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Friday, November 4, 2011
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Thursday, November 3, 2011
Trials in Low-Rent Bastion in Silicon Valley
Apartment giant Equity Residential has run afoul of a working-class community at the northern end of Silicon Valley by trying to buy the area's largest complex of rent-controlled housing, which has been coveted by investors for years.
Equity Residential, whose chairman is Sam Zell, is negotiating to buy the Woodland Park Apartments, a 1,800-unit complex in East Palo Alto, Calif., that has remained a low-rent bastion in a region that has seen market-rate rentals soar. That upward pressure is expected to continue now that Facebook has chosen a 57-acre Menlo Park complex for its new headquarters, less than two miles from Woodland Park.
Ariel Zambelich for The Wall Street Journal The complex at 5 Newell Ave. is the largest in the stretch of Woodland Park properties in East Palo Alto.The previous buyer of the complex, an investment group that acquired it during the boom years, planned to raise rents but ended up losing the property in a Wells Fargo & Co. foreclosure. Wells Fargo is in talks to sell the property to Equity Residential for an undisclosed sum, according to people familiar with the matter.
But city officials in East Palo Alto have voiced their opposition. A majority of the City Council has expressed "grave concerns with the bank's decision to sell the portfolio as a single unit," states a recent letter to Wells Fargo Chief Executive John Stumpf, from Carlos Romero, the city's mayor.
Equity Residential and Wells Fargo declined to comment.
City officials and residents don't want to give a single buyer too much control over such a large amount of East Palo Alto's rental housing. While the units are subject to rent control, officials are concerned that Equity Residential would raze some of them and build higher buildings filled with market-rate apartments.
The potential deal "scares this community to death," Mayor Romero said.
The maneuvering over Woodland Park comes as apartment rents are rising throughout most of the U.S. Despite the softness of the overall economy, landlords have been benefiting from the housing crisis, which has turned millions of would be home-owners into renters.
With rents and occupancies rising, the values of apartment buildings have soared. While the biggest increases have been in upscale areas, investors also have begun to spill over into lower-rent areas like East Palo Alto.
Woodland Park includes an older assortment of apartments and homes. Rents currently range from $800 to $1,400 a month, and this year, landlords were limited to a 1.4% increase, said William Byron Webster, senior member of the East Palo Alto Rent Stabilization Board.
Mr. Webster says many residents couldn't afford to live in the surrounding area. In the third quarter, market-rate rents in the region were a median of $1,588, well above the national $1,004 median, according to Reis Inc. In one of Equity Residential's Palo Alto communities, one-bedroom apartments start at $2,065, according to its website.
Just 2.6% of East Palo Alto's units are vacant, well below the national 5.6% rate, leaving few apartments up for grabs and creating competition for the ones that are available.
Woodland Park was acquired during the boom years in a series of transactions by investors led by Page Mill Properties, which put a $240 million mortgage from Wells Fargo on the property. The deal was embarrassing to one of the investors, pension giant Calpers, which subsequently said it would prohibit excessive rent increases and the "involuntary displacement" of low-income households in its real-estate investments.
City officials believe that Equity Residential's interest in the site stems partly from the Facebook deal. "I have suggested [Facebook CEO Mark] Zuckerberg could be appealed to discourage his employees from settling on the east side of Palo Alto," says Mr. Webster
Local leaders acknowledge they probably can't stop the sale. But they say they'll do what they can to block any redevelopment that Equity Residential might attempt.
The new tax revenue that would result from improving the property wouldn't be worth the displacement, they say.
"We may get a community center, we may get repaved streets, but our residents who are around today would not be around to enjoy those improved community amenities," Mayor Romero said. "And that would be a travesty."
Write to Dawn Wotapka at dawn.wotapka@dowjones.com
Turmeric likely to decline on higher arrivals
Last Updated : November 03, 2011 10:11
MUMBAI (Commodity Online): Turmeric rates fell in the Spot and the futures markets as lower demand amidst moderate arrivals kept pressurizing the market sentiments. Prospects of demand rising in coming weeks could limit the downtrend however.
Traders expect the trend to remain volatile in the short term as improved production prospects and higher stocks could keep the prices under check to some extent.
Rains in growing areas in Andhra Pradesh and other nearby states have been pressurizing prices in apprehension of better crop prospects. Improved arrivals in AP have kept further pressure on the prices.
Good Monsoon reports in AP has reportedly keeping the sowing activities proper. The area sown would however depend on market rates and if falling trend continues, traders expect the sowing area may fall as farmers may shift to other lucrative crops like cotton, soybean etc.
The total production this year is expected to touch 75-85 lakh bags (1 bag-75kg) - higher than the 65-70 lakh bags in 2010-11. Higher acre-age from the high rates is stated the reason for the rise in expected production as per traders.
Good stocks and increased selling pressure along with weak demand in the mandis have kept trend weak for the commodity over the last few weeks. The sowing period is from June-August and harvesting begins in January.
Exports that had remained low are however expected to rise in coming weeks from Europe, US, West Asia and Japan.
Latest reports from Spice Board of India indicates the expected Turmeric exports for the period April-August 2011 have risen by 52% to 36,500 MT in 2011 from 24,000 MT in 2010 same period.
Courtesy: Religare Commodities
Volatile trend to witness in India chana
Last Updated : November 03, 2011 10:17
MUMBAI (Commodity Online):Absence of fresh Fundamental factors kept trend sideways for Chana.
Profit booking at higher levels prevented major uptrend for this commodity as overall trend remained slight firm in the Spot markets. Raising MSP of Rabi crop supported market sentiments.
MSP of Gram was raised by 33% to Rs 2800/Q from Rs 2100/Q. This is likely to support Chana rates in medium term.
Traders feel that rates have moved up significantly over last few months —and even though Festive demand continues, some selling pressure cannot be ruled out before demand picks up again at the lower levels.
1st Advance Govt estimates of a fall in Pulses production to 6.43 million tonnes vs last estimates of 7.12 million tonnes could support the short to medium term rates for Chana.
The other major producers for Pulses namely Myanmar, Australia and Canada are likely to report a fall in Pulses production due to adverse weather conditions in those countries. The Indian imports are likely to get costlier in coming months which could support the Chana rates.
Shifting to other more lucrative crops like Cotton and soyabean have resulted in lower acreage for chana.
Courtesy: Religare Commodities
Asia Markets Skid on Greece
SINGAPORE—Most Asian stock markets dropped Wednesday, as Greece's plan to hold a referendum on its newly crafted bailout package rattled investors, sending the Tokyo market to a three-week low and denting oil prices.
"Global market sentiment has performed a 180-degree turn in recent days," said Tim Waterer, senior foreign exchange dealer with CMC Markets in Sydney. "News of a proposed Greek referendum on whether or not to accept the bailout package has completely come from left field and has traders flabbergasted."
Several markets managed to recoup morning losses as traders awaited the outcome of the U.S. Federal Reserve's rate-setting meeting later in the global day. News that embattled Greek Premier George Papandreou's plan for a referendum on the country's latest bailout package had been unanimously passed by the Greek Cabinet earlier in the global day also helped prop markets. The referendum is likely to take place before Christmas, slightly earlier than previously expected.
Still, investors were keeping their distance from riskier assets amid the fresh euro-zone jitters.
"Markets are seriously pondering a disorderly default in Greece...Risk assets remain a sell on rallies against the background of prolonged European uncertainty," said Crédit Agricole strategist Mitul Kotecha.
