E

BULLION METALS OUTLOOK -

GOLD -The Gold market is under long liquidation as market has witnessed drop in open interest by

-2.48% to settled at 6130 while prices down 150 rupees. Now Gold is getting support at 28914 and

below same could see a test of 28809 level, And resistance is now likely to be seen at 29162, a move

above could see prices testing 29305. Gold on MCX settled down -0.51% at 29020 as speculation grew

that the U.S. Federal Reserve would press ahead with a rate increase this month. Fed Chair Janet Yellen

said that the central bank is set to raise its benchmark interest rate later this month as long as economic

data on jobs and inflation holds up. Prior to Yellen's comments, the probability of a Fed move in March

had already risen to nearly 80 percent, money markets indicated, after hawkish comments from New

York Fed chief William Dudley and San Francisco Fed President John Williams. The gold demand in

India stood at 675.5 tonnes in calendar 2016compared to 857.2 tonnes in 2015 - a decline of 21.19%,

according to data released by World Gold Council on Friday. The total jewellery demand in India for

2016 was down by 22.4% at 514 tonnes as compared to 662.3 tonnes in 2015. The Gold is Expected to

trade in positive note for this week, The Significance Resistance for Gold is 29305-29553 and

Significance Support is 228917-28809.

Monday, 6 March 2017

GOLD CHART

Chart Details - The Gold is trading in a positive Territory Momentum Oscillators and RSI also are

trading in neutral phase with the signal of improving trend which is showing strong surge after the little

profitable selling. We are looking from the chart that; gold will show 1300 to 1500 above movements

from the sure crucial level, MCX gold makes pennant pattern on monthly technical chart which shows

boom pro move may continue on the crucial support Rs.28930 and Rs.28700 when likely to found low

price up to Rs.28700 by breaking Rs.28930 and being close below it. Near upper Bollinger band is

opening on Rs.29713 in MCX gold which will work as near resistance. Upper Bollinger band is

extending up to Rs.29939 by opening near Rs.29713 given that; the above price can be found 29939 to

30134 after crossing the given resistance and giving close on it. Traders should focus on $ 1213 as

support when $1258 as resistance in Comex gold during March.

SILVER - The Silver market is also under long liquidation as market has witnessed drop in open

interest by - 0.88% to settled at 11026. Now Silver is getting support at 42354 and below same could see

a test of 42177 level, And resistance is now likely to be seen at 42704, a move above could see prices

testing 42877. Silver on MCX settled down -0.26% at 42532 as growing expectations for a March rate

hike in the U.S. and a stronger U.S. dollar continued to weigh on the precious metal. The greenback

remained broadly supported after a number of Federal Reserve officials this week expressed their

support for a March rate hike. The U.S. Department of Labor said initial jobless claims declined by

19,000 to 223,000 in the week ending February 25 from the previous week’s total of 242,000. Fed Chair

Janet Yellen added her influential voice, saying a hike this month would be "appropriate" if economic

data hold up. Silver imports by India, one of the world’s top buyers, will probably shrink this year to the

lowest since 2012 as the government cracks down on black money, farmers struggle for cash and

stockpiles remain ample. The Silver is Also expected to trade in positive trend in this Week the

Significance Resistance is 42829-43358 and Support is 41883-41446.

SILVER CHART

Detail of Chart - MCX Silver is expected to trade in positive Trend The MACD is giving signal to

Move in the continue trend the Major Support for Silver is 42088-41843 and Major Resistance for Silver

would be 42498- breaks 41400, then it can fall down to 40300-38600. And on upper side it has major

Resistance at 43200-44820.

LEVE

MCX DAILY LEVELS✍

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 31-MARCH-17 135 132 129 127 126 124 123 120 117

COPPER 28-APR-2017 406 403 400 399 397 396 394 391 388

CRUDE OIL 20-MARCH-17 3688 3641 3594 3575 3547 3528 3500 3453 3406

GOLD 05-APR-2017 29801 29553 29305 29163 29057 28915 28809 28561 28313

LEAD 31-MARCH-2017 156 154 152 151 150 149 148 146 144

NATURAL GAS 28-MARCH-2017 196 193 190 189 187 186 184 181 178

NICKEL 31-MARCH-2017 768 756 744 740 732 728 720 708 696

SILVER 05-MAY-2017 43153 42795 42437 42217 42079 41859 41721 41363 41005

ZINC 31-MARCH-2017 194 191 188 187 185 184 182 179 176

MCX WEEKLY LEVELS✍ MCX WEEKLY LEVELS ✍

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 31-MARCH-17 142 137 132 129 127 124 122 117 112

COPPER 28-APR-2017 456 437 418 408 399 389 380 361 342

CRUDE OIL 20-MARCH-17 3972 3840 3708 3632 3576 3500 3444 3312 3180

GOLD 05-APR-2017 31751 30918 30085 29553 29252 28720 28419 27586 26753

LEAD 31-MARCH-17 169 163 157 153 151 147 145 139 133

NATURAL GAS 28-MARCH-2017 220 208 196 192 184 180 172 160 148

NICKEL 31-MARCH-2017 805 781 757 746 733 722 709 685 661

SILVER 05-MAY-2017 47675 46066 44457 43699 42848 42090 41239 39630 38021

ZINC 31-MARCH-2017 214 205 196 191 187 182 178 169 160

FOREX DAILY LEVELS✍ ILY LEVELS

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 26-MARCH-17 68.54 67.78 66.89 66.27 66.03 65.88 65.32 65.01 64.54

EURINR 26-MARCH-17 73.68 73.11 72.25 71.62 70.93 70.14 69.89 69.36 68.63

GBPINR 26-MARCH-17 84.12 83.74 83.08 82.49 81.70 80.48 79.50 78.70 77.67

JPYINR 26-MARCH-17 62.61 61.58 60.14 59.77 58.47 57.44 56.30 55.43 53.89

FOREX WEEKLY LEVELS✍ FOREX WEEKLY LEVELS✍

WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 26-MARCH-17 68.72 68.54 68.12 67.42 67.08 66.30 65.88 65.18 64.37

EURINR 26-MARCH-17 74.24 73.70 73.03 72.70 71.84 70.12 69.22 68.58 67.36

GBPINR 26-MARCH-17 92.67 91.78 90.20 88.32 86.21 84.58 82.33 80.60 78.88

JPYINR 26-MARCH-17 67.46 66.78 64.24 62.18 60.86 58.42 56.96 54.66 52.78

N✍

NCDEX DAILY LEVELS✍ CDEX DAILY LEVELS

DAILY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20-MAR-2017 682 677 672 670 667 665 662 657 652

