Mustard Seed on NCDEX settled up by 0.65% at 3896 tracking firmness in spot demand and overseas prices after prices remained under pressure on oversullply woes. Good weather and increase in minimum support prices (MSP), which attracted farmers to plant higher mustard, resulted into record crop of over 71.09 lakh tonnes, says industry body Solvent Extractors Association. Rapeseed-Mustard is the main oilseed crop for the Rabi season which is planted on more than 80% area covered under oilseeds. Rajasthan, Uttar Pradesh, Madhya Pradesh, Haryana and Gujarat are the highest sown states of mustard seed accounting for more than 70% of total mustard acreage in the country.

Crude palm Oil on MCX settled up by 0.66% at 517.1 tracking firmness in spot demand and overseas prices on rising exports and tracking stronger-performing soyoil in US and China. Palm oil shipments from Malaysia rose 20-25 percent between April 1-10 from the corresponding period last month, according to cargo surveyor data on Monday However, the data from the MPOB showed end-stocks for March rose 6.5% from February to 1.55 mt. Output surged 16.3% to 1.46 mt, the first monthly gain since September and the strongest month-on-month rise in over a year. There is expectation of higher stock levels of edible oil in the country as oilseed crushing is going on in full swing. Moreover, government lowered the base import price of CPO by $6 to $747 per tonnes for 1st half of April.

Ref.Soyaoil on NCDEX settled up by 0.48% at 624.5 on buying at lower level amid hopes of higher demand for soymeal in export marker. Export demand for Indian soymeal may rise as meal is disparity of $35 per tons as compared to Argentine soymeal. Large supply estimate of South America with good Indian oilseeds crop led the domestic soyoil price under pressure. According to trader, inventories with traders and stockiest is sufficient and they have opted to buy as per requirements to cater retail demand. Meanwhile, government lowered the base import price of crude soyoil by $21 to $784 per tonnes for first half of April which may pressurize edible oil. There is expectations of bumper oilseeds output and higher availability of edible oil in the country.

Soyabean on NCDEX settled up by 1.47% at 2961 on account of lower arrivals in the mandis due to hoarding by farmers and demand hopes also supporting prices. Though, the soybean market is struggling under the pressure of a global supply glut. Soybean arrivals in local mandis during March fell by 23% compared to previous month as farmers were reluctant to sell crops at lower prices, said the Soybean Processors Association of India. Arrivals during March fell to 500,000 tons as compared to 650,000 tons in February. Soybean crushing has also dropped to 650,000 tons as compared to 700,000 tons in the same period a month ago, SOPA said in its Estimated Supply & Demand of Soybean and Soybean Meal till March press release.

Mentha oil on MCX settled up by 0.58% at 983.8 amid pick-up in demand in the domestic spot market. Further, tight stocks due to fall in arrivals from Chandausi too led to the rise in mentha oil prices. However upside seen limited on speculation that the area under cultivation can increase this year resulting good production. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes. Unfavourable weather conditions during harvesting period led to the drop in production. On the demand side, the seasonal demand emerges during winter season, especially from the pharma sector. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year.

Aluminium on MCX settled down -1.13% at 122.35 tracking LME prices amid impatience over the lack of details around Trump's plans for infrastructure Aluminium stocks held in LME-registered warehouses fell to their lowest since late 2008, exchange data showed. China's aluminium makers are expected to step up exports in coming months as a healthier global manufacturing climate and declining world stockpiles boost demand, traders and analysts said. Higher exports of semi-manufactured aluminium could dampen London Metal Exchange (LME) aluminium prices, which have surged nearly 14 percent this year, as well as stoke global trade tensions.

Nickel on MCX settled down -1.52% at 628.40 tracking weakness in LME nickel ended the day down 1.1 percent at $9,735 a tonne as a tentative recovery in broader financial markets lost steam, with geopolitical tensions and fading hopes of a boost to U.S. demand putting pressure on prices. Meanwhile sentiments still remain robust after the news update that the two biggest nickel miners in the Philippines, Nickel Asia Corp and Global Ferronickel Holdings Inc, said prices for the metal would be robust this year due to growing demand from China. The Philippines is the world's top supplier of nickel ore, used to help make stainless steel, with China its No.1 market.