Japan's Nikkei Stock Average was down 1.8% after earlier hitting a three-week low, while Australia's S&P/ASX 200, after briefly falling as much as 2% to a one-week low, was down 0.8%. South Korea's Kospi Composite and Hong Kong's Hang Seng Index were both down 0.9%, China's Shanghai Composite Index was off 1% and India's Sensex was flat.
Dow Jones Industrial Average futures were up 20 points in electronic trading.
Growth-sensitive stocks were down across the region, with heavy selling taking a toll on oil, resources and financial shares, as investors worried that the European debt crisis could tip the global economy into a double-dip recession. Most stocks were, however, up from their morning lows.
In Sydney, Rio Tinto was down 0.9% and Westpac Bank was off 0.8% while in Tokyo, Toyota Motor was 3.1% lower, Sumitomo Metal Mining 3.3% lower and Inpex 0.8% lower. In Shanghai, Jiangxi Copper was down 3.1% and Citic Securities was off 1.6%, and in Hong Kong, PetroChina was 1.7% lower, Bank of China 2.2% lower and Citic Resources 3.7% lower.
Earnings reports also continued to buffet trading in the region. Australia's OneSteel tumbled 14% after saying its first-half profit could be down 70% due to weak iron-ore prices and a strong Australian dollar.
The euro remained hostage to headlines out of Europe, but the Greek cabinet's approval of the referendum plan appeared to help the currency as well as the Australian dollar recoup earlier losses. Still, traders cautioned of risks to the downside.
"That everything would bounce on the Greek cabinet decision shows us just how much this is a lose-lose situation. Any near-term stability, especially with worrisome ramifications, shouldn't be a sign to buy," said Michael Turner, a strategist at RBC Capital Markets.
The single currency was fetching $1.3716 after earlier sliding to $1.3658, from $1.3700 late Tuesday in New York, and ¥107.17, from ¥107.40. The dollar was at ¥78.12, compared with ¥78.38.
Gold, a traditional safe haven, also briefly lost ground amid expectations investors may be forced to sell down the yellow metal to meet margin calls elsewhere. Spot gold was recently at $1,723.40 per troy ounce, up $3.50 from its New York settlement Tuesday.
December Nymex crude oil futures were down 76 cents at $91.43 per barrel on Globex.
Write to Shri Navaratnam at shri.navaratnam@dowjones.com
Barclays: Russian oil production hits all time high 10.34 mb d in Oct
Last Updated : November 03, 2011 01:37
LONDON (Commodity Online): Crude Oil markets came under pressure in early trade on Tuesday as a combination of weak macro economic indicators in the form of a weaker than expected Chinese PMI and US ISM data along with sentiment surrounding the Greek referendum weighed. The key benchmarks however produced a stellar rebound later in the day offsetting most of the losses; with front month Brent ending marginally lower by 2 cents at $109.54/bbl while the equivalent WTI contract edged lower by $1 to $92.19/bbl. With macro data remaining the key driver, potential shortfalls in demand remain the mainstay of market focus. Yet, problems in the supply side persist.
In the latest data from the FSU, Russian oil production scaled another all-time high of 10.34 mb/d in October. However, the y/y growth slowed to just 70 thousand b/d, half the year-to-date average of 125 thousand b/d. With domestic consumption remaining high (crude deliveries to domestic refineries were up 1.8%), exports to countries outside the CIS fell by 5.5% y/y, continuing a trend of monthly declines in export volumes that had started in May, with the only exception in September, when crude exports rose y/y by 2.2%.
The rest of the Caspian region remained marred with problems too, with September data for Azerbaijan and Kazakhstan both showing y/y decreases. In the former, crude oil output fell by 12% y/y to 940 thousand b/d, while Kazakhstan’s output fell to 1.61 mb/d, despite the end to the prolonged strike action impacting KazMunaiGaz’s output since the end of May. The recovery back to full output has been slow and is likely to weigh on output in Q4, keeping Kazakhstan’s output broadly flat this year.
Azerbaijan’s production, on the other hand, is likely to get worse over the next few months. BP has already begun work at its 130 thousand b/d East Azeri field, shutting the field on 20th October to carry out major maintenance at its ACG complex. The first phase of the closures is expected to take around 10-15 days.
The second phase of the scheduled maintenance will begin on 14th November with the closure of the 220 thousand b/d West Azeri field, reducing Azerbaijan’s monthly output by an estimated 150 thousand b/d. The final stage of the work will be carried out from 1st December at the Central Azeri platform, reducing average monthly production by an estimated 100 thousand b/d.
The ACG project is the main source of crude feeding the BTC oil pipeline, with scheduled volumes through the pipeline in November set to drop to only some 500-600 thousand b/d, compared with normal levels of about 800 thousand b/d. Production is also running lower than initial expectations and compared to last year’s levels by 75 thousand b/d, with Azerbaijan likely to miss its official target of 1.03 mb/d.
Against a problematic non-OPEC supply backdrop, OPEC output is broadly constant, with the latest OPEC estimates survey from Bloomberg and Reuters offering a contrasting picture on the group’s output for October with the Reuters survey indicating a 310 thousand b/d drop in output while Bloomberg estimates show an increase of 125 thousand b/d. Though both the surveys are similar in indicating that declines from Iraq, Nigeria and Saudi Arabia offset most of the increases seen in Libyan supplies, there is a wide difference in the spectrum of estimations.
NCDEX Coriander trades lower on weak demand
Last Updated : November 03, 2011 11:59AHMEDABAD (Commodity Online): NCDEX Coriander for November Delivery traded down 1.66% on Thursday due to weak domestic as well as International demand.
According to Anil Patadia, Agri-Analyst, Commodity online, weaker rupee may have contributed to slowdown in demand for the commodity in domestic and international markets and hence fall in NCDEX prices.
On NCDEX, Coriander for November contract traded down 1.66% or Rs 84 dropped to Rs 4974 on 3rd November at 11:30 IST
MCX crude oil declines on higher inventory and weak China
Last Updated : November 03, 2011 11:41MUMBAI (Commodity Online): MCX Crude Oil is trading lower by 0.64% on Thursday morning trade on higher than expected US inventories and weakening Chinese manufacturing activity.
MCX crude oil November is trading at Rs 4512 after opening at Rs 4534 while NYMEX WTI crude oil December is trading at $91.56, down $0.95.
-The EIA reported that the US crude oil inventories had rise by 1.8 million barrels against the market expectations of a lower 1.4 million barrels. A higher than expected inventory buildup indicates weakening demand.
-Chinese manufacturing and non manufacturing activity slipped for the month of October as their PMI's indicated. China is one of the major consumers of Crude Oil and as such any negative news from the country will affect oil prices.
Technical Target by Angel Commodities for Nov 3
Support seen at Rs 4418 and Rs 4480 while Resistance expected at Rs 4573 and Rs 4667
Pepper may trade down on profit booking
Last Updated : November 03, 2011 10:11
MUMBAI( Commodity Online): Moderate profit booking was observed for Pepper as other Spices fell. No strong reports emerged from the markets however.
Traders expect fall in rates over last few days have been significant and an expected rise in exports in coming weeks could support the price further.
Slight improved production prospects from Kerala and Karnataka and arrival of the new crop could limit the uptrend. Overall Fundamentals remained firm however from lower stocks and lower production amidst expected rise in export demand n coming weeks.
Exports and domestic demand from North India remained good. Traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain Bullish for the commodity from a medium to long term point of view.
Strengthening in the Dollar vs Re rates could have beneficial impact on the export front. But short term correction possibilities remain.
Traders expect that good demand and a firm trend in Vietnam could support the rates further. Good demand from Gulf countries sup-porting the rates. Demand from China and West Asia also reported.
IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carryforward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT. Indian production expected to decline to 48,000 MT.
