U.S. industrial production rose more than expected in July, according to Federal Reserve datareleased on Tuesday. The Labor Department said on Tuesday that the flat reading in its Consumer Price Index was

2. MCX DAILY LEVELS✍
DAILY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 31 AUG 2016 116 115 114 113 112 111 110 109 108
COPPER 31 AUG 2016 328 326 324 322 320 318 316 314 312
CRUDE OIL 19 AUG 2016 3160 3140 3120 3100 3080 3060 3040 3020 3000
GOLD 05AUG 2016 31700 31600 31500 31400 31300 31200 31100 31000 30900
LEAD 31 AUG 2016 128 127 126 125 124 123 122 121 120
NATURALGAS 26 AUG 2016 180 179 178 177 176 175 174 173 172
NICKEL 31 AUG 2016 721 714 707 700 693 686 679 672 665
SILVER 05 SEP 2016 46800 46700 46600 46500 46400 46300 46200 46100 46000
ZINC 31 AUG 2016 155 154 153 152 151 150 149 148 147
MCX WEEKLY LEVELS✍
WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 31 AUG 2016 119 117 115 113 111 109 107 105 103
COPPER 31 AUG 2016 331 328 325 322 319 316 313 310 307
CRUDE OIL 19 AUG 2016 3190 3160 3130 3100 3070 3040 3010 2980 2950
GOLD 05AUG 2016 32000 31800 31600 31400 31200 31000 30800 30600 30400
LEAD 31 AUG 2016 131 129 127 125 123 121 119 117 115
NATURALGAS 26 AUG 2016 183 181 179 177 175 173 171 169 167
NICKEL 31 AUG 2016 745 730 715 700 685 670 655 640 625
SILVER 05 SEP 2016 47100 46900 46700 46500 46300 46100 45900 45700 45500
ZINC 31 AUG 2016 158 156 154 152 150 148 146 144 142
Wednesday, 17 August 2016

3. WEEKLY MCX CALL
BUY NATURAL GAS AUG ABOVE 178 TGT 186 SL 173
PREVIOUS WEEK CALL
SELL ZINC AUG BELOW 150 TGT 147 SL 153 - NOT EXECUTED
BUY NATURAL GAS AUG ABOVE 190 TGT 196 SL 184.30 - NOT EXECUTED
FOREX DAILY LEVELS✍
DAILY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 29 AUG 2016 67.60 67.40 67.20 67 66.80 66.60 66.40 66.20 66
EURINR 29 AUG 2016 76.20 76 75.80 75.60 75.40 75.20 75 74.80 74.60
GBPINR 29 AUG 2016 87.90 87.60 87.30 87 86.70 86.40 86.10 85.80 85.50
JPYINR 29 AUG 2016 67.60 67.40 67.20 67 66.80 66.60 66.40 66.20 66
FOREX WEEKLY LEVELS✍
DAILY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 29 AUG 2016 67.90 67.60 67.30 67 66.70 66.40 66.10 65.80 65.50
EURINR 29 AUG 2016 76.50 76.20 75.90 75.60 75.30 75 74.70 74.40 74.10
GBPINR 29 AUG 2016 88.20 87.80 87.40 87 86.60 86.20 85.60 85.20 84.70
JPYINR 29 AUG 2016 68.10 67.70 67.40 67.10 66.80 66.50 66.20 65.90 65.60
WEEKLY FOREX CALL
SELL JPYINR AUG BELOW 66.50 TGT 66 SL 67
PREVIOUS WEEK CALL
BUY GBPINR AUG ABOVE 88.30 TGT 89.30 SL 87.33