Zinc on MCX settled up 1.27% at 168.1 on short covering after prices dropped recently as data showed Chinese mine supply surged by nearly a fifth last year. The global zinc market moved into a surplus of 19,800 tonnes in February from a deficit of 22,300 tonnes in January, data from ILZSG showed. In the first two months of the year, the zinc market was in a deficit of 2,000 tonnes versus a surplus of 44,000 tonnes in the same period last year. Zinc continues to see plenty of sellers lined up on every rally amid increasingly aggressive CTA selling and ongoing long liquidation. Chinese consumer prices weakened further in March, but were little changed compared to a year ago, while producer prices rose at a steady pace.

Copper on MCX settled down -2.55% at 363.75 shrugging off a tentative recovery in the broader financial markets as geopolitical tensions and fading hopes for a boost to U.S. demand pressured prices. Copper has faltered after BHP Billiton restarted production in Chile last week and Freeport McMoRan said it was waiting for final details on a temporary export permit in Indonesia. Concerns over supply disruptions had sent the metal to a 1-1/2 year high of $6,204 in mid-February. The discount of LME cash copper to the three-month contract was at $32 a tonne, close to the biggest in four years, indicating adequate supply of refined metal in the market. Union representatives and executives from miner Southern Copper in Peru failed to reach an accord to end an indefinite strike, the union said.

Naturalgas on MCX settled up 1.37% at 206.70 on short covering while trader are caution for recent move as over the near term this gains are questionable, given the upcoming weather forecast, ahead of the weekly US Energy Information Administration natural gas storage report. According to natgasweather.com, much of the country will experience comfortable highs of 50’s to 80’s through next week. There will still be numerous weather systems impacting the country daily, but, there is not much cold air associated with each system. As far as highs today, the East Coast will be quite pleasant with 70’s to even lower 80’s, including into major Northeast cities like Washington D.C. and NYC. The net result is light national demand the next several days.

Crudeoil on MCX settled down -0.12% at 3444 as prices gave back some of its gain on some ground in yesterday session tracking weakness from NYMEX Crude which slid by $0.29 to settled at $53.11 a barrel after reaching a one-month high of $53.76 a barrel as traders cashed in on the recent strength despite a report from the EIA showing an unexpected drop in crude oil inventories. Yesterday the US EIA early Wednesday reported that domestic crude supplies fell by 2.2mbls for the week ended April 7, after climbing in each of the previous three weeks. Crude stockpiles have only posted two weekly declines this year to date, according to EIA data. While a day earlier the API late Tuesday reported a 1.3mbl decline, according to sources.

Silver settled flat after prices seen supported as heightened geopolitical tensions underpinned safe haven demand for the precious metal. Investors continued to play it safe as concerns over U.S. military action against Syria and North Korea along with worries over the French presidential election. Risk-off sentiment has boosted to demand for traditional safe-haven assets including bullion, as investors sought refuge from the recent market volatility amid increased geopolitical concerns. U.S. – Russia relations remained in the political spotlight, as U.S. Secretary of State Rex Tillerson was expected in Moscow on Wednesday to meet with his Russian counterpart Sergey Lavrov and discuss a number of sensitive topics including the Korean peninsula, Syria and bilateral relations.

Gold on MCX settled up 0.12% at 29229 as the dollar reversed losses and political tensions simmered, leaving investor interest in safe havens like the precious metal largely intact. The U.S. dollar took a heavy hit after President Donald Trump told the Wall Street Journal the dollar "is getting too strong" and that he would prefer the Federal Reserve to keep interest rates low. Meanwhile, tensions continued over the United States' relationship with Russia over Syria and in the Korean peninsula, while worries about the upcoming French presidential election also kept investors nervous.