Vietnam is having low stocks as per reports. The production there too is expected to fall this year as per some estimates. Brazil and Indonesian crop expected to be lower. Low carryover stock in Brazil and Indonesia is likely to raise exports here in coming months.
Reports of farmers shifting to other more profitable crops have affected the production aspects for the crop in India.
Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.
Courtesy: Religare Commodities
Jeera may further fall on subdued demand
Last Updated : November 03, 2011 10:10
MUMBAI (Commodity Online):Higher arrival pressure kept sentiments weak for Jeera as it failed to hold onto the upside movement early on.
Demand is still to pick up on the export front. Traders anticipate short term bearishness sentiments to prevail till exports pick up.
Medium term trend looks firm from expected rise in export demand but short term trend is expected to remain volatile. A firmness in Dollar vs Re too could support the export factor.
Reports of adverse weather conditions in other major producers like Turkey and Syria have created apprehensions of lower output there. Syrian production expected at 40000 tonnes and that in Turkey lower at 12-15000 tonnes.
Indian production expected at 28-30 lakh bags translating to more than 1.5 lakh tonnes.
Export demand from US and EU could also rise at these lower levels in com-ing weeks and that could have a moderate bullish impact on the prices.
Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.
Courtesy: Religare Commodities
Busy Trading Boosts CME
CME Group Inc.'s third-quarter earnings jumped 29% amid a double-digit jump in clearing and transaction fee revenue, but the results were overshadowed by the exchange operator's exposure to the bankruptcy of MF Global Holdings Ltd.
The chief executive of CME said Tuesday that exchange staff and regulators were still trying to get a handle on the collapse of broker-dealer MF Global, which slid into bankruptcy Monday.
A nagging sovereign-debt crisis in Europe, which helped bring down MF Global, and investor concerns over economic ...
CME Group Inc.'s third-quarter earnings jumped 29% amid a double-digit jump in clearing and transaction fee revenue, but the results were overshadowed by the exchange operator's exposure to the bankruptcy of MF Global Holdings Ltd.
The chief executive of CME said Tuesday that exchange staff and regulators were still trying to get a handle on the collapse of broker-dealer MF Global, which slid into bankruptcy Monday.
A nagging sovereign-debt crisis in Europe, which helped bring down MF Global, and investor concerns over economic ...
MCX copper down 0.75% on negative China and US outlook
Last Updated : November 03, 2011 10:28
MUMBAI (Commodity Online): MCX Copper is down by 0.75% on Thursday morning trade as a negative industrial growth in China and lower US GDP growth forecast by the US fed put downside pressure on prices.
MCX copper November is currently trading at Rs 385.75 after opening at Rs 388.00 while COMEX copper December is trading down by 3 cents at $3.54
-Chinese industries grew at a slower pace in October. The non manufacturing index fell to 57.7 in October from 59.3 in September while the manufacturing index slumped to 50.4 in October from 51.2 in September. Decreasing industrial activity is seen as negative for Copper prices as the metal demand is driven mainly by robust Chinese consumption.
The US fed lowered their expectations of GDP growth for the next 2 years. US GDP is now estimated to grow at 2.5%-2.9% in 2012, down from the 3.3%-3.7% forecasted earlier.
Technical Target by Angel Commodities for November 3
Support seen at Rs 379 and Rs 384 while Resistance expected at Rs 393.70 and Rs 398.70
Negative momentum seen in mentha oil on poor demand
Last Updated : November 03, 2011 10:20
MUMBAI (Commodity Online):After shooting up over last few days, profit booking was noted for Mentha Oil at the higher levels. Traders waited for dips before initiating fresh demand in the mandis. Increasing arrival pressure was also noted in the mandis.
Even though overall sentiments are expected to remain firm in the next few months from expected rise in export and domestic demand, short term trend is expected to remain volatile.
Rise in demand in the mandis on the domestic and the export front from European countries and China continued to support the rates.
Medium term Fundamentals remained moderately firm for the commodity as good pharmaceutical Industry demand and further rise in export demand are expected but short term trend likely to remain volatile.
Some export queries from China and European countries reportedly supporting the market rates.
Reports of a fall in production had been keeping the sentiments firm.
Lower arrivals and rising export demand and domestic demand from the Pharmaceutical Industries have been there.
Expected rise in export and domestic demand from pharmaceutical Industries are likely to provide support to prices in the medium term. Exports to China reportedly on the rise.
Courtesy: Religare Commodities
Pepper may trade down on profit booking
Last Updated : November 03, 2011 10:11
MUMBAI( Commodity Online): Moderate profit booking was observed for Pepper as other Spices fell. No strong reports emerged from the markets however.
Traders expect fall in rates over last few days have been significant and an expected rise in exports in coming weeks could support the price further.
Slight improved production prospects from Kerala and Karnataka and arrival of the new crop could limit the uptrend. Overall Fundamentals remained firm however from lower stocks and lower production amidst expected rise in export demand n coming weeks.
Exports and domestic demand from North India remained good. Traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain Bullish for the commodity from a medium to long term point of view.
Strengthening in the Dollar vs Re rates could have beneficial impact on the export front. But short term correction possibilities remain.
Traders expect that good demand and a firm trend in Vietnam could support the rates further. Good demand from Gulf countries sup-porting the rates. Demand from China and West Asia also reported.
IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carryforward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT. Indian production expected to decline to 48,000 MT.
Vietnam is having low stocks as per reports. The production there too is expected to fall this year as per some estimates. Brazil and Indonesian crop expected to be lower. Low carryover stock in Brazil and Indonesia is likely to raise exports here in coming months.
Reports of farmers shifting to other more profitable crops have affected the production aspects for the crop in India.
Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.
Courtesy: Religare Commodities
Barclays: US nat gas drops 3 cents to $3.75 MMBtu
Last Updated : November 03, 2011 11:18
LONDON (Commodity Online): The Natural Gas market sold off on the day as the weather outlook shifted to the warmer side. The prompt contract lost three cents, to $3.75/MMBtu, while Calendar 2012 finished at $4.00 flat, down by four cents.
Calendar 2013 took a harder hit and dropped five cents, to $4.56. Incidentally, the January 2013 contract closed at the lowest price level in that contract's history, further emphasizing the strong bearish sentiment in the market.
The weather outlook in the 6-10 day period shows a colder-than-normal West balanced by a warmer-than-normal East.
But with the key consuming regions centered around the Northeast, an incremental fall in expected HDDs in that region indicates that overall heating demand for the period can soften.
The market consensus for Thursday's EIA weekly storage report is an injection of 69 Bcf, similar to the actual number for the same time last year.
Cash prices were mostly lower on the day. Henry Hub cash slipped 10 cents, to $3.39. SoCalBorder moved four cents lower, to $3.56, as the persistent coldness in the West moderated on the day, while New York (Transco-Z6) dropped 6 cents, to $3.60.
Turmeric likely to decline on higher arrivals
Last Updated : November 03, 2011 10:11
MUMBAI (Commodity Online): Turmeric rates fell in the Spot and the futures markets as lower demand amidst moderate arrivals kept pressurizing the market sentiments. Prospects of demand rising in coming weeks could limit the downtrend however.
Traders expect the trend to remain volatile in the short term as improved production prospects and higher stocks could keep the prices under check to some extent.
Rains in growing areas in Andhra Pradesh and other nearby states have been pressurizing prices in apprehension of better crop prospects. Improved arrivals in AP have kept further pressure on the prices.
Good Monsoon reports in AP has reportedly keeping the sowing activities proper. The area sown would however depend on market rates and if falling trend continues, traders expect the sowing area may fall as farmers may shift to other lucrative crops like cotton, soybean etc.
