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7/28/2019 Commodities Weekly Tracker, 3rd June 2013
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Commodities & Currencies
Weekly Tracker
7/28/2019 Commodities Weekly Tracker, 3rd June 2013
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Commodities Weekly TrackerContents
Returns
Non Agri Commodities Currencies
Agri Commodities
Non-Agri Commodities
Gold
Silver
Copper Crude Oil
Currencies DX, Euro, INR
Agri Commodities
Chana
Black Pepper Turmeric
Jeera
Soybean
Refine Soy Oil & CPO
Sugar
Kapas
Monday | June 3, 2013
7/28/2019 Commodities Weekly Tracker, 3rd June 2013
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Commodities Weekly TrackerMonday | June 3, 2013
3.6
2.4
1.7
1.40.7
(0.3)(0.7)
(1.9)(2.0)
(1.0)
0.0
1.0
2.0
3.0
4.0Currencies Weekly Performance
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Commodities Weekly TrackerMonday | June 3, 2013
4.4
3.0
2.0
0.7 0.6
(0.1) (0.4)(0.9)
(1.9)(2.0)
(1.0)
0.0
1.0
2.0
3.0
4.0
Non-Agri Commodities Weekly Performance
7/28/2019 Commodities Weekly Tracker, 3rd June 2013
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*Weekly Performance for June contract,
Commodities Weekly TrackerMonday | June 3, 2013
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Commodities Weekly TrackerMonday | June 3, 2013
GoldWeekly Price Performance
Spot gold prices increased marginally by 0.1 percent in the last week. Gold marked a
weekly high of $1421/oz and closed at $1386.40/oz at the end of the last week.
In the Indian markets, prices closed on a positive note by 1.8 percent in the previousweek to close at Rs.26874/10 gms on Friday, after touching a high of Rs. 27308/10
gms in the last week. Depreciation in the Indian Rupee supported upside in prices.
ETF Performance
Holdings in the SPDR Gold Trust declined by 0.5 percent to 1,013.15 tonnes as on 31st
May 2013 from previous level of 1,016.16 tonnes as on 24th May 2013.
Factors that influenced upside in gold prices
Weakness in the US Dollar Index (DX).
Rise in risk aversion globally acted as a positive factor for safe haven demand.
However, sharp upside in prices was capped due to expectations of a pullback in the
bond -buying program of the Federal Reserve.
Outlook
In the coming week we expect gold prices to trade on a negative note on the back of
weak global markets.
Further, expectations from markets that the Federal Reserve will cut its bond buyingprogram will further exert downside pressure on prices.
Decline in SDPR gold holdings will add more downside pressure.
Depreciation in the Rupee will help to cushion sharp fall in gold prices on the MCX.
Weekly Technical Levels
Spot Gold : Support 1,367/1,345 Resistance 1,415/1,442. (CMP: $1,394.20)
Sell MCX Gold August between 27,180-27,220, SL-27,555, Target -26,500. (CMP: Rs
27,076)
1,350
1,400
1,450
1,500
1,550
1,600
1,650
1,700
1,750
1,800
25,500
26,500
27,500
28,500
29,500
30,500
31,500
MCX and Comex Gold Price Performance
MCX-Near Month Gold Futures -Rs/10 gms Comex Gold Futures -$/oz
79.0
80.0
81.0
82.0
83.0
84.0
85.0
1,350
1,400
1,450
1,500
1,550
1,600
1,650
1,700
Spot Gold Vs US Dollar Index
Spot Gold - $/ oz US Dol lar Inde x
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Commodities Weekly TrackerMonday | June 3, 2013
SilverWeekly Price Performance
Spot silver declined 0.8 percent in the last week and prices touched a low of
$22.11 /oz, closing at $22.21/oz in at the end of the week.
On the domestic front, prices increased 0.3 percent on account of
depreciation in the Rupee . Silver closed at Rs.43616/kg on Friday, after
touching a high of Rs.44925/kg in the prior week.
ETF Performance
Holdings in the iShares Silver Trust declined 0.3 percent to 9,992.92 tonnes on
31st May 2013 from 10,022.95 tonnes on 24th May 2013.
Factors that influenced downside in silver prices
Mixed Performance of Base Metals Complex.
Weak economic data from the US and Euro Zone also exerted downside
pressure on prices.
