Commodity report by ways2capital 02 sep 2014

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NCDEX DAILY LEVELS
DALLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19-SEPT-14 640 633 626 623 619 616 612 605 598
SYBEANIDR 20-OCT-14 3533 3470 3407 3385 3344 3320 3280 3220 3155
RMSEED 19-SEPT-14 3790 3708 3625 3595 3542 3510 3460 3375 3293
JEERAUNJHA 19-SEPT-14 11505 11395 11285 11240 11175 11130 11065 10955 10845
DHANIYA 19-SEPT-14 12296 12156 12016 11948 11876 11808 11736 11596 11456
CASTORSEED 19-SEPT-14 4423 4345 4265 4225 4185 4145 4105 4023 3943
NCDEX WEEKLY LEVELS
WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19-SEPT-14 680 659 638 629 617 608 596 575 554
SYBEANIDR 20-OCT-14 3620 3530 3440 3401 3353 3312 3264 3175 3086
RMSEED 19-SEPT-14 3867 3659 3650 3610 3540 3500 3435 3327 3210
JEERAUNJHA 19-SEPT-14 11858 11618 11378 11286 11138 11046 10898 10658 10418
DHANIYA 19-SEPT-14 12918 12568 12218 12049 11868 11699 11518 11168 10818
CASTORSEED 19-SEPT-14 4495 4398 4281 4235 4175 4128 4067 3960 3853
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MCX DAILY LEVELS
DALLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 30-SEPT-14 132.65 130.75 128.85 128.15 126.95 126.30 125.05 123.20 121.25
COPPER 28-NOV-14 442 434 426 421 419 414 411 403 395
CRUDE OIL 19-SEPT-14 6003 5914 5825 5795 5736 5706 5647 5558 5469
GOLD 03-OCT-14 29085 28732 28375 28225 28025 27870 27670 27316 26962
LEAD 30-SEPT-14 139.75 138.60 137.50 136.90 136.30 135.70 135.10 133.95 132.90
.
NATURAL GAS 25-SEPT-14 264 258 251 248 245 241 238 232 225
NICKEL 30-SEPT-14 1165 1152 1141 1135 1130 1124 1119 1108 1091
MCX WEEKLY LEVELS
WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 30-SEPT-14 137.35 133.65 130.05 128.75 126.40 125.10 122.75 119.10 115.50
COPPER 28-NOV-14 467 452 436 426 421 411 406 390 374
CRUDE OIL 19-SEPT-14 6035 5934 5833 5799 5732 5697 5631 5530 5429
GOLD 03-OCT-14 29375 28915 28450 28260 27985 27795 27525 27060 26595
LEAD 30-SEPT-14 143 140 138 137 136 135 133 131 129
NATURAL GAS 25-SEPT-14 291 274 258 251 241 234 225 208 192
NICKEL 30-SEPT-14 1192 1172 1154 1141 1132 1121 1112 1092 1072
SILVER 5-SEPT-14 45765 44636 43507 42956 42378 41827 41249 40120 38991
ZINC 30-SEPT-14 148 146 144 143 142 141 140 138 136

MCX - WEEKLY NEWS LETTERS
✍ INTERNATIONAL NEWS
LME Copper stocks jumped by 0.8 percent on Tuesday.
Total inflow in Indian equities and debt markets $29.79 bn till date.
U.S. crude stocks declined by 2.1 million barrels last week.
German Import Prices dropped by 0.4 percent in the last month.
Economic data - Germany Unemployment rate, CPI; Euro-zone- Confidence Numbers
(Economic, Industrial, Consumer and Service), US - Jobless claims, Q2 revised GDP, Personal
Consumption and Pending Home Sales.
SOURCES : Reuters
Indian Currency - The US Dollar Index (DX) declined around 0.3 percent yesterday on the
back of upbeat market sentiments which led to decline in demand for the low yielding currency.
Further, estimates of marginal plunge in economic growth in US exerted downside pressure on
the currency.
The Indian Rupee traded on a flat note and appreciated marginally in yesterday’s trading
session. The currency appreciated on the back of inflow of foreign funds in equities and debt
markets. The total inflow in the both the markets accounted to around $29.79 billion till date in
the current year. Upbeat domestic market sentiments also acted as a positive factor.
✍ PRECIOUS METALS
In the month of August, gold prices have already declined by more than 2% and looks like the
trend may remain bearish. Gold holdings at the SPDR gold trust, the world’s largest ETF stay
near the 800 MT, almost flat for past many weeks. In the meanwhile, global equities trade
higher with gains of more than 1% in a single week is further pulling gold prices lower and
likely that the same trend may continue in the next week. Another major factor that is pulling
gold lower is the anticipated cues from Jackson Hole economic symposium which is expected
to focus on an important economic issue that faces the US and world economies. We believe
looking at the recent economic development, especially the economic data coming in better
than expected from the US, it might have incessant negative pressure on gold prices. Besides,
the euro and gold which generally shaped by the USD performance are likely to move along
and any further decline in the euro currency or strong appreciation in the USD would weaken
gold prices. Looking at the above scenario, the commodity may remain depressed in the near
term wherein we suggest selling from higher levels.
Gold once again had a very shallow day of trade with the commodity trading in a small range
for most part of the day before closing 0.15% lower to $1283 per ounce mark for active
December expiry at Comex.