The total production this year is expected to touch 75-85 lakh bags (1 bag-75kg) - higher than the 65-70 lakh bags in 2010-11. Higher acre-age from the high rates is stated the reason for the rise in expected production as per traders.
Good stocks and increased selling pressure along with weak demand in the mandis have kept trend weak for the commodity over the last few weeks. The sowing period is from June-August and harvesting begins in January.
Exports that had remained low are however expected to rise in coming weeks from Europe, US, West Asia and Japan.
Latest reports from Spice Board of India indicates the expected Turmeric exports for the period April-August 2011 have risen by 52% to 36,500 MT in 2011 from 24,000 MT in 2010 same period.
Courtesy: Religare Commodities
Guar seed to edge higher on low production estimates
Last Updated : November 03, 2011 10:20
MUMBAI (Commodity Online):Rates shot up for Guar yet again on rising demand, low production and stock prospects. Increased arrivals limited uptrend to some extent.
New crop arrivals start fro Haryana. Rajasthan arrivals yet to pick up.
As per First Advanced Estimates of Kharif Crop in Rajasthan, the sowing area is 29.07 lakh hectares compared to 30 lakh ha last year. Production expected at 11.37 lakh tonnes vs 15.46 lakh tonnes in 2010-11(Directorate of Agriculture, Rajasthan).
Traders estimate that in Haryana too the sowing area has fallen to 2.15 lakh ha vs 2.56 lakh ha last year. Production expected at 2 lakh tonnes while in Gujarat, production estimates at 0.65 lakh tonnes.
Better rains in Rajasthan and Gujarat are however expected to improve productivity of the crops this year.
As per APEDA, India has exported 1.45 lakh MT Guar Gum during April-June 2011 vs 0.71 lakh MT during same period last year. Traders expect overall exports to pick up in coming months and cross the 3 lakh tonne mark.
Financial problems in US and EU are worrisome howev-er on export front. It needs to be noted that rates have come down significantly over last 1 month due to lower export demand
Fresh arrivals of the new crop could pressurize the market sentiments to some extent in the short term. However, if exports pick up again, we could see some recovery from these lower levels.
Lower carryover stock and delayed harvesting along with reports of a fall in production and a likely pickup in exports could support the prices. A strong Dollar vs Re could have a beneficial impact on the export front.
Firm Crude Oil prices could have positive impact on the Guar gum export front.
Courtesy: Religare Commodities
Volatile trend to witness in India chana
Last Updated : November 03, 2011 10:17
MUMBAI (Commodity Online):Absence of fresh Fundamental factors kept trend sideways for Chana.
Profit booking at higher levels prevented major uptrend for this commodity as overall trend remained slight firm in the Spot markets. Raising MSP of Rabi crop supported market sentiments.
MSP of Gram was raised by 33% to Rs 2800/Q from Rs 2100/Q. This is likely to support Chana rates in medium term.
Traders feel that rates have moved up significantly over last few months —and even though Festive demand continues, some selling pressure cannot be ruled out before demand picks up again at the lower levels.
1st Advance Govt estimates of a fall in Pulses production to 6.43 million tonnes vs last estimates of 7.12 million tonnes could support the short to medium term rates for Chana.
The other major producers for Pulses namely Myanmar, Australia and Canada are likely to report a fall in Pulses production due to adverse weather conditions in those countries. The Indian imports are likely to get costlier in coming months which could support the Chana rates.
Shifting to other more lucrative crops like Cotton and soyabean have resulted in lower acreage for chana.
Courtesy: Religare Commodities
Wednesday, November 2, 2011
DBS Profit Rise Tops Expectations
SINGAPORE—DBS Group Holdings Ltd. posted a better-than-expected 6% rise in third-quarter net profit Wednesday as trade finance continued to drive the bank's loan growth.
DBS Chief Executive Piyush Gupta said that while global macroeconomic headwinds are strengthening, the bank, Southeast Asia's largest by assets, remains well-equipped to handle a slowdown in regional growth.
"We think Asia will slow and will be at least a couple of percentage points off [its average growth], but Asia will not have a precipitated bloodbath," Mr. Gupta said at a briefing. "Therefore we think that in a slow Asia with growth rates of 6% to ...
SINGAPORE—DBS Group Holdings Ltd. posted a better-than-expected 6% rise in third-quarter net profit Wednesday as trade finance continued to drive the bank's loan growth.
DBS Chief Executive Piyush Gupta said that while global macroeconomic headwinds are strengthening, the bank, Southeast Asia's largest by assets, remains well-equipped to handle a slowdown in regional growth.
"We think Asia will slow and will be at least a couple of percentage points off [its average growth], but Asia will not have a precipitated bloodbath," Mr. Gupta said at a briefing. "Therefore we think that in a slow Asia with growth rates of 6% to ...
Asia Markets Skid on Greece
SINGAPORE—Most Asian stock markets dropped Wednesday, as Greece's plan to hold a referendum on its newly crafted bailout package rattled investors, sending the Tokyo market to a three-week low and denting oil prices.
"Global market sentiment has performed a 180-degree turn in recent days," said Tim Waterer, senior foreign exchange dealer with CMC Markets in Sydney. "News of a proposed Greek referendum on whether or not to accept the bailout package has completely come from left field and has traders flabbergasted."
Several markets managed to recoup morning losses as traders awaited the outcome of the U.S. Federal Reserve's rate-setting meeting later in the global day. News that embattled Greek Premier George Papandreou's plan for a referendum on the country's latest bailout package had been unanimously passed by the Greek Cabinet earlier in the global day also helped prop markets. The referendum is likely to take place before Christmas, slightly earlier than previously expected.
Still, investors were keeping their distance from riskier assets amid the fresh euro-zone jitters.
"Markets are seriously pondering a disorderly default in Greece...Risk assets remain a sell on rallies against the background of prolonged European uncertainty," said Crédit Agricole strategist Mitul Kotecha.
Japan's Nikkei Stock Average was down 1.8% after earlier hitting a three-week low, while Australia's S&P/ASX 200, after briefly falling as much as 2% to a one-week low, was down 0.8%. South Korea's Kospi Composite and Hong Kong's Hang Seng Index were both down 0.9%, China's Shanghai Composite Index was off 1% and India's Sensex was flat.
Dow Jones Industrial Average futures were up 20 points in electronic trading.
Growth-sensitive stocks were down across the region, with heavy selling taking a toll on oil, resources and financial shares, as investors worried that the European debt crisis could tip the global economy into a double-dip recession. Most stocks were, however, up from their morning lows.
In Sydney, Rio Tinto was down 0.9% and Westpac Bank was off 0.8% while in Tokyo, Toyota Motor was 3.1% lower, Sumitomo Metal Mining 3.3% lower and Inpex 0.8% lower. In Shanghai, Jiangxi Copper was down 3.1% and Citic Securities was off 1.6%, and in Hong Kong, PetroChina was 1.7% lower, Bank of China 2.2% lower and Citic Resources 3.7% lower.
Earnings reports also continued to buffet trading in the region. Australia's OneSteel tumbled 14% after saying its first-half profit could be down 70% due to weak iron-ore prices and a strong Australian dollar.
The euro remained hostage to headlines out of Europe, but the Greek cabinet's approval of the referendum plan appeared to help the currency as well as the Australian dollar recoup earlier losses. Still, traders cautioned of risks to the downside.
"That everything would bounce on the Greek cabinet decision shows us just how much this is a lose-lose situation. Any near-term stability, especially with worrisome ramifications, shouldn't be a sign to buy," said Michael Turner, a strategist at RBC Capital Markets.