But sharp downside in prices was capped due to upside in gold prices coupled
with weakness in the DX.
Outlook In the coming week we expect spot silver prices to decline, taking cues from
fall in spot gold prices coupled with expectations of unfavorable economic
data from the US and Euro Zone.
However, weakness in the DX along with upside in base metals group will
cushion sharp fall in prices.
Depreciation in the Indian Rupee will prevent sharp fall in prices on the MCX.
Weekly Technical Levels
Spot Silver: Support 21.84/21.47 Resistance 22.57/23.30. (CMP:$22.38)
Sell MCX Silver July between 44,100-44,200, SL-44,851, Target -
42,700/42,300. (CMP: Rs.43,799)
22
24
26
28
30
32
42,000
44,000
46,000
48,000
50,000
52,000
54,000
56,000
58,000
60,000
MCX and Comex Silver Price Performance
MCX-N ear Month Si lver Futures -Rs/ kg C omex Si lver Futur es -$ /oz
79.0
80.0
81.0
82.0
83.0
84.0
85.0
22.0
24.0
26.0
28.0
30.0
32.0
Spot Silver Vs US Dollar Index
Spo t Si lve r -$ /oz US Dol lar In de x
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Commodities Weekly TrackerMonday | June 3, 2013
CopperWeekly Price Performance
Copper prices closed on a flat note in the last week. But the trend was largely bearish
and the metal touched a weekly low of $7198/tonne.
On the domestic front, prices gained 1.3 percent as a result of depreciation in theRupee and closed at Rs. 413.05/kg on Friday.
Copper Inventories
LME copper inventories declined 1.8 percent last week and stood at 608,450 tonnes as
on 31st May, 2013.
Copper inventories in the warehouse monitored by the SHFE rose 1.5 percent and
stood at 179,317 tonnes for the week ending on 31st May, 2013.
Factors that influenced downside in the copper prices
Risk aversion in the global markets. Slow growth in US GDP coupled with rising unemployment in the Euro Zone.
Sharp downside in prices was cushioned due to weakness in the DX and rise in US
consumer confidence data.
Decline in LME copper inventories.
Outlook
In the coming week, we expect base metal prices to trade on a positive note on the
back of weakness in DX, decline in LME inventories along with expected favorable
manufacturing data from China. However, sharp upside will be capped as a result of weak global markets coupled with
expectations of cut in Feds bond buying program.
Depreciation in the Rupee will act as a positive factor for prices on the MCX.
Weekly Technical Levels
LME Copper: Support 7190/7105 Resistance 7370/7470. (CMP: $7373.0)
Buy MCX Copper June between 407-406, SL-395, Target -422. (CMP: Rs 418.40)
365
375
385
395
405
415
425
435
445455
6,800
7,000
7,200
7,400
7,600
7,800
8,000
8,2008,400
LME and MCX Copper Price Per formance
LME Copper Future ($/tonne) MCX Near Month Copper Contract (Rs/kg)
6,800
7,000
7,200
7,400
7,600
7,800
8,000
8,200
8,400
318,000
368,000
418,000
468,000
518,000
568,000
618,000
LME Copper v/s LME Inventory
Copper LME Inventory (tonnes) LME Copper Future ($/tonne)
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Commodities Weekly TrackerMonday | June 3, 2013
Crude OilWeekly Price Performance On a weekly basis, Nymex crude oil prices declined around 2.3 percent.
On the domestic bourses, depreciation in the Rupee prevented the commodityfrom closing in the red.
US Energy Department Facts and Figures The US Energy Department (EIA) report showed that US crude oil inventories
increased unexpectedly by 3.0 million barrels to 397.60 million barrels for theweek ending on 24th May 2013.
Gasoline stocks fell by 1.5 million barrels to 219.20 million barrels, whereasdistillate stockpiles rose by 1.9 million barrels to 120.70 million barrels for thelast week.
Factors that influenced downside in crude oil prices Unexpected rise in the US crude oil inventories.
Organization of Petroleum Exporting Countries (OPEC) maintained its oil outputquota at 30 million barrels a day.
US GDP grew at a slower pace.
Unfavorable economic data from the US and the Euro Zone.
Weakness in the Dollar Index cushioned fall in oil prices.