SYBEANIDR 20-MAR-2017 2974 2950 2926 2912 2902 2888 2878 2854 2830

RMSEED 20-MAR-2017 4044 3999 3954 3929 3909 3884 3864 3819 3774

JEERAUNJHA 20-MAR-2017 17753 17463 17173 17002 16883 16712 16593 16303 16013

GUARSEED10 20-MAR-2017 3995 3919 3843 3801 3767 3725 3691 3615 3539

TMC 20-MAR-2017 7245 7115 6985 6911 6855 6781 6725 6595 6465

NCDEX WEEKLY LEVELS✍ DEX WEEKLY LEVELS

WEEKLY EXPIRY DATE R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20-MAR-2017 741 716 691 680 666 655 641 616 591

SYBEANIDR 20-MAR-2017 3154 3076 2998 2948 2920 2870 2842 2764 2686

RMSEED 20-MAR-2017 4407 4226 4045 3974 3864 3793 3683 3502 3321

JEERAUNJHA 20-MAR-2017 18997 18292 17587 17208 16882 16503 16177 15472 14767

GUARSEED10 20-MAR-2017 4444 4201 3958 3859 3715 3616 3472 3229 2986

TMC 20-MAR-2017 7709 7413 7117 6977 6821 6681 6525 6229 5933

MCX - WEEKLY NEWS LETTERS

INTERNATIONAL UPDATES ( BULLION & ENERGY ) ✍

GOLD

Gold prices fell on Friday and posted the largest weekly loss of 2017 so far amid growing expectations

that the Federal Reserve will raise interest rates later this month. Gold for April delivery settled down

0.52% at $ 1,225.5 on the Comex division of the New York Mercantile Exchange, having touched its

lowest since February 15 at $ 1,222.9 earlier. Gold finished the week down 2.5%. Gold then ticked up

0.13% to $1234.5 in after-hours trade. Fed Chair Janet Yellen said Friday that a rate hike "would likely

be appropriate" this month if the economy remains on track. The remarks cemented the view that the

Fed will raise interest rates at its next meeting on March 14-15, following a series of hawkish comments

by Fed Policymakers earlier in the week. Almost 80% of traders expect a rate hike at the Fed’s March

meeting, compared to just over 60% on Wednesday, according to Investing.com’s Fed rate monitor tool.

Higher interest rates are typically bearish for gold, which is denominated in dollars and struggles to

compete with yield-bearing assets when borrowing costs rise. Elsewhere in precious metals trading,

silver was at $ 17.99 a troy ounce late Friday, and ended the week down 3.5%, closing the week lower

for the first time in 2017. Copper was at $2.68 a pound and ended the week with a gain of just 0.26%.

Platinum was up 0.67% at $1,000.6 late Friday to end the week down 2.95%. In the week ahead,

markets will be looking ahead to Friday’s U.S. jobs report, which could seal the deal for a Fed rate hike

later this month. Investors will also be looking to the outcome of Thursday’s European Central Bank

meeting for fresh cues on the future direction of its stimulus program.

Gold fell 1 percent on Friday and was on track for its biggest weekly loss in 2017 as speculation grew

that the U.S. Federal Reserve would press ahead with a rate increase this month. Fed Chair Janet Yellen

said on Friday that the central bank is set to raise its benchmark interest rate later this month as long as

economic data on jobs and inflation holds up. to Yellen's comments, the probability of a Fed move in

March had already risen to nearly 80 percent, money markets indicated, after hawkish comments from

New York Fed chief William Dudley and San Francisco Fed President John Williams. "If there has been

a conscious effort (to raise expectations for a rate hike) I'm about to join it," Fed Vice Chairman Stanley

Fischer told an economists' forum, when asked about comments by other Fed officials this past week

that have boosted market odds of a March rate hike. gold XAU= was down 0.03 percent at $1,234.41 an

ounce by 2:22 p.m. EST, after falling 1 percent to $1,222.51, the lowest since Feb. 15. U.S. gold futures

GCv1 for April delivery settled down 0.5 percent at $ 1,226.50. Gold prices have retreated more than 2

percent after failing to decisively break through resistance at their 200-day moving on Monday. "The

market has responded very clearly to the more aggressive stance by FOMC members regarding rate

hikes in March," Mitsubishi analyst Jonathan Butler said. "It's fair to say that a rate hike in March is

pretty much priced into gold." Gold is highly sensitive to rising U.S. interest rates as they increase the

opportunity cost of holding non-yielding bullion, while boosting the dollar in which it is priced. The

world's largest gold-backed exchange-traded fund, SPDR Gold Shares GLD , reported a second daily

inflow on Thursday, of 1.8 tonnes, bringing the weekly rise to 4 tonnes. The dollar, however, took a

breather after two days of gains on Friday. Other precious metals, however, were firm. Spot silver

XAG= turned up 0.8 percent to $17.89 but was set to close the week lower for the first time in 2017.

"True to form, physical demand has not driven silver prices, but political uncertainty has driven greater

investor interest in silver," said Standard Chartered in a note. "The narrowing spread between platinum

and palladium calls into question whether the substitution of platinum for palladium will slow or even

reverse given some autocatalysts can make the switch on a 1:1 basis."

Gold fell 1 percent on Friday and was on track for its biggest weekly loss in 2017 as speculation grew

that the U.S. Federal Reserve would press ahead with a rate increase this month. Fed Chair Janet Yellen

said on Friday that the central bank is set to raise its benchmark interest rate later this month as long as

economic data on jobs and inflation holds up. to Yellen's comments, the probability of a Fed move in

March had already risen to nearly 80 percent, money markets indicated, after hawkish comments from

New York Fed chief William Dudley and San Francisco Fed President John Williams. "If there has been

a conscious effort I'm about to join it," Fed Vice Chairman Stanley Fischer told an economists' forum,

when asked about comments by other Fed officials this past week that have boosted market odds of a

March rate hike. gold XAU= was down 0.03 percent at $ 1,234.41 an ounce by 2:22 p.m. EST, after

falling 1 percent to $ 1,222.51, the lowest since Feb. 15. U.S. gold futures GCv1 for April delivery

settled down 0.5 percent at $ 1,226.50. Gold prices have retreated more than 2 percent after failing to

decisively break through resistance at their 200-day moving on Monday. "The market has responded

very clearly to the more aggressive stance by FOMC members regarding rate hikes in March,"

Mitsubishi analyst Jonathan Butler said. "It's fair to say that a rate hike in March is pretty much priced

into gold." Gold is highly sensitive to rising U.S. interest rates as they increase the opportunity cost of

holding non-yielding bullion, while boosting the dollar in which it is priced. The world's largest

gold-backed exchange-traded fund, SPDR Gold Shares GLD , reported a second daily inflow on

Thursday, of 1.8 tonnes, bringing the weekly rise to 4 tonnes. The dollar, however, took a breather after

two days of gains on Friday. Other precious metals, however, were firm. Spot silver XAG= turned up

0.8 percent to $ 17.89 but was set to close the week lower for the first time in 2017. "True to form,

physical demand has not driven silver prices, but political uncertainty has driven greater investor interest

in silver," said Standard Chartered in a note. "The narrowing spread between platinum and palladium

calls into question whether the substitution of platinum for palladium will slow or even reverse given

some auto-catalysts can make the switch on a 1:1 basis."