The single currency was fetching $1.3716 after earlier sliding to $1.3658, from $1.3700 late Tuesday in New York, and ¥107.17, from ¥107.40. The dollar was at ¥78.12, compared with ¥78.38.
Gold, a traditional safe haven, also briefly lost ground amid expectations investors may be forced to sell down the yellow metal to meet margin calls elsewhere. Spot gold was recently at $1,723.40 per troy ounce, up $3.50 from its New York settlement Tuesday.
December Nymex crude oil futures were down 76 cents at $91.43 per barrel on Globex.
Write to Shri Navaratnam at shri.navaratnam@dowjones.com
Westpac Profit Up 10%
SYDNEY—Westpac Banking Corp. said Wednesday its full year net profit rose 10% helped in part by a decline in impairment charges, while the company signaled it will continue to be vigilant about costs in what it expects to be a subdued environment for credit growth.
Although the bank moved quickly to pass on a 0.25 percentage point rate cut to mortgage holders after the central bank cut rates on Tuesday, Chief Financial Officer Philip Coffey said ...
SYDNEY—Westpac Banking Corp. said Wednesday its full year net profit rose 10% helped in part by a decline in impairment charges, while the company signaled it will continue to be vigilant about costs in what it expects to be a subdued environment for credit growth.
Although the bank moved quickly to pass on a 0.25 percentage point rate cut to mortgage holders after the central bank cut rates on Tuesday, Chief Financial Officer Philip Coffey said ...
Friday, October 28, 2011
A Beginner's Guide to Day Trading Online (2nd edition)
Day trading is highly profitable--and highly tumultuous. Moreover, the financial markets have changed considerably in recent years. Expert author Toni Turner gives you the latest information on mastering the markets, including: - Decimalization of stock prices
- New trading products such as E-minis and Exchange Traded Funds (ETFs)
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Price: $16.95
12 Simple Technical Indicators That Really Work [DVD] with Mark Larson technical analysis
![12 Simple Technical Indicators That Really Work [DVD] with Mark Larson technical analysis](/51W12WJZ95LSL500.jpg)
Synopsis:Discover how the right technical indicators will help you get in and out of the markets - with profits in tow. Join market educator Mark Larson, author of Technical Charting for Profits, as he shares his 12 favorite indicators and details how he picked them, how he tested them, and how they work together to give traders the kind of success he's enjoyed for nearly a decade. Learn why certain indicators work during certain markets, 2 indicators with a 90% accuracy record, choosing the most effective moving averages, and more. With Mark's thorough new workshop, and online support manual, you'll soon see why "Your profits are within your chart."
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Sudden Money- How to manage it?
Like this story, share it with millions of investors on M3
0 
Sudden Money ? Are you prepared for it?
?When they hear that you?ve come into money, your friends and family future-spend in a nano-second,? Go yell in your pillow. Keep a low profile.?
Susan Bradley, Author ??Sudden Money ? Managing a Windfall?
Many of us in India are going through unprecedented transition in life involving money. Let us make that as ?Sudden Money?.
Sudden Money could cut both ways. Pleasant as well as unpleasant feelings. A property sale, sale of a large chunk of your company?s stock options at 40, inheritance, etc. bring in mostly pleasant feelings. On the other hand, loss of spouse, divorce, inheritance traced to ill-gotten wealth by ancestors or parents are some of the feelings that largely evoke a strong sense of unpleasant feelings or sometimes shame. Some of us could relate to any of these at some point of time in your life.
Whatever the feelings, like the quote says, you will have many of them swarming over you to grab a share of it. Sounds familiar. Isn?t it??
So, What is this ?Sudden Money?? And how does one manage this
?Transition? that is fraught with so many opportunities yet uncertainties and challenges.
Susan Bradley, a veteran certified financial planner who authored the book ?Sudden Money: Managing a Financial Windfall? and founder of the Sudden Money Institute, defines ?Sudden Money as an amount of money that is much larger than you are accustomed to dealing with? .
To manage the transition she advocates clients first to take things slow. It?s what she calls a ?decision-free zone? ? a sort of financial and emotional timeout to think about what you want, what you need, and where you want to be in the future. A decision free zone is a pro-active time out from making any non-essential decisions. The idea is to isolate the few decisions that are time sensitive and most pressing.
How many times have we not heard of stories about when a spouse dies, the wife [many of them are home makers with negligible or minimal income] does not have a clue or access to how much assets /debt she has been left with by her spouse. By the time she picks up the pieces of her life and manages to find out her net worth/inheritance and what to do with it, she is so emotionally and physically drained out, she has either given up or lost it all.
This situation could be easily avoided by the spouse if he is pro-active and does the following:
1. Creation of Will [while he is alive], plan for distribution of wealth ?whom, what, how much, phases of distribution etc.
2. Executor of the Will or Trustee
3. Store the documents related to financials safely and update regularly.
4. Inform, discuss and educates his wife on the details of net worth and where to find it when he is not around.
5. Inculcate money management skills to his children at a very early age or take the help of professionals to do it. It is very important that children at a very early age learn the value of money and attitudes around it so that they put money to use productively for themselves, society and pass on wealth to many generations.
This takes away the unpleasant aspects of life your family has to deal with in terms of their sudden change in their life and ?status?. Don?t you think this approach will ease the pain for your family and help to be prepared for uncertainties in life? Think about it.
During the decision free zone [which could be anywhere from 6 months to 1 year] focus on what you want to do with the money. It is important at this stage to draw your financial goals in your life, keep re-visiting it till you are clear about what you want to do in life and so on.. You can then implement those final goals by investing wisely. Till such time, the money can lie in safer instruments like a Bank Deposit.
Another aspect of ?Sudden Wealth? is to address the tendency to spend on that big ticket item which one has always been aspiring for. Go ahead and splurge, but do not overspend to regret it later. Lottery Winners and Entertainers are prone to this behavior.
Last but not the least; keep in mind the taxes that you might have to pay for receiving the ?Windfall? money. It helps to shop and consult the professionals in the tax, legal and financial arenas who put your interests first and assist you to help preserve and grow your wealth.
As Susan Bradley says, ?Don?t expect miracles. Money doesn?t solve all your problems, but it can make your life easier. Be careful not to get sucked into the fantasy that now you?re going to live happily ever after. ?It?s just another layer of life,? Ms. Bradley says. ?It doesn?t make you more lovable, beautiful, and smarter. It just gives you more options.?
Partha Iyengar
The author is the Founder and CEO, Accretus Solutions India LLP.
View the original article here
0 Sudden Money ? Are you prepared for it?
?When they hear that you?ve come into money, your friends and family future-spend in a nano-second,? Go yell in your pillow. Keep a low profile.?
Susan Bradley, Author ??Sudden Money ? Managing a Windfall?
Many of us in India are going through unprecedented transition in life involving money. Let us make that as ?Sudden Money?.
Sudden Money could cut both ways. Pleasant as well as unpleasant feelings. A property sale, sale of a large chunk of your company?s stock options at 40, inheritance, etc. bring in mostly pleasant feelings. On the other hand, loss of spouse, divorce, inheritance traced to ill-gotten wealth by ancestors or parents are some of the feelings that largely evoke a strong sense of unpleasant feelings or sometimes shame. Some of us could relate to any of these at some point of time in your life.
Whatever the feelings, like the quote says, you will have many of them swarming over you to grab a share of it. Sounds familiar. Isn?t it??
So, What is this ?Sudden Money?? And how does one manage this
?Transition? that is fraught with so many opportunities yet uncertainties and challenges.
