Gold Silver Reports — Underwater robots may help scientists unlock the secrets of the Indian monsoon, whose onset and intensity are key for food supplies and economic growth in the nation of 1.3 billion people.
Agri Commodity
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Turmeric Futures is expected to trade with an upside
Gold Silver Reports — Turmeric futures (July) is expected to trade with an upside bias & there is possibility that it can test 8300-8350 levels. Spot turmeric prices increased at Erode markets as some traders have received a few upcountry orders. Of the 5,000 bags arrived for sale, traders purchased all the medium and fine variety turmeric.
Jeera Trand Sideways Intraday level 16200-16600
Turmeric futures (June) is likely to consolidate in the range of 7900-8000 levels. The price of the turmeric further decreased on Tuesday. Finger turmeric decreased by Rs.600 a quintal and the root variety by Rs.350 a quintal in the Erode Turmeric Merchants Association Sales yard. Also, in the Regulated Market Committee, finger turmeric decreased by Rs.600 aquintal and the root variety by Rs.400 a quintal. In other markets also, both varieties decreased by Rs.600 a quintal. At the Erode Turmeric Merchants Association Sales yard,finger turmeric sold at Rs.7,455 to Rs.8,609 a quintal and root variety at Rs.7,099 to Rs.8,099 a quintal.
Failure to Beat 1st Resistance at 399; Corn
Gold Silver Reports — Corn 1st resistance at 3 week highs at 394/396 is the main challenge for bulls again today. A break higher is more positive & targets 404 then April highs at 407.
Global Wheat 2016-17 Production
Gold Silver Reports – Global wheat supplies are projected to rise 2 percent from 2015/16 as increased beginning stocks more than offset a decline in production from the previous year’s record.
Total wheat production is projected at 727.0 million tons, the second highest total on record. Large crops are expected in most key competing countries and favourable spring growing conditions suggest that yields will be well above trend in the EU, Russia, and Ukraine.
Sugar To Check Price Up
Gold Silver Reports — India Government has decided to allow States to impose and enforce stock limits to check the price rise in sugar.
Firming up, Indian Agri Markets
Gold Silver Reports — Markets firmed up for the Agricommodities on Wednesday after the initial corrections as pickup in demand on the domestic and export front, amidst falling arrivals and lower-production prospects kept supporting the prices.