BULLION METALS OUTLOOK -

GOLD -Gold have been getting slammed for weeks but we thinks this is more of a short-term reaction to subsiding
geopolitical fears and reiterates his long-term bullish outlook based on a number of fundamental drivers. Gold prices settled
higher on COMEX about 0.48% on Thursday ahead of G7 meeting in Italy in weekend. Gold prices settled at $ 1224.35
after its days low of $ 1216.75. Prices continue hold higher in early trades on Friday. The weekly trading levels for this
week were seen from $ 1220 to $ 1230 levels after a sharp decline in prices over the last three weeks. Gold traded in range
amid political turmoil in Washington, after President Trump unexpectedly fired FBI chief James Comey. However gains
were capped by better than expected producer inflation and labor market data. New applications for U.S. jobless benefits
unexpectedly fell last week, while producer prices rebounded strongly in April, pointing to a tightening labour market and
rising inflation that could spur the Federal Reserve to raise interest rates in June. Technically gold market is under short
covering as market has witnessed drop in open interest by 2.47% to settled at 6593 while prices up 8 rupees. Gold in MCX
Futures held near its important support at Rs.28000 to Rs.28100. Prices could stay higher till Rs.28100 to Rs.28200 levels in
near term. Prices expected to consolidate around lower levels and expect fresh selling near Rs.28200 to Rs.28300. A strong
break below Rs.27900 could take prices much deeper till Rs.27700 to Rs.27600 levels.

GOLD CHART

Chart Details -On the Above given daily chart of Gold which is Indicating the cautious note for upcoming week trading
sessions. The Metal is Expected to trade in bulls movement as the Technical indicators are indicating upward movement
in next week. Technically , Gold Significance Support at Rs.28000 to Rs.28100. Prices could stay higher till Rs. 28100 to
Rs. 28200 levels in near term. Prices expected to consolidate around lower levels and expect fresh selling near Rs. 28200
to Rs. 28300. A strong break below Rs.27900 could take prices much deeper till Rs. 27700 to Rs. 27600 levels.

Monday, 15 .May .2017

SILVER -Now MCX Silver is getting support at 37827 and below same could see a test of 37662 level, And resistance is
now likely to be seen at 38191, a move above could see prices testing 38390. Silver on MCX settled up 0.11% at 37992
buoyed by a weaker dollar, despite the release of bullish economic data. First-time claims for U.S. unemployment benefits
unexpectedly edged lower in the week ended May 6th, the Labor Department revealed in a report. The report said initial
jobless claims dipped to 236,000, a decrease of 2,000 from the previous week's unrevised level of 238,000. Meanwhile, the
Labor Department said the less volatile four-week moving average inched up to 243,500, an increase of 500 from the
previous week's unrevised average of 243,000. Silver trading little higher on Friday, the trading levels were seen from
$16.1 to $16.5. Prices had a strong consolidation near $16 and expect for a near term rebound in prices till $16.5 to $16.7.
Silver MCX Futures to settle higher on Friday around Rs.38500. Prices taken its important support at Rs.38000 and expect
more short covering to come above Rs.38500 till Rs.39000. Technically Silver market is under fresh buying as market has
witnessed gain in open interest by 2.02% to settled at 20777 while prices up 40 rupees.

SILVER CHART

Detail of Chart -On the Above given daily Chart of Silver Applied Bollinger Band and MACD both the indicators are
indicating medium term bullishness in the Market. We may witness some positive Up move in the Precious metal,
Technically now Silver is getting support at 38067 and below same could see a test of 37980 level, And resistance is now
likely to be seen at 38267, a move above could see prices testing 38380.
 MCX DAILY LEVELS

