New York. "You have Libyan barrels off the market, so supply is not what it was at this time last week. Prices retraced all their losses, then see-sawed within a few cents of unchanged.

Global benchmark Brent crude futures LCOc1 were at $51.73 a barrel by 11:21 a.m. EDT, down 37 cents from Friday's close. They touched a low of $ 51.60 earlier in the session.

BASE METAL’S OUTLOOK : Trading Ideas: ALUMINIUM ➢ Aluminium trading range for the day is 127.9-136.9. ➢ Aluminium prices rallied as Chinese capacity cuts extend to the sector in Beijing's drive to clean up its skies ahead of the winter heating season. ➢ Aluminium stocks at three major Japanese ports rose 3 percent to 268,000 tonnes by end-July compared with the previous month. ➢ China Hongqiao Group clarified in a notice to the Hong Kong Exchange that it has shut down 2.68 million tonnes of production capacity amid the country's supply-side reforms.

NICKEL ➢ Nickel trading range for the day is 654.2-709.6. ➢ Nickel prices rallied tracking rise in other base metals supported by expectations of strong global demand and tight supplies. ➢ China's strong economic growth showed visible signs of fading in July as lending costs rose and the gravity-defying property market cooled.

ZINC Zinc trading range for the day is 183.1-208.9. ➢ Zinc prices rose as Chinese infrastructure demand that has fed a rally in steel prices for months spills into markets for steelmaking raw materials. ➢ The rally in zinc, comes as China steps up plans to develop infrastructure while capacity cuts in its steel industry reform boost prices. ➢ Supporting prices was a fall in on-warrant zinc available to the market at LME-registered warehouses of 5,500 tonnes, to 149,700 tonnes.

BASE METAL ✍ ZINC - ( 20 - AUG - 2017 ) Zinc surged above $3,000 a metric ton for the first time in almost a decade while aluminum approached a three-year high, adding momentum to a metals rally fueled by bets on tightening supplies and robust demand. Zinc jumped as much as 5.8 per cent to $3,132.50 a ton on the London Metal Exchange, the highest since 2007, before settling at $3,119 at 5:51 p.m. in London. Aluminum rose as much as 2.7 per cent to the highest since September 2014, while nickel, copper and lead also advanced. The rally boosted

mining shares, with Freeport-McMoRan Inc. among the biggest gainers. ✍ ALUMINIUM - ( 20 - AUG - 2017 ) Aluminium prices were higher by 2.16 per cent to Rs 132.40 per kg in futures trade today as speculators built up fresh positions, driven by pick up in demand at the spot market. At the Multi Commodity Exchange, aluminium for delivery in September went up by Rs 2.80, or 2.16 per cent to Rs 132.40 per kg in business turnover of 492 lots. Similarly, the metal for delivery in August was trading higher by Rs 2.75, or 2.13 per cent to Rs 131.70 per kg in 986 lots. Analysts said fresh positions created by participants on the back of rise in demand from consuming industries in the spot market, mainly attributed the rise in aluminium prices at futures trade. ✍ ZINC - ( 19 - AUG - 2017 ) Zinc prices surged by 2.49 per cent to Rs 191.30 per kg in futures trade today as speculators built up positions following uptick in demand in the spot market. At the Multi Commodity Exchange, zinc for delivery in August rose by Rs 4.65, or 2.49 per cent to Rs 191.30 per kg in business turnover of 4341 lots.

Likewise, the metal for delivery in September contracts was trading higher by Rs 4.50, or 2.40 per cent to Rs 191.90 per kg in 335 lots. Analysts said fresh positions created by traders due to pick up in demand from consuming industries in the spot market, mainly led to the rise in zinc prices at futures trade. ✍ COPPER - ( 18 - AUG - 2017 ) Copper futures traded 0.23 per cent lower at Rs 416.40 per kg today as participants indulged in reducing positions, tracking a weak trend in base metals overseas. Besides, subdued demand from consuming industries in the spot market weighed on prices. At the Multi Commodity Exchange, copper for delivery in far-month November declined by 95 paise or 0.23 per cent to Rs 416.40 per kg in a business turnover of 61 lots. The metal for delivery in current month too fell by 70 paise, or 0.17 per cent, to trade at Rs 410.35 per kg in a business volume of 592 lots. Globally, copper for three-month delivery declined 0.3 per cent to settle at USD 6,379 per tonne on the London Metal Exchange in yesterday's trade. Analysts said trimming of positions by traders on the back of a weak trend in metal overseas in a reaction to a stronger dollar and a series of disappointing economic reports from China, mainly weighed on copper futures here. ✍ NICKEL - ( 17 - AUG - 2017 ) Nickel prices eased by 0.86 per cent to Rs 657 per kg in futures market today as traders cut down their bets, driven by subdued demand from consuming industries in the spot markets. At the Multi Commodity Exchange, nickel for delivery in August drifted lower by Rs 5.70 or 0.86 per cent to Rs 657 per kg in business turnover of 1,391 lots. On similar lines, the metal for delivery in September contracts shed Rs 5.50 or 0.82 per cent to Rs 662.10 per kg in 54 lots. Analysts said the fall in nickel prices in futures trade is mostly attributed to tepid demand from alloy-makers at the domestic spot markets.

