Agri-commodity Preview: Crude palm oil rises, Mentha falls

Crude oil, mentha oil

On account of in demand at domestic spot market, prices of crude palm oil edged up by 0.42% to Rs 528.80 /10 kg in futures trade Friday. At the MCX, crude palm oil for delivery in October month edged higher by 0.42% to Rs 528.80 /10 kg in business turnover of 38 lots. In the same manner, the oil for delivery in Sept contracts has been trading higher by 0.32 % to Rs 530.20 / 10 kg in 109 lots.

Mentha oil prices softened by 0.21% to Rs 1,218 / kg in futures market today as speculators trimmed their exposure under negative cues from spot market. Moreover, abundant stock positions on higher supplies from producing regions kept the momentum downtrend. At the MCX, mentha oil for delivery in October was trading lower by 0.21% to Rs 1,218 per kg in business turnover of 140 lots. Likewise, the oil for delivery in Sept contracts was down by Rs 2, or 0.17% to Rs 1,203.50 / kg in 442 lots.

Commodity, Gold, currency tips: COMEX Gold rose, Rupee hits near 3-week high

The Indian rupee today, 28 August 2017, strengthened past 63 marks to hit near three-week high against the US dollar, tracking gains in its Asian peers and local equity markets. The rupee gained 6.25% so far this year, while FII inflows hit USD 7.12 billion in equity markets and USD 19.50 billion in debt markets.

Crude oil futures were on higher side last day on extended buying support following an extremely weak undertone in the US dollar and steady cues from equities. The crude oil production recorded a gain of 0.3percen on the week at 9.53 mn bpd and there was an increase of 11.5 percent over the year.

Gold & Silver were trading higher in early trading on Monday due to buying in precious metals by jewelers. COMEX Gold rose Friday, 0.5%, to settle at USD 1,297.90 per ounce, the highest in two months extending weekly gains after downbeat economic data. MCX Gold closed around Rs 29160 per 10 grams, up 0.22% on the day.