Coffee Crops In Brazil

Coffee Crops In Brazil May Reach At 47.28 Million Bags in 2015/16-Terra Forte

According to Coffee Exporters Terra Forte, Brail is expected to harvest more coffee crops at 47.28 million 60-kg bags of coffee in the 2015/16 against 46.78 million bags in 2014/15 attributed higher Arabica coffee crops estimates which may touch the level of 32.05 million bags as compared to 29.3 million bags in 2014/15. While, Robusta crops forecast is placed lower at nnbsp;15.2 million bags against 17.4 million bags in last year. nnbsp;

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Edible oil/weekly:Soybean may rise on higher demand, global supply worries

Edible oil/weekly:Soybean may rise on higher demand, global supply worries

 

   

   MUMBAI, FEB 14: Soybean may trade rise next week on higher United States soybean export number and on weak supply of the crop from United States and Brazil, indicating tight supply situation, said analysts.

  "Soybean will rise on higher demand for the crop in international market and on supply worries from US and Brazil," said Ankita Parekh an analyst with Nirmal Bang.

  Prices of the bean will be supported on improved demand from oil crusher in domestic market and in US market, said analysts.

  Soybean prices will be supported on USDA said private shippers sold 745,400 tons of soybeans for the 2014-2015 season, beating analysts' expectations and coming in 52% higher than the previous week and 29% higher than the prior four-week average.

  In domestic market, demand for the bean is also expected to rise from oil crusher on speculation that government may rise imports duty on edible oil after industry sought further increment in import duty on crude and refined oil to safeguard the interest of oilseed farmers by ensuring remunerative prices following higher imports, said Solvent Extractors' Association (SEA) of India in press release.

   "As a remedy to the current situation, we would once again like to strongly appeal to the Union Government to immediately increase import duty on crude vegetable prices," said B V Mehta Executive Director SEA of India.

   The industry is demanding the government to raise import duty on crude vegetable oils to 10% from 7.5% and on refined oil to 25% from 15% to support the inertest of the farmer.

  Prices of the bean will also be supported USDA decreased 2014-15 United States soybean production forecast indicating tight supply in the world's biggest bean producer.

  The USDA trimmed US, the world's biggest bean grower, 2014-15 production estimates to 108 million tons unchanged from the previous estimates and 91.4 million tons a year ago.

  USDA also decreased forecast for 2014-15 US soybean ending stockpiles to 385 million bushels compared to 410 million bushels in the previous month and 92 million bushels a year ago.

  Brazil, the world's second biggest soybean producer, 2014-15 output may fall to 94.5 million tons compared to 95.5 million tons a month ago and 86.7 million tons a year ago, the USDA said.   

   Soybean for April delivery traded in Rs 3,430-3,315 per 100 kilogram range in the past five trading sessions. Soybean for April delivery is expected to trade in Rs 3,350-3,560 per 100 kilograms on the National Commodity & Derivative Exchange next week.

  Crude palm oil may trade flat next week on fear of lower supply from Indonesia and Malaysia and on weak demand, said analysts.

  CPO prices will be supported on a report that the government of Indonesian, the world's biggest oil producer, is in process of increasing the bio diesel subsidy by three fold.

   Earlier the subsidy was Rupiah 1,500 for one litre and now it is proposed to be Rupiah 4,000 per litre. The move needs to be passed by the budget committee in parliament, the directorate general for oil and gas at the Energy & Mineral Resources Ministry said.  

   Prices of the CPO will also be up after Malaysia's crude palm oil output fell in January due to floods, and its stockpiles of the commodity hit a six-month low at the end of January.

  Palm oil output fell 15% to 1.16 million tons as on January end compared to 1.36 million tons a month earlier.

  Palm oil stockpiles also dropped 12.2% to 1.77 million tons as on January end compared to 2.01 million tons a month ago, data showed.

  Malaysia, the world's second-largest palm oil producer, is facing widespread flooding due to a severe monsoon in December and January.

  Meanwhile, after five months of zero duty on crude palm oil (CPO) exports, Malaysian government has finally decided to reintroduce duty next month. Earlier

decision was necessitated by poor exports from the country.

  However, sharp gain in the CPO prices will be capped by oversupply of the oil in domestic market following robust imports data, said analysts.

  India Crude palm oil imports rose 72.09% to 580,695 tons in January compared to 337,418 tons in the same period a month ago, data release from the Solvent Extractors Association (SEA) of India showed.

  Prices of the CPO will also be under pressure on subdued demand following weak Malaysia palm oil export data, said analysts.

  Malaysia palm oil exports in Feb 1-10 fell 16% from a month earlier on weak demand from China, India, and Middle East while output of the edible oil fell 15% in January end due to floods, DowJones reported.

