|
Prev
Next
|
|
| As on Sep 18, 2019 12:00 AM |
Your results on : Mid Session |
|
|
On September 5, 2019, China's customs authorities permitted imports of soybean, rape, sunflower meals, oilcakes and sugar beet pulp from Russia. The suppliers of the above products will have to be inspected and approved by Russian government agencies and registered with the Chinese regulator. On June 6, 2019, Russia and China signed agreements increasing the list and volumes of grains, oilseeds and their products to be supplied, Powered by Commodity Insights |
| COMEX Gold futures slipped yet again as traders stayed cautious ahead of the US Fed monetary policy meeting outcome. Continued profit selling has been seen in the metal as weak retail demand in India weighs on the sentiments. The metal currently trades at $1509 per ounce, down 0.26% on the day. The overall range has been pretty tight this week. The US dollar index has edged up from its three week low and currently trades at 98 level, up 0.20% on the day. MCX Gold futures are trading at Rs 37807 per 10 grams, down 0.55% on the day after breaking under Rs 38K levels. Retail buying is very thin though the market is now eyeing the upcoming festive season to see if the current lull in demand gives way to some recovery in offtakes. Powered by Commodity Insights |
As per official data, Kazakhstan Sunflower oil exports reaches record levels in July month.This season's exports (September-July 2018/19) hit a record high of 74.1 KMT (up 0.7% year-on-year). China is the top importer (36% of total exports) despite a 15.7% drop in its purchases. Kazakhstan exported sunflower oil to the Netherlands for the first time ever, and the US and Belgium resumed purchases from the country; Powered by Commodity Insights |
According to the latest update, as of September 16, planting of winter grains has slowed down (6.0% behind last year). Planting of winter rape is 9.8% ahead of last year. Corn harvest has accelerated to 38.1% behind last year, with yield being 10.3% higher than in 2018. Buckwheat harvest is 49.7% behind last year now, with a 5.2% higher yield than in 2018. Millet harvest is 52.8% ahead of last year, with a 30.9% higher yield than in 2018. Sunflower harvest has accelerated (25.3% ahead of 2018), with its yield and total crop being up 3.2% and 29.2% year-on-year, respectively. Powered by Commodity Insights |
Europe's passenger car registrations contracted 8.4 percent on year, reversing a 1.4 percent rise in July, data published by the European Automobile Manufacturers Association, or ACEA, showed Wednesday. Registrations totaled around 1.3 million units. The latest decline was mainly the result of the high base of comparison, as August 2018 saw exceptional growth of about 31.2 percent ahead of the introduction of the new WLTP emissions test on September 1, 2018. Spain posted a sharp decrease of 30.8 percent in August. Sales fell 0.8 percent in Germany and 14.1 percent in France. Italy's car sales were down 3.1 percent. During January to August period, car demand decreased 3.2 percent from the same period last year. Only Germany logged a slight positive growth, while all other major EU car markets posted falling demand. Powered by Commodity Insights |
| UK consumer spending dropped 1.3 percent year-on-year in August, following a 1.2 percent fall in July, compiled by IHS Markit showed Wednesday. Spending Expenditure has fallen in each of the past 11 months. On a monthly basis, household expenditure rose only 0.8 percent. Powered by Commodity Insights |
International Prices of Imported Edible Oil At Major Ports | Imported Oil | Prices |
|---|
| CIF ( $ per Tonne ) | CPO | Oct 552 | | RBD | Oct 582 | | CIF ( $ per Tonne ) | SOYA OIL | Sep 739 | | SUNFLOWER OIL | Oct 770 | | High seas ( Rs per Kg ) | CPO | Ready 565 | | SOYA DEGUM | Ready 718 |
Powered by Commodity Insights |
| Balmoral Resources Ltd announced that the Company's first drill testing of the Area 52 gold target on its Fenelon Property in Quebec has successfully achieved multiple objectives, highlighted by the discovery of a new, near-surface, high-grade gold zone located proximal to the Sunday Lake deformation zone. Including this important new discovery, the initial four-hole Area 52 exploration drill program has successfully intersected high-grade gold mineralization both within the southeast-northwest trending Area 51 corridor AND along the east-west trending Sunday Lake deformation zone and demonstrated a good correlation between initial widely-spaced geophysical surveying and the gold mineralization intersected. Powered by Commodity Insights |
The NCDEX Soybean futures slipped today on profit selling after the recent surge as traders eyed the uptick in arrvials in major mandies and also focused on the increase in the sowing of the commodity. Latest data showed that the acreage under Soybean stood at 113.30 lakh hectare, up 0.80% on year as on 12th Septmber 2019. The Solvent Extractor’s Association (SEA) noted in a latest update that stock of edible oils as on 1st September, 2019 at various ports is estimated at 882,000 tons (CPO 335,000 tons, RBD Palmolein 250,000 tons, Degummed Soybean Oil 120,000 tons, Crude Sunflower Oil175,000 tons to and Rapeseed Oil 2,000 and about 11,60,000 tons in pipelines. Total stock at ports and in pipelines is reported at 2,042,000 tons, increasing by 47,000 tons from 1,995,000 tons as on 1stAugust, 2019. India’s monthly requirement is about 19.00 lakh tons and operate at 30 days stock against which currently holding stock over 20.42 lakh tons equal to 32days requirements against 25.74 lakh tons. This is bound to weigh on the oils and oilseeds prices and the NCDEX Soybean futures might enter into a corrective phase after hitting a contract high of Rs 3699 per quintal in last session. The counter currently trades at Rs 3640 per quintal, down 0.33% on the day. Powered by Commodity Insights |
LME Inventories Data - 17 September 2019 Aluminium 905725 (-2700), Copper 299325 (-2600), Nickel 163308 (-966), Lead 75550 (0), Zinc 62125 (175). All figures in tonnes, Daily change in bracket. Powered by Commodity Insights |