� COPPER - ( 16 - AUG - 2017 ) Copper prices softened by 0.30 per cent to Rs 409.30 per kg in futures trade today as speculators offloaded their positions amid sluggish demand at the domestic spot markets even as it strengthened overseas. At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.25, or 0.30 per cent to Rs 409.30 per kg in business turnover of 965 lots. Similarly, the metal for delivery in farmonth November contracts eased by 95 paise, or 0.23 per cent to Rs 415.95 per kg in 26 lots. Analysts attributed the fall in copper futures to weak trends at the domestic markets owing to slackened demand from consuming industries coupled with profit-booking. However, a firm trend on the London Metal Exchange where copper prices hit two-year peaks as soaring steel and iron ore prices in China brightened the outlook for growth and industrial demand in the world's largest metals consumer, capped the fall at futures trade here, they added. Globally, copper for three-month delivery ended higher 0.7 per cent at USD 6,414 per tonne at the LME. � ZINC- ( 16 - AUG - 2017 ) Zinc futures fell 0.19 per cent today as participants cut down their bets on a weak trend in base metals in the spot markets due to profit-booking at current levels amid weak demand from consuming industries at the spot markets. At the Multi Commodity Exchange, zinc for delivery in August contracts was trading lower by 35 paise, or 0.19 per cent, to Rs 182.90 per kg, with a business turnover of 777 lots. The metal for delivery in September fell by 30 paise, or 0.16 per cent to trade at Rs 13.45 per kg in a turnover of 12 lots. Traders said the fall in zinc prices in futures trade was mostly in tandem with a weak trend in the base metals pack at the physical markets on weak demand. � LEAD - ( 15 - AUG - 2017 ) Lead prices were down 0.36 per cent to Rs 150.30 per kg in futures trading today as participants reduced their exposure on the back of subdued demand from consuming industries in the spot market. At the Multi Commodity Exchange, lead for delivery in August declined by 55 paise, or 0.36 per cent to Rs 150.30 per kg in business turnover of 419 lots. Metal for delivery in September contracts fell by a similar margin to trade at Rs 151.55 per kg in four lot s. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

NICKEL FUTURES DOWN ON PROFIT-BOOKING - ( 15 - AUG - 2017 ) Nickel futures traded 0.42 per cent down at Rs 656.20 per kg today as participants cut down their holdings to book profits at current levels. Besides, sluggish demand from alloy-makers in the domestic spot market too weighed on metal prices. At the Multi Commodity Exchange, nickel for delivery this month contracts shed Rs 2.80, or 0.42 per cent, to Rs 656.20 per kg in a business turnover of 208 lots.

Also, metal for delivery in the September fell by Rs 2.70, or 0.41 per cent to trade at Rs 661 per kg in five lots. Market analysts said the fall in nickel prices was mostly due to profit-booking by participants at

existing levels amid low demand at the domestic market from alloy-makers.

COPPER FUTURES MARGINALLY DOWN ON WEAK DEMAND - ( 14 - AUG - 2017 ) Copper prices moved down by 0.30 per cent to Rs 405.50 per kg in futures trade today as speculators cut down their bets amid muted demand at spot markets. Copper for delivery in August shed Rs 1.20, or 0.30 per cent, to Rs 405.50 per kg in a business turnover of 247 lots at the Multi Commodity Exchange.