  Malaysia palm oil exports dropped to 298,910 tons in Feb 1-10 compared to 355,846 tons for the same period a month ago, Dow Jones reported citing data from Intertek a private surveyor showed today.

  CPO for February delivery in the past five sessions traded in Rs 463.90-447.10 per 10 kilogram and may trade in Rs 450-459 per 10 kilograms range on the MCX in next week.

  Soyoil may rise next week on improvement in demand and on speculation that government may hike imports duty on edible oil, said analysts.

  The industry is demanding the government to raise import duty on crude vegetable oils to 10% from 7.5% and on refined oil to 25% from 15% to support the inertest of the farmer.

  Soyoil traded in Rs 603.50-586.05 per 10 kilogram range in the past five trading sessions. Soyoil for April delivery is expected to trade in Rs 590-610 per 10 kilograms rang next week on the National Commodity & Derivative Exchange (NCDEX).

  Prices of the mustard seed, the main rabi crop, will extend gain next week on supply worries following weak sowing data, said analysts.

  India's rabi crop sowing contracted to 61.57 million hectare until Feb 13 from 65.68 million hectare a year showing a decline of 6%, agriculture ministry data showed.

   Oilseeds acreage was down at 8.1 million hectare as against 9.02 million hectare as farmers planted less mustard seed due to moisture stress in Rajasthan and Madhya Pradesh, two major mustard producing states.

   RM seed for April traded in Rs 3,354-3,252 per 100 kilogram range for past five trading session. RM seed for April delivery may trade in Rs 3,270-3,380 per kilogram range next week, analysts said.

 

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Base Metal/weekly: Copper may fall on weak global demand, higher supply

Base Metal/weekly: Copper may fall on weak global demand, higher supply

   MUMBAI, FEB 14 : Copper may fall next week after gaining for a third straight trading session this week on demand worries from United States and China following weaker than expected economic data and on  higher inventories, indicating oversupply situation, said analysts.

  "Copper will fall on weak demand from China and US and on higher supply of the metal," said Priyanka Jhaveri an analyst with Kotak Commodities.

   Prices of the base metals will be under pressure after retail sale in US, the second biggest metals consumer, slumped in January for a second straight month and after a government data showed that number of Americans applied for unemployment claims has risen in the past week, fuelling worries over weak demand, said analysts.

  United States jobless claims rose to 304,000 for the week ended Feb 6 compared to analysts' estimate of 285,000 and 279,000 a week ago while retail sales in January fell 0.8% compared to consensus estimation of 0.5% decline and 0.9% fall, government data showed.

  The soft core retail sales prompted Barclays to lower its first-quarter US GDP growth estimate by three-tenths of a percentage point to a 2.2% annual rate. JPMorgan cut its estimate to a 2.5% rate from a 3% pace.

  The economy grew at a 2.6% annual pace in the fourth quarter. However, inventory and trade data for December was below the government's assumptions in the GDP report, suggesting growth could be revised to as low as a 1.8% rate.

  Prices of the bullion will also be under pressure after China's consumer price index slowed more and producer prices have fallen for 35 consecutive months, said analysts.

  China consumer price index in January eased by 0.3% compared to analysts' expectation of 0.4% rise and 0.3% growth a month ago while producer prices index in January fell 4.3% compared to consensus expectation of 3.8% decline and 3.3% fall a year ago, government data showed.

  China import slumped to 19.9% in January lower than analysts' estimate of 3.5% fall and 2.3% decline a month ago, data from China's National Bureau Statistics showed.

  China is the world's largest consumer of copper accounting for about 40% of total global demand and major consumer of other industrial metals.

  Prices of the red metal process will also be under pressure on higher stockpiles of the metal on London Metal Exchange (LME), indicating oversupply situation, said analysts.

  LME data showed copper stocks rose by a massive 32,500 tonnes to 284,600. The red metal stocks have soared 61% so far this year and are the highest in nearly a year.

   Prices of the base metals will also fall on higher stocks warrant of the metal at China Shanghai, indicating oversupply situation, said analysts.

  China Shanghai copper stocks on warrant up by 16,306 to 155,702 tons, aluminium stocks on warrant up by 2,815 tons to 188,842 tons, and zinc stocks on warrant up by 5,616 tons to 102,787 tons on week.

  Prices of the industrial metals will also be under pressure on fear of lower level of physical buying in China ahead of festivals, said analysts.

  Demand for the metals will be weak ahead of Lunar New Year in China, with traders reluctant to stock up given slowing demand growth and ample supply expected.