Australia's six month annualised growth rate in the Westpac- Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to -0.35 percent in August from +0.01 percent in July, data from Westpac showed Wednesday. Data showed that the major contributors to the sharp decline in the growth rate came from substantial drags from the share market, commodity prices and dwelling approvals. Westpac expects that economic growth pace will pick up from the 2 percent annualised pace in the first half of 2019 to 2.5 percent in the second half and hold at around that 2.5 percent pace in the first half of 2020. Powered by Commodity Insights |
The Indian rupee rebounded against the dollar in early trades on Wednesday, 18 September 2019 as gains in domestic equity market and easing crude prices strengthened investor sentiments. Reports that half of Saudi Arabia's daily production has been recovered post-attack enthused investors. Saudi Arabia's energy minister has said that more than half of the country's daily crude oil production that was knocked out by an attack had been recovered. Further, investors were optimistic about the US-China trade talks in October. However sustained foreign fund outflows weighed on local currency. Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 808.29 crore on Tuesday, according to provisional exchange data. The domestic currency opened at Rs 71.47 against the dollar and registered an intraday high and low of 71.43 and 71.51 respectively so far during the day. In the spot currency market, the Indian unit was last seen trading at 71.48. On Tuesday, rupee had settled for the day at 71.78 against the US dollar. Domestic benchmark indices trimmed early gains in the morning trade. At 10:19 IST, the barometer index, the S&P BSE Sensex, was up 33.19 points or 0.09% at 36,514.28. The Nifty 50 index was down 0.75 points or 0.01% at 10,816.85. Overseas, most Asian markets are trading higher as investors await US Federal Reserve's interest rate decision. US stocks ended higher on Tuesday as the impact of weekend attacks on Saudi Arabia's biggest oil refinery faded. Meanwhile, the dollar traded near a seven-week high versus the yen as oil markets recovered from a supply shock, but the focus is firmly on a U.S. Federal Reserve meeting later on Wednesday that is widely expected to deliver an interest rate cut. The dollar index (DXY) measuring the greenback against a basket of six major currencies fell 0.02% to 98.242. Powered by Commodity Insights |
Emerging East Asia's local currency bond market expanded steadily in the second quarter of 2019 despite downside risks stemming from ongoing trade conflicts, a faster-than-expected economic slowdown in the People's Republic of China (PRC), and moderating global growth, according to the latest issue of the Asian Development Bank's (ADB) Asia Bond Monitor. “Foreign investment in emerging East Asia remains stable but there are still considerable potential risks. Financial stability in the region could be undermined if global investors change their views on emerging markets,” said ADB Chief Economist Mr. Yasuyuki Sawada. “Governments in the region would do well to continue to deepen local currency bond markets so they can act as a reliable local source of funding.” Emerging East Asia comprises the PRC; Hong Kong, China; Indonesia; the Republic of Korea; Malaysia; the Philippines; Singapore; Thailand; and Viet Nam. Despite the risks, foreign investment in emerging East Asia's bond markets remained stable in the second quarter. Foreign holdings of local currency bonds rose in the PRC on expectations of additional economic stimulus from the government, and in Indonesia on the back of a credit ratings upgrade. Holdings fell in the Republic of Korea, Malaysia, and the Philippines on a variety of domestic factors. Local currency bonds outstanding in emerging East Asia totaled $15.3 trillion at the end of June, up 3.5% in US dollar terms from the end of March this year and 14.2% higher than the end of June 2018. Bond issuance in emerging East Asia totaled $1.6 trillion in the second quarter, 12.2% higher than in the first quarter due to strong issuance of government bonds and a recovery in corporate bonds issuance. At the end of June, there were $9.4 trillion in local currency government bonds outstanding, 13.6% higher than at end June 2018. The stock of corporate bonds was $5.8 trillion, up 15% compared with end June 2018. The PRC remained emerging East Asia's largest bond market, accounting for 75.3% of the region's total outstanding paper. In the PRC, the stock of local government bonds expanded 5.4% on a quarter-on-quarter basis, the fastest of any bond category in the PRC, following directives for local governments to accelerate the issuance and use of special bonds to support economic growth and finance infrastructure and other development projects. At the end of June, the PRC's debt-to-gross domestic product ratio was 84.6% versus 78.8% at the end of June 2018. The Asia Bond Monitor includes three discussion boxes that focus on the impact of US monetary policy uncertainty in emerging market currencies; the importance of domestic capital markets as a source of financing for corporates in emerging markets; and the challenges faced by financial markets on the use of other benchmark interest rates as they transition away from the widely used London Interbank Offered Rate, or LIBOR. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region. Powered by Commodity Insights |
| WTI Crude oil futures spiked sharply yesterday as a break above 100 day Exponential Moving Average (EMA) provided plenty of support. The counter hit a four month high of $63.38 per barrel before easing and currently lingers around $61.70 per barrel. The daily charts indicate that some correction is possible after the counter formed a candle right out sight the upper Bollinger Band. The RSI 14, currently placed around 64 mark has already eased after approaching near 68 yesterday. A reading of 70 is normally considered to be a sign of an overbought market. Powered by Commodity Insights |
|
|