NCDEX/TRADING-068/2014/163

NATIONAL COMMODITY & DERIVATIVES EXCHANGE LIMITED

Circular to all trading and clearing members of the Exchange
Circular No. : NCDEX/TRADING-068/2014/163
Date : May 20, 2014
Subject : Final Settlement Prices of contracts expired on May 20 2014
___________________________________________________________________

Final Settlement Prices of contracts expired on May 20, 2014 are given below:

COMMODITY SYMBOL PRICE
UNIT
FINAL
SETTLEMENT
PRICE (`)
BAJRA BAJRA `/QUINTAL 1308.35
BARLEY BARLEYJPR `/QUINTAL 1296.85
CASTOR SEED CASTORSEED
`/QUINTAL 3903.70
CHANA CHARJDDEL `/QUINTAL 2961.25
COTTON SEED OIL CAKE COCUDAKL `/QUINTAL 1594.85
COTTON SEED (INDUSTRIAL GRADE) COTTONSEED
`/QUINTAL 2003.65
CORIANDER DHANIYA `/QUINTAL 8939.30
GUAR GUM GUARGUM `/QUINTAL 13806.20
GUAR SEED GUARSEED `/QUINTAL 5145.15
GUAR SEED 10 MT GUARSEED10
`/QUINTAL 5145.15
JEERA JEERAUNJHA `/QUINTAL 11265.55
MAIZE MAIZERABI `/QUINTAL 1125.15
POLYVINYL CHLORIDE PVC `/MT 82000.00
RUBBER RBRRS4KOC `/QUINTAL 14365.65
MUSTARD SEED RMSEED `/QUINTAL 3484.90
YELLOW SOYABEAN MEAL SBMEALIDR `/MT 41475.00
STEEL LONG COMMERCIAL STEELCOMM `/MT 33550.00
STEEL LONG STEELLONG `/MT 36400.00
SUGAR M GRADE SUGARM200 `/QUINTAL 3130.70
SOYABEAN SYBEANIDR `/QUINTAL 4644.00
REFINED SOY OIL SYOREFIDR `/10 KGS 720.95
TURMERIC TMCFGRNZM `/QUINTAL 6161.00
WHEAT WHEAT `/QUINTAL 1548.60

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Spice News

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NCDEX – Trade Details for May 12, 2014

NCDEX, 392 members (1,660 User) participated in trading on May 12, 2014
up to 5:00 pm and volumes were Rs. 3,403 crore (one-way). There were
more than 62,942 trades put through by them. Active trades were high in
were high in Soya Oil, Soybean, Coriander, Castor seed and Chana among
others.

On May 9, 2014, 401 members (1,708 User) participated in trading and put
through more than 80,542 trades. The volume for the whole day trading till
11.30 pm was Rs. 4,318 crore (one-way). Active trades were high in Castor
seed, Chana, Soya Oil, Soybean and Coriander among others.

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Soybean Oil imports to rise on lower domestic oilseeds crushing

For the period under consideration, total edible oil imports fell 5.4% to 4.25 million tons as against 4.49 million tons in the corresponding period of last year, SEA data showed.

NEW DELHI (Commodity Online): Soybean oil imports by India this marketing year is likely to cross 1.5 million tons or 15 lakh tons due to lower domestic oilseeds crushing. Soybean oil imports during November 2013 to March 2014 rose by 112% to 5,28,286 tons compared to 2,48,728 tons imported during corresponding period of last year, the data from Solvent Extractors Association (SEA) showed.

For the period under consideration, total edible oil imports fell 5.4% to 4.25 million tons as against 4.49 million tons in the corresponding period of last year, SEA data showed.

For this year, soybean oil production is likely to be lower by around 8% as per COOIT’s estimate. “We believe this would lead to more imports as consumption is steadily growing. For the rest of the period, we expect imports to be around 1 MMT, taking marketing year imports to 1.5 MMT”, Mr. Raju Choksi, Vice-President (Agri-Commodities), Anil Nutrients Ltd. said.

Mr. Choksi said another reason for rise in imports of soybean oil is rise in palm oil prices, which contributes to more than 70% of total edible oil imports in the country. “Since last month, the spread between palm oil and soybean oil has gone down significantly, thereby encouraging soybean oil imports over palm oil” , Mr. Choksi added.

According to rabi estimate of COOIT (Central Organization for Oil Industry & Trade) for 2013-14 season, 89.8 MT of soybean will be available for crushing as compared to 97 MT that was available last year. As per second advance estimates of Government, soybean production this year is estimated at 12.45 million tonnes against 14.67 million tonnes in 2012-13.

Market update
Soybean futures are on the run for the past three months due to lower availability of the oilseed along with strength in overseas markets. Concerns of emergence of El-Nino for the 2014 monsoon season and shortage of seeds for kharif 2014 sowing has added further fuel to the already rising prices, Angel Commodities said.