4. NCDEX DAILY LEVELS✍
DAILY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19 AUG 2016 671 669 667 665 663 661 659 657 655
SYBEANIDR 20 OCT 2016 3520 3500 3480 3460 3440 3420 3400 3380 3360
RMSEED 19 AUG 2016 4900 4880 4860 4840 4820 4800 4780 4760 4740
JEERAUNJHA 19 AUG 2016 18700 18600 18500 18400 18300 18200 18100 18000 17900
NCDEX WEEKLY LEVELS✍
WEEKLY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19 AUG 2016 674 671 668 665 662 659 656 653 650
SYBEANIDR 20 OCT 2016 3540 3510 3480 3450 3420 3390 3360 3330 3300
RMSEED 19 AUG 2016 4960 4920 4880 4840 4800 4760 4720 4690 4650
JEERAUNJHA 19 AUG 2016 19000 18800 18600 18400 18200 18000 17800 17600 17400
WEEKLY NCDEX CALL
BUY RM SEED SEP ABOVE 4870 TGT 4950 SL 4819
PREIOUS WEEEK CALL
SELL COCUDAKL SEP BELOW 2540 TGT 2480 SL 2603 - TGT ACHEIVED
BUY JEERA SEP ABOVE 19670 TGT 20240 SL 18990 - NOT EXECUTED

5. MCX - WEEKLY NEWS LETTERS
GLOBAL UPDATE✍
 U.S. industrial production rose more than expected in July, according to Federal Reserve data
released on Tuesday.
 The Labor Department said on Tuesday that the flat reading in its Consumer Price Index was
the weakest since February and followed two straight monthly increases of 0.2 percent. In the 12
months through July, the CPI rose 0.8 percent after increasing 1.0 percent in June. 
 U.S. housing starts unexpectedly rose in July as building activity increased across the board,
supporting the view that investment in residential construction will rebound after slumping in the
second quarter.
 The American currency declined 0.9 percent on Tuesday and slid to a seven week low as data
showed flat inflation in July, underscoring the Federal Reserve’s case for leaving interest rates on hold.
Further downside was restricted as the influential New York Fed President William Dudley reminded
investors that a September rate increase is still on the table
BULLION✍
Gold edged lower on yesterday as hawkish comments from US Federal Reserve officials raised bets on
a rate hike this year, with traders waiting for minutes from the last Fed policy meeting for more
clues. New York Fed President William Dudley said a rate hike in September was possible, while
Atlanta Fed President Dennis Lockhart said the US economy is likely strong enough for at least one
rate increase before the end of 2016, with two a possibility. U.S. consumer prices were unchanged in
July as the cost of gasoline fell for the first time in five months and underlying inflation moderated,
while U.S. housing starts unexpectedly climbed and industrial production rose more than forecast in
the same month. Federal funds futures fell in the wake of comments from New York's Dudley, who
said the U.S. central bank could possibly raise interest rates in September if the economy improves
further. This suggested that traders saw a 55 percent chance for the Fed to raise rates in December, up
from 42 percent on Monday. Atlanta Fed President Dennis Lockhart later said the U.S. economy is
likely strong enough for at least one interest rate increase before the end of 2016, However, recent
positive data from the US only raised confusion regarding the timing of interest rates. U.S. factory
production increased in July while home construction unexpectedly accelerated to the fastest pace in
five months. Earlier, the Commerce Department said Friday, U.S. retail sales were flat in July,
disappointing forecasts for a 0.4% rise. Besides, July producer price index showed a decline of 0.4%,
the largest drop since September 2015. Also, data showed Japan’s economy nearly stalled in the second
quarter, growing by an annualized 0.2% from April through June.