Outlook For the coming week, crude oil prices are expected to trade lower on the back
of forecast of rise in the crude oil inventories coupled with an unchangedproduction quota at 30 million barrels a day from OPEC .
Additionally, weak global markets and expectations of cut in bond buyingprogram from US federal Reserve will act as a negative factor for prices.
However, sharp downside will be cushioned on account of weakness in DX.
Depreciation in the Indian Rupee will prevent sharp fall in prices on the MCX.
Weekly Technical Levels Nymex Crude Oil: Support: 90.15/88.67 Resistance 93.05/94.60. (CMP:$91.51)
Sell MCX Crude June between 5265-5285, SL-5331, Target -5155. (CMP:Rs5199)
86.0
88.0
90.0
92.0
94.0
96.0
98.0
4,700
4,800
4,900
5,000
5,100
5,200
5,300
5,400
Nymex and MCX Crude Oil Price Performance
M CX crude oil (Rs/ bbl) NY MEX Crude Oi l ($/bbl)
361.3
360.3
363.1369.1
371.7
372.2
376.4
377.53
381.4
384
382.7
385.9
388.6 388.9
387.6
388.6
395.3 395.5
394.9 394.6
397.6
360
365
370
375
380
385
390
395
400
Crude Oil Inventories (mn barrels)
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Commodities Weekly TrackerMonday | June 3, 2013
DX/ INRWeekly Price Performance
US Dollar Index (DX) declined around 0.4 percent in the last week.
The Indian Rupee depreciated around 1.4 percent on weekly basis.
Factors that influenced downside movement in the DX
In the initial part of the week, the currency declined on the back of rise in risk appetite
in the global markets.
Favorable US consumer confidence and sentiments data added downside pressure.
However, in the later part of the week , weakness in the global markets cushioned
sharp fall along with slow growth in the US GDP.
Factors that influenced movement in the Rupee
Inflation expectations remained on the higher side.
High current account deficit. Heavy dollar buying from defense related companies and month end requirement of oil
importers.
However, sharp downside in the currency was cushioned as a result of weak domestic
and global market sentiments, growth in countrys GDP coupled with weakness in the
DX.
FII Inflows
For the month of May 2013, FII inflows totaled at Rs.22,168.60 crores ($4,042.64
million) as on 31st May 2013. Year to date basis, net capital inflows stood at
Rs.83,205.10 crores ($15,353.0 million) till 31st May 2013.Outlook
In the coming week, Rupee is expected to depreciate due to dollar demand from gold
and oil importers, weak global market sentiments along with unfavorable economic
data.
However, weakness in the DX will cushion sharp fall in the currency.
Weekly Technical Levels
USD/INR MCX June Support 56.25/55.70 Resistance 57.25/57.60. (CMP: 56.87)
US Dollar Index: Support 82.60/82.0 Resistance 83.80/84.40. (CMP: 83.01)
53.0
53.5
54.0
54.5
55.0
55.5
56.0
$/INR -Spot
79.0
80.0
81.0
82.0
83.0
84.0
US Dollar Index
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Commodities Weekly TrackerMonday | June 3, 2013
EuroWeekly Price Performance
The Euro appreciated 0.5 percent last week, touching a weekly high of 1.3061.
Factors that influenced upside movement in the Euro Weakness in the DX coupled with mixed global markets sentiments.
However, sharp upside was capped on account of unfavorable economic data
from the region along with rise in the unemployment rate of the Euro region.
News
German Retail Sales declined 0.4 percent in April as against a fall of 0.5 percent
in March. French Consumer Spending fell by 0.3 percent in April from rise of 1.3
percent in March.
Italian Monthly Unemployment Rate increased to 12 percent in last month when
compared to increase of 11.9 percent in March. European Unemployment Rategrew to 12.2 percent in April from rise of 12.1 percent in March.
German Unemployment Change increased by 21,000 in April as against a rise of
6,000 in March.
Outlook
In the coming week, we expect the Euro to depreciate on the back of rise in risk
aversion in the global markets.
Further, rise in the Euro Zone unemployment rate will also exert downside
pressure on the currency. However, sharp downside in the currency will be cushioned on account of
weakness in the DX coupled with expectations of favorable economic data from
the region.