The Ministry of Agriculture in its 2nd Advance Estimates, projected 2013-14 soybean output at 12.45 mn tn as against 14.67 mn tn in 2012-13.

Soy meal exports have declined in the marketing year 2013-14. According to SEA, Soy meal exports declined 19% to 2.78 mn tn y-o-y due to lower availability for crushing as well as poor demand due to unattractive Indian price quotes for the foreign buyers.

CBOT Soybean Futures corrected from higher levels on profit taking coupled with improving planting weather in the US Midwest and settled 1.01% lower on Monday. Prices gained last week on tight supplies coupled with export demand and higher crushing. According to NOPA, soybean crushing in March was reported at 153.840 mn
bushels, above expectations of 146.1 mn bushels.

The USDA monthly report forecast 2013-14 end stocks sharply lower at 135 mn bsh against market estimates of 138.591 mn bsh and previous month’s forecast of 145 mn bsh. The report forecast Brazil output at 87.5 mn tn against estimates of 87.43 mn tn and Argentina at 54 mn tn. The USDA planting intention report showed higher area to be
covered under soy beans for 2014-15 at a record high 81.493 mn acres.

International markets have remained strong since February supported by strong export demand for the bean as well as meal

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Rapeseed Output Expected to Fall

At NCDEX, 487 members (2,166 Users) participated in trading on March 14, 2012 up to 5:00 pm and volumes were Rs 125,261 crore (one-way). There were more than 7,493 trades put through by them. Active trades were high in among others Soya Oil, Rape Mustard Seed, Chana, Soyabean and Pepper.  Indian oilseeds and soyoil futures rose on Tuesday in line with a rally in overseas markets, an improvement in export demand for soymeal and as arrivals of rapeseed in the local spot markets were lower than expected. India’s rapeseed output is expected to fall.

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NCDEX Trade Details for March 13, 2012

At NCDEX, 488 members (2,118 Users) participated in trading on March 13, 2012 up to 5:00 pm and volumes were Rs 117,496 crore (one-way). There were more than 7,006 trades put through by them. Active trades were high in among others Soya Oil, Rape Mustard Seed, Chana, Soyabean and Pepper.
On March 12, 2012, 491 (2,060 Users) members participated in trading and put through more than 120,791 trades. The volume for the whole day trading was Rs.7,105 crore (one-way). Active trades were high in among others Soya Oil, Rape Mustard Seed, Chana, Soyabean and Pepper.

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Chilli Surges on Fresh Buying

Chilli futures rose on Friday on fresh buying by the traders due to limited stocks in the spot market.

Demand from overseas buyers also increasing for the upcoming festive seasons.

At NCDEX Chilli August contract is now trading at Rs.9158 per quintal, higher by 2.60% or Rs.232 against the previous close.

The contract traded at high of Rs. 9210 per quintal and a low of Rs.8860 in the early sessions. Open interest of the contract is 14490 lots so far.

Today’s arrivals are approximately around 15,000 to 20,000 bags and the NCDEX quality loose price is 7800 – 8400 Rs/Qtl.

Weak monsoon in A.P is having an impact on the Chilli sowing, till now sowing has been done in 0.14 Lakh Ha vis-à-vis 0.25 Lakh Ha previous year.

Chilli Exports for the 1st quarter of 2011-12 was at 40,500 MT as against 64,000 MT for the same period of 2010- 11.

 

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This weeks NCDEX Futures Tumbles

NCDEX Pepper Tumbles More Than 1%

Pepper futures tumbled further on weak sentiment. Pepper futures in the intraday are expected to trade sideways due to lackluster trades at the domestic market. Fresh enquires from the domestic buyers ahead of festivals might support prices in the short term (till August). However, as the prices of Indian origin are being quoted at higher levels overseas buyers might stay away from Indian market thereby restricting major upside in the prices.

Black Pepper for ready delivery in Kochi, closed Monday’s trading session (as on 8th August 2011) with negative note at Rs. 28,600, down by Rs. 100 over last close. Pepper arrivals in Kochi Mandi increased to 150 quintals on Monday as on 8th August 2011 from 100 quintals, meanwhile offtakes decreased to 150 quintals from 200 quintals as on Saturday.

Prices of Indian origin are quoting at higher levels of around $6,850-$6,875/tonne while Brazil and Indonesia are offering at lower rates. This is likely to restrict overseas buyers to India. Harvesting is progressing well in Brazil and Indonesia, this will also added some weakness in the pepper.

In today’s early trading session, pepper for the August delivery tumbled by 1.10% or Rs.317 to the session low of Rs. 28360 per 100 kg. The contract is currently hovering at Rs.28400 per 100 kg.

The next support is at Rs. 28162, Rs. 27930 and resistance is at Rs. 28610, Rs. 28800 per 100 kg.