In India, moderate disconnect continued as local MCX gold prices for October expiry closed
lower by 0.4% to Rs 27780 per 10 /Gms. It is likely that Bullion may open marginally positive
today, as they regain some of the additional lost ground yesterday meanwhile Gold Comex too
trades marginally higher in early Asian trade.
✍ BASE METALS
LME Copper prices slipped by 0.5 percent on 27 Aug Trading session, after a report showed
profit growth at industrial companies in China slowed to 13.5 percent in July from 17.9 percent
in June, the fastest rate in seven months. Also, weak German Consumer Climate data coupled
with 0.8 percent gain in inventories exerted downside pressure on prices.
However, expectations of prompt supportive action from Beijing, with officials stepping in to
ensure the economy achieved its 7.5% annual growth target restricted sharp fall. The red metal
touched an intra day low of $6994/tonne on Wednesday.
On the MCX, red metal prices plunged by 0.7 percent and touched an intra day low of
Rs.421.75/kg before closing at Rs.422.9/kg on Wednesday.
✍ ENERGY
Natural gas prices on the NYMEX gained by around 1 percent on bargain buying at lower
levels while MCX futures gained by around 1.09 percent and closed at Rs.241.40/Mmbtu. EIA
Natural gas inventories due tonight is expected to show a surplus of 78Bcf of gas.
Oil prices declined on both sides of the Atlantic as expectations of ample supply weighed on
prices. Global oil supply is expected to exceed demand this year, cooling prices. Oil futures on
both sides of the Atlantic Basin are on track to post a second monthly decline.
Hopes that the presidents of Russia and Ukraine could reach a ceasefire deal dimmed after
Ukraine accused Russia of launching a new military incursion across its eastern border on
Wednesday. U.S. crude stocks fell 2.1 million barrels last week, more than expected, but
Cushing inventories rose 508,000 barrels, data from the Energy Information Administration
showed on Wednesday. On the MCX, crude prices declined by around 0.4 percent in line with
weakness in international markets and closed at Rs.5675/bbl.