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

ALUMINIUM 31- MAY-17 127 125 123 122 121 120 119 117 115

COPPER 30- JUNE-2017 365 363 361 360 359 358 357 355 353

CRUDE OIL 19-MAY-17 3225 3174 3123 3100 3072 3049 3021 2970 2919

GOLD 05-JUNE-2017 28500 28343 28186 28085 28029 27928 27872 27715 27558

LEAD 31- MAY-2017 153 148 143 140 138 135 133 128 123

NATURAL GAS 25-MAY2017 233 228 223 220 218 215 213 208 203

NICKEL 31- MAY-2017 626 617 608 603 599 594 590 581 572

SILVER 05-JULY-2017 38759 38559 38359 38224 38159 38024 37959 37759 37559

ZINC 31- MAY-2017 177 173 169 167 165 163 161 157 153

MCX WEEKLY LEVELS

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

ALUMINIUM 31- MAY-17 127 125 123 123 121 121 119 117 115

COPPER 30- JUNE-2017 395 383 371 365 359 353 347 335 323

CRUDE OIL 19-MAY-17 3523 3359 3195 3114 3031 2950 2867 2703 2539

GOLD 05-JUNE-2017 28988 28683 28378 28214 28073 27909 27768 27463 27158

LEAD 31- MAY-2017 159 152 145 141 138 134 131 124 117

NATURAL GAS 25-MAY2017 267 249 231 223 213 205 195 177 159

NICKEL 31- MAY-2017 661 638 615 603 592 580 569 546 523

SILVER 05-JULY-2017 39805 39226 38647 38417 38068 37838 37489 36910 36331

ZINC 31- MAY-2017 186 179 172 168 165 161 158 151 144
 FOREX DAILY LEVELS

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

USDINR 29-MAY-17 65.24 65.12 64.88 64.56 64.37 64.05 63.86 63.72 63.58

EURINR 29-MAY-17 72.12 71.92 71.41 70.82 70.29 69.70 69.17 68.57 68.46

GBPINR 29-MAY-17 86.12 85.08 84.53 83.67 83.12 82.26 81.71 80.85 80.07

JPYINR 29-MAY-17 58.56 58.49 58.35 57.56 57.41 56.65 56.42 55.82 55.44

FOREX WEEKLY LEVELS

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

USDINR 29-MAY-17 66.28 65.73 65.01 64.46 63.74 63.19 62.47 62.03 61.93

EURINR 29-MAY-17 74.52 73.98 72.34 71.19 69.55 68.41 66.77 65.63 64.84

GBPINR 29-MAY-17 89.60 88.67 86.03 84.64 82.04 80.65 78.05 76.67 74.22

JPYINR 29-MAY-17 62.44 61.84 60.54 59.58 58.42 56.24 53.64 52.37 51.42
 NCDEX DAILY LEVELS

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

SYOREFIDR 19-MAY-2017 634 631 628 626 625 623 622 619 616

SYBEANIDR 19-MAY-2017 2885 2872 2859 2852 2846 2839 2833 2820 2807

RMSEED 19-MAY-2017 3832 3793 3754 3732 3715 3693 3676 3637 3598

JEERAUNJHA 19-MAY-2017 18941 18781 18621 18558 18461 18398 18301 18141 17981

GUARSEED10 19-MAY-2017 3781 3740 3699 3677 3658 3636 3617 3576 3535

TMC 19-MAY-2017 6108 5952 5796 5742 5640 5586 5484 5328 5172

NCDEX WEEKLY LEVELS

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

SYOREFIDR 19-MAY-2017 655 644 633 627 622 616 611 600 589

SYBEANIDR 19-MAY-2017 3130 3045 2960 2915 2875 2830 2790 2705 2620

RMSEED 19-MAY-2017 3921 3853 3785 3766 3717 3698 3649 3581 3513

JEERAUNJHA 19-MAY-2017 19996 19426 18886 18698 18346 18158 17806 17266 16726

GUARSEED10 19-MAY-2017 4012 3899 3786 3735 3673 3622 3560 3447 3334

TMC 19-MAY-2017 6589 6233 5877 5704 5521 5348 5165 4809 4453
MCX - WEEKLY NEWS LETTERS

INTERNATIONAL UPDATES ( BULLION & ENERGY )

GOLD

Gold prices were higher on Friday to end the week little changed as the weaker dollar boosted demand for the precious
metal. Gold for June delivery settled up 0.37% at $1,228.7 on the Comex division of the New York Mercantile
Exchange. The dollar weakened after data on Friday showed that U.S. retail sales grew less than expected last month,
and core inflation dipped, raising doubts over whether the Federal Reserve can hike rates two more times this year.
Retail sales rose 0.4% in April, the Commerce Department said, falling short of economists expectations for a 0.6%
increase. At the same time, the Labor Department reported that the annual rate of inflation slowed to 2.2% in April
from 2.4% in March.Annual core inflation, which strips out food and energy costs, fell to 1.9%, the lowest since
October 2015. Consumer prices rose 0.2% last month, rebounding from a 0.3% drop in March. Markets are currently
pricing in around a 70% chance of a rate hike in June in the wake of the data, The U.S. dollar index, which measures
the greenbacks strength against a trade-weighted basket of six major currencies, was down 0.48% at 99.05 following
the release of the data. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding
assets such as bullion, while boosting the dollar, in which it is priced.

Elsewhere in precious metals trading, silver rose 0.89% at $16.46 a troy ounce late Friday, while copper climbed 0.8%
to $2.52 a pound

Gold rose on Friday and was set to end the week little changed as the sudden sacking of the head of the FBI in the
United States stoked investor concerns and boosted demand for bullion, and the U.S. dollar and Treasury yields fell.
Spot gold XAU= was up 0.3 percent at $ 1,228.01 an ounce by 2:52 p.m. EDT , hovering around the 100-day moving
average. Gold rose 0.5 percent in the previous session, its biggest one-day gain in a month. U.S. gold futures GCcv1
settled up 0.3 percent at $ 1,227.70. "You continue to see the political uncertainty continue to support gold," said ETF
Securities analyst Martin Arnold, citing the dismissal of the Federal Bureau of Investigation's James Comey and the
upcoming British election as sources of uncertainty. U.S President Donald Trump on Thursday ran into resistance for
calling ousted Federal Bureau of Investigation chief Comey a "showboat". The attack was swiftly rebuffed by top U.S.
senators and acting FBI Director Andrew McCabe, who pledged that an investigation into possible Trump campaign
ties to Russia would proceed. capping gains in gold are expectations that the U.S. Federal Reserve will increase
interest rates in June. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding
assets such as bullion, while boosting the dollar, in which it is priced. Traders are expecting a 100 percent probability
of an interest rate increase in June. "After the recent drop, we perceive gold as looking technically stretched, negative
momentum indicators are beginning to fade and a June Fed rate hike seems largely expected.

Gold demand in Asia rose this week as a dip in bullion prices enticed buyers to make new purchases, with the metal
being sold at a higher premium in top consumer China. The international benchmark spot gold XAU= plunged to an
eight-week low of $ 1,213.81 an ounce earlier this week. In India, the second-largest consumer of the metal, gold
futures MAUc1 were trading around 28,000 rupees per 10 grams on Friday, down 4 percent in nearly four weeks.
"Demand has been good in the last few weeks. Consumers are comfortable at the current price level. Dealers in India
were charging a premium of up to $1 an ounce this week over official domestic prices, compared with a premium of $
2 last week. The domestic price includes a 10 percent import tax. India's gold imports in April more than doubled from
a year ago to 75 tonnes on strong demand during a festival that prompts purchases. are building inventory as sales
were good during Akshaya Trititya. Wedding season demand is also better than last year," said a Mumbai-based
banker with a private bank. Indians celebrated the annual festival of Akshaya Tritiya, when buying gold is considered
auspicious, in the last week of April. In the first quarter of this year, Indian gold demand rose 15 percent from a year
ago, the World Gold Council said in a report published earlier this month. China, premiums rose up to $15 an ounce
over the international benchmark, from $ 12 last week. Premiums in Hong Kong were quoted at around 60 to 90 cents.

"There is good amount of buying interest at these price levels in China,In Singapore, gold premiums remained in a 70
cents to $1 range, unchanged from last week, while prices in Tokyo were at a discount of 50 cents, compared with a
25-cent discount last week.

Gold prices moved higher on Friday, as recent political events in the U.S. continued to weigh on the greenback and
boost demand for safe-haven assets, although investors were also eyeing the release of U.S. data due later in the day.

On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.26% at
$1,227.36.

The June contract ended Thursdays session 0.43% higher at $1,224.20 an ounce.

Futures were likely to find support at $1,214.30, the low of May 9 and resistance at $1,236.90, the high of May 8.
Markets were still jittery since U.S. President Donald Trumps unexpected decision to fire FBI Director James Comey.
Comey had been leading his agency's investigation into alleged Russian meddling in the 2016 U.S. presidential
campaign and possible collusion with Trump's campaign.

Investors were concerned the latest events in Washington could hamper the U.S. administration's ability to implement
promised tax reform and stimulus measures. The U.S. dollar index, which measures the greenbacks strength against a
trade-weighted basket of six major currencies, was steady at 99.48 on Friday morning.