Susan Bradley, a veteran certified financial planner who authored the book ?Sudden Money: Managing a Financial Windfall? and founder of the Sudden Money Institute, defines ?Sudden Money as an amount of money that is much larger than you are accustomed to dealing with? .
To manage the transition she advocates clients first to take things slow. It?s what she calls a ?decision-free zone? ? a sort of financial and emotional timeout to think about what you want, what you need, and where you want to be in the future. A decision free zone is a pro-active time out from making any non-essential decisions. The idea is to isolate the few decisions that are time sensitive and most pressing.
How many times have we not heard of stories about when a spouse dies, the wife [many of them are home makers with negligible or minimal income] does not have a clue or access to how much assets /debt she has been left with by her spouse. By the time she picks up the pieces of her life and manages to find out her net worth/inheritance and what to do with it, she is so emotionally and physically drained out, she has either given up or lost it all.This situation could be easily avoided by the spouse if he is pro-active and does the following:
1. Creation of Will [while he is alive], plan for distribution of wealth ?whom, what, how much, phases of distribution etc.
2. Executor of the Will or Trustee
3. Store the documents related to financials safely and update regularly.
4. Inform, discuss and educates his wife on the details of net worth and where to find it when he is not around.
5. Inculcate money management skills to his children at a very early age or take the help of professionals to do it. It is very important that children at a very early age learn the value of money and attitudes around it so that they put money to use productively for themselves, society and pass on wealth to many generations.
This takes away the unpleasant aspects of life your family has to deal with in terms of their sudden change in their life and ?status?. Don?t you think this approach will ease the pain for your family and help to be prepared for uncertainties in life? Think about it.
During the decision free zone [which could be anywhere from 6 months to 1 year] focus on what you want to do with the money. It is important at this stage to draw your financial goals in your life, keep re-visiting it till you are clear about what you want to do in life and so on.. You can then implement those final goals by investing wisely. Till such time, the money can lie in safer instruments like a Bank Deposit.
Another aspect of ?Sudden Wealth? is to address the tendency to spend on that big ticket item which one has always been aspiring for. Go ahead and splurge, but do not overspend to regret it later. Lottery Winners and Entertainers are prone to this behavior.
Last but not the least; keep in mind the taxes that you might have to pay for receiving the ?Windfall? money. It helps to shop and consult the professionals in the tax, legal and financial arenas who put your interests first and assist you to help preserve and grow your wealth.
As Susan Bradley says, ?Don?t expect miracles. Money doesn?t solve all your problems, but it can make your life easier. Be careful not to get sucked into the fantasy that now you?re going to live happily ever after. ?It?s just another layer of life,? Ms. Bradley says. ?It doesn?t make you more lovable, beautiful, and smarter. It just gives you more options.?
Partha Iyengar
The author is the Founder and CEO, Accretus Solutions India LLP.
View the original article here
MCX crude oil weakens resistance at Rs: 4635 4675: Angel
On account of upbeat global market sentiments and expectations of an improvement in the global economic scenario we expect crude oil prices to trade on a positive note.
Apart from that, dollar weakness will also provide support by making the dollar-denominated commodity look attractive for holders of other currencies.
MCX Crude Nov’11 Rs/bbl support:4533.0/4471.0 resistance: 4635-4675
Courtesy: Karvy Commtrade Ltd.
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
Apart from that, dollar weakness will also provide support by making the dollar-denominated commodity look attractive for holders of other currencies.
MCX Crude Nov’11 Rs/bbl support:4533.0/4471.0 resistance: 4635-4675
Courtesy: Karvy Commtrade Ltd.
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
MCX copper tumbles resistance at Rs.407.90 413.90: Angel
We expect base metals to trade on a positive note today as upbeat global market sentiments coupled with dollar weakness will support upside in prices.
MCX Copper Nov’11 Rs /kg support:396.80/390.80 resistance:407.90/413.90
MCX Zinc Oct’11 Rs /kg support:93.70/92.70 resistance:95.25/96.20
MCX Lead Oct’11 Rs /kg support:97.80/96.50 resistance:100.25/101.50
MCX Aluminum Oct’11 Rs /kg support:108.70/107.50 resistance:111.10/112.40
MCX Nickel Oct’11 Rs /kg support:962.50/950.20 resistance:985.70/996.60
Courtesy: Angel Commodities
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
MCX Copper Nov’11 Rs /kg support:396.80/390.80 resistance:407.90/413.90
MCX Zinc Oct’11 Rs /kg support:93.70/92.70 resistance:95.25/96.20
MCX Lead Oct’11 Rs /kg support:97.80/96.50 resistance:100.25/101.50
MCX Aluminum Oct’11 Rs /kg support:108.70/107.50 resistance:111.10/112.40
MCX Nickel Oct’11 Rs /kg support:962.50/950.20 resistance:985.70/996.60
Courtesy: Angel Commodities
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
MCX gold edges higher support at Rs.27650 27420: Angel
We expect gold and silver to trade on a positive note today on account of dollar weakness.
Gains in gold are also expected to be driven on the back of inflationary expectations, thus supporting the safe-haven asset even in times of risk appetite.
MCX Gold Dec’11 Rs/10 gms support:27650/27420 resistance:28075/28305
MCX Silver Dec'11 Rs/kg support:56866/55744 resistance:58980/60100
Courtesy: Karvy Commtrade Ltd.
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
Gains in gold are also expected to be driven on the back of inflationary expectations, thus supporting the safe-haven asset even in times of risk appetite.
MCX Gold Dec’11 Rs/10 gms support:27650/27420 resistance:28075/28305
MCX Silver Dec'11 Rs/kg support:56866/55744 resistance:58980/60100
Courtesy: Karvy Commtrade Ltd.
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
Crude oil to slump on weak Japanese industrial output gold may pickup
Although risk appetite re-emerged on prospects of improvement in the European economic scenario, markets continue to remain volatile as long-term risks associated with the implementation of the latest rescue plan remain.
Also, markets still need to assess the long-term impact of the same as announcements of measures will only help ease short-term concerns but may not necessarily translate into a permanent solution from a longer term perspective.
Spot Gold prices came under pressure today and slipped around 0.3 percent till 4.45pm IST, taking cues from mixed market sentiments over the European crisis. Markets had embraced with positivity the plan announced by the policymakers; but this plan now comes with a baggage of questions that yet need to be answered. Gold also came under pressure on account of profit-booking at higher levels.
Inflationary expectations had supported gold prices yesterday and the yellow metal also took cues from movement in the US Dollar Index (DX) that has slipped sharply during this week.
Spot Silver prices on the other hand remained largely stable today and remained less affected from the mixed sentiments in the global financial markets. Prices in the international markets are currently trading around $35.3/oz.
Copper prices came under pressure today despite hopes of improvement in the European economic scenario as demand concerns emerged. Latest data by the International Copper Study Group (ICSG) indicated that in the first seven months of this year, copper demand in China declined 5 percent. Moreover, further demand slowdown can be expected as economic growth in China is expected to slow. This factor led to downside pressure on prices today and the red metal also saw profit-booking at higher levels. In the past few days, copper prices
have increased sharply and bounced back above the crucial $8000/tonne mark.
Nymex crude oil prices declined by 0.6 percent and is trading around $93/bbl till 4:45pm IST, taking cues from fall in Japanese industrial output that declined 4 percent in September as compared to a rise of 0.6 percent a month ago. On the MCX, oil prices declined by 1.8 percent and hovering around Rs.4527/bbl till 4:45pm today.
Outlook
As we approach the weekend, global financial markets are expected to witness mixed trade, as on one hand bulls take charge from positive European cues and on the other hand concerns over long-term economic risks still remain. On the back of this, we expect gold prices to trade higher as building inflationary pressures coupled with mixed views over the macroeconomic scenario will support upside in the yellow metal.