Gold demand in Asia was tepid this week with investors delaying fresh purchases anticipating a further

drop in local prices as the global spot market was pressured by expectations of a hike in interest rates by

the U.S. Federal Reserve. Spot gold XAU= was on track for its first weekly decline in five, its worst

since November, on growing expectations of a U.S. rate hike as early as this month.

Gold discounts in India, the world's second-largest consumer of the metal, expanded this week to their

widest in two months. "Consumers are expecting prices could drop below 29,000 rupees. That's why

they are delaying purchases," said Kumar Jain, vice president of the Mumbai Jewellers Association. In

the local market gold futures MAUc1 were trading around 29,125 Indian rupees per 10 grams on Friday.

Before starting to fall back, the prices had risen as much as nearly 9 percent from 26,862 rupees per 10

grams in December, the lowest level since February 2, 2016. Dealers in India were offering a discount of

up to $ 3 an ounce this week from official domestic prices, the widest it has been since the last week of

December. Last week, dealers were charging a premium of $1 an ounce. The domestic price in India

includes a 10 percent import tax. "Wedding season demand has been moderating. It will revive again in

April," said a Mumbai-based dealer with a private bank. Meanwhile, India's February gold imports

surged to 50 tonnes, up 82 percent from a year ago, on pent-up jeweller demand and as retail consumers

ramped up purchases for weddings, provisional data from consultancy GFMS showed. top consumer

China, physical demand for gold has been stable, traders said, with premiums being quoted between $

9-$12 an ounce over international spot prices XAU= , compared to the $7-$8 levels seen last week.

"China's jewellery demand remains subdued but investment demand is still doing well. "Broadly across

Asia, there has not been much of an appetite with many waiting for a further leg down in prices before

entering the market,"

Premiums in Hong Kong were around 50 cents to $1.10, compared to the 90 cents to $1 levels last week.

Prices in Japan were at a discount of 50 cents to $1, unchanged from a week ago."In Singapore, demand

for the yellow metal has been going down with people wanting to put money into riskier investments

like equities and even real estate.

Gold prices moved lower on Friday, as growing expectations for a March rate hike in the U.S. and a

stronger U.S. dollar continued to weigh on the precious metal. On the Comex division of the New York

Mercantile Exchange, gold futures for April delivery were down 0.41% at $1,227.85, the lowest since

February 15. The April contract ended Thursday’s session 1.37% lower at $ 1,232.90 an ounce.

Futures were likely to find support at $ 1,217.30, the low of February 15 and resistance at $ 1,247.60,

Thursday’s high. The greenback remained broadly supported after a number of Federal Reserve officials

this week expressed their support for a March rate hike. The dollar was also boosted after the U.S.

Department of Labour said initial jobless claims declined by 19,000 to 223,000 in the week ending

February 25 from the previous week’s total of 242,000. Analysts expected jobless claims to rise by 1,000

to 243,000 last week. The U.S. dollar index, which measures the greenback’s strength against a

trade-weighted basket of six major currencies, was down 0.13% at 102.03, not far from Thursday’s

seven-week high of 102.27. A strong U.S. dollar usually weighs on gold, as it dampens the metal's

appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other

currencies. More clues on interest rate hikes ahead of the central bank's March 14-15 meeting were

expected on Friday, with speeches scheduled from both Fed Chair Janet Yellen and Vice Chair Stanley

Fischer. Elsewhere in metals trading, silver futures for May delivery was little changed at $ 17.742 a

troy ounce, while copper futures for May delivery were steady at $ 2.690 a pound.

Gold prices resumed losses from the prior session during European morning hours on Thursday, amid

rising expectations that the Federal Reserve will raise interest rates later this month. Comex gold futures

declined $ 3.55, or about 0.3%, to $ 1,246.45 a troy ounce by 3:10AM ET, after losing around $ 4 on

Wednesday. Spot gold was down $ 4.00 to $ 1,245.60 per ounce. The U.S. dollar index, which measures

the greenback’s strength against a trade-weighted basket of six major currencies, was slightly higher at

101.86 in London morning trade. The index reached a seven-week high of 102.00 earlier. Treasury

yields were little changed, with the U.S. 10-Year bond at around 2.467%, close to a two-week high,

while the Fed-sensitive 2-Year yield hovered near a more than seven-year high of 1.308% touched on

Wednesday. Fed Governor Lael Brainard said on Wednesday that an improving global economy and a

solid U.S. recovery mean it will be "appropriate soon" for the U.S. central bank to raise interest rates.

Her comments added an important voice to the chorus of officials this week signaling rates may rise as

soon as mid-March. New York Fed President William Dudley said on Tuesday that the case for a rate

hike has become "a lot more compelling" and San Francisco Fed President John Williams said a rate

hike would be seriously considered at the March meeting and that he sees no reason to delay. More clues

on interest rate hikes ahead of the central bank's March 14-15 meeting are expected to come Friday,

when Fed Chair Janet Yellen speaks on monetary policy in Chicago. Vice Chair Stanley Fischer also

speaks Friday. Investors raised their outlook on a faster pace of U.S. rate increases following the flurry

of hawkish Fed comments this week. Futures traders are now pricing in around a 75% chance of a Fed

hike in March, up from around 25% at the start of the week. Odds of a second rate hike in September

currently stand at 63%, while a third hike in December is priced in at 53%, aligning market expectations

with the Fed's current forecast for three rate hikes in 2017. The precious metal is sensitive to moves in

U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting

the dollar in which it is priced. Also on the Comex, silver futures for May delivery dipped 6.1 cents, or

0.3%, to $18.42 a troy ounce after reaching $18.51 on Wednesday, the highest since November 11.

Meanwhile, platinum was down 0.2% to $1,017.55, while palladium shed 0.4% to $775.92 an ounce.