Gold prices inched higher in European trade on Thursday, but held near their lowest level in around eight weeks amid
growing expectations for a U.S. interest rate hike next month. Comex gold futures rose around $ 4.00, or about 0.3%,
to $ 1,222.70 a troy ounce by 3:05AM ET. Meanwhile, spot gold was at $ 1,222.30. The yellow metal hit its lowest
since March 15 at $ 1,214.30 on Tuesday amid fading demand for safe-haven assets. Markets are pricing in around an
80% chance of a hike at the Fed's June meeting. The metal is highly sensitive to rising U.S. interest rates, which
increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced. The
dollar index, which tracks the greenback against a basket of six major currencies, was at 99.46 in London morning
trade, not far from a three-week high of 99.61. The benchmark 10-year U.S. Treasury yield was at around 2.395%,
within sight of a five-week peak of 2.416%. There are a couple of economic reports Thursday, including weekly
jobless claims and producer price inflation data both due at 8:30AM ET. Also on the Comex, silver futures gained
10.6 cents, or about 0.7%, to $16.31 a troy ounce. It fell to a more than four-month low of $16.06 on Tuesday.

Gold turned lower but held above the previous day's eight-week low on Wednesday as U.S. President Trump's abrupt
firing of FBI chief James Comey weighed on U.S. stocks, though gains were capped by expectations of further interest
rate increases. U.S. equities .SPX paused and the dollar .DXY eased as risk appetite faded on concerns that Trump's
dismissal of Comey could make it harder for him to push through tax reform plans. Spot gold XAU= was down 0.2
percent at $1,218.95 an ounce by 1:47 p.m. EDT, holding above Tuesday's two-month low at $1,213.81 but turning
lower as U.S. Treasury yields US10YT=RR turned up. U.S. gold futures GCv1 for June delivery settled up 0.2 percent
at $ 1,218.90.

"looks like an attempt at stabilization today after the sharp losses in the preceding days. Trump's firing of FBI Chief
Comey adds new uncertainty, stock markets seem to pause." Trump attributed his decision to sack Comey, who had
been leading an investigation into the Trump campaign's possible collusion with Russia during the 2016 election, to
the FBI chief's handling of an investigation into presidential nominee Hillary Clinton's emails. Democrats said that
Trump had political motives for the move. Pressure remained on gold as expectations for further U.S. monetary policy
tightening next month underpinned the dollar and weighed on bullion. "Gold prices have dipped below the 100-day
moving average, implied volatility has eased towards 2005 lows and ... strengthening U.S. Treasury yields are a strong
downside risk for gold prices.

Gold prices were higher in European trade on Wednesday, bouncing off the prior session's eight-week low after U.S.
President Donald Trump abruptly fired FBI Director James Comey in a move that shocked Washington. Rekindled
fears that North Korea could be gearing up for another weapons test also supported gold. Comex gold futures rose
around $ 6.00, or about 0.5%, to $ 1,222.30 a troy ounce by 3:05AM ET . Meanwhile, spot gold was at $1,221.80. The
yellow metal hit its lowest since March 15 at $1,214.30 on Tuesday amid fading demand for safe-haven assets. The
dollar index, which tracks the greenback against a basket of six major currencies, slipped to 99.33, moving away from
Tuesday's three-week high of 99.56. The benchmark 10-year U.S. Treasury yield slipped to around 2.39%, down from
Tuesday's five-week peak of 2.416%. However, expectations of a Federal Reserve rate hike next month limited gains.
Markets are pricing in around an 80% chance of a hike at the Fed's June meeting.

The metal is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding
bullion while boosting the dollar, in which it is priced.

Also on the Comex, silver futures gained 14.4 cents, or about 0.9%, to $16.21 a troy ounce. It fell to $16.06 on
Tuesday, a level not seen since January 3.

Gold prices inched down in European trade on Tuesday, holding near the prior session's seven-week low amid fading
demand for safe-haven assets. Comex gold futures slipped around $1.00, or about 0.1%, to $1,226.50 a troy ounce by
2:50AM ET. Meanwhile, spot gold was little changed at $1,225.90.

The yellow metal hit its lowest since March 16 at $1,221.00 on Monday as safe-haven demand ebbed after market-
friendly centrist Emmanuel Macron beat far-rightist Marine Le Pen to clinch the French presidency. The victory for
Macron signaled that political risks in France and across Europe are receding, in the wake of the populist surge which
resulted in Brexit and propelled Donald Trump to the White House, dampening demand for the yellow metal, which is
often used as a hedge in times of political uncertainty. Meanwhile, investors awaited fresh signals on whether the
Federal Reserve will raise interest rates next month.

There are a few economic reports Tuesday, including the NFIB small business survey at 6:00AM ET, followed by
JOLTS job opening data and wholesale trade for March both due at 10:00AM ET.

Markets are pricing in around an 82% chance of a hike at the Fed's June meeting, The metal is highly sensitive to
rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the
dollar, in which it is priced.
AHEAD OF THE COMING WEEK SIGNIFICANT EVENTS LIKELY TO AFFECT THE MARKETS.

Monday, May 15

New Zealand is to release data on retail sales.

China is to report on industrial production and fixed asset investment.

Switzerland is to publish figures on producer price inflation.

The U.S. is to release a report on manufacturing activity in the New York region.

Tuesday, May 16

The Reserve Bank of Australia is to publish the minutes of its latest monetary policy meeting.

The UK is to report on consumer price inflation.

The euro zone is to produce revised data on first quarter economic growth.

The ZEW Institute is to report on German economic sentiment.

The U.S. is to release reports on building permits, housing starts and industrial production.

Wednesday, May 17

New Zealand is to produce figures on producer price inflation input.

Australia is to release data on the wage price index.

The UK is to publish its monthly employment report.

The euro zone is to release revised data on consumer price inflation.

Canada is to report on manufacturing sales.

Thursday, May 18

Japan is to report on first quarter economic growth.

Australia is to publish its monthly employment report.

The UK is to produce retail sales figures.

 The U.S. is to publish data on initial jobless claims and manufacturing activity in the Philadelphia
region.

Friday, May 19

Canada is to round up the week with data on retail sales and inflation.