Cotton on MCX settled up by 0.58% at 20770 on supply concerns as output is expected to fall in the domestic market. India's cotton productivity has dropped in recent years owing to worm infestations hurting quality of the crop. Cotton output in the domestic market is expected to slip to 34.2-34.6 million bales in 2016-17 according to estimates of Southern Indian mills Association from 39.8 million bales in 2013-14. Additionally, in 2017-18, mills consumption is seen at 30.1 million bales, marginally higher from 2.99 million bales in 2016-17. However, exports are seen rising to 5.8 million bales from 5 million bales. Chinese cotton imports will remain suppressed next season, as the government continues to draw down on cotton stocks, while production recovers, US officials said.

Cardamom on MCX settled down by -2.89% at 1240.2 due to lack adequate support from stockists amid reports of higher supplies of imported variety. Prices are unlikely to improve in the coming week due to accumulation of imported stocks. Arrivals at the auction centres continued to shrink as the season has come to an end and number auctions have been cut in the absence of sufficient quantity. India exported 3,000 ton cardamom during Apr-Dec down from 3,825 on a year ago, data from Spices Board showed. Supply continued to show a shrinkage following the continued dry spell. Harvesting is nearly complete and hence arrivals are unlikely to pick up. Exporters and north Indian dealers have slowed down because of the higher prices.

Maize on NCDEX settled up by 1.17% at 1471 tracking firmness in spot demand despit of losses in overseas on expectations of further increases in South American production. Farmers may harvest at an estimated 14.32-million tonnes of maize in 2017‚ which represents the third-biggest maize crop on record. Favourable weather conditions have enabled producers to increase the area planted to summer crops‚ with maize output now expected to be 84% higher in 2017 than in 2016. In its second estimate for the year on Tuesday‚ the Crop Estimates Committee said it had revised the maize output estimate by 2.91% from the first estimate.

Jeera on NCDEX settled up by 0.39% at 19190 in the wake of reports of fall in output in both Gujarat and Rajasthan. Gujarat government has estimated lower output this year due to adverse weather while there were reports rains during March in some parts of Rajasthan, which have impacted jeera crop. Daily jeera arrivals have been rising in the markets of Gujarat. Due to higher prices last year, production across Turkey, Syria, China, Pakistan and Afghanistan is expected to increase, the report said. India's Apr-Dec jeera export jumped 35% to 91,000 ton from 67,300 ton a year ago on the back of higher demand from China and Bangladesh. India imported around 2,550 ton jeera during Apr-Oct as against negligible in the previous year.

Turmeric on NCDEX settled down by -0.22% at 6264 due to rising arrivals on the back of increased output. Demand from stockists and masala manufacturers remained weak as they are expecting prices to decline further in view of bumper crop. India's Apr-Dec turmeric export 25% to 85,500 ton on year. Last year, India exported 68,500 ton in the same period. In the Delhi spot market turmeric single polish gattha was traded weak at Rs 7,300-7,400 per quintal on weak demand. Turmeric farmers and traders have been hit hard by poor sales during peak season. Many traders and farmers expected good sales of turmeric during the peak period, which started a month ago.

Mustard Seed on NCDEX settled down by -0.59% at 3869 tracking weakness in sprot demand on higher supply. Prices of seed will be down as Solvent Extractors Association of India hiked its output forecast for 2016-17. India's mustard output in 2016-17 is estimated at 7.2 million tons (including 120,000 tons of taramira and toria), up from 5.8 million tons a year ago as favourable weather led to better yield, the SEA of India reported citing a data on a field survey conducted by Neilsen India. India's mustard output in 2016-17 is estimated at 7.2 million tons (including 120,000 tons of taramira and toria), up from 5.8 million tons a year ago as favourable weather led to better yield, the SEA of India reported citing a data on a field survey conducted by Neilsen India.

Crude palm Oil on MCX settled down by -1.74% at 512.6 tracking weakness in spot demand and overseas prices on hope of recover in Malaysian palm oil output. Prices of the oil will be down as Malaysia Palm Oil reserves are expected to rise during March month. Inventories are expected to rise by 4.1% to 1.52 million tons in March as compared to previous month while production estimated to increase by 9.5% to 1.38 million tons from February. Palm oil refiners in Malaysia are boosting purchases of Indonesian crude palm oil to meet festive demand as there is tight local supply. After a year of tight market balances, there is widespread expectation of augmented production around the world, modest demand growth and gradually expanding inventory.