Gold gave back most of its losses on Wednesday as the dollar pared gains and bullion shrugged off

earlier pressure from U.S. Federal Reserve officials' comments that raised expectations of an interest rate

hike in March. New York Fed President William Dudley, one of the most influential U.S. central

bankers, said the case for tightening monetary policy had become "a lot more compelling," while San

Francisco Fed President John Williams said he saw "no need to delay" raising rates. gold XAU= was

down 0.1 percent at $ 1,246.83 an ounce by 2:12 p.m. EST, heading for a third straight day of losses.

The metal hit its highest since Nov. 11 at $1,263.80 on Feb. 27. U.S. gold futures GCcv1 settled down

0.3 percent at $ 1,250. The perceived probability of a March rate hike jumped to 67.5 percent from

roughly 30 percent after the Fed officials' comments on Tuesday, according to Thomson Reuters data.

"The initial reaction was a major sell-off. A lot of people are skeptical over how the percent changed

drastically. "Now people are digesting the information and looking at some of the outside

developments." Rising U.S. interest rates increase the opportunity cost of holding non-yielding gold,

while boosting the dollar. Data on Wednesday showed U.S. consumer price inflation jumped 0.4 percent

in January, the largest increase since February 2013, while consumer spending increased 0.2 percent.

Chair Yellen will be giving a speech on Friday. If Yellen's remarks also point to a rate hike in the near

future, this will weigh on the gold price. Expectations that President Donald Trump would give details

on U.S. stimulus plans on Tuesday were largely disappointed, as he failed again to provide detail on tax

reform and infrastructure spending. speech did, however, contrast with the harsher rhetoric investors

have come to expect, tempting some into riskier assets and knocking gold's appeal as a safe haven. The

dollar .DXY index climbed to a seven-week high but later pared losses. India's February gold imports

surged more than 82 percent from a year ago as consumers ramped up purchases for weddings,

provisional data from consultancy GFMS showed. silver XAG= rose 0.6 percent at $18.40 an ounce,

platinum XPT= fell 1.1 percent at $1,012.25 and palladium XPD= gained 0.9 percent at $775.75.

Gold prices fell toward a one-week low during European morning hours on Wednesday, after an

influential Federal Reserve policymaker jolted markets into higher expectations for a March U.S.

interest rate hike. Comex gold futures declined $ 9.75, or about 0.8%, to $ 1,244.15 a troy ounce by

3:15AM ET , pulling further away from a three-and-a-half-month high of $ 1,264.90 reached earlier this

week. Spot gold was down $ 4.50 to $ 1,243.80 per ounce. The metal hit its highest since November at

$1,263.95 on Monday. New York Fed President William Dudley, among the most influential U.S. central

bankers, said in an interview with CNN on Tuesday that the case for tightening monetary policy "has

become a lot more compelling" and that he sees a rate hike in the "relatively near future". Investors

raised their outlook on a faster pace of U.S. rate increases following his comments. Fed fund futures

priced in about a 70% chance of a rate hike in March., up from around 25% at the start of the week.

Odds of a May increase was seen at 74%, while June odds were at around 85%. More clues on interest

rate hikes ahead of the central bank's March 14-15 meeting are expected to come Wednesday. Comments

from Fed Chair Janet Yellen at the end of the week will also be in focus. The Fed chief is scheduled to

speak on Friday. The U.S. dollar index, which measures the greenback’s strength against a

trade-weighted basket of six major currencies, was up around 0.4% at 101.75 in London morning trade,

its strongest level in almost two months. Treasury yields shot up, with the U.S. 10-Year bond at around

2.410%, up from 2.358% on Tuesday. The precious metal is sensitive to moves in U.S. rates, which lift

the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar in which it

is priced. Meanwhile, markets digested a speech by U.S. President Donald Trump to Congress

overnight, which offered little details on his plans for infrastructure spending and tax reforms. The

president vowed to pursue massive tax relief for the middle class but stopped short of giving details.

India's February gold imports surged to 50 tonnes, up more than 82 percent from a year ago, on pent-up

jeweller demand and as retail consumers ramped up purchases for weddings, provisional data from

consultancy GFMS showed on Wednesday. The rise in imports by the world's second-biggest consumer

of the precious metal will support global prices XAU= that are trading near their highest level in 3-1/2

months, but could widen the South Asian country's trade deficit. "Pent-up demand on the ease of the

cash crunch and wedding related demand lifted imports in February," said Sudheesh Nambiath, a senior

analyst at GFMS, a division of Thomson Reuters.

In November, Prime Minister Narendra Modi scrapped 500- and 1,000-rupee banknotes, notes that were

86 percent of the value of cash in circulation, as part of a crackdown on corruption, tax evasion and

militant financing. gold imports had fallen to 27.4 tonnes in February 2016 as buyers postponed

purchases in anticipation of a reduction in the import duty in the budget at the time. February, retail

demand improved due to the wedding season and as cash supplies became normal, said Bachhraj

Bamalwa, a jeweller based in the eastern Indian city of Kolkata. But imports in March could fall as a

recent rally in prices has started deterring buyers. "Consumers are struggling to adjust with higher

prices. They are postponing purchases expecting a correction in prices. In the local market, gold futures

MAUc1 were trading at 29,380 rupees per 10 grams on Wednesday, up more than 9 percent since falling

to 26,862 rupees in December 2016, its lowest in 10 months. India's gold imports in 2016 had fallen

nearly 44 percent versus 2015 to 510.4 tonnes, the lowest level in 13 years. "Last year was an unusual

year. This year consumption and imports will rise as jewellery demand has been recovering," said

Bamalwa.

Gold could retreat back to $ 1,200 an ounce on technical and fundamental considerations. The precious

metal has rallied from its December low of $ 1,122.75 but there seems to be limited further upside

potential. RSI Oscillator is currently pointing to overbought levels, while prices are close to a reversal

point at the 61.8% Fibonacci level at $ 1,280.10. That level also coincides with the possible end of the

potential ABCD pattern. Gold also faces mounting pressure for a rise in short-term interest rates. FOMC

members of late have been talking up the rationale for a March interest rate hike. The scenario is

building for gold to form new lows well below the $1,046 mark in the medium term. In the short run,

gold could move toward the $ 1,280 mark before a breakout failure sends it sharply lower toward $1,200

in a matter of weeks.