Likewise, the metal for delivery in November traded lower by Rs 1.05 or 0.25 per cent to Rs 412.10 per kg in 14 lots. Analysts said offloading of positions by speculators amid a low demand at domestic spot markets mainly led to fall in copper prices at futures trade here. ✍ COPPER - ( 14 - AUG - 2017 ) Copper prices moved down by 0.35 per cent to Rs 410.80 per kg in futures trade today as speculators indulged in reducing their positions amid low demand at the spot markets.Besides, profit-booking kept pressure on metal prices. At the Multi Commodity Exchange, copper for delivery in August fell by Rs 1.45, or 0.35 per cent, to Rs 410.80 per kg, in a business turnover of 777 lots. Likewise, the metal for delivery in far-month November traded lower by Rs 1.35, or 0.32 per cent, to Rs 417.10 per kg in eight lots. Analysts attributed the fall in copper prices at futures trade to a weak demand at the domestic spot markets amid profit-booking at higher levels, led to the decline in copper prices in futures trade. ✍ NICKEL - ( 14 - AUG - 2017 ) Nickel prices declined by 0.39 per cent to Rs 683.40 per kg in futures trade today as speculators cut down their bets, driven by easing demand in the spot market. At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 2.70, or 0.39 per cent, to Rs 683.40 per kg, in a business turnover of 10 lots. Likewise, the metal for delivery in current month shed Rs 1.60, or 0.23 per cent, to Rs 679.80 per kg in 524 lots. Analysts said offloading of positions by participants on the back of sluggish demand from alloy-maker in the spot market and profit-booking, mainly influenced nickel prices at futures trade.

NCDEX - WEEKLY MARKET REVIEW FUNDAMENTAL UPDATES OF NCDEX MARKET ✍ CRUDE PALM OIL - ( 20 - AUG - 2017 ) Crude palm oil prices drifted lower by 0.66 per cent to Rs 494.70 per 10 kg in futures trade today as traders booked profits amid easing demand at the spot market. Besides, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend. At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 3.30, or 0.66 per cent to Rs 494.70 per 10 kg in business turnover of 107 lots. Likewise, the oil for delivery in September contracts was trading lower by Rs 3.20, or 0.64 per cent to Rs 496.40 per 10 kg in 82 lots. Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market against ample stocks position

mainly weighed on crude palm oil prices. ✍ CHANA - ( 20 - AUG - 2017 ) Chana prices fell by 1.19 per cent to Rs 5,470 per quintal in futures trade today as speculators booked profits amid fall in demand in the spot market. In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in September fell by Rs 66, or 1.19 per cent to Rs 5,470 per quintal with an open interest of 16,880 lots. Likewise, the oil for delivery in October declined by Rs 48, or 0.88 per cent to Rs 5,382 in 13,350 lots. Analysts said besides profit-booking by participants at prevailing higher levels, easing demand at the spot market against ample stocks position mainly weighed on chana prices at futures trade. ✍ REFINED SOYA OIL - ( 19 - AUG - 2017 ) Refined soya oil prices moved down by 0.47 per cent to Rs 639.60 per 10 kg in futures market today as speculators reduced exposure amid subdued demand in the spot market against ample stocks. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 3, or 0.47 per cent to Rs 639.60 per 10 kg with an open interest of 12,090 lots. On similar lines, the oil for delivery in September contracts shed Rs 2.85, or 0.44 per cent to Rs 647.75 per 10 kg in 52,830 lots.

Analysts said offloading of positions by traders owing to sluggish demand in the physical market against adequate stocks position, led to decline in refined soya oil prices at futures trade. ✍ MENTHA OIL - ( 19 - AUG - 2017 ) Mentha oil prices flared up by 2.61 per cent to Rs 1,195.60 per kg in futures trade today as speculators built up fresh positions amid pick up in demand from consuming industries in the spot market. Besides, tight stock position on fall in arrivals from major producing belts of Chandausi in Uttar Pradesh supported the upmove. At the Multi Commodity Exchange, mentha oil for delivery in August shot up by Rs 30.40, or 2.61 per cent to Rs 1,195.60 per kg in business turnover of 557 lots. In a similar fashion, the oil for delivery in September contracts traded higher by Rs 30.20, or 2.57 per cent to Rs 1,207.10 per kg in 116 lots. Analysts said fresh positions created by participants on the back of pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, mainly pushed up mentha oil prices at futures trade. ✍ CARDAMOM - ( 19 - AUG - 2017 ) Cardamom prices went up by 0.28 per cent to Rs 1,176 per kg in futures trading today as participants built up fresh positions, tracking a firm trend at spot markets on strong domestic as well as export demand. At Multi Commodity Exchange, cardamom for delivery in September rose by Rs 3.30, or 0.28 per cent to Rs 1,176 per kg in business turnover of 93 lots. On similar lines, the spice for delivery in October contracts was trading higher by Rs 2.70, or 0.24 per cent to Rs 1,135.50 per kg in 5 lots. Analysts said fresh positions created by traders, taking positive cues from spot market on strong domestic as well as exports

