Oil edges up on smaller US output growth estimates
Brent crude futures rose 38 cents, or 0.5%, to $78.97 a barrel as of 0013 GMT, while U.S. West Texas Intermediate crude climbed 41 cents, or 0.6%, to $73.72. Both contracts had gained slightly on Monday.
When trading in commodities, learn to think out of the box
While conventional sources of information have their place in analysing price trends, unconventional sources can prove to be equally useful
Agri Picks Report February 06, 2024: Geojit
According to Geojit, The area under rabi crops in Telangana was 4.93 mln acres (1 acre = 0.40 ha) as of Wednesday, 13.4% lower than 5.70 mln acres a year ago, according to data from the state government.
Gold prices under pressure as U.S. jobs data dampens bets of Fed rate cut | Commodities Corner
On Monday, gold prices experienced a decline as the U.S. dollar and Treasury yields surged following a strong jobs report that dashed expectations of imminent interest rate cuts from the Federal Reserve. At 0556 GMT, spot gold was down 0.5% at $2,029.03 per ounce, while U.S. gold futures fell 0.4% to $2,045.50 per ounce. Catch Manisha Gupta with more details
Agri Picks Report February 05, 2024: Geojit
According to Geojit, The area under rabi crops across the country was 70.93 mln ha as of today, marginally higher than 70.91 mln ha a year ago, according to final area under coverage data from the Ministry of Agriculture and Farmers Welfare.
Oil prices to remain highly volatile, posing potential threat to global supply
As geopolitical tensions in the Middle East continue to simmer, oil prices are expected to remain highly volatile, posing a potential threat to global supply.
Gold set for best week in 9 as dollar softens ahead of US data
Other precious metals were also trading flat, with spot silver at $23.18 per ounce, platinum at $913.18, and palladium at $962.50.
Gold heads for best week in 7 ahead of US jobs data
Spot gold was flat at $2,053.09 per ounce by 0211 GMT. Still, the contract has climbed 1.8% so far this week, set for its best weekly gain since late-December, if gains hold.
Agri Picks Report February 02, 2024: Geojit
According to Geojit, Farmers in Andhra Pradesh have sown rabi crops over 1.39 mln ha as of Jan 31, down 14.5% from 1.63 mln ha a year ago, according to state government data.
Agri Picks Report February 01, 2024: Geojit
According to Geojit, The area under rabi crops in Maharashtra fell 4.8% on year to 5.68 mln ha as of Monday, according to data published by the state agriculture department.
Oil edges up on US Fed rate signals, China property sector support
Brent crude futures rose 46 cents, or 0.6%, to $81.03 a barrel and U.S. West Texas Intermediate crude futures gained 47 cents, or 0.6%, to $76.33 at 0140 GMT, after falling by more than $2 a barrel in the previous session.
Interim Budget 2024: Commodities market expectations from FM Nirmala Sitharaman | Commodities Corner
With the Union Budget 2024 just around the corner, all eyes are on the Finance Minister Nirmala Sitharaman's ‘bahi khata’ to see what it holds for commodities sector. Will this budget provide relief to farmers and agriculture sector.. Catch Manisha Gupta as she breakdowns what commodities market expect from upcoming Budget 2024.
Agri Picks Report January 31, 2024: Geojit
According to Geojit, The government of Gujarat released final data of rabi acreage for 2023-24 season Monday. According to the data, the area under rabi crops in the state stands at 4.60 mln ha in the current season, up 2.9% from 4.47 mln ha last year.
Oil ticks down in Asian trade despite rising Middle East tensions
March Brent crude futures, which expire on Wednesday, rose 47 cents to settle at $82.87 a barrel. The more active April contract settled up 67 cents at $82.50.
Will this interim budget focus on Agritech and rural development? Commodities Corner
The government is likely to significantly enhance allocation for key farm sector schemes and push credit in the interim Budget to boost rural economy as growth in the agriculture sector is projected to decelerate to 1.8% in 2023-24 from 4% a year ago. Finance Minister Nirmala Sitharaman is scheduled to present the interim Budget on February 1, which will be the last major economic document of the Narendra Modi-led government ahead of the 2024 Lok Sabha elections. Catch Manisha Gupta in conversation with Chattanathan D, co-founder Arya.ag.
Agri Picks Report January 30, 2024: Geojit
According to Geojit, India's soymeal exports fell 47% on year in December to 125,000 tn, the Soybean Processors Association of India said today.
Oil edges up as geopolitical concerns support prices
Brent crude futures rose 25 cents, or 0.3%, to $82.65 a barrel by 0105 GMT. U.S. West Texas Intermediate crude was up 31 cents, or 0.4%, at $77.09 a barrel.
Union Budget 2024: Expectations from Agriculture sector | Commodities Corner
The Finance Minister Nirmala Sitharaman will make the interim budget announcement on February 1. What are the expectations of the pulses sector from the budget? Some are, increased allocation of ₹1000 crore funds for subsidies for cold storage infrastructure development. To know more about the budget expectations from the pulses sector watch this edition of Commodites Corner with Manisha Gupta and Deepak Pareek, Founder, HNYB tech incubation.
Safe-haven gold gains as Middle East worries mount
Spot gold was up 0.4% at $2,025.99 per ounce by 0403 GMT. U.S. gold futures also rose 0.4% to $2,025.20.
Oil climbs as tensions escalate in Middle East
Risks of a widening conflict comes as Russian refined product exports are set to fall, with several refineries under repair following drone attacks.
Agri Picks Report January 29, 2024: Geojit
According to Geojit, The area under rabi crops in Telangana stood at 4.22 mln acres as of Wednesday, 8% lower than 4.60 mln acres a year ago, according to data from the state government.
Oil jumps 1% after Houthis attack on fuel tanker in Red Sea
Brent crude futures climbed 83 cents to $84.38 a barrel by 2341 GMT after hitting a session-high of $84.80. U.S. West Texas Intermediate crude rose 78 cents to $78.79 a barrel.
Central bank meetings and US economic indicators spark uncertainty in commodity markets
Commodity market participants will carefully scrutinize policy guidance by Federal Reserve next week.
Oil prices ease in early trading; set to post weekly gains
Brent crude futures eased 32 cents, or 0.39%, to $82.12 a barrel by 01:15 GMT. U.S. West Texas Intermediate crude fell 41 cents, or 0.5%, to $76.95.
India’s steel majors seeking govt intervention to control raw materials prices | Commodities Corner
India’s Steel Majors Are Seeking Govt Intervention To Control Raw Materials Prices. Mills has flagged issues in the price discovery process of coking coal by international players and has reportedly asked the government to push for a “more realistic” price discovery mechanism. Steel makers, through the Indian Steel Association (ISA) – which includes AM/NS India, JSW, Tata Steel, Jindal Steel & Power and PSUs like SAIL and RINL – have called for intervention and action across two key price indexes, namely Platts and Argus Indexation which “remain subjective” in determining coking coal price. Catch Manisha Gupta in conversation with Dhruv Goel, CEO, Big Mint
