com
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EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
19-12-2014
581
579
577
575
573
571
569
567
565
SYBEANIDR
19-12-2014
3340
3320
3300
3280
3260
3240
3220
3200
3180
RMSEED
19-12-2014
3990
3970
3950
3930
3910
3890
3870
3850
3830
JEERAUNJHA
19-12-2014
12650
12500 12400
12300
DHANIYA
19-12-2014
13700
13600 13500
13400
CASTORSEED
19-12-2014
4500
4480
4460
4440
4420
4000
3980
3960
3940
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
19-12-2014
592
588
584
579
575
571
568
564
560
SYBEANIDR
19-12-2014
3390
3350
3310
3280
3240
3200
3160
3120
3080
RMSEED
19-12-2014
4060
4030
4000
3980
3940
3900
3870
3840
3810
JEERAUNJHA
19-12-2014
13000
12800 12700
12500
DHANIYA
19-12-2014
14300
14100 13900
13700
CASTORSEED
19-12-2014
5050
5020
4960
4930
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4990
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4900
4870
4840
4810
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
28-11-2014 128
127
126
125
124
123
122
121
120
COPPER
28-11-2014 408
406
404
402
400
398
396
394
392
CRUDE OIL
19-11-2014 4170
4150
4130
4110
4090
4070
4050
4030
4020
GOLD
05-12-2014 26000
25900
25800
25700
25600
25500
25400
25300
25100
LEAD
28-11-2014 130
129
128
127
126
125
124
123
122
258
256
254
252
250
248
246
244
NICKEL
1030
1010
990
970
950
930
910
890
28-11-2014 1050
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
28-11-2014 134
132
130
128
126
124
122
120
118
COPPER
28-11-2014 416
413
410
407
404
400
397
394
391
CRUDE OIL
19-11-2014 4260
4220
4180
4140
4100
4060
4020
3980
3940
GOLD
05-12-2014 26500
26200
25900
25700
25500
25200
25000
24800 24600
LEAD
28-11-2014 133
131
129
127
125
123
121
119
117
NATURAL GAS
24-11-2014 265
262
258
255
251
248
244
240
236
NICKEL
28-11-2014 1110
1080
1040
1010
970
940
900
860
820
SILVER
05-12-2014 33600
33300
33000
32700
32300
32000
31700
31400 31100
ZINC
28-11-2014 145
142
139
136
133
130
127
123
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120
PRECIOUS METALS
Gold eased on Thursday, hurt by a sharp drop in oil prices, strength in the dollar and fresh
outflows from bullion-backed funds, with traders cautious ahead of this weekend's Swiss
referendum on central bank bullion assets.
News that oil cartel OPEC had opted not to cut output in the face of falling prices knocked
benchmark Brent crude oil futures more than 4 percent to their lowest in four years.
Swiss voters go to the polls on Sunday to decide a motion that would oblige the Swiss National
Bank to hold 20 percent of its reserves in bullion, repatriate gold from overseas, and undertake
to make no gold sales.
If a 'yes' vote is passed, the Swiss central bank would have to buy about 1,500 tonnes of gold
over the next few years, analysts say.
Investment interest in gold has suffered this year from expectations that the Federal Reserve
will tighten policy before other central banks.
Higher U.S. interest rates would lift the opportunity cost of holding non-yielding bullion, and
would also benefit the dollar, in which the metal is priced Silver was down 1 percent at $16.30
an ounce.
Annual inflation in Europe's largest economy fell to its lowest level in nearly five years in
November, suggesting the risk of deflation in the wider euro zone has not yet abated.
Preliminary figures from Germany's Statistics Office on Thursday showed inflation harmonized
to compare with other European countries dropped to 0.5 percent from 0.7 percent in October,
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undershooting a consensus forecast of 0.6 percent. On the month, the cost of living was
unchanged using this measure.
BASE METAL
Copper prices slipped on Thursday, weighed down by a strong dollar, although further falls
were capped by support from monetary easing in top consumer China and an upturn in
economic sentiment in Europe while a strong dollar capped gains.
Putting pressure on prices, the dollar rose against a basket of currencies, making commodities
priced in the U.S. unit more expensive for holders of other currencies.
China's central bank refrained from draining funds from the money market on Thursday, the
first time it had held off from open market operations in four months.
Also supporting the market was data showing morale in the euro zone rose for the second
straight month in November and Germany's jobless rate hit a record low, offering tentative
signs the bloc is avoiding outright stagnation.
ENERGY
Brent crude oil plunged as much as $6.50 a barrel on Thursday, and U.S. crude fell by nearly as
much, posting the steepest one-day falls since 2011, after OPEC decided against cutting output
despite a huge oversupply in world markets.