  Copper for February delivery traded in Rs 362.50-348.05 per kilograms range this week and are likely to trade in Rs 364-348 per kilograms range next week.

  For the past five trading sessions aluminium for February delivery traded in Rs 116.80-112.80 range on the Multi Commodity Exchange. Aluminium prices are likely to trade in Rs 116-111 per kilogram range next week.

  Lead for February delivery traded in Rs 116.40-112.05 per kilogram range this week and may trade in Rs 116-111 per kilogram range next week.

   Nickel for January delivery traded in Rs 949-907.40 per kilogram range in this week on the MCX. Nickel prices are likely to trade Rs 935-880 per kilogram range next week.

  In the past five trading sessions on the MCX, zinc for February delivery traded between Rs 134.85-131.45 per kilogram range and expected to trade in between Rs 136-131 per kilograms rang next week.

  

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Metal/Weekly: Gold may fall easing euro-zone worries, weak demand

 Metal/Weekly: Gold may fall easing euro-zone worries, weak demand

  

   MUMBAI, FEB 14 : Gold may extend fall next week on easing worries in euro-zone and on weak demand for the gold in the global market, said analysts.

  "Gold may fall as easing worries in euro-zone and Russia dents safe have appeal of the metal and on weak consumption demand," said Gajanan Bolewar an analyst with Fortune Commodities & Derivatives.

  Bullion prices will fall as investors hoped that debt ridden Greece will reach a compromise with Europe creditors and as an uptick in retail inflation weighed on risk appetite.

  Thursday, Greece agreed to talk to its creditors to reach a compromise with international lenders.

  Prime Minister Alexis Tsipras, attending his first European Union summit, agreed with the chairman of euro zone finance ministers, Jeroen Dijsselbloem, that Greek officials would meet representatives of the European Commission, the European Central Bank and the IMF on Friday.

  The shift by Tsipras marked an initial step towards resolving a crisis that has raised the risk of Greece being forced out of the euro, which could trigger financial contagion.

  Earlier this week, reports suggested that there was no deal yet between the euro-zone finance ministers over the Greece debt situation and the Greek government officials instated there could be no extension of the bailout.

  Price of the bullion will also be under pressure on after Russian President Valdimir Putin,yesterday, said that a cease-fire starting on Feb 15, with each side pulling back heavy weapons from east Ukraine region.

  Ukrainian Foreign Minister Pavlo Klimkin also said that the deal had been reached after 17 hours of talks in the Belarus capital of Minsk.

  Prices of the bullion will also be under pressure on fear that United States Federal Reserve may hike interest rate sooner than expectation, said analysts.

  Fed member John Williams suggested that economic conditions are getting closer and closer to those where it makes sense to really start thinking seriously about starting this process of normalization.

  Prices of the yellow metal will also be under pressure on fear that demand side remains weak as the World Gold council said that global gold demand fell in 2014 to a five year low.

  Global gold demand dropped 4% to 3,924 tons in the 12 months ended December on weak demand from China amid lower purchase of bars and coin.

   Bars and coins demand dropped to 1,063.6 tons compared to 1,765.4 tons a year go.

  China's full-year purchase of gold fell 33% on year to 813.6 tons, it still represents the second best year for jewellery demand in China since records began in 1995.

   "Chinese gold demand returned to those last seen in 2011/2012 as consumers and investors took time to digest the substantial volumes accumulated in 2013," said Grubb.   

   Gold for April contract traded in Rs 26,990-26,508 per 10 grams range in this week.

   Resistance for February gold prices is seen at Rs 27,400 per 10 grams level and price may get support at Rs 25,700 per 10 grams level in this week.

  Silver may also fall this week taking cue from prices of the gold, analysts said.

  In the last five trading sessions, silver for March delivery traded in Rs 37,964-37,050 per kilogram range.

   Resistance for March silver prices seen at Rs 36,700 per 10 grams level and price may get support at Rs 39,000 per 10 grams level in this week.

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Coffee Crops In Brazil May Reach At 47.28 Million Bags in 2015/16-Terra Forte

Coffee Crops In Brazil May Reach At 47.28 Million Bags in 2015/16-Terra Forte

According to Coffee Exporters Terra Forte, Brail is expected to harvest more coffee crops at 47.28 million 60-kg bags of coffee in the 2015/16 against 46.78 million bags in 2014/15 attributed higher Arabica coffee crops estimates which may touch the level of 32.05 million bags as compared to 29.3 million bags in 2014/15. While, Robusta crops forecast is placed lower at nnbsp;15.2 million bags against 17.4 million bags in last year. nnbsp;

FOR MORE FUNDAMENTAL & TECHNICAL INFORMATION FOR CONTACT 08885237899