demand against tight stocks position on fall in supplies from producing regions, supported the upside in cardamom prices at futures trade. ✍ CASTOR SEED - ( 18 - AUG - 2017 ) Castor seed futures on National Commodities and Derivatives Exchange (NCDEX) witnessed the highest single day jump on Wednesday since March this year supported by highest ever monthly export volume of castor meal and reports of crop damage due to heavy rains in Gujarat. The benchmark castor seed contract on NCDEX for September delivery was up more than 3.21 % or Rs 147 today to trade at Rs. 4,727 per quintal, its highest level in four and half months. India's castor meal exports in June was revised to 1,19,315 tonnes from 62,516 tonnes in data released by the Solvent Extractors' Association of India recently. The export volume for July was not updated in the recent release by SEA but the exports are expected to be good. The revised export data for castor meal in June is highest ever recorded for a single month. ✍ MENTHA OIL - ( 18 - AUG - 2017 ) Mentha oil prices drifted lower by 0.80 per cent to Rs 1,152 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand from industries at the spot market. Besides, ample stocks position on higher supplies from producing regions too influenced mentha oil prices. At the Multi Commodity Exchange, mentha oil for delivery this month traded lower by Rs 9.40, or 0.80 per cent, to Rs 1,152 per kg, in a business turnover of 638 lots. On similar lines, the oil for delivery in September declined by Rs 7.50, or 0.64 per cent, to Rs 1,166.50 per kg in 99 lots. Analysts said offloading of positions by participants due to subdued demand from consuming industries at the spot market against ample stocks position on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade. ✍ CARDAMOM - ( 18 - AUG - 2017 ) Cardamom prices fell 0.95 per cent to Rs 1,085 per kg in futures trade today as speculators booked profits at prevailing levels amid easing demand in the spot market.Besides, sufficient stocks on higher arrivals from the major producing regions too weighed on the prices. At the Multi Commodity Exchange, cardamom for delivery in September contract fell by Rs 10.40, or 0.95 per cent, to Rs 1,085 per kg, in a business turnover of 53 lots. Similarly, the spice for delivery in October edged down by Rs 7.80, or 0.74 per cent, to Rs 1,045.90 per kg, with trading volume of just one lot. Marketmen said besides profit-taking by speculators at existing levels, increased arrivals from producing regions, mainly put pressure on cardamom prices in the futures market. ✍ CRUDE PALM OIL - ( 18 - AUG - 2017 ) Crude palm oil prices were higher by 0.68 per cent to Rs 486.60 per 10 kg in futures trade today as traders created fresh positions, supported by pick up in demand at the spot market. Moreover, a tight stock

position because of fall in supplies from producing belts fuelled the uptrend. At Multi Commodity Exchange, crude palm oil for delivery in August rose by Rs 3.30, or 0.68 per cent, to Rs 486.60 per 10 kg, in a business turnover of 170 lots. Similarly, the oil for delivery in September month went up by Rs 3.10, or 0.64 per cent, to Rs 486.80 per 10 kg in 121 lots. Analysts said building up of positions by participants driven by pick-up in demand at the spot market against restricted supplies from producing regions mainly kept crude palm oil prices higher in futures trade. � TURMERIC- ( 18 - AUG - 2017 ) Turmeric prices were up by 0.59 per cent to Rs 7,744 per quintal in futures trade today on account of uptick in domestic as well as exports demand. Besides, restricted supplies following damage to crops due to heavy rains too fuelled the uptrend. At the National Commodity and Derivatives Exchange, turmeric for delivery in current month was trading higher by Rs 46, or 0.59 per cent, to Rs 7,744 per quintal, with an open interest of 6,715 lots. Similarly, the spice for delivery in September contract increased by Rs 38, or 0.48 per cent, to Rs 7,832 per quintal in 12,420 lots. Analysts said fresh positions created by traders following an upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions, mainly pushed up turmeric prices at futures trade.

