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COMMODITY MARKET UPDATE NEWS

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Silver trading range for the day is 41719-42623.Silver prices gained as investors scaled back expectations for a more aggressive pace of rate hikes from the Federal Reserve this year.Support also seen as greenback has been under pressure amid growing concern about the potential impact of the Trump Administrations protectionist stance.The U.S. economy added 227,000 jobs in January from the prior month, the Labor Department while the unemployment rate ticked up to 4.8% from 4.7% in December.

 

Soyabean trading range for the day is 3057-3129.Soyabean prices ended with losses on expectations of ample supply in the domestic spot market.IGC raised its soybean production forecast for India, to 11.5 million tons compared to 8.6 million tons estimated for 2015-16.NCDEX accredited warehouses soyabean stocks gained by 636 tonnes to 187852 tonnes.At the Indore spot market in top producer MP, soybean remains unchanged at 0 Rupees to 3070 Rupees per 100 kgs.

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