Gold prices hit three-and-a-half month highs on Friday as hopes for rapid tax reforms under the Trump

administration faded, bolstering demand for the precious metal. Gold for April delivery settled up 0.53%

at $ 1,258.05 on the Comex division of the New York Mercantile Exchange, having touched its highest

since November 11 at $1,258.8 earlier. Gold finished the week with gains of 1.56%, notching up its

fourth straight weekly increase. On Thursday U.S. Treasury Secretary Steven Mnuchin said he wants to

see "very significant" tax reform passed before Congress' August recess, but indicated that much work

was still needed. He also suggested that any steps the Trump administration takes on policy would

probably have a limited impact this year. The remarks dampened expectations for policy changes that

investors had anticipated would spur inflation and drive up U.S. interest rates. Elsewhere in precious

metals trading, silver was at $18.40 a troy ounce late Friday, and ended the week up 2.24%, in its ninth

straight weekly gain. Copper was at $2.696 a pound and ended the week down 0.92%, its second straight

weekly drop as concerns over the demand outlook weighed. Platinum ended up 1.89% to $1,031.05 late

Friday, hitting its highest since February 9. In the week ahead, global financial markets will focus on

U.S. President Donald Trump's address to Congress on Tuesday for further details on his promises of tax

reform, deregulation and infrastructure spending. This week is also peppered with a handful of Fed

appearances, most importantly Fed Chair Janet Yellen on Friday. Investors will also be watching a

revised reading of fourth-quarter U.S. growth to gauge the strength of the economy. Private sector

survey data from the UK and euro zone inflation data will also be in focus.Ahead of the coming week,

The list of these and other significant events likely to affect the markets.

UPCOMING EVENTS OF MARKET

Monday, March 6

Australia is to release data on retail sales.

The U.S. is to publish figures on factory orders.

Minneapolis Fed President Neel Kashkari is to speak.

Tuesday, March 7

The Reserve Bank of Australia is to announce its benchmark interest rate and publish a rate statement

which outlines economic conditions and the factors affecting the monetary policy decision.

Germany is to release data on factory orders.

The U.K. is to release industry data on house price inflation.

The U.S. and Canada are to publish trade figures.

Wednesday, March 8

Japan is to publish revised data on fourth quarter economic growth.

China is to release data on the trade balance.

In the U.K., Chancellor Philip Hammond is to outline the government’s budget for the year.

The U.S. is to release the ADP non-farm payroll report.

Canada is to publish data on building permits.

Thursday, March 9

China is to release data on consumer and producer price inflation.

The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a

press conference with President Mario Draghi.

Canada is to report on new house price inflation.

The U.S. is to publish data on unemployment claims and import prices.

Friday, March 10

The UK is to release reports on manufacturing production and the trade balance.

Canada is to publish its monthly employment report.

The U.S. is to round up the week with the closely watched report on non-farm payrolls.

BASE METAL’S OUTLOOK :

BASE METAL GUIDE -

Trading Ideas :

NICKEL

Nickel trading range for the day is 721.6-744.

Nickel prices gained as support seen after update that The Philippines could consider banning

exports of unprocessed minerals such as nickel.

Prices remained supported on the potential for supply disruption from the world's top nickel ore

exporter.

Indonesia’s government is now discussing on nickel ore export quotas, according to sources

ZINC

Zinc trading range for the day is 183-189.4.

Zinc prices settled flat as pressure seen tracking LME prices slipped 0.2 percent to $2,775 a tonne as

the dollar largely retained recent gains.

Combined zinc inventories in Shanghai, Tianjin and Guangdong added 1,100 to 299,100 tonnes this

past week, data showed. Global zinc stocks across the London Metal Exchange, China and the

United States are now at their smallest since 2009 on a seasonal basis.

COPPER

Copper trading range for the day is 394.6-401.4.

Copper prices traded in range and ended with small gains amid concerns over a strike at the world's

largest copper mine in Chile.

Chile expects February growth, copper output hit by miners strike

BASE METAL

ZINC ✍

03-03-17

1 . London zinc prices have nearly doubled over the past 13 months and are closing in on nine-year

highs, but signs of tightening in the global market for refined zinc means the rally may have further to

run. Zinc bulls pushed prices higher after the closure of several giant zinc mines last year led to a steep

drop in global ore supply, setting the stage for a shortage of the metal used to rust-proof steel. There are

now signs that shortage is materialising, with global stocks shrinking and prices for spot metal rising,

just as post-holiday demand picks up in China and a strike at North America's second-largest zinc plant

further cuts supply.

06-03-17

Zinc futures traded 0.70 per cent lower at Rs 184.55 per kg on Monday after speculators trimmed

positions, tracking a weak trend at the domestic spot market. In futures trading at Multi Commodity

Exchange, zinc for delivery in current month declined by Rs 1.30, or 0.70 per cent, to Rs 184.55 per kg.

It clocked a business turnover of 669 lots. On similar lines, the metal for delivery in April softened by

Rs 1.10, or 0.59 per cent, to Rs 185.15 per kg in 53 lots. Market analysts said weakness in zinc futures

trade was mostly due to a falling trend in select base metals owing to muted demand from consuming

industries.

3.Zinc prices drifted lower by 0.37 per cent to Rs 176.35 per kg in futures trade as traders engaged in

trimming their positions, taking negative cues from spot market on fall in demand from consuming

industries. At the Multi Commodity Exchange, zinc for delivery in January declined by 65 paise, or

0.37 per cent, to Rs 176.35 per kg in a business turnover of 477 lots. In a similar fashion, the metal for

delivery in February shed 40 paise, or 0.23 per cent, to Rs 176.85 per kg in 2 lots. Market analysts said

offloading of positions by participants owing to slackened demand from consuming industries in the

spot market, kept zinc prices down at futures trade.

LEAD ✍

06-03-17

1. Amid sluggish domestic demand and profit-booking by speculators, lead prices softened 0.83 per cent

to Rs 149.30 per kg in futures trade. At Multi Commodity Exchange, lead for delivery in March month

moved down by Rs 1.25, or 0.83 per cent to Rs 149.30 per kg in business turnover of 434 lots. Likewise,

the metal for delivery in April contracts shed 95 paise, or 0.63 per cent to Rs 150 per kg in 36 lots.

Analysts said besides sluggish demand from battery makers in the spot market, trimming of positions by

traders to book profits at current levels, led to the fall in lead prices at futures trade.

2. Lead futures rose by 1.21 per cent to Rs 163.25 per kg today on the back of strong demand in spot

market and a firming trend overseas. At Multi Commodity Exchange, lead for delivery this month traded

higher by Rs 1.95, or 1.21 per cent, at Rs 163.25 per kg with a turnover of 407 lots. Metal for delivery in

far-month March also gained Rs 1.75, or 1.09 per cent to Rs 162.95 per kg in 11 lots. Marketmen said

pick-up in domestic demand, particularly from battery-makers, and a firming trend in base metal pack at

the London Metal Exchange, supported the upside in lead futures here.

