Friday, 15 February 2019

EPIC RESEARCH NCDEX Jeera UPDATE OF 15 February 2019


Jeera trading range for the day is 15385-15995.

* Jeera gained on short covering after prices dropped on account of reports of progress in harvesting activities in the main producing regions.

* Though state government has projected a decline in jeera crop in Gujarat due to lower acreage.

* In the 2nd advance estimate, cumin production in Gujarat is forecasted doen by 25% on year at 2.23 lakh tonnes for 2018/19 crop.

* In Unjha, a key spot market in Gujarat, jeera edged up by 139.85 Rupees to end at 16735.7 Rupees per 100 kg.

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EPIC RESEARCH NCDEX Turmeric UPDATE OF 15 February 2019


Turmeric trading range for the day is 6280-6432.

* Turmeric gained on the back of concerns that drought conditions and cold weather will affect the crop production.

* However, upside seen limited amid expectations of increase in arrivals at the spot markets in the coming days with better moisture content.

* There are concerns that drought conditions and cold weather will adversely affect the production.

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EPIC RESEARCH NCDEX Rmseed UPDATE OF 15 February 2019



Rmseed trading range for the day is 3891-3977.

* Rmseed ended with gains on short covering after prices dropped due to higher production estimates and subdued demand.

* All India mustard acreage for 2018-19 is reported at 34.70 lakh hectares which is 6.34 per cent lower than 2017-18 acreage of 37.05 lakh hectares.

* NCDEX accredited warehouses mustard seed stocks dropped by 605 tonnes to 3149 tonnes.


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EPIC RESEARCH NCDEX Crude palm oil UPDATE OF 15 February 2019


CPO trading range for the day is 553.6-566.6.

* Crude palm oil gained on short covering after prices dropped as traders were bearish over data showing weaker-than-expected output declines.

* According to SEA monthly update, CPO imports were up by 13.1% at 6.70 lakh tonnes in December.

* According to USDA monthly report, India imports figures are unchanged at 10.5 mt, up 22% compared to past year imports.

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EPIC RESEARCH NCDEX Soyabean UPDATE OF 15 February 2019



* Soyabean trading range for the day is 3712-3808.

* Soyabean gained on good physical demand from oil mills due to higher meal exports.

* Soybean output in Madhya Pradesh is seen rising 35.3% to 7.20 mln tn during 2018-19 (Jul-Jun).

* India, 2018-19 soybean output is projected higher at 13.45 million tons from 10.98 million tons.

* At the Indore spot market in top producer MP, soybean gained 20 Rupees to 3841 Rupees per 100 kgs.

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EPIC RESEARCH MCX Menthaoil UPDATE OF 15 February 2019


Menthaoil trading range for the day is 1583.7-1679.7.

* Mentha oil spot at Sambhal closed at 1725.60 per 1kg. Spot prices was up by Rs.15.90/-.

* Menthaoil prices dropped due to low demand at major physical centers.

* Pressure also seen amid expectations of higher acreage under mint in 2019 due to lucrative prices throughout last year.

* Actually, this time demand was high in the market and availability of Mentha Oil was low.



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EPIC RESEARCH MCX Silver UPDATE OF 15 February 2019



Silver trading range for the day is 39109-39737.

* Silver prices ended with losses as investors’ appetite for risk assets improved following more positive news on the trade front.

* The U.S. central bank held rates steady in late January and promised to be “patient” in rate moves due to impending slowdown and uncertain trade backdrop.

* Several Fed officials have indicated that they will support a pause in interest rate hikes to assess its impact on the economy.


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EPIC RESEARCH MCX Gold UPDATE OF 15 February 2019


Gold trading range for the day is 32787-33253.

* Gold prices traded in range as soft U.S. inflation data raised expectations that the Federal Reserve will pause rate hikes this year.

* Investors were looking for developments in trade talks between Washington and Beijing.

* Fed's Harker: Brexit, China, Germany among the potential headwinds for US economy
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EPIC RESEARCH MCX Naturalgas UPDATE OF 15 February 2019



Naturalgas trading range for the day is 180.7-187.9.

Natural gas dropped on forecasts for slightly less severe weather over the next two weeks and a smaller than expected storage draw.

The U.S. Energy Information Administration said utilities pulled just 78 billion cubic feet (bcf) of gas from inventories.

Meteorologists forecast the eastern half of the country would remain mild over the next two weeks.

Gas production in the Lower 48 states, meanwhile, held at 86.7 bcfd for a second day, which was off a bit from its four-week high of 86.9 bcfd.

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EPIC RESEARCH MCX Crudeoil UPDATE OF 15 February 2019



Crudeoil trading range for the day is 3737-3955.

Crude oil prices rose buoyed by hopes that the Sino-U.S. tariff dispute could end soon and as China's trade figures including crude imports beat forecasts.

Russian Energy Minister Alexander Novak said that there are risks for global oil markets from the political crisis in Venezuela.

Supply issues in OPEC-member Venezuela are also bolstering oil prices as the South American country suffers a political and economic crisis.

Novak said Russia has cut its oil production under a pact between OPEC and non-OPEC producers by 80,000-90,000 barrels per day from its level in October.


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