Silver is expected to trade on a rangebound note, taking mixed cues from upside in gold and fall in base metal prices.
Copper is expected to witness downside pressure and prices may not be able to sustain around levels of $8000/tonne in the international markets on account of expectations of slowdown in Chinese demand.
Slowdown in Japanese industrial output coupled with mixed sentiments ahead of the weekend trade is expected to lead to downside pressure on crude oil prices today.
Courtesy: Angel Commodities
Curfew lifted from Rudrapur town
Published on Fri, Oct 28, 2011 at 18:10 | Source : PTIUpdated at Fri, Oct 28, 2011 at 18:10 Like this story, share it with millions of investors on M30 Dehra Dun, Oct 28 (PTI) Curfew has been fully lifted from the industrial town of Rudrapur in Kumaon region, where four people were killed and scores of others injured in communal riots over an alleged act of sacrilege earlier this month, an official said. As the festival of Diwali passed off peacefully, the administration decided to lift night curfew as well from last night, Udhamsingh Nagar District Magistrate P S Jangpangi said. The administration was giving relaxation in day curfew since October 5 but night curfew was being continued keeping in view the tense situation in the town, he said. However, prohibitory orders under Section 144 CrPC would remain in force for some more days, the DM added. function postquote(keysearch) { len = keysearch.companyname.value.length; if(len 10) { tempvar=companyname; flag1="true"; break; } else { j=i+1; result= companyname.charAt(i); preval=companyname.charAt(j); if(result==" " || preval==" " || result=="." || preval=="." || len=0; i--) revstr+=str.charAt(i) return revstr; } function sector_newsletter(){ var email = document.getElementById("email_newsletter").value; emailRe = /^\w+([\.-]?\w+)*@\w+([\.-]?\w+)*\.(\w{2}|(com|net|org|edu|int|mil|gov|arpa|biz|aero|name|coop|info|pro|museum))$/ if(email=='' || email=='Enter email address') { alert("Enter Email address."); document.getElementById('email_newsletter').focus(); return false; }else if(!emailRe.test(email)) { alert("Enter Valid Email"); document.getElementById('email_newsletter').focus(); return false; }else{ var emailstr = toHex(email); var str = strrev(emailstr); document.nlfrm.action ='/sector-newsletters/index.php?email='+str; return true; } } function tabs_news_rhs(a) { if(a==1) { document.getElementById("news_mp").style.display="block"; document.getElementById("news_ep").style.display="none"; document.getElementById("rhs_tab_1").className = "act"; document.getElementById("rhs_tab_2").className = ""; } else { document.getElementById("news_mp").style.display="none"; document.getElementById("news_ep").style.display="block"; document.getElementById("rhs_tab_1").className = ""; document.getElementById("rhs_tab_2").className = "act"; } } 
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0 Dehra Dun, Oct 28 (PTI) Curfew has been fully lifted from the industrial town of Rudrapur in Kumaon region, where four people were killed and scores of others injured in communal riots over an alleged act of sacrilege earlier this month, an official said. As the festival of Diwali passed off peacefully, the administration decided to lift night curfew as well from last night, Udhamsingh Nagar District Magistrate P S Jangpangi said. The administration was giving relaxation in day curfew since October 5 but night curfew was being continued keeping in view the tense situation in the town, he said. However, prohibitory orders under Section 144 CrPC would remain in force for some more days, the DM added. function postquote(keysearch) { len = keysearch.companyname.value.length; if(len 10) { tempvar=companyname; flag1="true"; break; } else { j=i+1; result= companyname.charAt(i); preval=companyname.charAt(j); if(result==" " || preval==" " || result=="." || preval=="." || len=0; i--) revstr+=str.charAt(i) return revstr; } function sector_newsletter(){ var email = document.getElementById("email_newsletter").value; emailRe = /^\w+([\.-]?\w+)*@\w+([\.-]?\w+)*\.(\w{2}|(com|net|org|edu|int|mil|gov|arpa|biz|aero|name|coop|info|pro|museum))$/ if(email=='' || email=='Enter email address') { alert("Enter Email address."); document.getElementById('email_newsletter').focus(); return false; }else if(!emailRe.test(email)) { alert("Enter Valid Email"); document.getElementById('email_newsletter').focus(); return false; }else{ var emailstr = toHex(email); var str = strrev(emailstr); document.nlfrm.action ='/sector-newsletters/index.php?email='+str; return true; } } function tabs_news_rhs(a) { if(a==1) { document.getElementById("news_mp").style.display="block"; document.getElementById("news_ep").style.display="none"; document.getElementById("rhs_tab_1").className = "act"; document.getElementById("rhs_tab_2").className = ""; } else { document.getElementById("news_mp").style.display="none"; document.getElementById("news_ep").style.display="block"; document.getElementById("rhs_tab_1").className = ""; document.getElementById("rhs_tab_2").className = "act"; } } Vayalar Ravi Says No Decision On Air India Equity Infusion, Aircraft Buy
The latest earning numbers FIRST on CNBC-TV18Subscribe toMoneycontrol NewslettersNCDEX chana drops 1.09% on profit taking
Last Updated : October 28, 2011 16:04
MUMBAI (Commodity Online): Chana futures declined Friday on profit booking by the traders though firm demand in the local markets during the festive seasons limited the downtrend.
At NCDEX chana November contract is trading at Rs.3437 per quintal, a decline of 1.09 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.3373-3484 per quintal. Open interest of the contract is 127440 lots and volume traded is 126290 lots for the time being.
Raising MSP of Rabi crop supported market sentiments where an overall bullish sentiment was already prevailing. MSP of Gram was raised by 33% to Rs 2800/Q from Rs 2100/Q.
As per the latest release of the Rajasthan Agriculture department, 228200 hectares has been covered under Chana cultivation as on 18th October 2011. In Maharashtra area sown under Chana cultivation stands around 6100 hectares till 18th October 2011.
MCX cardamom tumbles 2.68% on arrival pressure
Last Updated : October 28, 2011 16:13
MUMBAI (Commodity Online): Cardamom futures traded down on Friday due to rising arrivals from the fresh crop amid subdued demand in the spot markets.
At MCX cardamom November contract is trading at Rs.675.90 per Kg, a decline of 2.86 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.674.90-699.80 per Kg. Open interest of the contract is 3935 lots and volume traded is 2466 lots for the time being.
Spot activity has resumed and rise in arrivals is likely to increase the bearishness in market. According to Spices board of India, total arrivals during the current season till Oct. 1st were up by 122% to 3860 tons against 1735 tons in the same period last year.
Barcalys: US nat gas drops 7 cents to $3.52 MMBtu on EIA storage report
Last Updated : October 28, 2011 10:51
LONDON (Commodity Online): The prompt contract suffered as the EIA weekly storage report churned out a larger-than-consensus injection number. The November contract came off 7 cents to $3.52/MMBtu.
Calendar 2012 and 2013 both lost a meager penny to $4.02 and $4.59, respectively. Early next week could see much colder than normal temperatures spreading across most of the East, Midwest, and Southern states, while the weather outlook for the East in the 6-10 day period has also trended colder on the day.
The EIA weekly storage report showed a net injection of 92 Bcf, 6 Bcf above consensus. The East added 44 Bcf, while the West piled on 7 Bcf. The stock in the Producing Region went up 41 Bcf.
Inventory is now 28 Bcf below last year's level at the same time and 158 Bcf above the 5-year average. Currently at 3.7 Tcf, the storage level is well on its way to finish October around our projected 3.8 Tcf.