Asked whether the oil producer group had decided not to reduce production, Saudi Arabian Oil
Minister Ali al-Naimi told reporters: "That is right."
Oil prices have fallen by more than a third since June as increasing production in North
America from shale oil has overwhelmed demand at a time of sluggish global economic
growth.
Ministers from the Organization of the Petroleum Exporting Countries had been discussing at
their meeting in Vienna whether to agree a production cut in an attempt to re balance the global
oil market.
Crude prices have been falling all week as traders and analysts scaled back expectations of an
OPEC production cut, but the sharp dive after Thursday's meeting showed the decision was not
fully priced in.
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U.S. natural gas prices plunged sharply in holiday-thinned trade on Thursday, as updated
weather forecasting models for the first week of December pointed to a return to mild weather,
prompting investors to bet that utilities and homes will burn less natural gas as demand for
heating falls.
Forecasts for milder temperatures to settle in across much of the U.S. in early December after a
blast of cold air exits weighed heavily on prices.
Bearish speculators are betting on the mild weather to dampen demand for the heating fuel. The
heating season from November through March is the peak demand period for U.S. gas
consumption
LME INVENTORIES
LME Inventories
Copper
Lead
Zinc
Aluminium
Nickel
Current Stock
161950
217900
669075
4332400
401850
Change
-175
-25
2725
-10025
1854
% Change
-0.11%
-0.01%
0.41%
-0.23%
0.46%
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Export demand (aided by a firm Dollar vs Re) supported prices. A cool temperature would be
need-ed for next few weeks for the crop to grow satisfactorily. The tempera-tures are a bit on
the higher side as of now in Gujarat as per market sources. This is creating apprehen-sions
of likelihood fall in productivity
The sowing progress in coming weeks would be important and determine the near term trend
for the commodity. An expected pick up in sowing area could prevent too strong recovery for
the commodity.
Rains earlier this year in Gujarat and Rajasthan have improved moisture content of the soil and
this can have a beneficial impact on the sowing of new crop that has started. However a cool
climate would be needed for better crop productivity. Effect of Dollar vs Re would be
important in medium term when exports pick up. But till that hap-pens some more dips not
ruled out .Good quality produce have ensured Jeera rates are fetching premium w.r.t.
International markets. Low stocks in global trade and political unrest in Turkey and Syria have
pushed export demand to India. India will remain the primary export-er for this commodity as
of now. Jeera production in India is ex-pected to rise to 6.5-7 million bags of 55 kg each in
2014, from 4.5-5 million bags a year earlier, due to an expanded area under cultivation and
favourable weather conditions.
CHANA
Chana traded with very high volatili-ty as the initial fall in rates was followed by short covering
by end of the day. With prices having fallen a lot over last 2-3 days, demand picked up in the
mandis. However weakness in the International markets kept pressure in the Indian market
sentiments alsopreventing any strong recovery. Bearish news in International mar-kets
affected the market sentiments adversely. As per USDA, expected pulses production in USA is
up by 8% to 2,232,630 metric tonne during 2014 from last year. On the other hand, reports
from Canada indicate chickpea production there expected to fall to 0.14 million MT in 2014-15
down from 0.18 million MT in 2013-14due to lower yield.
In Indian markets, reports of lower sowing due to prevailing low rates, good demand from
millers and Govt agencies and a rise in MSP from Rs 3100/Q to Rs 3175/Q had supported
prices. Pulses sowing falls 5.5% in Raja-sthan. As per Govt figures, Chana was sown in 11.23
ha till 17 Nov in the state, while last years figure till 13 Nov was 11.93 lakh ha. Though total
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pulses farming till 17 Novem-ber has covered near 65% of its acreage, but it is around 5.5%
less than previous years data
As per Ministry of Agriculture, rabi pulses 2014-15 coverage till Nov 21 is down by 11% to
80.74 lakh Ha as compared with last years area coverage of 91.19 lakh hectare during the
corresponding week. The area planted under chana is also down to 54.61 Lakh Ha. against
64.76 lakh ha. in same correspond-ing week during last year. As per 1st Advanced crop
estimates for 2014-15 by Govt of India, India is likely to produce Kharif Foodgrains of 120.27
million tonnes, which is down by 8.97 million tonnes from the record 129.24 million tonnes
achieved in Kharif 2013-14. Decline in area under Tur and Moong has also affected production
of Kharif Pulses which is estimated at 5.20 million tonnes as against their production of 6.02
million tonnes during Kharif 2013-14. Tur production estimated at 2.74 million tonnes and
Urad at 1.15 million tonnes.