CHANA FUTURES UP 1.52% ON SPOT DEMAND - ( 18 - AUG - 2017 ) Chana prices spurted by 1.52 per cent to Rs 5,152 per quintal in futures trade today as participants created fresh positions, driven by rising demand from dal mills in the spot market. At the National Commodity and Derivatives Exchange, chana for delivery in October increased by Rs 77, or 1.52 per cent to Rs 5,152 per quintal with an open interest of 12,270 lots. Likewise, the commodity for delivery in September shot up by Rs 60, or 1.17 per cent, to Rs 5,182 per quintal in 15,860 lots. Analysts said fresh positions built up by traders due to rising demand from dal mills in view of festive season amid restricted supplies from producing belts, mainly pushed up chana prices at futures trade.

REFINED SOYA OIL FUTURES SOFTEN 0.41% ON SLUGGISH DEMAND - ( 17 - AUG - 2017 ) Refined soya oil prices moved down by 0.41 per cent to Rs 636 per 10 kg in futures trading today as speculators reduced their exposure amid subdued demand in the spot market against ample stocks position. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August month fell by Rs 2.60, or 0.41 per cent to Rs 636 per 10 kg with an open interest of 33,390 lots. Likewise, the oil for delivery in September month contracts shed Rs 2.35, or 0.36 per cent to Rs 642.65 per 10 kg in 48,790 lots. Analysts said cutting down of positions by traders on the back of easing demand in the spot market against adequate stocks position mainly weighed on refined soya oil prices in futures trade.

AMPLE STOCKS DRAG WHEAT FUTURES DOWN BY 0.78% - ( 16 - AUG - 2017 ) Wheat prices were lower by 0.78 per cent to Rs 1,654 per quintal in futures trade today as speculators

reduced their exposure amid sufficient stock position at the spot market. At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 13, or 0.78 per cent, to Rs 1,654 per quintal with an open interest of 9,230 lots. Likewise, the wheat for delivery in August contracts traded lower by Rs 12, or 0.73 per cent, to Rs 1,633 per quintal in 12,930 lots. Analysts said trimming of positions by traders, triggered by sufficient stockists position on increased supplies in the physical market against lower demand from flour mills, mainly influenced wheat prices at futures trade.

CARDAMOM FUTURES SLIDE 0.78% ON LOW DEMAND - ( 16 - AUG - 2017 ) Cardamom prices eased 0.78 per cent to Rs 1,098 per kg in futures trade today as speculators cut down their positions, tracking a weak trend at spot markets on muted demand. In futures trading at the Multi Commodity Exchange, cardamom for delivery in September month declined by Rs 8.60, or 0.78 per cent to Rs 1,098 per kg in business turnover of 19 lots. Analysts said offloading of positions by participants owing to subdued demand in the physical markets against adequate stocks mainly weighed on cardamom prices in futures trade.

TEPID DEMAND DRAGS CRUDE PALM OIL FUTURES DOWN BY 0.21% - ( 15 - AUG - 2017 ) Crude palm oil prices softened by 0.21 per cent to Rs 480.50 per 10 kg in futures trade today, as speculators reduced their exposure amid sluggish demand in the spot market against adequate stock position. At Multi Commodity Exchange, crude palm oil for delivery in August declined by Re 1, or 0.21 per cent to Rs 480.50 per 10 kg in business turnover of 14 lots. Similarly, the oil for delivery in September contracts shed 80 paise, or 0.17 per cent, to Rs 480.50 per 10 kg in 9 lots. Analysts said trimming of positions by traders following easing demand in the spot market against ample stocks mainly led to decline in crude palm oil prices at futures trade.

MENTHA OIL FUTURES SLIP 2.04% ON PROFIT-BOOKING - ( 14 - AUG - 2017 ) Mentha oil prices drifted lower by 2.04 per cent to Rs 1,158 per kg in futures market today as speculators booked profits, driven by fading demand from consuming industries at the spot markets. Ample stocks position on higher supplies from producing regions also fuelled the downtrend. At the Multi Commodity Exchange, mentha oil for delivery in September month fell by Rs 24.10, or 2.04 per cent, to Rs 1,158 per kg in business turnover of 97 lots. On similar lines, the oil for delivery in August month contracts traded lower by Rs 22.70, or 1.94 per cent to Rs 1,147 per kg in 529 lots. Marketmen said besides profit-booking by participants, decline in demand from consuming industries at existing levels in spot market and ample stocks position on higher supplies from Chandausi in Uttar Pradesh pulled down mentha oil prices in futures trade.

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