COPPER✍

06-03-17

1. Copper futures traded 0.35 per cent lower at Rs 397.10 per kg as speculators offloaded bets.

Furthermore, subdued demand at domestic spot market pushed down metal prices. At the Multi

Commodity Exchange, copper for delivery in April shed Rs 1.40, or 0.35 per cent, to Rs 397.10 per kg,

in a business turnover of 831 lots. Also, metal for delivery in far-month June lost similar ground to trade

at Rs 400.70 per kg in 56 lots. Analysts attributed the fall to offloading of positions by participants amid

muted demand at the domestic spot markets. They said, however, gains in metal at the London Metal

Exchange , capped the losses. Meanwhile, copper gained 0.1 per cent, after two days of losses at the

LME.

2. Copper futures rose 1.13 per cent to Rs 417.75 per kg as participants enlarged positions, taking

positive cues from overseas markets and a pickup in spot demand. At the Multi Commodity Exchange,

copper for delivery in current month was trading higher by Rs 4.60, or 1.13 per cent, to Rs 412.75 per

kg, with a turnover of 1,541 lots. Similarly, the metal for delivery in far-month April contract was up by

Rs 4.50, or 1.09 per cent, at Rs 416.75 per kg, with a trade volume of 57 lots. Market analysts attributed

the rise in copper futures trade to a firming trend in metal at the London Metal Exchange , extending

Friday's jump that was the largest since 2013. Globally, copper for delivery in three-month rose 1.1 per

cent at the LME.

NICKEL ✍

Nickel prices were up by 0.56 per cent to Rs 720.50 per kg in futures trade today on pick up in demand

from consuming industries in the spot market amid a firm global trend. Nickel for delivery in March

moved up by Rs 4, or 0.56 per cent, to Rs 720.50 per kg in business turnover of 38 lots at the Multi

Commodity Exchange. Also, the metal for delivery in current month gained Rs 3.90, or 0.55 per cent to

Rs 714.70 per kg in 853 lots. Market analysts said besides pick-up in demand from consuming

industries, particularly alloy-makers, a firm trend in base metals in the global market, led to rise in

nickel prices at futures trade here.

NCDEX - WEEKLY MARKET REVIEW

CRUDE PALM OIL✍

Crude palm oil prices were up by 1.11 per cent to Rs 545.60 per 10 kg in futures trade today as

speculators indulged in enlarging positions, driven by a firm demand at the spot market. Besides, a

firming trend in overseas markets supported the uptrend. At the Multi Commodity Exchange, crude palm

oil for delivery this month rose by Rs 6, or 1.11 per cent, to Rs 545.60 per 10 kg, in a business turnover

of 436 lots. Similarly, the oil for delivery in far-month April went up by Rs 5.70, or 1.07 per cent, to Rs

537.40 per 10 kg in 155 lots. Analysts said widening of positions by participants amid pick up in

demand in the spot market against tight stocks position on restricted supplies from producing regions

mainly kept crude palm oil prices higher at futures trade.

MENTHA OIL✍

Mentha oil prices were up 0.61 per cent to Rs 1,048.40 per kg in futures market today as participants

widened their holdings on the back of rising demand from consuming industries at the spot market.

Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar

Pradesh also extended support to mentha oil prices uptrend. At the Multi Commodity Exchange, mentha

oil for delivery this month rose by Rs 6.40, or 0.61 per cent, to Rs 1,048.40 per kg, clocking a business

volume of 177 lots. The oil for April delivery traded higher by Rs 5.90, or 0.57 per cent, to Rs 1,049.70

per kg, with a trading volume of 23 lots. Analysts said fresh positions built up by speculators, driven by

rising demand from consuming industries in the spot markets against restricted supplies from Chandausi

led to the rise in mentha oil prices in futures trade.

✍ TURMERIC

Turmeric prices moved down by 1.64 per cent to Rs 6,726 per quintal in futures trade today as

participants reduced their exposure amid easing demand at domestic spot market against adequate stocks

position. At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs

112, or 1.64 per cent, to Rs 6,726 per quintal, with an open interest of 14,145 lots. Similarly, the spice

for delivery in May fell by Rs 88, or 1.29 per cent, to Rs 6,744 per quintal in 2,965 lots. Market analysts

said offloading of positions by traders, driven by fall in demand in the spot market against ample stocks

position on increased supplies from growing regions, mainly put pressure on turmeric prices at futures

trade.

MUSTARD SEED ✍

National Commodities and Derivative Exchange mustard April delivery futures jumped more than

1.55% on Tuesday, due to short-covering rally sparked for the near month contract (April) as market

participants rolled over to May from the lowest levels not seen since April 2015. NCDEX April Mustard

jumped to the highest levels for the month today even as the market is expecting a record-large domestic

crop this season. The agriculture ministry has set a production estimate of 79.12 lakh tonnes in the

2016-17 (Jul-Jun) crop year, up from 68 lt estimated production last year in the second advance

estimates for 2016/17 published in Feb 2015, "

The mustard prices on NCDEX jumped for second consecutive session from Rs. 3750 a quintal, which is

close to the minimum support prices declared by the government for 2016/17 crop, to trade near Rs.

3,850 levels today. The sudden surge in prices of RMseed / Mustard sees is mainly due to short covering

in near month contract (April delivery ) by the market participants and carry forward their positions to

far month contract (May delivery). The Open Interest (OI) decline for near month (April) to 42,340 lots

today (28-Feb-17) compared to 49,610 lots on Monday (27-Feb-17). However, OI increases for May

delivery contract from 14,600 tonnes to 16,320 tonnes thus see a fresh buying in the far month contract.

WHEAT ✍

1. Madhya Pradesh is expecting to emerge as the second largest wheat producing state in India with a

target of a record 20 million tonnes this year. Madhya Pradesh is known for its high-protein Sharbati

wheat variety and others like Durum, which are in demand for making pasta. The state discontinued

offering Rs 150 per kg bonus in 2014 following a central government order. Though the opposition

Congress contests claims of the government on wheat procurement, the yield is increasing since

2007-2008. In 2007, Madhya Pradesh’s wheat yield was 1,643 kg per hectare. “It is now expected to

reach 3,271 kg per hectare,” said ML Mina, director, state farmers welfare and agriculture development.

Farmers have provided more acreage to wheat. Sharbati, Durum and Lok-I fetch good returns. We will

be the second largest wheat producing state since weather conditions are favourable this year,” he added.

Punjab and Uttar Pradesh are the top two wheat producing states at present. Madhya Pradesh has

witnessed drought, frost, unseasonal rain and hailstorm during the past several seasons, yet farmers have

managed to maintain productivity. “Farm mechanisation plays a key role. Despite odd weather, farmers

are continuing with wheat,” he said.

2. The Centre has asked Madhya Pradesh, Rajasthan and Gujarat governments to soon start wheat

procurement as the new crop has started arriving in the local markets. The Food Corporation of India

and state government's agencies start wheat procurement from April.