6. ENERGY✍
The dollar's tumble to an eight-week low also supported crude prices, as did the loss of more than
700,000 barrels per day (bpd) in Nigerian output to militant attacks and pipeline problems. The
Organization of the Petroleum Exporting Countries will probably revive talks on freezing oil output
levels when it meets non-OPEC nations next month, OPEC sources told Reuters, citing Saudi Arabia's
wish for higher prices. Russian and OPEC energy officials discussed oil markets at a meeting in
Vienna, Russia's Energy Ministry said. Another "energy dialogue" between Russia and OPEC has been
scheduled there for October. Prices pared some gains in after market trade after data from the
American Petroleum Institute showing an unexpected draw in U.S. crude stockpiles was overshadowed
by surprise hefty builds in gasoline and distillates, indicating the glut in refined oil products was
growing. Many analysts were skeptical producers would cut a deal. An OPEC production freeze plan
in April was scuttled by a Saudi Arabia that was keen then to protect market share.Oil prices jumped
the most in a month, rising more than 4 percent last week, after comments from the Saudi oil minister
about possible action to stabilize prices triggered a round of buying and the International Energy
Agency forecast crude markets would tighten in the second half of 2016. According to the weekly
American Petroleum Institute (API) report U.S. crude oil inventories are down just over 1 million
barrels for the week ended 12 August, , but U.S. gasoline inventories are up over 2 million barrels in
the biggest increase in six months. However, sharp upside was capped as the oil minister of Nigeria,
another OPEC member, said Monday that a deal within the 14-country group is unlikely next month.
Natural gas advanced partially in sympathy with stronger oil prices after forecasts for
milder temperatures, Jim Ritterbusch of Chicagobased oil markets consultancy Ritterbusch &
Associates said in a note. He added that buying interest was constrained by cooler temperature trends
that were beginning to stretch toward the end of August. Such weather usually translates to reduced
need for air conditioning, meaning also less burning of gas for power consumption
BASE METAL✍
Besides, Chile’s Codelco, the world's top copper miner, may soon change its focus from cost
reductions to output cuts, as the stateowned miner faces what its chief executive called the “worst
crisis ever” since created in 1976. However, sharp upside was capped as weak data from the US and
China remains a cause of concern. China’s fixed asset investment (FAI) for the January-to-July period
rose 8.1 percent, marking the slowest growth since 1999. Copper eased by 0.25 per cent to Rs 320.40
per kg in futures trade today today as traders trimmed positions amid sluggish demand at the domestic
spot markets. At Multi Commodity Exchange, copper for delivery in August month declined by 80
paise, or 0.25 per cent to Rs 320.40 per kg in business turnover of 870 lots. Similarly, the metal for
delivery in November contracts shed 70 paise, or 0.21 per cent to Rs 326.80 per kg in 26 lots

7. NCDEX - WEEKLY NEWS LETTERS
 The fourth low-pressure area in a series in the Bay of Bengal has intensified a round and is
forecast to become a depression by Wednesday. This is the second successive time that a monsoon
depression will take shape in the Bay; the preceding one had gone on to become a deep depression to
preside over heavy rainfall in East and Central India. The busy state of theBay from early this month
indicates strong monsoon conditions but the gains are accruing only for the northern half of the
country. According to India Met Department, yet another low-pressure area might materialise over the
Bay in another five days (around August 20) that will sustain the monsoon over East and Central India.
But the southern half might continue to suppressed rain conditions since, like in all preceding cases,
the rain-driving ‘low’ will be located too far away for comfort. The Australian Bureau of Meteorology
attributed this to the displacement from the Indian Ocean region of the Madden-Julian Oscillation
(MJO) wave towards the North-West Pacific/South China Sea. (Source: HBL)
 The Western India Sugar Mills Association (WISMA) has appealed to the Centre to intervene
and restore the exemption granted earlier on the levy on ethanol in the interests of the sugar industry.
In a representation sent to the chairman of the Central Excise and Customs, the association has
objected to the withdrawal of the exemption since this would have an impact on the committed
supplies for the industry producing ethanol from molasses generated from cane crushed in the sugar
season of 2015- 16. The exemption was issued by the Central Excise and Customs in June 2015.
(Source: FE)
SOYABEAN✍
The Soybean Processors Association of India (SOPA) has urged the Narendra Modi government to
increase duty on imported crude soybean oil to 37.5% and 45% on refined soybean oil, which is the
WTO bound rate. This will check large scale import of cheap soybean oil and enable the domestic
industry to start soybean meal exports again. It will also encourage soybean and other oilseed growers,
the association feels. In a letter to the Prime Minister, SOPA chairman Davish Jain has said that the
soybean processing industry has been going through one of its toughest periods for the last 3 years and
many of the units have had to close down. The major reason for this is large scale import of cheap
edible oils including soybean oil at low rate of duty which has pushed up our prices of soybean meal
and made us uncompetitive in the world market.As on 12 Aug, Indian farmers have planted soybean
on 112.3 lh, up by 0.3% compared to last year sowing data. Soybean sowing is now nearing an end,
and total acreage this year is likely to remain around last year's level of 116 lh, despite the sharp drop
in sowing Madhya Pradesh and Rajasthan. In Madhya Pradesh, acreage was lagging 8.1% on year,
while in Rajasthan; it was lagging by 7.3%, as farmers had switched to pulses and other crops but
acreage increase in Maharashtra and Gujarat. U.S. soybean prices fell pressured by good weather and
signs the U.S. oilseed crop remains in prime health. There is a forecast of beneficial rains for the U.S.

