Agri-commodity Preview: Cardamom falls, crude palm oil rises at MCX

Cardamom prices fell by Rs 18.90 to Rs 1,050.30/kg in futures market on Tuesday as traders scaled down holdings amid sluggish demand at the spot market. The offloading positions by participants despite slow demand in the spot market against sufficient stocks position on higher supplies, is attributed to the plunge in cardamom prices at futures trade.

At the MCX, cardamom for delivery in far-month January next year fell by Rs 18.90, or 1.77%, to Rs 1,050.30/kg, in a business turnover of 1- lot. On the other hand, the spice for delivery in Nov’ moth was trading down by Rs 7.40, or 0.72%, to Rs 1,018  kg, with a trading volume of 50 lots.

Meantime, the prices of Crude palm were on higher side by 0.31 percent to Rs.539.10/ 10 kg in futures trade today, since traders generated fresh positions, aided by pickup in demand at the spot market.  In futures trading at the MCX, crude palm oil for delivery October rushed by Rs 1.70, or 0.31%, to Rs 539.10 /10 kg, in a business turnover of 55 lots. Likewise, the oil for delivery in November jumped by Rs 1.50, or 0.28%, to Rs 535.60 /10 kg in 37 lots.

Guar seed and Gum prices gain on imposed tax by Rajasthan Govt. @ NCDEX Agri Updates Moneymaker Research

Guar Seed and Gum April contract started on negative note followed by both traded mixed to positive bias and ended by posting a gain of 0.49% and 0.00% respectively On expectations of impose tax on guar complex by Rajasthan government.

Decreased in arrivals in key regions of Rajasthan supported the futures market positively. For upcoming trading session guar complex is likely to trade on range bound trend with positive bias as Rajasthan Government has decided to impose tax on guar gum which may show major impact on futures market.

@ Long Term investors can Buy Guar Seed around 2900 to 3000 targets 3300, 3500. you can hold it 2 month. 

Soybean prices a mild recover on short covering @ Latest Update by Money Maker

NCDEX Soybean futures opened the on negative note extending its yesterday’s gains on short covering Traders and investors were on buying spree in anticipation of announcement of import duty hike in the budget.

The Soybean futures are forecast to trade on a negative note during the day on emergence of selling pressure Commencement of harvesting of rabi Oil seeds will pressurize the entire Oil seeds complex including soybean. Sell on high is recommended for the today’s trading session.

 @ Buy NCDEX Soyabean April Around 3,700 Targets 3,850 Stop loss 3611