Weekly Technical Levels
EURO/USD SPOT: Support 1.288/1.275 Resistance 1.312/1.325. (CMP: 1.303)
1.275
1.285
1.295
1.305
1.315
1.325
1.335
1.345
1.355
1.365
Euro/$ - Spot
69.0
69.5
70.0
70.5
71.071.5
72.0
72.5
73.0
73.5
74.0
EURO/INR - Spot
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Chana
Commodities Weekly TrackerMonday | June 3, 2013
Weekly Price Performance
Higher supplies and record output expectations led chana prices to hit fresh
contract lows of Rs. 3105 per qtl in the June contract. However, emergence of
fresh demand at lower levels led to some recovery in the prices towards thelater part of the week.
Chana spot as well as June futures settled 0.4% and 4.6% lower w-o-w.
Timely arrival of monsoon to boost Kharif Pulses sowing
Monsoon has finally hit Kerala coast on time and is expected to progress soon in
other part of southern India. This has raised expectatations over sowing as
kharif Pulses are mainly grown in the western and southern belts of India.
Chana output estimated at record high - Third Advance Estimates
According to the third advance estimates released last week, Chana output ispegged marginally lower to 8.49 mn tn compared with its second advance
estimates of 8.57 million tonnes. Chana output is expected to breach its 2010-11
record of 8.2 mn tn in 2012-13.
Seasonal pattern to restrict further downside in the prices
Chana prices tend to follow a seasonality pattern, wherein prices decline during
the harvesting period (Apr-May) and bottom out when arrivals reach their peak
in the month of May. Thus, taking cues from seasonality pattern , chana prices
are set to recover from the current month (June as arrival will decline gradually.
Outlook Chana prices are expected to remain sideways as arrivals will gradually start
declining in the coming weeks which may restrict further downside in the
prices.. Also prices are hovering around the MSP levels below which farmers will
not liquidate their stocks.
Weekly Strategy
Sell NCDEX CHANA July between 3255-3265, SL -3370, Target - 3100 / 3050
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Turmeric
Source: Agriwatch & Reuters
Commodities Weekly Tracker
Weekly Price Performance
Turmeric Futures continued to decline last week as huge carryover stocks coupled
with weak demand due to high temperatures kept prices under pressure.
However, buying by stockists supported prices at lower levels.
The spot as well as the futures settled 0.5% and 2.8% lower w-o-w.
Weak exports data
Turmeric exports during Apr-Jan 2013 declined by 4% to 66,550 tn. (Source Factiva)
Modification in Tick size and Lot size
NCDEX issued a circular earlier this month that it will modify the tick as well as the
lot size in the Turmeric contract. However the exchange later announced that it
has kept the circular issued earlier has been kept in abeyance till further notice.
Lower acreage of Turmeric for the 2012-13 season
Production of turmeric may decline in 2012-2013 season due to weak monsoon as
well as lower turmeric prices. The area covered under Turmeric in A.P. as on 10th
October, 2012 has been reported at 0.58 lakh hectares. The area covered is lower
as compared to last year (0.81 lha), as well as normal as on date (0.67 lha).
Sowing is reported to be 30-35% lower compared to last year.
Lower production in the 2012-2013 season
Turmeric production in 2012-13 is expected around 50% lower compared to last
year and is expected around 45-50 lakh bags. Production in 2011-12 is reportedat historical high of 90 lakh bags/ 10.62 lakh tns.
Outlook
Prices are expected to trade on a negative note this week as huge stocks as well
as weak demand may continue to pressurize prices. However, prices may recover
from lower levels as farmers may hold back their stocks. Also export demand may
emerge at lower levels ahead of Ramadan and the summers start to cool down.
Weekly Strategy Sell NCDEX Turmeric July between 5810-5850, SL -6030, Target - 5550 / 5450.
Monday | June 3, 2013
Source: Reuters & Angel Research.
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Jeera
Source: Ministry of Agriculture, Gujarat.
Commodities Weekly Tracker
Weekly Price Performance
Jeera futures corrected from higher levels due to higher arrivals in the spot
market. The demand also did not pick up as expected. However, expectations of
improvement in the overseas demand in the coming weeks limited the downside
in the prices. Higher production estimates have capped sharp gains in the prices.
Prices had declined over the last few months due to higher sowing. The 3 years
average sowing is reported at 3.189 lk ha. About 25-30% of the new crop from
Gujarat has already been exported to Singapore, Europe & Dubai.