NCDEX Turmeric plunges on subdued demand

Turmeric futures tumbled today on the back of sluggish demand from the physicalmarkets amid higher stocks.

At NCDEX Turmeric August contract is now trading at Rs.6288 per quintal, higher by Rs.234 or 3.59% against the previous close. In the morning session the contract traded at a range of Rs.6262-6452 per quintal. Open interest of the contract is 7005 lots as of now.

Low demand and reports of higher production and stocks in mandis are likely to pressurize the prices to some extent. There are expectations however of demand rising in coming weeks that could support the falling prices.

Sowing has started in the growing areas in Andhra Pradesh and the progress is reportedly satisfactory. Good Monsoon progress is also reportedly keeping the sowing activities proper. The area sown would however depend on the market rates and if the falling trend continues, traders expect the sowing area may fall as farmers may shift to other lucrative crops like cotton, soybean etc.

Jeera Slumps Nearly 4% On Weak Export Demand, Weak Spices Sector

 

Indian Jeera futures dropped further on long liquidation amid weak spices complex. The spices complex tumbled on weak global commodities on US debt worries. The NCDEX Jeera September contract ended the last session down by 2% at Rs. 15,483 after hitting the low of Rs. 15430 per 100 kg.

In today’s trading session, Jeera September delivery fell nearly 4% or Rs. 611 to the session low of Rs. 14,872 and currently hovering at Rs. 14,985, down Rs. 498 or 3.22% over the last close. The open interest dipped 0.53% to 17,856 tonnes.

The spot Jeera price traded in the range of Rs. 13,500-13,800 per quintal at Unjha Mandi, down by Rs. 200 per 100 kg. Best quality traded steady in the range of Rs. 15,000-16,000 per quintal. The total fresh arrivals surged to 4,000 bags from 6,000 bags last day (demand was reported around 4,000 bags against 6,500 bags last day).

The Jeera exports slumped by 46% to 5,750 tonnes while value dipped by 36% to Rs.7,560 lakh during April to June 2011. Forex revenue from exports of spices and spice products from India during April-June 2011 registered a rise of 21 % while the tonnage declined by 26 %.

 

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Do’s & Don’ts in Commodity Futures Market

Do not fall prey to market rumors.

Go through all Rules, Bye Laws, Regulations Circulars and directives issued by NCDEX.

Do not trade on any product without knowing the risk and rewards associated with it.

Study historical and seasonal price movements of the commodity that you wish to deal in the futures market.

Do not deal based on Bull/Bear run of commodity markets sentiments.

Ensure that the Contract Note contains all the relevant information such as Member Registration Number, Order No., Order Date, Order time, Trade No., Trade rate, Quantity, Arbitration Clause.

Do not deal with unregistered intermediaries even if their charges are lower and/or margins are lesser.

For more Do’s and Don’ts in the NCDEX Commodity Futures Market please visit the NCDEX website.

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Traders may not benefit from Wheat Export

AHMEDABAD: The government move to lift the fouryear-old ban on wheat export is unlikely to make a major impact on domestic prices as Indian prices are not at parity with global prices. Traders feel that the best parity in export of wheat will come for Rajkot traders where the prices are ruling at Rs 1,100 to Rs 1,110 at mill delivery.

“Traders in Kota and Indore are also expected to benefit as distance from these markets to Kandla port will be less. However, for traders in Uttar Pradesh’s wheat growing belt of Bareilly and Shahjahanpur, it will not be at parity owing to increased wheat prices at Rs 1,200 to Rs 1,220 per quintal excluding transportation cost,” said a Mumbaibased market trader who added that major destinations would include South Africa , Dubai and SAARC countries.

Narendra Thakkar, a grain trader from Nadiad in central Gujarat, said the prices were stable and were unlikely to increase as there was a bumper stock in the state. On the NCDEX, spot price of wheat in Rajkot was firm at Rs 1,124.15 a quintal, in Delhi it was Rs 1,193 and in Karnal it was Rs 1,333.45. On Saturday at the NCDEX, wheat future for delivery in July strengthened by 1.34% to Rs 1,183 per quintal with an open interest of 13,980 lots.

The wheat new for delivery in August weakened by 1.31% to Rs 1,208 per quintal with an open interest of 34,560 lots. India imposed the ban on wheat exports in 2007 to stabilise domestic prices and contain food inflation in the country. In 2010 wheat production touched 82.4 million tonne and rice production at 95 million tonne.

As on June 1, the country’s stock of wheat and rice stood at 65.4 million tonne and 37.8m million tonne respectively, according to the Ministry of Consumer Affairs, Food and Public Distribution. Domestic prices are stable and there is no excitement of export as international prices are weak, said Narendra Gupta, owner of LNG Agri Commodity in Delhi’s Naya Bazar market.

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