Silver Dropped As The Dollar Rose And Stock Markets Gained Confidence

Silver trading range for the day is 45012-48090.

Silver dropped as the dollar rose and stock markets gained confidence with the latest positive development in the U.S.-China trade deal.

The inversion is often considered a negative sign for the economy as every recession in the last 50 years has been preceded by it.

Adding to the uncertainty was British Prime Minister Boris Johnson's decision to suspend parliament for more than a month before Brexit.

China hopes the United States can cancel the planned additional tariffs to avoid an escalation in the trade war, its commerce ministry spokesman.

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Jeera Prices Gained Due To Good Demand In Physical From Stockists

Jeera trading range for the day is 17405-18025.

Jeera prices gained due to good demand in physical from stockists as well as from exporters.


India’s jeera output is set to touch 4.16 lakh tonnes for 2019, about 9% higher than the previous year.


Good news for India's cumin exporters is that its yield in Syria-where new crop usually comes in the middle of June- will be lower this year.

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Rmseed Trading Range For The Day Is 3896-3970

Rmseed trading range for the day is 3896-3970.

Mustard seed gained on hopes of meal demand from China as it refused shipment from Canada.

Further, higher procurement by National Agricultural Cooperative Marketing Federation of India limited the fall in prices.

India exported about 19519 tons of rape seed meals during month of May 2019 against the 120630 tons of prior month.

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Chana Trading Range For The Day Is 4491-4721

Chana trading range for the day is 4491-4721.

Chana prices gained due to strong buying by the government agencies and tight supply.

NAFED procured 261,953.94 tons of gram in Telangana, Rajasthan, Maharashtra, Madhya Pradesh, Andhra Pradesh and Gujarat under PSS

India has issued a combined 6,50,000 tons import quota for pulses for the fiscal year to March 2020, a government order said.

In Delhi spot market, chana gained by 89.85 Rupees to end at 4498.35 Rupees per 100 kgs.

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Silver Settled Flat As Dollar Retreated After Data Showed An Unexpected Drop

Silver trading range for the day is 36915-37647.

Silver settled flat as dollar retreated after data showed an unexpected drop in U.S. service sector growth in the month of April.

President Donald Trump dramatically increased pressure on China to reach a trade deal, saying he would hike U.S. tariffs on $200 billion worth of Chinese goods.

Data released by the U.S. Labor Department showed non-farm payroll employment surged up by 263,000 jobs in April.

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Natural Gas Gained As Higher Heating Demand For The Fuel Due To The Colder Temperatures

Natural gas trading range for the day is 189.5-194.3.

Natural gas gained as higher heating demand for the fuel due to the colder temperatures at present offset higher supply.

The US EIA reported that U.S. natural gas stockpiles decreased by 177 billion cubic feet for the week ending February 15.

Total U.S. stockpiles decreased week over week, falling to around 4.1% below last year’s level and to 17.5% below the five-year average.

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Gold trading range for the day is 32651-33175.


Gold fell as investors looked to the safety of the dollar to stave off risks from the U.S.- China trade spat, as concerns mounted over a slowdown in global growth.


New round of trade talks between China and the US started in Beijing with world’s two largest economies trying to hammer out a deal before a March 1 deadline.


Sino-U.S. trade tensions have rattled financial markets since last year and also underpinned the dollar’s safe-haven appeal.


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Chana Prices Gained On Short Covering After Prices Dropped Due To Weak

Chana trading range for the day is 4164-4286.

Chana prices gained on short covering after prices dropped due to weak demand and abundant supplies in the physical market.

Chana acreage registered a fall of 10% on year to 9.6 million hectares due to lower monsoon rains in major producing centres.

NCDEX accredited warehouses Chana stocks dropped by 229 tonnes to 7485 tonnes.

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Turmeric Prices Gained On Short Covering Due To Expectations

Turmeric trading range for the day is 6402-6598.

Turmeric prices gained on short covering due to expectations of rise in demand and concerns over crop yield.

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

In Telangana, turmeric sowing was reported at 47,791 hectares as compared to 44,956 hectares in the corresponding period last year.

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Crude Palm Oil Gained Tracking Firmness In Spot Demand

CPO trading range for the day is 548-555.6.

Crude palm oil gained tracking firmness in spot demand and overseas prices on forecast of declining production in the coming months and improving export data.

Palm oil output in Malaysia, the world's second-largest producer, is forecast to rise to 20.3 million tonnes this year.

Indonesia's palm oil production is expected to rise by 10 percent this year, the country's industry association said.

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Chana Gained On Short Covering After Prices Dropped Due To Reports

Chana trading range for the day is 4189-4305.

Chana gained on short covering after prices dropped due to reports of higher stocks available with the government agencies.

Area under chana is lagging and supplies are dwindling in the country due to lower imports and good consumption.

NCDEX accredited warehouses Chana stocks dropped by 232 tonnes to 11170 tonnes.

 

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