The spot as well as the Futures settled 1.07% and 2.11% lower w-o-w.
Second consecutive year of higher output
Indias 2013 Jeera output is estimated at 40-45 lakh bags (of 55kgs each), higher
than 40 lakh bags in 2012. However, increase in the exports due to supplyconcerns in the global markets offset the impact of higher supplies on the prices
and thus, medium term fundamentals remain supportive for the upside.
Global supply concerns boost Jeera exports
Jeera exports during Apr-Jan 2013 stood at 64,400 tn, higher by 86% (Source Factiva).
Due to lower production in Syria and Turkey, coupled with the ongoing tensions
between them, exports are not taking place and have been diverted to India. They
have stopped shipments. Turkey may start offering its Jeera in the coming days.
International Scenario
According to reports, production in Syria is reported around 22,000 tonnes while
production in Turkey is reported between 5000-7000 tonnes, lower by 20% and
around 50% respectively, raising supply concerns in the international markets.
Indian Jeera in the international market is being offered at $2,450/tn (c&f).
Outlook
Jeera may decline due to higher output coupled with good arrivals. However,
expectations of overseas demand may support prices at lower levels.
Weekly Levels Sell NCDEX Jeera July between 13300-13350, SL -13700, Target - 12800 / 12600.
Monday | June 3, 2013
Source: Reuters & Angel Research.
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Soybean
Commodities Weekly TrackerMonday | June 3, 2013
Weekly price performance
Soybean declined for the fourth straight week and settled 1.91% lower on
expectations normal monsoon and higher returns will boost sowing this season.
CBOT Soybean July gained 2% w-o-w on the back of delayed planting coupled withtight soybean stocks and good demand for US soy meal.
India's soy meal Exports Fall by 68 Percent during FY12-13 SEA
Indias soy meal exports for the month of April 2013 were 99.451 tonnes, lower by
68.31 percent from 313,832 tonnes a year ago.
Increase in the output in the 3rd Advance Estimates
As per the 3rd Advance Estimates released by the Ministry of Agriculture, soybean
output increased to 14.14 mn tn from 12.24 mn tn in the previous estimates.
Delay in shipments from Brazil Heavy rainfall in Brazil caused has hampered the loading of soybeans at the Brazil
ports, leading to a delay in the shipments.
South American Soybean Exports Seen at Record High- Oil World
Brazil, set to become the worlds largest soybean exporter, may ship a record 7.6
million tons of the oilseed in May after permitting ports to operate 24 hours a day,
from a previous 8-hour limit.
US Soy planting- 44% complete
According to the USDA weekly crop report, Soybean planting has been delayed dueto heavy rains in the US Midwest and is reported at 44%. However, it is much lower
as against 87% last year and five year average of 61%.
Outlook Soybean prices may trade with upward bias in the current week as firm international
markets as a result of delayed planting may support domestic soybean prices.
Strategy
Buy NCDEX Soybean July between 3710-3700, SL -3620, Target - 3820 / 3840.
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Refine Soy Oil and Crude Palm Oil
Commodities Weekly TrackerMonday | June 3, 2013
Weekly price performance
Edible oils continued to remain in the positive territory last week as lower
stocks and seasonally lower yield period of Malaysian Palm Oil continued tosupport prices. Ref Soy oil on NCDEX as well as CPO prices at MCX settled
0.19% and 1.24% higher w-o-w.
Global Scenario
Exports of Malaysian palm oil products for May declined 3.4 percent to
1,248,014 tonnes from 1,292,371 tonnes shipped during April.
Stocks data from industry regulator the Malaysian Palm Oil Board showed
inventory levels at the end of April down 11.3 percent to 1.93 million tonnes
against the previous month's 2.17 mn tn. But exports of palm oil products for
May 1-10 slid 16.7% to 380,047 tn.
Domestic Scenario
As per the data released by the The Solvent Extractors' Association of India
Imports of all vegetable oils, including non-edible oils, by India, declined
29.23% in April 2013, to 654,827 tonnes from 925,334 tonnes in April 2012
due to high stocks lying at the ports.
Stockpiles of edible oil at ports on May 1 stood at 670,000 tn, the trade body
said, off a record of 930,000 tn on March 1. Stocks were still on the higher
side despite the decline in monthly imports.