ENERGY

Oil prices jumped by over 1.5 percent on Monday after the Saudi Arabian and Russian energy ministers said in a joint
statement that an OPEC-led crude production cut would be extended from the middle of this year until March 2018.
Brent crude LCOc1 was at $ 51.68 per barrel at 0327 GMT, up 84 cents, or 1.7 percent, from their last close. U.S.
West Texas Intermediate crude CLc1 was at $ 48.64 per barrel, up 80 cents, or 1.7 percent. Saudi Energy Minister
Khalid al-Falih and his Russian counterpart Alexander Novak met on Monday in Beijing and said that a joint deal to
cut crude supplies in order to prop up the market would be extended from the middle of this year until March 2018.
two ministers agreed to do whatever it takes to achieve the desired goal of stabilizing the market and reducing
commercial oil inventories to their 5 year average level, as well as to underscore the determination of oil producers to
ensure market stability," the joint statement said. The Organization of the Petroleum Exporting Countries, of which
Saudi Arabia is the de-facto leader, and other producers led by Russia, pledged late last year to cut output by almost
1.8 million barrels per day during the first half of 2017. The extension of the cut into the first quarter of next year will
initially be on the same volume terms as before, although the ministers said they hoped other producers would join the
efforts. The ministers also expressed optimism that a wider circle of countries outside the current group will see the
benefit of this cooperation in bringing stability to oil markets, and will join the effort," it added. Traders said it was
significant that the joint statement by the world's two top oil producers came before the May 25 OPEC meeting.
"Saudi and Russia are clearly working closely together. Saudi seems very determined to push oil prices higher by
making this joint statement now. . Undermining efforts by OPEC and Russia has been the United States, which did not
participate in the agreement to cut supplies.

Oil edged lower Friday on some profit-taking ahead of U.S. rig count data due out later in the session. U.S. crude was
off 8 cents, or 0.17%, at $47.75 at 07:15 ET. Brent crude shed 4 cents, or 0.08%, to $50.73. Oil continued to be
buoyed the previous session by an upbeat Energy Information Administration inventories report. The EIA reported a
fall of 5.25 million in crude stockpiles in the latest week against a forecast drop of 1.79 million barrels in the latest
week. Investors are looking to the latest Baker Hughes U.S. rig count.Increased U.S. shale activity has eroded the
impact of output cuts by major producers. OPEC and non-OPEC producers have agreed to cuts of 1.8 million barrels a
day in the first half. A decision on whether to extend the accord possibly to the end of the year is expected at a meeting
on May 25.

Oil prices rose on Friday as traders expected OPEC-led production cuts to extend beyond the middle of this year, and
as U.S. crude inventories fell to their lowest levels since February.

International Brent crude futures LCOc1 were at $ 50.96 per barrel at 0646 GMT on Friday, up 19 cents, or 0.37
percent, from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $ 48.01 per barrel, up 18
cents, or 0.38 percent. "Crude prices could be poised for recovery. The Organization of the Petroleum Exporting
Countries and other producers including Russia have pledged to cut output by almost 1.8 million barrels per day
during the first half of the year. OPEC and the other participating producers are scheduled to meet on May 25 in
Vienna, Austria, to decide whether to extend the cuts and, potentially, agree a deeper reduction. The bank also said
that a fall by 5.3 million barrels in U.S. crude inventories this week to 522.5 million barrels was "providing some
fundamental support for prices". Based on the lower U.S. inventories and the expectation of an extended production
cut, this week has seen the market stabilise, including a recovery of Brent back above $50 per barrel, following steep
price falls last week. Despite this, analysts warned that markets remained well supplied.The U.S. oil production has
gained significant momentum" and that there was "limited downside risk in the short-term."

Oil prices rose by around 1 percent on Thursday, and Brent was firmly back over $ 50 per barrel, as a fall in U.S. fuel
inventories and a bigger than expected cut in Saudi supplies to Asia tightened the market. International Brent crude
futures LCOc1 were at $ 50.68 per barrel at 0648 GMT on Thursday, up 46 cents, or 0.9 percent, from their last close.
U.S. West Texas Intermediate crude futures CLc1 were at $47.82 per barrel, up 49 cents, or 1 percent from the last
settlement. "We saw the biggest draw in inventories for the year last week with stockpiles down more than 5 million
barrels. And it looks like OPEC's production cut is finally biting,"The Organization of the Petroleum Exporting
Countries and other producers including Russia have pledged to cut output by almost 1.8 million barrels per day
during the first half of the year. So far, however, there have been few signs that markets have tightened significantly as
producers shielded their biggest customers, especially in Asia, from the cuts.

But after Brent prices fell back below $ 50 per barrel last week, analysts said producers felt forced to act. Saudi
Arabia, the world's biggest oil exporter, has notified several Asian refiners of its first cuts in crude allocations for
regional buyers since OPEC's output reduction took effect in January. Aramco will reduce oil supplies to Asian
customers by about 7 million barrels in June. and non-OPEC members have shown commitment to production cuts
and an extension of the agreement... will assist in drawing stocks over Q3 and stabilising the market. In the United
States, crude stockpiles posted their biggest weekly drawdown since December last week as imports dropped sharply,
while inventories of refined products also fell. Crude inventories USOILC=ECI fell 5.2 million barrels in the week to
May 5, the U.S. Energy Information Administration said. At 522.5 million barrels, crude stocks were the lowest since
February. U.S. oil inventories fell, the country's crude oil production C-OUT-T-EIA continued to rise, jumping above
9.3 million bpd last week, in what is now a more than 10 percent increase since its mid-2016 trough.

Oil prices rose on Thursday, and Brent was firmly back over $ 50 per barrel, as a fall in U.S. crude inventories and a
more severe than expected cut in Saudi supplies to Asia tightened the market.

Brent crude futures LCOc1 , the international benchmark for oil prices, were at $ 50.33 per barrel at 0039 GMT on
Thursday, up 11 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate crude oil futures CLc1 were
trading at $ 47.46 per barrel, up 13 cents, or 0.3 percent from the last settlement. "We saw the biggest draw in
inventories for the year last week with stockpiles down more than 5 million barrels. And it looks like OPEC's
production cut is finally biting, The Organization of the Petroleum Exporting Countries and other producers including
Russia have pledged to cut output by almost 1.8 million barrels per day during the first half of the year. So far,
however, there have been few signs that global markets are actually tightening as producers shielded their biggest
customers, especially in Asia, from the cuts. But after Brent prices fell back below $ 50 per barrel last week, analysts
said producers felt forced to act. Saudi Arabia, the world's biggest oil exporter, has notified several Asian refiners of
its first cuts in crude allocations for regional buyers since OPEC's output reduction took effect in January. reported on
Tuesday that state-owned Saudi Aramco will reduce oil supplies to Asian customers by about 7 million barrels in June.
the United States, U.S. crude stockpiles posted their biggest one-week drawdown since December last week as imports
dropped sharply, while inventories of refined products also fell. Crude inventories USOILC=ECI fell 5.2 million
barrels in the week to May 5, the U.S. Energy Information Administration said. At 522.5 million barrels, crude stocks
were the lowest since February.