8. Midwest this week and later in the month as the crop continues to set pods. The U.S. Department of
Agriculture on Monday said 72 percent of the soybean crop was in good to excellent condition, steady
from a week ago and above last year's 63 percent.
JEERA✍
In the benchmark Unjha market in Gujarat, jeera was sold for 19,100 rupees per 100 kg, down from
Saturday. •Stocks of jeera in NCDEX warehouse as of 16th Aug 2016 increased from previous day to
5903 tonnes and 60 tonnes are in process.The export demand has not picked up as expected by the
market participants. There is good demand from China and other countries and may improve as the
prices have now dropped. In the next few months, the prices will depend on export demand.
{{ According to Dept of Commerce, the exports of Jeera in the first two month of 2016-17 increased
by more than 82.5% at 33,908 tonnes compared to last year same time. As per the trade sources,
India's jeera exports rose nearly 25% to around 50,000 tonnes in Apr-Jul from 40,000 tn in the year-
ago period due to good demand from China and Bangladesh. China imported 1,500-1,700 tn jeera in
last 15 days. As per 4thadvance estimate of Gujarat State for 2015-16, production is pegged at 2.38 lt
compared to 1.97 lt in 2014-15. In 2013-14, production was 3.46 lt.
TURMERIC✍
Despite a fall in turmeric arrivals, the spot prices fell due to subdued demand from stockists. In
Telangana, the bulb variety was sold in the range of 7,500-7,700 rupees per 100 kg, while the finger
variety sold in the range 7,800-8,000 rupees, both down from Friday. Arrivals of turmeric in
Nizamabad were estimated at 1,800 bags, (1 bag =70 kg), down from Friday. •In Erode, the bulb
variety was sold in the range of 7,800-8,000 rupees per 100 kg, while the finger variety was sold in a
range of 7,900-8,100 rupees, both down from Friday. Arrivals of the spice in Erode were down at
3,500 bags, compared with Friday. Turmeric acreage in Telangana as on 10 Aug was up 14 % at
43,000 hectares as compared to 38,000 hectares last year. Area in AP also higher by more than 5%.
The acreage of turmeric is higher compared to normal in both states. As per dept of commerce data,
turmeric exports in April- May 2016 increased by 31% compared to last year at 21,256 tonnes. In
2015-16, 85,426 tonnes exported compared to 90,738 tonnes in 2014-15. Major export destinations in
2015-16 are Iran, Malaysia, UAE, USA and Srilanka. The arrivals in the main physical markets such
as Nizamabad, Duggirala (AP), Salem, Erode and Sangli reported decreasing. There is expectation of
lower arrivals and good upcountry demand may lend support in coming weeks
CORIANDER✍
Coriander futures traded higher due to short covering. The most active September coriander contract
ended at 7,869 rupees per 100 kg, up 0.36% from the previous close. •However, prices of coriander

9. were flat in the spot markets of Rajasthan as demand from bulk buyers remained sluggish. •Badami
quality of coriander was sold at 7,750 rupees per 100 kg in Ramganj, one of the major trading centres,
while the eagle variety was quoted at 8,000rupees. •Coriander arrivals in the major spot markets of
Rajasthan were pegged at 8,000 bags (1 bag = 40 kg) today, up from 6,000 bags on Saturday. •Total
stocks of coriander in exchange accredited warehouse as of 16th Aug 2016 increased from previous
day to 6543 tonnes and 825 tonnes are in process.
As per trade source, farmers are staying away from sowing coriander due to record high prices in other
crop such as chana and jeera. Still, probability arise for coriander acreage to increase to 1,35,000 ha
this rabi season from 1,25,000 ha a year ago, due to better monsoon rains. However, PVO Analysis
implies short covering.

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