At Jaipur market , Mustard Condition closed strong at Rs. 4485-4490 per quintal, up by 0.56 per cent from previous trading day. Total arrivals are at 40000 Bags, unchanged as compared to previous dayn#39;s arrival. Mustard Condition at Alwar market ended strong at Rs. 4250-4275 per quintal, higher by 0.59 per cent as against previous day. Estimated market supply was at 3000 Bags, lower by 2000 Bags as against previous day. Mustard Non Condition at Sri Ganganagar market closed at Rs. 4000-4020 per quintal, unchanged as compared to previous close. Estimated market supply was at 500 Bags, lower by 100 Bags as against previous day. Mustard in Rajasthan Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Jaipur Mustard Condition 4485-4490 +25 Alwar Mustard Condition 4250-4275 +25 Sri Ganganagar Mustard Non Condition 4000-4020 0 nnbsp;
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Tuesday, 11 August 2015
Mustard in Rajasthan Physical Market Finished Strong
Soybean in Physical Market Closed Strong in Nagpur
At Nagpur market , Soybean Plant closed strong at Rs. 3300-3325 per quintal, higher by 0.76 per cent from previous dayn#39;s price level. Soybean Mandi closed firm at Rs. 3050-3190 per quintal, up by 1.59 per cent against previous trading day. Arrivals were reported at 20000 Bags, lower by 5000 Bags from previous trading day. Soybean in Nagpur Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Nagpur Soybean Plant 3300-3325 +25 Nagpur Soybean Mandi 3050-3190 +50 nnbsp; Note: The above mentioned prices are in Rs. per quintal and arrivals are in Bags.
Soymeal in Kota Physical Market Trading Higher
At Kota market , Soymeal is trading strong at Rs. 29000 MT, up by 3.2 per cent from previous trading day. Soymeal in Kota Market (Prices in Rs. MT) Market Commodity/Variety Price Change Absolute Kota Soymeal 29000 +900 nnbsp; Note: The above mentioned prices are in Rs. MT and arrivals are in
Kerala Physical Market: Cardamom Trading Firm
At Kochi market , Cardamom Loose(Max. Price) is trading high at Rs. 958 per kg, higher by 10.62 per cent from previous dayn#39;s price level. Estimated market supply was at 73736 kgs, higher by 33513 kgs as against previous day. Cardamom Loose(Avg. Price) is offered firm at Rs. 666 per kg, higher by 7.59 per cent from previous price level. steady as against previous dayn#39;s arrival. nnbsp; Cardamom in Kerala Market (Prices in Rs. per kg) Market Commodity/Variety Price Change Absolute Kochi Cardamom Loose(Max. Price) 958 +92 Kochi Cardamom Loose(Avg. Price) 666 +47 nnbsp; Note: The above mentioned prices are in Rs. per kg and arrivals are in kgs
Sugar Physical Market in Muzaffarnagar Trading
At Muzaffarnagar market , Sugar M-31(Khatauli) is trading firm at Rs. 2750 per quintal, higher by 6.59 per cent from previous dayn#39;s price level. Sugar M-31((Deoband) is offered high at Rs. 2675 per quintal, up by 7.86 per cent from previous price level. Sugar Nanauta at Muzaffarnagar market is quoted firm at Rs. 2490 per quintal, up by 3.75 per cent as against previous day. Sugar Morna at Muzaffarnagar market is offered high at Rs. 2500 per quintal, higher by 4.17 per cent from previous trading day. Sugar Sehora at Muzaffarnagar market is trading firm at Rs. 2640 per quintal, up by 8.87 per cent as compared to previous day. nnbsp; Sugar in Muzaffarnagar Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Muzaffarnagar Sugar M-31(Khatauli) 2750 +170 Muzaffarnagar Sugar M-31((Deoband) 2675 +195 Muzaffarnagar Sugar Nanauta 2490 +90 Muzaffarnagar Sugar Morna 2500 +100 Muzaffarnagar Sugar Sehora 2640 +215 At Muzaffarnagar market ,Sugar SHYAMLI(M-31) is offered firm at Rs. 2650 per quintal, up by 6.85 per cent from previous price level. Sugar TIKOLA(M-31) at Muzaffarnagar market is quoted high at Rs. 2650 per quintal, higher by 1.92 per cent from previous dayn#39;s price level. Sugar in Muzaffarnagar Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Muzaffarnagar Sugar SHYAMLI(M-31) 2650 +170 Muzaffarnagar Sugar TIKOLA(M-31) 2650 +50 nnbsp;
Coriander Seed Trading Higher in Madhya Pradesh Physical Market
At Guna market , Coriander Seed Badami is trading firm at Rs. 8200 per quintal, up by 1.23 per cent from previous dayn#39;s price level. Arrivals were reported at 500 quintals, unchanged as compared to previous dayn#39;s arrival. Coriander Seed Eagle is offered strong at Rs. 9500 per quintal, up by 5.56 per cent as compared to previous day. Coriander Seed Badami at Neemuch market is offered at Rs. 8200-8700 per quintal, steady as against previous close. Estimated market supply was at 1000 quintals, up by 200 quintals from previous dayn#39;s arrivals. Coriander Seed Eagle at Neemuch market is trading at Rs. 8800-9000 per quintal, steady against previous close. Coriander Seed Scotter at Neemuch market is quoted at Rs. 10000-10300 per quintal, unchanged as compared to previous close. nnbsp; Coriander Seed in Madhya Pradesh Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Guna Coriander Seed Badami 8200 +100 Guna Coriander Seed Eagle 9500 +500 Neemuch Coriander Seed Badami 8200-8700 0 Neemuch Coriander Seed Eagle 8800-9000 0 Neemuch Coriander Seed Scotter 10000-10300 0 nnbsp;
Pulses in Jaipur Physical Market Started the Day Higher
At Jaipur market , Chana Desi opened high at Rs. 4525 per quintal, up by 0.56 per cent from previous dayn#39;s price level. Moong Desi opened at Rs. 6500 per quintal, steady against previous close. Moth Local at Jaipur market started lower at Rs. 6200 per quintal, lower by 1.59 per cent as against previous day. Urad Local at Jaipur market opened weak at Rs. 6800 per quintal, lower by 2.86 per cent from previous dayn#39;s price level. Chawala Red at Jaipur market started the day lower at Rs. 3800 per quintal, lower by 2.56 per cent as compared to previous day. Pulses in Jaipur Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Jaipur Chana Desi 4525 +25 Jaipur Moong Desi 6500 0 Jaipur Moth Local 6200 -100 Jaipur Urad Local 6800 -200 Jaipur Chawala Red 3800 -100 nnbsp;