Oil futures rose on Wednesday after Reuters reported Saudi Arabia would cut supplies to the region as OPEC tries to
counter rising U.S. output that is threatening to derail its attempts to end a sustained global crude glut. Oil was also
supported by a larger than expected fall in U.S. crude inventories last week, down 5.8 million barrels compared with
analysts' expectations for a 1.8 million barrels decline, according to industry group the American Petroleum Institute.
Global benchmark Brent futures LCOc1 were up 19 cents, or 0.4 percent, at $ 48.92 a barrel at 0612 GMT. They fell
1.2 percent on Tuesday. U.S. West Texas Intermediate crude CLc1 was up 23 cents, or 0.5 percent, at $46.11 a barrel.
State-owned Saudi Aramco will reduce oil supplies to Asian customers by about 7 million barrels in June, a source
told Reuters, as part of OPEC's agreement to reduce production and as it trims exports to meet rising domestic power
demand over summer. million barrels is roughly two days of oil imports into Japan, the world's fourth biggest
importer. Aramco had previously been maintaining supplies to its important Asian customers. The Saudis are largely
about Asian customers, so if they are trimming sales that is supportive at the margins. WTI also fell 1.2 percent in the
previous session, and the closing price for both contracts on Tuesday was the second lowest since Nov. 29, the day
before the Organization of the Petroleum Exporting Countries agreed to cut production during the first half of 2017.
Prices surged immediately after the agreement, but have come under sustained pressure in recent weeks as U.S.
production has ramped up and pushed back the expected timing for when the oil market will come into balance. U.S.
crude production is expected to rise by more than previously expected in 2017 to 9.31 million barrels per day from
8.87 million bpd in 2016, a 440,000 bpd increase, the U.S. Energy Information Administration said. numbers on
weekly U.S. crude and product inventories from the EIA are scheduled to be released 1430 GMT on Wednesday.

Oil prices surrendered gains on Monday as traders weighed news that an OPEC-led production cut scheduled to end in
June could be extended against an ongoing upsurge in U.S. shale production. U.S. crude was down 17 cents, or 0.37%,
at $ 46.05 by 08.07 ET. Brent crude was down 20 cents, or 0.41% to $ 48.90. Prices rose earlier after Saudi Arabia's
energy minister indicated that an OPEC-brokered production cut could be extended to the end of the year, or possibly
beyond. A decision on whether to continue the production cuts is expected at OPEC's next official meeting on May 25.

The comments came after oil prices fell to almost six-month lows last week due to ample supply in countries that are
not part of the output cut, including the U.S., where shale production is soaring. Data on Friday showed that the
recovery in U.S. drilling had extended for a year.

Investors were also digesting oil data from China that showed imports eased in April.

Oil prices gave up earlier gains on Tuesday trading session, as concerns over slowing demand and a relentless rise in
U.S. crude output undermined the impact of hopes that OPEC-led production cuts could be extended. Brent crude
futures LCOc1 , the international benchmark for oil prices, were at $ 49.33 per barrel at 0651 GMT on Tuesday, down
from a high of $49.60 earlier in the day and near their last close. U.S. West Texas Intermediate crude oil futures CLc1
were trading at $ 46.40 per barrel, down from an intra-day high of $ 46.66 and also little changed from their last
settlement. Traders said that oil markets were under pressure as persistent climbs in U.S. production, especially from
shale oil drillers, and concerns over a slowdown in China undermine efforts led by the Organization of the Petroleum
Exporting Countries to prop up prices.
U.S. crude production has risen by over 10 percent since mid-2016 to 9.3 million bpd, close to the output of top
producers Russia and Saudi Arabia. "That's making it difficult to drive the stockpiles down to a level OPEC thinks will
see prices rise sustainably. U.S. bank Goldman Sachs said that U.S. shale drillers "fundamentally changed" the oil
industry due to their ability to ramp up output much faster than conventional producers. Bank of America Merrill
Lynch said the low oil prices were also due to a slowdown in demand. Oil demand growth this year is underwhelming,
in part explaining why crude oil prices and refining margins have sold off sharply recently," it said. concerns about
Chinese economic growth as imports and exports slowed. "The economy could slow more sharply than . expected.
Top exporter and de facto OPEC leader Saudi Arabia said on Monday it would "do whatever it takes" to rebalance a
market that has been dogged by oversupply for over two years, resulting in crude prices below $ 50 per barrel.
cornerstone of the Saudi promise to rebalance the market would be to extend, Potentially into 2018, a pledge led by
OPEC and other producers including Russia to cut output by almost 1.8 million barrels per day during the first half of
the year.

BASE METALS OUTLOOK :

Trading Ideas:

Zinc trading range for the day is 160.6-169.2.

Zinc dropped as mine output rises despite of hopes of refined zinc market deficit and higher premiums.

Spot premiums on zinc in Guangdong rose above those in Tianjin and Shanghai due to tightening
supply.

Chinas refined zinc production fell to 413,000 tonnes in April 2017, a drop of 3.95% month-on-month
and 5.92% year-on-year

Copper -

Copper trading range for the day is 356.7-362.5.

Copper rose with investors tempted by falling stockpiles and as Chinese authorities' move to ease
monetary policy spurred growth hopes.

Chinese banks extended 1.1 trillion yuan ($159 billion) in net new yuan loans in April, above
expectations.

SHFE Copper warehouses stocks fell to 194,993 tonnes, their lowest since Jan. 20.

Aluminum
 Aluminum trading range for the day is 120.2-122.

Aluminum gained tracking LME prices ended up 0.9 percent as support seen after China might cut
aluminum production by as much as 1-1.5 million tonnes.

Global aluminum market deficit will expand to 1.1 million tonnes in 2017 from 0.7 million tonnes in
2016 since demand will grow faster than supply, Rusal said.

Global demand for aluminum continued to grow in the first quarter of 2017, led by the transportation
sector, while supply is expected to tighten.

BASE METAL
( 12 - MAY - 2017 )

COPPER -
Continuing its rising streak for the third straight day, copper prices strengthened by 0.25 per cent to Rs
363.30 per kg in futures trade today as speculators engaged in building up positions, tracking a firm trend at
spot market on improved demand At the Multi Commodity Exchange, copper for delivery in June traded
higher by 90 paise, or 0.25 per cent, to Rs 363.30 per kg, in a business turnover of 26 lots. In a similar
fashion, the metal for delivery in far-month August edged up by 40 paise, or 0.11 per cent, to Rs 359.25 per
kg in 3,353 lots. Analysts said expanding of positions by traders amid firm trend at spot market on rising
demand from consuming industries, mainly kept copper prices higher at futures trade.