The country is all set to harvest a record production of 96.64 million tonnes in 2016-17 crop year

(July-June) as against 92.29 million tonnes in the previous year. Enthused by estimates of bumper crop,

FCI has increased the target of wheat procurement to 33 million tonnes for the 2017-18 marketing year

from 23 million tonnes purchased during the current year. "Wheat harvesting has begun. Early variety

crop has started arriving in the markets of Gujarat, MP and Rajasthan. We have asked the states to

prepone procurement operations to ensure farmers get the minimum support price," a senior food

ministry official told PTI.

3. Non-fumigated wheat that could harm people eating it could be entering India despite government

rules to not allow such imports. The rules will be made tighter from March 31, but some importers have

devised ways to bring in such wheat by producing fake fumigation documents. Wheat imports to India

must be fumigated with methyl bromide at the port of origin. If this is not done, consignments are

fumigated at Indian ports. From March 31, fumigation will have to be done only at the port of origin.

CEREAL ✍

As cereal prices slump in India on estimates of bumper production, the threat of adverse climatic

conditions has pushed up their prices in global markets. Prices of cereals, led by wheat, have reported up

to 11 per cent declines in local markets since January. The government’s second advanced estimates a

fortnight ago put India’s grain output at a record 271.98 million tonnes in 2016-17, up from 251.57

million tonnes in 2015-16. According to the National Commodity and Derivatives Exchange, wheat

prices in the Rajkot spot market have declined by 11.03 per cent since January to Rs 1,600 a quintal and

barley prices in Delhi declined by 5.71 per cent to Rs 1,858.35 a quintal. The Food and Agricultural

Organisation in its latest report forecast a 1.8 per cent decline in the global production of wheat at 744.5

million tonnes in 2017.

SUGAR - ✍

As the sugar season in some of the western and southern states like Maharashtra, Karnataka is coming to

an early end, the Indian Sugar Mills Association said on Thursday, “Sugar stocks in the mills of north

India, especially in Uttar Pradesh , are higher because of good production compared to last year.”

Considering that 156 mills are still operating (crushing) in the northern part and are likely to continue till

April, it is expected, a higher quantity of sugar will be produced from this region than the

drought-affected states in the west and south. This will boost total stocks. ISMA refused to furnish data

of inventories but, said stock was notably low in the western and southern mills. According to Isma, a

total of 107 mills are continuing their operations in UP.

Till end of February, mills have produced 6.24 million tonnes of sugar, 17 per cent higher in comparison

to last year’s production of 5.35 MT. This year UP has emerged as the top sugar producing state in the

country. Maharashtra, with its 17 mills in operation of the 153, may end at a distant second. In

Karnataka, only one sugar mill is functional. The state had produced 2.50 mt compared to 3.61 mt last

year.

ONION ✍

Prices of onions have collapsed on the back of two consecutive bumper production years, proving once

again that when farmers grow more, they get less. According to government data, the wholesale modal

onion prices at Lasalgaon in Maharashtra, the biggest trading centre for onion in India, dropped between

30-40 per cent after the November note ban. The cost of production of onion is around Rs 800-900 per

quintal, while prices are hovering around Rs 500 per quintal across major wholesale markets. Onion

prices have come down substantially at the retail level as well, during the past one year. Around

January-February last year, onion prices were around Rs 20-22 per kg, against Rs 12-14 per kg at

present.The prices are expected to remain low, as fresh arrivals of the crop continue till May 2017.

Onion harvest generally takes place between September and May, divided into three seasons-pre-Kharif,

Kharif and Rabi.

PULSES - ✍

Storage issues might resurface at Food Corporation of India after two years of low grain procurement as

the target for rabi wheat purchase this year has been increased sharply. The food ministry in a statement

on February 15 set a 33 million tonne wheat procurement target for the season beginning April, a jump

from the previous year’s procurement of 22.96 million tonnes. While the target is for the entire year,

much of the procurement happens between April and June.

Government agencies, including FCI and state government warehousing companies, have procured

43.71 million tonnes of paddy by February 15. Also, FCI in association with the Small Farmers’

Agribusiness Consortium and National Agricultural Cooperative Marketing Federation of India has for

the first time procured 1 million tonnes of pulses till February 15.

PALM OIL ✍

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS

➢ Malaysian palm oil futures rose slightly late on Friday, charting a fourth consecutive session of

gains on forecasts that February inventory levels could remain flat.

➢ U.S. corn, soybean and wheat futures all closed modestly higher on Friday, recovering from early

weakness on a mild round of technical buying.

➢ Oil prices surged on Friday, as a weaker dollar encouraged buying but investors remained

cautious after Russian production figures showed weak compliance with a global deal to cut output.

MARKET NEWS

Wall Street stock indexes and the U.S. dollar both posted gains for the week on Friday after Federal

Reserve Chair Janet Yellen confirmed market expectations for an interest rate rise in March but profit

taking saw equities and the greenback slip for the day.

( March 4 - 2017 )

Robusta coffee futures on ICE fell on Friday, pressured by physical selling in top producer Vietnam,

while cocoa rebounded further above multiyear lows on chart-based buying and sugar prices eased.

COFFEE

May robusta LRCc2 settled down $21, or 0.95 percent, at $2,194 per tonne, after a sharp rally lifted

prices 3.1 percent in the previous session.

Dealers said Thursday's gains had triggered origin selling in Vietnam as producers sought to lock in

attractive prices.

"That has put a temporary cap on the market," one dealer said. "Underlying fundamentals are still

positive, but short term, I think it will have to eat through a little bit of selling."

May arabica KCc2 settled down 1.05 cents, or 0.7 percent, at $1.433 per lb.

COCOA

May New York cocoa CCc2 settled up $27, or 1.4 percent, at $1,955 per tonne. Total New York cocoa

open interest rose to a record 286,094 lots on Thursday, climbing for the eighth straight session, ICE

data showed.

Prices extended the prior session's gains, when futures tapped a 9-1/2-year low before rallying to

close higher, creating a technical buy signal, traders said.

The market, however, has not yet appeared to have found a bottom, traders said.

Cocoa fundamentals remained bearish with plentiful supplies from top grower Ivory Coast still in

focus.

May London cocoa LCCc2 settled up 28 pounds, or 1.8 percent, at 1,605 pounds per tonne.

SUGAR

May raw sugar SBc1 settled up 0.18 cent, or 0.9 percent, at 19.66 cents per lb.

Chart-based support came from a so called triple bottom at 19.1 cents, the session low of the past

three sessions.