NCDEX - WEEKLY NEWS LETTERS
✍ CHANA
Chana continued to trade weak due to lack of demand .The domestic demand has risen in the
mandis but that got adversely affected at the higher levels as traders waited for some dips
before initiating fresh demand in the mandis. amid rains in Central and North-West India
supporting the Kharif Pulses crop prospects kept overall trend weak.
The sowing for Kharif Pulses has picked up over last few weeks and that had been preventing
strong uptrend for Chana rates despite improved demand in mandis. Repeated efforts by the
Govt to keep tab on hoarders—mainly for essential Food items are also keeping the uptrend
limited.
As per latest reports of sowing of kharif crops as on 22nd August, kharif sowing area stood at
935.06 lakh hectare. It is reported that pulses has been sown in 92.62 lakh ha vs 99.39 lakh ha
same time last year.
Higher Pulses production for 2013-14 has been keeping sentiments weak so far. As per 3rd
Advanced crop estimates by Govt of India, India is likely to produce record Foodgrains in
2013-14 at 264.38 MT. Record production in Tur(3.38 MT), Chana (9.93MT) and overall
Pulses at a record 19.57 MT
On International front, Australian Chana production reportedly has fallen by 23%. A fall in
Dollar vs Re has kept the import cost of Pulses from Myanmar, Australia and Canada low
resulting in further weakening of market sentiments.
✍ RM SEED
RM seed mandis could not sustain the highs as buyers were at bay coupled with bearish
spillover effect. However, the supplies are limited and slight demand for meal from exporters
will pull up the markets in the coming weeks. The arrivals remained in the range of 55,000 –
65,000 bags of 85Kg each.
As per Solvent Extractors Association of India (SEA) data bank, the imports of Rape oil are
steadily on the rise and have significantly increased by more than 11 times from 7,943 MT to
103,003 MT. Though oil meal exports dipped for the third consecutive month due to rise in
soybean prices, but the rapeseed meal has increased 53 per cent to 408,410 tonnes from
267,461 tonnes in last four months.
Global production of rapeseed and canola will decline to 68.7 million tons from 69.7 million
tons as. The harvest in Canada, the top export-er, is expected to decrease 20 percent from the
prior year to 14.4 million tons. EU output will reach a record 23.54 million tons from 21.25
million tons a year earlier amid increasing harvests in Germany, France, Poland and the U.K.
Rapeseed prices in EU dropped due to spillover weakness from soybeans.

✍ SOYABEAN / REFI. SOYA
Soy oil prices on Wednesday remained weak on poor buying sentiments in local mandis which
picked up enough downward sup-port from the bearish international market.
Soybean exports from the U.S. are set to accelerate in the next few months as farmers harvest
the biggest crop. U.S. soybean exports will climb to a record 46.3 million metric tons in the
2014-15 marketing season that starts Sept. 1 from 44.65 million tons a year earlier. Global
soybean output will total 306.7 million tons. US soybean crop is likely to be disposed of
quickly in the first four to six months of the new season as Brazil’s stocks are low. Soybean
prices have dropped 21 percent this year as beneficial U.S. growing weather boosted oilseed
and grain development. Oil World estimates U.S. soybean production at 103.85 million tons in
2014-15, in line with USDA forecast and 13 percent bigger than a year earlier.
Soybean mandis did open on a steady note with some buying interest shown by crushers.
However, the prices will remain under pressure as there has been some good sowing progress
coupled with bearish US markets which has hit a four years levels due to record crop outlook
on good weather forecasts.
As per IMD the deficiency rainfall deficiency remained at 18% as on 27th Aug, from south
west monsoon. However, increase in rainfall activity can be seen in during the later part of the
week.
As per Solvent Extractors Association of India the total export of oil meals during April-July
2014 is at 721,577 tons compared to 1,038,819 tons i.e. down by 31%. In July 2014 export of
oil meals stood at 115,094 tons com-pared to 182,133 tons in July 2013 i.e. down by 37%.
Export of soybean meal greatly reduced in last 3 months due to high cost of soybean in local
market lead to total disparity for soybean meal in international market.
Global production of oil seeds including soybeans, rapeseed and sunflower will reach a record
507.2 million metric tons, 18.1 million tons more than the previous all-time high last year as
per Oil world. The stockpiles are likely to remain around 99.6 million tons at the end of 2014-
15, 18 percent more than a year earlier. The most outstanding increase in oil seed production is
set to occur in the U.S.A., where excellent weather conditions are seen resulting in record
yields per hectare not only in soybeans but also corn. A record oil seed crop has also been
grown in the European Union this year.
Soybean production globally may rise to 306.7 million tons, up from 284.6 million tons in the
prior season, with the U.S. crop, the world’s biggest, accounting for 103.85 million tons.

This Document has been prepared by Ways2Capital (A Division of High Brow Market
Research Investment Advisory Pvt Ltd). The information, analysis and estimates contained
herein are based on Ways2Capital Equity/Commodities Research assessment and have been
obtained from sources believed to be reliable. This document is meant for the use of the
intended recipient only. This document, at best, represents Ways2Capital Equity/Commodities
Research opinion and is meant for general information only. Ways2Capital
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expressly disclaims any and all liabilities that may arise from information, errors or omissions
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Commodity report by ways2capital 02 sep 2014

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Commodity report by ways2capital 02 sep 2014