( 12 - MAY - 2017 )

ALUMINIUM
Aluminium prices were up by 0.29 per cent to Rs 121.20 per kg in futures trading today as speculators built
up fresh positions amid upsurge in demand at the spot market. At the Multi Commodity Exchange,
aluminium for delivery in June edged up higher by 35 paise, or 0.29 per cent to Rs 121.20 per kg in business
turnover of 40 lots. Similarly, the metal for delivery in May contracts traded higher by 30 paise, or 0.25 per
cent to Rs 121.15 per kg in 599 lots. Analysts said fresh positions created by participants due to pick up in
demand from consuming industries in the spot market mainly led to rise in aluminium prices at futures trade.

( 11 - MAY - 2017 )

COPPER -
Copper traded higher by 0.20 per cent to Rs 358.70 per kg in futures market today as speculators built up
fresh positions amid pick up in demand at domestic spot markets. However, weakness in the base metals at
the London Metal Exchange on inventory inflow and weak Chinese data capped the gains. At the Multi
Commodity Exchange, copper for delivery in June month rose by 70 paise, or 0.20 per cent to USD 358.70
per kg in business turnover of 291 lots. On similar lines, the metal for delivery in far-month August
contracts traded higher by 45 paise, or 0.12 per cent, to Rs 362.35 per kg in 2 lots.

Analysts said raising of bets by participants, tracking firm spot demand, mainly supported the upside in
copper prices at futures trade.

( 11 - MAY - 2017 )

NICKEL -
Nickel prices rose 0.25 per cent to Rs 592.50 per kg in futures trading today as speculators widened their
bets, driven by pick up in demand at the spot market. At the Multi Commodity Exchange, nickel for
delivery in current month went up by Rs 1.50, or 0.25 per cent to Rs 592.50 per kg in business turnover of
363 lots. Likewise, the metal for delivery in far-month June contracts gained Rs 1.30, or 0.22 per cent to Rs
598 per kg in 8 lots. Analysts attributed rise in nickel futures to building-up of positions by participants due
to pick up in demand from alloy-makers at the spot market. However, losses in the base metals led by copper
in global markets restricted the gains.

( 10 - MAY - 2017 )

COPPER -
Copper futures traded 0.07 per cent higher at Rs. 359.30 per kg today as speculators enlarged positions amid
rising spot demand. At the Multi Commodity Exchange, copper futures for delivery in far-month August
rose 25 paise, or 0.07 per cent, at Rs. 363.10 per kg, in a business turnover of five lots. Similarly, the metal
for delivery for June edged up by 20 paise, or 0.06 per cent, at Rs. 359.30 per kg in 809 lots. Marketers
attributed rise in copper prices at futures trade for pick up in demand from consuming industries at the
domestic spot markets.

( May - 10 - 2017 )

COPPER
Supply of copper scrap has tightened recently after growing in the first quarter, while disruptions at major
mines earlier in 2017 are hitting availability of the metal, the co-founder of metals hedge fund RK Capital
Management, said on Wednesday. Crimped supply of copper, used in everything from wiring to
construction, would drag on prices that have eased this year after surging in 2016.

NICKEL - ( May - 10 - 2017 )

At least eight nickel mines in the Philippines have been suspended since last year for environmental
breaches under a crackdown launched by former environment secretary Regina Lopez. But she was ousted
last week by a panel of lawmakers that confirm appointments. At some stage, the price will do its job of
rationing supply whether that is at $9,000 (per tonne), $ 8,500 or $8,000, I'm not sure, somewhere in that
range," said Lilley. London Metal Exchange nickel prices stood around $9,200 per tonne on Wednesday.

( 09 - MAY - 2017 )

NICKEL -
Nickel prices were down 0.10 per cent to Rs 584.80 per kg in futures trade today as traders cut down their
bets amid low demand at domestic spot markets. At the Multi Commodity Exchange, nickel for delivery in
June shed 60 paise, or 0.10 per cent down, at Rs 594.80 per kg, in a business turnover of six lots. The metal
for delivery in current month also eased by 50 paise, or 0.08 per cent, to Rs 589.20 per kg, in a turnover of
384 lots. Analysts attributed the fall in nickel prices in futures trade mostly to a weakening trend in base
metals at the domestic spot markets owing to subdued demand from alloy- makers.

COPPER - ( 09 - MAY - 2017 )

Copper prices fell 0.29 per cent to Rs 359.55 per kg in futures trade today as speculators trimmed their
positions amid subdued demand at the spot markets. At the Multi Commodity Exchange, copper for
delivery in far-month August eased Rs 1.05, or 0.29 per cent, to Rs 359.55 per kg, in a business turnover of
two lots. On similar lines, the metal for delivery in June shed 70 paise, 0.20 per cent, to Rs 355.95 per kg in
485 lots. Marketmen attributed the fall in copper prices at futures trade to cutting down of positions by
traders in line with a weak trend in base metals at the domestic spot markets due to subdued demand from
consuming industries.

( 08 - MAY - 2017 )

COPPER -
Amid a weak trend in the global market and subdued domestic demand, copper prices fell 1.04 per cent in
futures trade today. At the Multi Commodity Exchange, copper for delivery in June shed Rs 3.75, or 1.04
per cent, to Rs 357.70 per kg in a business turnover of 209 lots. On similar lines, the metal for delivery in
far-month August was down by Rs 3.55, or 0.97 per cent, to Rs 361.30 per kg in 3 lots. Analysts attributed
the fall in copper futures to offloading of positions by participants tracking weak global cues and low
demand at the domestic spot markets.

NCDEX - WEEKLY MARKET REVIEW

FUNDAMENTAL UPDATES OF AGRI MARKET -

( May - 12 - 2017 )
SUGAR

Raw sugar futures on ICE edged higher on Friday as more positive technicals lent support, while
cocoa slipped as the market shrugged off signs of further unrest in top producer Ivory Coast.

SUGAR
July raw sugar SBc1 rose 0.12 cents, or 0.77 percent, to 15.75 cents per lb by 1124 GMT, regaining
some ground after falling 1.3 percent in the previous session on chart resistance.

Dealers said technicals were more supportive on Friday but the market's inability to break out of the
recent range had stifled appetite to test upward potential.

"The market is trying to push higher. However, sentiment remains uncertain and we could consolidate
in today's session," said Geordie Wilkes, analyst at Sucden Financial.

Participants were also monitoring weather risk, though chances for disruptions from an El Nino
weather event were seen as fading.

August white sugar LSUc1 was up $2.10, or 0.47 percent, at $449.70 a tonne.