While the market digested Tuesday's news that the March delivery was unexpectedly the biggest for

that contract, with traders seeing Wilmar International Ltd as the sole buyer, some viewed it as bullish.

One would assume the delivery has accounted for a significant amount of currently available stocks,

already tight globally, and over the past few days we have seen reluctance by the trade to push the

market down to and through 19 cents.

However, a modest premium on the front month indicated the market was betting on sufficient

Brazilian production, the Commonwealth Bank of Australia said in a note.

"Chatter continues to discuss a dearth of sugar in the second quarter," analyst Tobin Gorey wrote.

"The market's pricing does not share that worry for now."

May white sugar LSUc1 settled up $4.20, or 0.8 percent, at $543.60 per tonne.

May raw sugar SBc1 settled down 0.14 cent, or 0.7 percent, at 19.52 cents per lb.

Dealers said the focus was on India, where there are signs that the world's top consumer will import

less sugar than expected to offset tightening supplies and rising domestic prices.

Some 107 sugar mills were still crushing cane at the end of February in Uttar Pradesh, a major

producing region, with output up 17 percent, the Indian Sugar Mills Association (ISMA) said on

Thursday.

May white sugar LSUc1 settled down $ 1.70, or 0.3 percent, at $ 541.90 per tonne.

The premium for August white sugar over the July raws contract LSU-SB2=R rose above $117, its

highest since 2013.

"The premium is reflecting the increasing belief that whites will have to come into India at one

point," said one dealer.

( March 3 - 2017 )

Robusta coffee futures fell on Friday on physical selling in top producer Vietnam, while sugar eased on

signs that India may need to import less sugar than expected.

COFFEE

May robusta LRCc2 fell $17 or 0.77 percent to $2,198 per tonne by 1220 GMT, after a sharp rally

lifted prices 3.1 percent in the previous session.

Dealers said Thursday's gains had triggered origin selling in Vietnam, as producers sought to lock in

attractive prices.

"That's put a temporary cap on the market," one dealer said. "Underlying fundamentals are still

positive but, short-term, I think it will have to eat through a little bit of selling."

May arabica KCc2 dipped 0.15 cents, or 0.10 percent, to $1.442 per lb.

SUGAR

May raw sugar SBc1 fell 0.16 cents or 0.81 percent to 19.50 cents a lb.

Dealers said focus was on India, where there are signs that the world's top consumer may need to

import less sugar to offset tightening supplies and climbing domestic prices.

Some 107 sugar mills were still crushing cane at the end of February in Uttar Pradesh, a major

producing region, with output up 17 percent, the Indian Sugar Mills Association said on Thursday.

May white sugar LSUc1 also fell $2.60 or 0.48 percent to$541.00 per tonne.

However, the premium for August white sugar over the July raws contract rose to above $105, its

highest since November 2016.

"The premium is reflecting the increasing belief that whites will have to come into India at one

point," said one dealer.

COCOA

May New York cocoa CCc2 rose $23 or 1.19 percent to $1,951 a tonne, gaining further ground after

a volatile session on Thursday where prices rebounded sharply after touching 9-1/2 year lows. Futures

continued to be driven mainly by technicals, with dealers characterising the gains as a correction.

Cocoa fundamentals, however, remained bearish with plentiful supplies from top grower Ivory Coast

still in focus.

May London cocoa LCCc2 also rose, gaining 31 pounds or 1.97 percent to 1,608 pounds a tonne.

Futures had rebounded from 3-1/2 year lows in the previous session.

A weaker pound added support to London prices, as sterling hit a 7-week low on weak UK economic

data.

Castor oil in non-edible section today strengthened in Vidarbha region of Western Maharashtra on

increased offtake by soap industries amid healthy rise in producing belts. Weak production estimates

also fuelled prices. Trading activity in other edible oils reported weak as no trader was in mood for any

commitment because of notable hike in international edible oils, sources said Friday.

VIDARBHA MARKETS OILS

SOYMEAL

Soymeal prices today recovered here on good demand from South-based traders amid

WEAK SUPPLY FROM LOCAL CRUSHING PLANTS.

SOYABEAN

Soyabean prices moved down in Nagpur Agriculture Produce Marketing

Committee on poor buying support from local crushing plants amid high

moisture content arrival. Fresh fall in Madhya Pradesh soyabean prices and release

of stock from stockists also pushed down prices.

About 800 soyabean bags reported for auctions here, according to sources.

SOYOIL

Indian soyoil futures rose on Thursday aided by higher demand to buy the contract at a significant

discount. As of 1304 GMT, March soyoil futures NSOH7 were up 0.4 percent at 668 Indian rupees

$10.01 per 10 kg on the National Commodity & Derivatives Exchange Ltd. The most-actively traded

Indian soybean futures NSBH7 dropped 0.3 percent to 2,915 rupees per 100 kg. The April rapeseed

contract NRSJ7 rose 0.8 percent to 3,915 rupees per 100 kg, while the March corn futures NMZFH7

were down 0.2 percent at 1,402 rupees per 100 kg.

Indian soyoil futures fell on Wednesday despite a rise in the prices of soyoil contract on the Chicago

Board of Trade and Malaysian Palm. Malaysian palm oil futures jumped to a one-week high on

Wednesday, supported by strong gains in Chicago Board of Trade soyoil. of 1224 GMT, March soyoil

futures NSOH7 were down 1 percent at 668.50 rupees per 10 kg on the National Commodity &

Derivatives Exchange Ltd. The most-actively traded Indian soybean futures NSBH7 fell 0.5 percent to

2,922 rupees per 100 kg. "Soyoil and soybean contracts are down mainly due to profit-booking. The

April rapeseed contract NRSJ7 rose 1 percent to 3,885 rupees per 100 kg, while the March corn futures

NMZFH7 were largely flat at 1,403 rupees per 100 kg.

SOYABEAN

Soyabean oil prices geared up in Vidarbha region of Western Maharashtra today on increased offtake by

vanaspati millers amid a firming global trend. Buying activity reported high as palm oil prices in

Malaysia, the second largest producer, quoted strong. Healthy hike on NCDEX, Upward trend in

American soya digam prices and notable rise in Madhya Pradesh edible oil also boosted sentiment,

sources said Wednesday.

SOYMEAL

Soymeal prices ruled recovered strongly here on renewed demand from South-based

Traders amid thin supply from local crushing plants. Fresh rise in overseas soymeal

SOYABEAN

Soyabean prices firmed up again in Nagpur Agriculture Produce Marketing

Committee on good buying support from local crushing plants amid weak supply

from producing regions. Notable hike in Madhya Pradesh soyabean and upward trend on

NCDEX also helped to push up prices.

About 400 soyabean bags reported for auctions here, according to sources.

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