To curb speculation, the National Commodity and Derivatives Exchange (NCDEX) last week imposed an additional special margin on chana. The margin is effective Tuesday.
For all chana contracts, the exchange levied an additional margin of five per cent (in cash) on both buying and selling, as well as a special margin of 10 per cent (in cash) on buying. Following this, the overall cash margin on buying is 25 per cent, while that for selling is five per cent.
On Monday, chana contracts declined four per cent and hit the lower circuit on the NCDEX. October chana contracts were down 3.99 per cent to Rs 4,374/100 kg.
The sentiment was dull in physical markets, too, with demand declining, said traders. “We have witnessed a fall of Rs 550/100 kg, or about 10 per cent, in spot markets in the past week and the demand is still not encouraging,” said P Agrawal, a chana broker here.
Posted in Agricultural Products, Chana, Commodities, Derivatives Exchange, Futures, India, Indian agriculture, National Commodity and Derivative Exchange, NCDEX, Trading
Tagged Chana, chana futures, margin, NCDEX
Aiming to help hedge risks against adverse weather conditions, the National Commodity and Derivatives Exchange (NCDEX) will shortly be launching a set of exchange- traded weather insurance products. As NCDEX is currently being regulated by the Forward Markets Commission (FMC) whose norms don’t allow any such product, it is waiting for the merger of the commodities regulator with the Securities and Exchange Board of India (Sebi) to be completed by September end, before it formally unveils the product.
“We are planning to launch exchange-traded weather insurance products once the merger of FMC with the Sebi is completed,” NCDEX Managing Director and Chief Executive Samir Shah told reporters today on the sidelines of an agriculture insurance seminar organised by Swiss Re here.
The FMC’s merger with Sebi is slated to be completed by September 28.
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The castorseed futures contract traded on the National Commodity and Derivatives Exchange has surged about 4 per cent in the past week. This rally has turned the short-term outlook bullish for the contract.
Increase in demand in the domestic spot market at the time when the arrivals were restricted has aided this rise in the commodity price.
Rising export demand is also supporting the price. The contract is likely to move higher from current levels of ₹4,084 a quintal. This offers a good opportunity for traders with short-term view to initiate long position in the contract.
Posted in Agricultural Products, Castor Seed, Commodities, Exchange Prices, Futures, India, National Commodity and Derivative Exchange, NCDEX, Trading
Tagged agriculture, castor seed, NCDEX, news, views
Posted in Commodities, Derivatives Exchange, Exchange Prices, Futures, Gold, National Commodity and Derivative Exchange, NCDEX, Trading
Tagged commodities futures, Futures, growth, NCDEX, ncdex commodities
Sideways trend is likely for NCDEX Soybean futures. Milan Shah, agri research analyst at commodity Online, said Soybean August contract is sideways for short term and positive for intra day. Short term support is seen at 3550 and resistance at 3750. Intraday support is visible at 3550 3600 with a resistance of 3640.
NCDEX Soybean August futures were seen trading up by 2.78 per cent to 3659 levels on Wednesday( 11.15am).
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
BAJRA BAJRA `/QUINTAL 1308.35
BARLEY BARLEYJPR `/QUINTAL 1296.85
CASTOR SEED CASTORSEED
CHANA CHARJDDEL `/QUINTAL 2961.25
COTTON SEED OIL CAKE COCUDAKL `/QUINTAL 1594.85
COTTON SEED (INDUSTRIAL GRADE) COTTONSEED
CORIANDER DHANIYA `/QUINTAL 8939.30
GUAR GUM GUARGUM `/QUINTAL 13806.20
GUAR SEED GUARSEED `/QUINTAL 5145.15
GUAR SEED 10 MT GUARSEED10
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