Five major chocolate and candy companies announced a joint commitment on Thursday to reduce
calories in many sweets sold on the U.S. market. July London cocoa LCCc2 fell 7 pounds, or 0.46
percent, to 1,523 pounds a tonne, while July New York cocoa CCc2 was down $9, or 0.46 percent, at
$1,943 a tonne.

The market shrugged off further unrest in top producer Ivory Coast, where gunfire erupted in several
locations on Friday, including the military headquarters in Abidjan, as anger spread after some
leaders of a group of mutineers decided to drop demands for bonuses. "The market has heard these
stories before and, realistically, nothing is really happening," said one dealer. "For now, it's not
affecting the flow of cocoa. That's really what we have to see to get a reaction from the market."

Enduring worries about ample supplies were also reinforced by broadly crop-friendly weather in the
country, dealers said.

A strike by dockers at Cameroon's main port in Douala on Friday blocked exports of cocoa and
coffee, a port spokesman told Reuters. The country is the world's fifth-largest cocoa producer. July
robusta coffee LRCc2 fell $1, or 0.05 percent, to$1,983 a tonne.

July arabica coffee KCc2 was off 0.45 cents, or 0.34 percent, at $1.338 per lb.
 Colombia is expected to produce at least 15 million 60kg sacks of coffee next year, against 14.7
million this year, Finance Minister Mauricio Cardenas said on Thursday.

( 11 - MAY - 2017 )

Steady condition persisted in edible and non-edible oils in the Vidarbha region of Western Maharashtra today
as prices moved in a tight range in lackluster trading ad settled around previous closing. Arrivals and offtake
too remained at a low ebb and business volume remained weak. Easy condition in Malaysian palm oil, fresh
fall in Madhya Pradesh edible oils and downward trend on NCDEX in soyabean oil also affected sentiment
in thin trading activity, sources said Friday.

SOYMEAL

Soymeal prices today suffered heavily here on lack of demand from South-basedtraders amid good
supply from local crushing plants. Fresh fall in overseas soymealprices also affected sentiment.

SOYABEAN

Soyabean prices reported down in Nagpur Agriculture Produce MarketingCommittee on poor buying
support from local crushing plants. Sharp fall in soymeal, no takers to soyabean oil since past three
sessions, downward trend in Madhya Pradesh soyabean prices and high moisture content arrival
affected prices here. About 1,200 soyabean bags reported for auctions here, according to sources.

11 - MAY - 2017
A government panel has formally cleared an application seeking approval for commercial use of what would
be India's first genetically modified food crop and has now put the ball in politicians' court to give their final
approval.The environment ministry's Genetic Engineering Approval Committee on Thursday recommended
the commercial use of indigenously developed GM mustard, loosely called rapeseed, two government
sources said. Now, Environment Minister Anil Madhav Dave has to make a decision in consultation with
Prime Minister Narendra Modi, the sources with direct knowledge of the matter said. Dave could not
immediately be reached for comment. Late last year Reuters reported that the GEAC gave its technical
clearance for GM mustard, following multiple reviews of crop trial data generated over almost a decade. its
recent report, a government think-tank said New Delhi could prevent foreign firms monopolising the market
for GM seeds by allowing the sale of only locally developed varieties. MON.N , the world's biggest seed
company, is locked in a bitter battle with an Indian firm, drawing in the Indian and U.S. governments.
11 - MAY - 2017

SOYBEANS
A movement to replace genetically modified soybeans with conventional seeds is gaining traction in Brazil's
largest soy- producing state of Mato Grosso as farmers anticipate growing demand from Asia and Europe.
Brazil was an early adopter of transgenic crops and more than 96 percent of its soy harvest is of GM
varieties, which helped to transform the country into the world's largest soy exporter. Biotech crops, such as
corn, soybeans and cotton, are genetically modified to resist pests or disease, tolerate drought or withstand
sprayings of weed killers like glyphosate, the active ingredient in Monsanto Co's MON.N Roundup
herbicide. Wininton Mendes, coordinator of a program to promote use of conventional seeds run by Mato
Grosso growers and the government agricultural research agency Embrapa, said doubts related to the impact
of GM food on human health is one driver behind demand for conventional raw materials.

SUGAR 10 - MAY - 2017

Raw sugar futures on ICE were slightly lower on Thursday in a modest retreat after rising for three straight
sessions as the market awaited the release of Brazilian harvest data.

SUGAR

July raw sugar SBc1 fell 0.08 cent, or 0.5 percent, to 15.76 cents per lb by 1134 GMT. The front
month contract had risen by 2.6 percent on Wednesday.

Dealers said harvest data for centre-south Brazil was due to be issued by growers' association
UNICA around 1300 GMT on Thursday covering the second half of April.

An S&P Global Platts survey of analysts said the crush was expected to have been 26 million tonnes,
down 28 percent, year-on-year.

India, the world's biggest sugar consumer, has no plans to allow extra imports of the sweetener as
stocks lying in mills will suffice, Food Minister Ram Vilas Paswan said. Wilmar's sugar segment
recorded a loss of $ 34.5 million in its first quarter results "mainly due to seasonal maintenance in the
first half of the year by the Australian Milling business and weaker performances from both the
merchandising and refining businesses.

COTTON 10 - MAY - 2017

Cotton planting in India, the world's biggest producer of the fibre, is likely to rise by 15 percent in the
2017/18 marketing season to a three-year high as farmers switch away from other crops, likely boosting
cotton production and exports. Higher output in India could kill a rally that pushed global cotton prices CTc1
to their highest in three years this month. "This year farmers received higher prices, so they are going to
raise the area under cotton. We are expecting around a 15 percent increase," said Mekala Chockalingam,
chairman of the state-run Cotton Corporation of India, the biggest cotton buyer in the country. Domestic
cotton prices rose 19 percent from a year ago to 41,300 rupees ($639) per 356 kg candy, following the rally
in overseas prices.

CRUDE PALM OIL ( 10 - May - 2017 )

Crude palm oil prices were up by 0.14 per cent to Rs. 489.20 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 in
June rose by 0.70 paise, or 0.14 per cent, to Rs 489.20 per 10 kg, in a business turnover of 51 lots.
Similarly, the oil for delivery this month went up by 0.60 paise, or 0.12 per cent, to Rs. 499.90 per 10 kg in
93 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.