INDIA FX: USD/INR opens at over 7-week high after PBoC devalues currency
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SPOT 1-YR FWD 1-YR FWD 1-MONTH FUTURES
PREMIUM ABSOLUTE
(Rs)
Last 64.1825-64.1925 ---------- --------- 64.3325-64.3350
Open 64.1600-64.1700 ---------- --------- 64.3000-64.3025
High 64.2000-64.2100 ---------- --------- 64.3550-64.3575
Low 64.1100-64.1200 ---------- --------- 64.2525-64.2550
(Rs)
Prev 63.8700-63.8800 7.04-7.09% 4.34-4.36 64.1050-64.1075
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9:15AM//USD/INR opens at over 7-week high after PBoC devalues currency
Dollar/rupee opened at over seven-week high Tuesday after the People's Bank of China devalues its currency, Yuan, by almost 2% against the US dollar to levels last seen three years ago in a bid to boost the economy, dealers said.
"PBoC devalued its currency, which should have an impact on our currency as well," said a dealer with a private-sector bank.
At 9:15AM, the dollar/rupee traded at Rs 64.19/$1 compared to previous close of Rs 63.87/$1 and Rs 64.16/$1 at open.
A weaker yuan could threaten other economies in the region that compete with Chinese exports, and the move sent other currencies in Asia lower. A weaker yuan could encourage other central banks in the region to also devalue their currencies to stay competitive.
Chinese exports slumped 8.3% in July, the biggest drop in four months and far worse than expectations for a 1% fall. Exports to the European Union fell 12.3% in July while those to the United States dropped 1.3%.
The People's Bank of China says the move was a one-off to align onshore and offshore rates in another step toward deregulation of the foreign exchange market. The PBOC also says that the yuan's strength relative to other currencies provided room for adjusting its value.
Meanwhile, the currency pair was also supported on comments from the Federal Reserve Bank of Atlanta President Dennis Lockhart as he said that the decision to hike rates should come soon.
"I think the point of 'liftoff' is close," Lockhart said in prepared remarks for an address to the Atlanta Press Club. "The economy has made great gains and is approaching an acceptable normal, conditions are no longer extraordinary."
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8:55AM//USD/INR seen up as PBoC devalues Yuan to boost economy; Outflows eyed
Dollar/rupee may open up Tuesday after the People's Bank of China devalues its currency Yuan as it allowed the yuan to depreciate almost 2% against the US dollar to levels last seen three years ago, dealers said.
"Capital flight can be seen from our markets after the Yuan was devalued," said a dealer with a public sector bank.
Dollar/rupee may open around Rs 64.05-64.10/$1 Tuesday compared with previous close of Rs 63.87/$1, he added.
A weaker yuan could threaten other economies in the region that compete with Chinese exports, and the move sent other currencies in Asia lower. A weaker yuan could encourage other central banks in the region to devalue their currencies to stay competitive.
Chinese exports slumped 8.3% in July, the biggest drop in four months and far worse than expectations for a 1% fall. Exports to the European Union fell 12.3% in July while those to the United States dropped 1.3%.
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8:40AM//USD/INR NDF extends gain; Dlr index extends fall to 4th-day
Dollar/rupee in the inter-bank offshore market extended gains for the second straight day Tuesday, while the dollar index extended its fall for the fourth straight day on comments from Fed officials stating that low inflation is still a concern for the world's largest economy.
The dollar index, which tracks the strength of the greenback against six major currencies, traded at 97.43 Tuesday during early Asian trades compared with 97.62 at close in New York time.
Dollar/rupee in the non-deliverable forwards market maturing in one month, traded at Rs 64.06/$1 compared to previous close of Rs 64.04/$1 and onshore spot previous close of Rs 63.87/$1.
Federal Reserve Vice Chairman Stanley Fischer said Monday that low inflation in the US, while probably restrained by temporary factors, remains a concern as the labor market nears a sweet spot.
Fischer's remarks indicate that while he is pleased with progress on employment, he may be waiting for signs inflation will start moving up toward the central bank's target.
The Federal Open Market Committee meets Sep 16-17 for a meeting at which many investors and economists expect it will raise interest rates for the first time in almost 10 years.
"Employment has been rising pretty fast relative to previous performance, and yet inflation is very low," he said in an interview to Bloomberg Television. "And the concern about this situation is not to move before we see inflation, as well as employment, returning to more normal levels."
However, the dollar failed to react to positive comments from the Federal Reserve Bank of Atlanta President Dennis Lockhart as he said that the decision to hike rates should come soon.
"I think the point of 'liftoff' is close," Lockhart said in prepared remarks for an address to the Atlanta Press Club. "The economy has made great gains and is approaching an acceptable normal, conditions are no longer extraordinary."
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