Cash prices were mostly mixed on the day. Henry Hub cash lost 6 cents, to $3.59. SoCalBorder dropped 9 cents, to $3.61, while New York (Transco-Z6) rose 2 cent, to $4.01. The new intra-Marcellus Tennessee Zone 4 moved 2 cents down, to $1.09.
NCDEX jeera edges higher on bargain buying
Last Updated : October 28, 2011 15:00
MUMBAI (Commodity Online): Jeera futures rose Friday on bargain buying by the traders on the back of firm demand in the local markets for the ongoing festive seasons.
At NCDEX jeera November contract is trading at Rs.14700 per quintal, higher by 1.52 per cent on 14:55 IST against the previous close.
In the early session the contract traded at a range of Rs.14419-14846 per quintal. Open interest of the contract is 16692 lots and volume traded is 4044 lots for the time being.
No new Fundamental reports were there as Unjha mandi remained closed for Festival this week, Jeera traded with high volatility.
Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.
NCDEX guraseed down on dull overseas demand
Last Updated : October 28, 2011 12:40MUMBAI (Commodity Online): NCDEX guarseed for November delivery traded down 0.02% touching Rs 4380 due to reports of consumers switching to other cheaper sources of gum and also due to dull overseas demand.
According to Angel Commodities reports, low overseas demand and reports of consumers switching to other cheaper sources of gum for crude extraction due to high prices, the commodity is trading down.
With the new arrival in the market from the end of October, Guar Seed is expected to gain momentum.
At NCDEX, Guarseed November contract traded down 0.02% touching Rs 4380 in the after noon trade on 28th October.
India jeera may witness mixed trend
Last Updated : October 28, 2011 10:44
MUMBAI (Commodity Online):No new Fundamental reports were there as Unjha mandi remained closed for Festival this week, Jeera traded with high volatility.
There have been some recovery in the market rates and short covering at these levels cannot be ruled out by this week end. Exporters reportedly waiting for the prices to fall before initiating fresh demand in the markets.
Firmness in International market rates from Turkey and Syria could support the Indian rates –as per traders.
Medium term trend looks firm from expected rise in export demand but short term trend is expected to remain volatile. A firmness in Dollar vs Re too could support the export factor.
Reports of adverse weather conditions in other major producers like Turkey and Syria have created apprehensions of lower output there. Syrian production expected at 40000 tonnes and that in Turkey lower at 12-15000 tonnes.
Indian production expected at 28-30 lakh bags translating to more than 1.5 lakh tonnes.
Export demand from US and EU could also rise at these lower levels in coming weeks and that could have a moderate bullish impact on the prices.
Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.
Courtesy: Religare Commodities
Pepper likely to move further higher on active buying
Last Updated : October 28, 2011 10:46MUMBAI(Commodity Online):Pepper rates recovered moderately from the lower levels as low level buying activities were reported in the mandis.
Traders expect fall in rates over last few days have been significant and an expected rise in exports in coming weeks could support the price further.
Slight improved production prospects from Kerala and Karnataka and arrival of the new crop could limit the uptrend.
Overall Fundamentals remained firm however from lower stocks and lower production amidst expected rise in export demand n coming weeks
Exports and domestic demand from North India remained good. Traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain Bullish for the commodity from a medium to long term point of view.
Strengthening in the Dollar vs Re rates could have beneficial impact on the export front. But short term correction possibilities remain.
Traders expect that good demand and a firm trend in Vietnam could support the rates further. Good demand from Gulf countries sup-porting the rates. Demand from China and West Asia also reported.
IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carryforward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT. Indian production expected to decline to 48,000 MT.
Vietnam is having low stocks as per reports. The production there too is expected to fall this year as per some estimates. Brazil and Indonesian crop expected to be lower. Low carryover stock in Brazil and Indonesia is likely to raise exports here in coming months.
Reports of farmers shifting to other more profitable crops have affected the production aspects for the crop in India.
Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.
Courtesy: Religare Commodities
NCDEX November jeera jumps 1.53%
Last Updated : October 28, 2011 15:05MUMBAI (Commodity Online): NCDEX Jeera for November delivery climbed 1.53% due to short covering . The commodity is currently traded at Rs 14701. According to Kotak Commodities, Jeera gained due to short covering in the market .
The Production of Jeera in Gujarat and Rajasthan in 2011 was around 21lakh bags and 7-8 lakh bags respectively.
The Production of Jeera in Gujarat and Rajasthan in 2011 was around 21lakh bags and 7-8 lakh bags respectively.
On NCDEX, The jeera November contract traded up 1.53% or Rs 222 touching Rs 14701 on Friday in after noon hours.
NCDEX wheat plunges 1.73% on production concerns
Last Updated : October 28, 2011 12:17
MUMBAI(Commodity Online): Wheat futures fell Friday on profit booking by the speculators due to rising concerns on higher production in next season.
Spot market activities will continue to remain sluggish as the major physical markets will remain closed during this week due to Diwali festival.
At NCDEX wheat November contract is trading at Rs.1090 per quintal, lower by 1.73% against the previous close.
In the early session the contract traded at a range of Rs.1107-1076 per quintal. Open interest of the contract is 31840 lots and volume traded is 5650 lots for the time being.
Hike in the Minimum Support Prices (MSP) by around 15 per cent to Rs.1285 per quintal might have a positive impact over market sentiments supporting them to trade higher.
India potato futures weaken on profit booking
Last Updated : October 28, 2011 12:44MUMBAI (Commodity Online):India Potato futures that witnessed a rally in the beginning of the week on spot market demand and restricted supplies from producing regions has weakened on Friday morning trade on profit booking at higher levels.
Potato March futures at National Commodity and Derivatives Exchange of India (NCDEX) has fallen 1.59 % on Friday to Rs 626.60 as against previous closing price of Rs 636.30. The contract had climbed 5% this week till Thursday. At Multi-Commodity Exchange of India MCX Potato March futures is down 1.75% at Rs 675.10. The contract gained 4.42% till Thursday this week at Rs 685.40 per quintal.
Analysts said that restricted supplies and speculative activity continues to provide firm support to potato futures.
NCDEX pepper settles lower on subdued demand
Last Updated : October 28, 2011 17:22
MUMBAI (Commodity Online): Pepper futures fell Friday on sluggish demand in the local markets. Slight improved production prospects from Kerala and Karnataka and arrival of the new crop also put pressure on pepper futures.
At NCDEX pepper November contract closed at Rs.34210 per quintal, a decline of 0.86 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.34175-34700 per quintal. Open interest of the contract stood at 9691 lots and volume traded is 2576 lots.
Production of Pepper in India in 2010-11 is projected to be 48 thousand tonnes (according to the Spices Board) as compared to 50 thousand tonnes last year. However, there are expectations that this estimate would be lowered further on account of the disease attacks and erratic rainfall in the major growing areas particularly Kerala and Karnataka.
Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.
India soybean weakens on ample supply
Last Updated : October 28, 2011 15:15
MUMBAI (Commodity Online): Soybean futures fell Friday due to rising supply in the physical markets on the back of fresh arrivals from the producing areas.
Poor demand from the domestic as well as overseas buyers also put pressure on the soybean futures.
At NCDEX soybean November is trading at Rs.2212.50 per 10 MT, a decline of 1.68 per cent on 15:05 IST as against the previous close.
In the early session the contract traded at a range of Rs.2207.50-2259.50 per quintal. Open interest of the contract is 131660 lots and volume traded is 53560 lots for the time being.
As per USDA’s weekly export inspections came in at 41.15 million bushels which was in line with trade expectations and compares with an average of 27.8 million necessary each week to reach the USDA projection.
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