SOYABEAN
Higher production reports in the International markets kept trend slight weak for Soybean even
as good demand in the Indian market limited the fall.
Improved International production forecasts had been keeping senti-ments weak there. Traders
expect downtrend to be limited however as domestic demand is expected to improve in coming
weeks for the good quality produce. Soybeans rebounded from the lowest price in more than a
week after a government report showed increasing demand for supplies from the U.S., the
worlds top grower.
Soybeans inspected for export jumped 25% to a record 3.113 million metric tons for week
ended Nov 13, with more than 78% headed to China, the biggest consumer, as per USDA.
Demand from domestic processors in October topped analyst estimates. U.S. farmers are
finalizing a record soybean harvest, with production seen rising to 107.7 million tons from 91.4
million tons, as per USDA. Soybean production is forecast at 3,958 million bushels, up 31
million on higher yields. The soybean yield is projected at a record 47.5 bushels per acre, up
0.4 bushels mainly on gains for Iowa and South Dakota. Soybean supplies for 2014/15 are
projected 1 percent above the October forecast. U.S. soybean exports for 2014/15 are raised 20
million bushels to 1,720 million reflecting the record pace of export sales through late October.
Soybean crush is raised 10 million bushels to 1,780 million mostly due to increased soybean
meal exports.
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REFI. SOYA
Ref Soy Oil traded with high volatili-ty as overall market sentiments remained slight positive
but prices continued to find strong psychologi-cal Resistance at the 600 level. India imported
11.62 million tonnes of edible oil during Sep-Oct 2013/14 compared to 10.68 million tonnes
during the same period previous season, stated the Solvent Extrac-tors' Association (SEA).
Indias 2013/14 soyoil imports stood at 1.95 Mn T against 1.09 Mn T in 2012/14 season. Palm
oil purchases were slightly lower at 7.29 Mn T against 8.29 Mn T last season. Sunflower oil
imports were recorded at 1.51 Mn T against 0.97 Mn T in 2012/13.
Reports on apprehensions of India considering raising import taxes on crude and refined
vegetable oils to protect local farmers and the refin-ing industry kept trend firm in Indian
markets In order to improve realizations for farmers and to bring in transparency in soybean
selling, the MP govern-ment has introduced sample-based auction for the commodity. The pilot
project will be implemented at Ujjain, one of the biggest mandis (wholesale agricultural
markets) in Madhya Pradesh, and once the new system is found to be successful, it will be
extended to 10 other mandis. The sample-based auction will not only save post-harvest losses,
but also encourage farmers to produce fair average quality commodities that ensure better
return on their yield. Madhya Pradesh has been the biggest producer of soybean. World
production of eight vegetable oils is expected to climb to 168.4 million tons from 165.1 million
tons, Oil World said. Ending stocks are forecast to drop to 22 million tons at the end of
September 2015 from 22.6 million tons a year earlier. Output of eight oilseed meals may jump
to 294 million tons from 283.8 million tons, with ending stocks seen rising to 9.6 million tons
from 9 million tons.
RM SEED
A fall in other Oil complex kept trend weak for RMSeed as more corrections were noted after
the recent strong recovery in rates. Traders however anticipate further fall may be limited in the
coming weeks as demand expected to rise.
European Union rapeseed output rose to 22.5 million tons this year from 20.9 million tons,data
from the 28-nation bloc show. Gains for EU are partly offset by a reduction for Australia where
dry conditions in the southeast have reduced yield prospects. Global sunflowerseed production
is reduced 0.4 million tons to 39.8 million on lower forecasts for Russia and Kazakhstan
As per Ministry of Agriculture, Rajasthan area coverage in Rabi season 2014-15 till 17th Nov
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was 24.24 lakh ha vs 25.16 lakh ha in 2013-14. The government has set a target of 29 lakh for
this year. The fall in area was due to high temper-ature in Oct and lack of rains. Farmer are
reportedly shifting to Barley and Wheat. Crops also faced germination problem due to the high
Temperature.
Haryana area coverage in Rabi 2014-15 till 30thOct was reportedly nil while it was 2 lakh ha in
2013-14 during this time. The reason is again the high temperature during Oct. MP area
coverage in Rabi 2014-15 till 30th Oct. was 3.80 lakh ha while it was nil in 2013-14. Due to
good rains in Oct and fields being unused, early sowing was possible there. UP area coverage in
Rabi 2014-15 till 30th Oct was 4.91 lakh ha while it was nil in 2013-14 during this period. As
fields this year were unused in kharif season, so farmers had sown Mustard early in UP.
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