Ncdex Tips

According to market sources, turmeric in the Nizamabad mandi stood at Rs 5,100 per quintal and the arrivals reported at 700 bags.

Turmeric price quoted in the Erode mandi at Rs 5,500 per quintal, up Rs 300 and arrivals reported at 5,000 bags. The Salem variety traded at Rs 6,000 per quintal.

In the Nanded mandi of Maharashtra, select quality quoted at Rs 6000 per quintal. The Powder quality traded in the range of Rs 4,500-5,000 per quintal.

The NCDEX Turmeric December contract moved in the range of Rs 5,118-5,010 per quintal and is currently trading at Rs 5,054, down by Rs 58 or 1.13% over the last close.

NCDEX Tips

The MCX Silver futures broke above Rs 61000 per kg levels today as a good amount of fresh buying helped the metal amid mostly positive movement in global risky assets. The US dollar slipped as US Congressional leaders met with President Barack Obama on Friday and said they would work to find common ground on taxes and spending. This boosted hopes that the world's largest economy would be successfully able to combat with the looming "fiscal cliff". Gains in other industrial commodities like Copper and Crude oil also boosted the metal. COMEX Silver futures are trading at $32.60, up 2.3 cents or 0.73% on the day.

Silver futures extended a downward run from its highs near $35 per ounce achieved in the first week of October 2012. LME Copper tested its two-month lows and kept Silver in tight ranges. Silver is linked directly to industrial activity and safe haven demand and a drop in copper is normally supposed to have a negative influence on the white metal. The commodity tested its two-month lows near $30 per ounce and closed at $32.37, up nearly 5% on the fortnight. The prices have been locked in a broad range of $30-35 per ounce over last few days and a break on the either side is needed for further direction.

Precious metals consultancy GFMS estimates that industrial demand for silver fell 6% in 2012, driven by weak economic growth in developed countries. Manufacturers continued to find ways to substitute cheaper raw materials in place of silver. Meanwhile, consumers have cut purchases of silverware and shifted away from costly precious metals in their jewelry purchases. The trend was partially offset by rising sales in emerging markets, particularly China, GFMS said. While the industrial demand dropped, silver mine supply rose for the 10th consecutive year in 2012, and is expected to total 797.0 million ounces, up 4.3% from 763.8 million ounces in 2011, according to the consultancy.

The white metal had neared $32.30 per ounce levels earlier in the session but edged up quite impressively thereafter, adding one full dollar during the day. The Asian equities added good gains following a near 1.5% surge in Japanese stocks while the European stocks are also up by nearly 1%. MCX Silver futures are trading at Rs 61038, up Rs 168 or 0.26% on the day. The open interest in the counter is up nearly 4% - indicating fresh buying.

NCDEX Tips

Bullish trend is likely to continue in barley futures on the back of strong feed demand along with weak global production estimates. The NCDEX Barley futures augmented by more than1% in the last trading.
Mounting demand of poultry industries during the winter season might maintain strong gains in barley market. Moreover, weak global production might also add some gains in domestic market. As per the latest report from United States Department of Agriculture (USDA) , the total barley production in 2012-13 is estimated at 130.7 million tonnes , down almost 1.5% from the last year . This is mainly due to weak production estimated in Australia and Russia.
The spot prices of barley in Delhi mandi were trading in the range Rs 1150-1290 per quintal , up almost Rs 15 per quintal in the last day. While the total arrivals were remained thin in the range of 400-500 bags. The steady trend in other feed items such as Maize and Wheat might also add some gains in the barley market.
The NCDEX November Barley contract added almost Rs 15 per quintal to settle at Rs 1355.50 per quintal. The contract wilted almost 30 positions in open interest indicating short covering by traders. Technically, prices are likely to gather some buying around Rs 1320-1322 per quintal while resistances are likely at Rs 1375-1380 per quintal in the short term.

Chana down at major mandies

The spot prices of Akola mix were reported at Rs 4625-4675 per quintal and Chapa quality were at Rs 4825 per quintal, down Rs 25 from the previous day. The total daily arrivals were hovering at the levels of around 28000 bags in the entire major mandies.
Arrivals At Major Producing States : 

State	Arrivals ( in Bags)
Maharashtra	4000
Madhya Pradesh	8000
Uttar Pradesh	5000
Rajasthan	5000
Others	6000
Total	28000

NCDEX Chill Tips

  Chilli 334 prices were quoting steady at Rs 5,300-5,500 per quintal in the Guntur spot market. The total arrivals stood steady at 25,000 bags (5,000 bags of  Khammam teja).

Mandi	Variety	Prices (Rs per quintal)	changes from previous day
Guntur (Andhra Pradesh)	334	5300-5500	Steady
	Teza New	7200-7400	Steady
	Khammam Teja	7400	Steady
	No- 341	5000-6000	Steady
	No-5	5000-5800	Steady

The NCDEX Chilli December contract moved in the range of  Rs 4,934-5,020 and is currently trading at Rs 4,960 per quintal, down by Rs 38 or 0.76% per quintal.

NCDEX Tips

Maize futures witnessed bargain buying from lower levels on the back of weak production estimates of kharif crop coupled with restricted supplies in international market. The NCDEX futures swelled by almost Rs 10 per quintal today.
The latest first Kharif advance estimates of Agriculture Ministry stated the total maize kharif production for 2012-13 at 15.89 million tonnes , down 6.5% from the final estimates of 2011-12. While United States Department of Agriculture (USDA ), estimated the India's total maize production at 20 million tonnes for 2012-13 , down 1.50 million tonnes from the last year.
Similarly, the latest monthly release from United States Department of Agriculture (USDA ) stated that the global maize production in 2012-13 is projected at 839 million tonnes , down 38.7 million tonnes from last year.
The NCDEX November Futures trading at Rs 1306 per quintal, up Rs 6 per quintal from last day. Technically, prices are likely to gather some buying around Rs 1295-1301 per quintal while resistances are likely at Rs 1320-1325 per quintal in the short term.

NCDEX Jeera Tips

Jeera pared the last session's relief recovery on long liquidations. The NCDEX Jeera most active November contract ended the day at Rs 14330, down Rs 170 or 1.17% from last close. The spot Jeera quoted steady in the range of Rs 13,000-13,875 per quintal at Unjha Mandi, best quality quoted in the range of Rs 14,250-14,875 per quintal. The total arrivals slumped to 4,000 bags from 6,000 bags, while demand decreased to 6,000 bags from 6,500 bags.

Jeera recovered from the lows on Monday on short covering lead by expectation of export buying in near term amid weak stocks. Prices swelled September -October mid, lead by strong export buying. However, liquidation was witnessed at higher side as exporters stayed away due to high prices. Not much demand by stockiest and physical traders was reported at current levels as comfortable rainfall in the major Jeera producing states such as Rajasthan and Gujarat raised the prospects of bumper Jeera production in the coming year. Expectations are that export orders may still be diverted to India from the international markets due to lack of supplies from Syria on back of the ongoing civil war is expected to cushion prices at lower levels.

Jeera settled up 0.52% on last day, after correcting 8% to Rs 14,300 in two weeks, from the high of Rs 15,700 level. The contract fell back on Tuesday with counter hitting the low at Rs 14,262 and ended the day at Rs 14330, down Rs 170 or 1.17% from last close. The open interest declined 543 positions, indicating long liquidations.