JEERA ( 10- May - 2017 )

Jeera prices fell by 0.84 per cent to Rs. 18,395 per quintal in futures trade today as speculators engaged in
trimming positions amid lower domestic and exports demand at the spot market.
Furthermore, huge stocks at the spot markets following higher supplies from the major growing regions in
Gujarat and Rajasthan too fuelled the downtrend. At the National Commodity and Derivatives Exchange,
jeera for delivery in June was trading lower by Rs. 155, or 0.84 per cent, to Rs. 18,395 per quintal, with an
open interest of 16,539 lots.
Similarly, the spice for delivery this month quoted lower by Rs. 135, or 0.74 per cent, to Rs. 18,220 per
quintal in 2,217 lots. Analysts said trimming of positions by participants on the back of easing domestic as
well as exports demand at spot market against adequate stocks position, mainly kept jeera prices down at
futures trade.

CARDAMOM ( 09- MAY - 2017 )

Cardamom prices drifted lower by Rs 12.10 to Rs 1,043 per kg in futures market today as traders trimmed
holdings amid sluggish demand at the spot market. Moreover, adequate stocks position following increased
arrivals from producing regions too fuelled the downtrend. At the Multi Commodity Exchange, cardamom
for June delivery declined by Rs 12.10, or 1.15 per cent, to Rs 1,043 per kg, in a business turnover of 25 lots.
Traders said offloading of positions by participants amid sluggish demand in the spot market against
adequate stocks position on higher supplies from producing belts, mainly led to the decline in cardamom
prices at futures trade.
 MENTHA OIL ( 09 - MAY - 2017 )
Mentha oil prices rose 0.47 per cent to Rs 911.80 per kg in futures market today on rise in demand from
consuming industries at the spot market against restricted arrivals from producing belts. At the Multi
Commodity Exchange, mentha oil for delivery this month rose Rs 4.30, or 0.47 per cent, to Rs 911.80 per
kg, clocking a business volume of 73 lots. The oil for June delivery traded higher by Rs 3.30, or 0.36 per
cent, to Rs 910 per kg, with a trading volume of 15 lots. Marketmen said raising of bets 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.

CRUDE PALM OIL ( 09 - MAY - 2017 )

Crude palm oil prices were up by 0.38 per cent to Rs 496.30 per 10 kg in futures trade today as traders
created fresh positions, supported by pick up in demand at the spot market. Besides, a firming trend in
overseas markets too fuelled the uptrend. At the Multi Commodity Exchange, crude palm oil for delivery
this month rose by Rs 1.90, or 0.38 per cent, to Rs 496.30 per 10 kg, in a business turnover of 76 lots.
Similarly, the oil for delivery in June went up by Rs 1.60, or 0.33 per cent, to Rs 485.80 per 10 kg in 17 lots.

GUARGUM - ( 08 - MAY - 2017 )

Guargum prices spurted by Rs 82 to Rs 7,907 per quintal in futures trade as participants created fresh
positions, taking positive cues from the spot markets. Marketmen said the rise in guargum prices at futures
trade was mostly attributed to building up of fresh positions, driven by a firm trend at the spot markets and
pick up in demand amid fall in arrivals from growing belts. At the National Commodity and Derivatives
Exchange, guargum for delivery this month was trading higher by Rs 82, or 1.05 per cent, to Rs 7,905 per
quintal, having an open interest of 11,950 lots. Guargum for delivery in June was up by Rs 65, or 0.82 per
cent, to Rs 8,030 per quintal, in an open interest of 44,830 lots.

MENTHA OIL - 08 - May - 2017

Mentha oil prices drifted further lower by 1 per cent to Rs 909 per kg in futures trade today as speculators
engaged in reducing their positions amid sluggish demand in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in June fell by Rs 9.20, or 1 per cent, to Rs 909
per kg, in a business turnover of 35 lots. Similarly, the oil for delivery in May shed Rs 8.10, or 0.89 per cent,
to Rs 907 per kg in 135 lots. Analysts said offloading of positions by participants owing to slackened
demand from consuming industries in the spot market against adequate stocks position on increased supplies
from Chandausi in Uttar Pradesh mainly kept mentha oil prices lower at futures trade.

MAIZE RABI 08 - May - 2017

Maize rabi prices drifted lower by Rs 20 to Rs 1,302 per quintal in futures trading today after speculators
shrank their holdings amid a weak trend at the physical markets on subdued demand. Marketmen said
trimming of positions by participants, tracking a weak trend at the spot markets on low demand from poultry
feed makers, led to the fall in maize prices at futures trade. At the National Commodity and Derivatives
Exchange, maize for delivery this month dipped by Rs 20, or 1.51 per cent, to Rs 1,302 per quintal, in an
open interest of 170 lots. In a similar manner, maize for delivery for most-active June contracts fell by Rs 10,
or 0.76 per cent, to Rs 1,310 per quintal, having an open interest of 8,220 lots.

COTTON SEED OIL CAKE 08 - May - 2017

Cottonseed oilcake prices were higher by Rs 16 to Rs 2,025 per quintal in futures trading today after
speculators expanded their bets in line with a firming trend at the physical markets. Market players said
rising demand from cattle-feed makers amid limited stocks position at the physical markets, influenced
cottonseed oilcake prices at futures trade.

WHEAT 08 - May - 2017

Wheat prices moved up by 0.44 per cent to Rs 1,588 per quintal in futures market today as speculators
enlarged positions following pick up in demand at the spot market. At the National Commodity and
Derivatives Exchange, wheat for delivery in May went up by Rs 7, or 0.44 per cent, to Rs 1,588 per quintal,
with an open interest of 7,570 lots. Likewise, the wheat for delivery in June traded higher by Rs 5, or 0.31
per cent, to Rs 1,615 per quintal in 17,150 lots. Analysts said widening of position by traders due to upsurge
in demand from flour mills in the spot market mainly led to the rise in wheat prices at futures trade.

REFINED SOYA ( 08- May - 2017 )

Refined soya oil prices rose further by 0.49 per cent to Rs 627 per 10 kg in futures trade today as traders
engaged in enlarging their positions, taking positive cues from spot market on strong demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May went up by Rs
3.05, or 0.49 per cent, to Rs 627 per 10 kg, with an open interest of 23,090 lots. Likewise, the oil for delivery
in June was trading higher by Rs 2.15, or 0.34 per cent, to Rs 629.45 per 10 kg in 53,020 lots.
Analysts said expanding of positions by participants, driven by rising demand in the spot market against
tight stocks position on fall in supplies from producing belts, mainly kept refined soya oil prices higher at
futures trade.

CARDAMOM ( 08 - May - 2017 )

Cardamom prices strengthened by 0.24 per cent to Rs 1,074.70 per kg in futures market today as speculators
engaged in building up positions, tracking a firm trend at spot market on strong domestic as well as exports
demand. Besides, tight stocks position on fall in supplies from producing regions supported the upmove.
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