India's imports of palm oil could rise more than 17% in the year to October
2013 to stand at 9 mn tn, compared with 7.67 mn tn of palm oil in 2011/12 as
the edible oil is the cheapest available, despite an import duty.
Strategy
Buy NCDEX Ref Soya Oil July between 690-692, SL -681, Target - 704 / 710.
Buy MCX CPO June between 481-479, SL -473, Target - 491 / 493.
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Sugar
Commodities Weekly TrackerMonday | June 3, 2013
Weekly Price Performance
After showing some signs of recovery , sugar prices remained flat last week as
higher supplies continue to offset demand ahead of festive season. ICE as well as Liffe Sugar remained under downside pressure last week on account
of good progress of harvesting and crushing in brazil.
Sugarcane acreage likely to fall 10% this kharif season
The sowing area under sugarcane is likely to decline by 10 per cent this season
following shortage of water in major producing states including Maharashtra,
Tamil Nadu and Karnataka. (Source: Business Standard)
Data compiled by the agriculture ministry showed planting is completed in 41.24
lakh ha compared with 46 lakh hectares.
India sugar reserves at five-year high set to avert imports
Sugar inventories in India, are poised to surge by 37% to 9.2 million tonnes at the
start of October, a five-year high as exports halt because of slumping global
prices. Exports have plunged to about 35,000 tonnes since 1 October from 3.4
million tonnes in 2011-2012.
Brazil's CS sugar output up 40 percent yoy
Sugar and ethanol mills in Brazil's main center-south cane belt made strong
progress harvesting record crop through mid-May, producing more than twice the
amounts of sugar and ethanol than they did from last season's smaller cane crop.Mills in the region benefited from dry weather in late April and early May and
produced mn tn of sugar, up 40 percent from a year ago.
Outlook
Sugar prices are expected to recover on account of improvement in demand from
the bulk manufacturers coupled with lower cane planting figures. However, weak
international markets may keep sharp upside capped.
Strategy
Buy NCDEX SUGAR July between 3090-3080, SL -3040, Target - 3145 / 3160
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Kapas/Cotton
Commodities Weekly TrackerMonday | June 3, 2013
Weekly Price Performance
Kapas as well as cotton traded on a bullish note and settled 5.57% and 3.5% higher
last week on the back of pick up in demand for yarn mixed coupled with extreme hot
weather. However, offloading of stocks from the state reserves capped sharp gains. ICE Cotton futures declined 2.61% last week as worries of a potential slowdown in
China coupled with improving weather in the US easing sowing concerns.
Increase in the planting in India.
Cotton planting in India is reported at 11.86 lakh ha as against 10.4 lakh ha last year.
Government selling cotton through e-auction
Cotton Corporation & NAFED are expected to offload 8 lakh bales at lower prices.
CCI offered 38100 bales last week through e-auction.
Cotton Advisory Board sees lower kharif sowing CAB in its latest meet has projected cotton crop at 34 mn bales for 2012-13 season
compared to the previous estimates of 33 mn bales. Mill consumption is expected to
go up from 22.3 million bales last year to 23.5 million bales.
Exports are estimated at 8.1 mn bales. While Import are estimated 2.5 mn bales.
US Cotton planting to determine cotton prices
As on 27h May, Cotton planting was 59% completed in the US compared to 39% last
week and average of 69% in the last five years. However, Planting is expected to pick
up as weather improved in Mississippi Delta and into the Southeast United States .
Outlook
Cotton prices may trade with a positive bias this week on account of improvement in
the demand for yarn. Millers are also buying actively towards the end of the season.
Extreme hot weather is also supportive for the prices. Farmers are also holding back
their stocks. Any recovery in international markets may also support prices.
However, offloading more stocks in the local markets from state reserves may exert
pressure on the domestic cotton prices.
Strategy
Buy MCX Cotton June between 18610-18590, SL -18300, Target - 19000 / 19150.
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Thank You!
Angel Commodities Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3083 7700Corporate Office: 6th Floor, Ackruti Star, Central Road, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000
MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302
Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and correctness.
The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in part, by any
recipient hereof for any purpose without prior permission from Angel Commodities Broking (P) Ltd. Your feedback is appreciated on [email protected]
Commodities Weekly TrackerMonday | June 3, 2013
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