Ripples Advisory News Update's

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Ref.Soyaoil on NCDEX settled down by -1.18% at 684.8 tracking weakness in spot demand on higher supply. Moreover, expectation of higher output during the current rabi season were also dragged the prices. Last week, the Solvent Extractors' Association of India (SEA) has raised its estimate for soybean output to 11 million tons in 2016-17 (Jul-Jun) from its previous forecast of 10.6 million tonnes. USDA Feb estimate kept the ending stock of US tad higher at 760,000 tons compared to 750,000 tons. 

Export of soyameal and its value-added products have recorded a staggering growth of 446.38 per cent this year, according to the Soyabean Processors Association of India (SOPA). Exports during January were pegged at 1,55,164 tonnes compared to 22,398 tonnes in January 2016. On a financial year basis, total exports from April 2016 to January 2017 were recorded at 6,01,294 tonnes (3,30,702 tonnes).

At the Indore spot market in Madhya Pradesh, soyoil was steady at 700 Rupees per 10 kgs.Technically market is under fresh selling as market has witnessed gain in open interest by 6.68% to settled at 52520, now Ref.Soya oil is getting support at 681 and below same could see a test of 679 level, And resistance is now likely to be seen at 688, a move above could see prices testing 693.     

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Mentha oil futures rose over 1 per cent during morning trade in the domestic market on Monday as investors and speculators build up fresh bets in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market. 

At the MCX, mentha oil futures for February 2017 contract is trading at Rs 1040.30 per kg, up by 1.26 %, after opening at Rs 1029.70, against the previous closing price of Rs 1027.40. It touched the intra-day high of Rs 1044.30.

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Menthaoil trading range for the day is 1020.9-1036.1.Mentha oil spot at Sambhal closed at 1145.60 per 1kg. Spot prices was up by Rs.1.70-.Mentha oil prices dropped amid muted demand in the domestic spot market.Further, ample stocks position on higher supplies from producing belts of Chandausi in Uttar Pradesh, too added pressure on mentha oil prices.Pressure also seen on speculation the area under cultivation can incerese this year resulting good production. 

Silver trading range for the day is 41432-43318.Silver prices gained as an improving China signals a better global economy and gives support to the more industrial metals.The preliminary report from US showed that the consumer sentiment index dropped to 95.7 in February from the final January reading of 98.5.U.S. import prices rose more than expected in January, while initial jobless claims dropped unexpectedly last week to the lowest in nearly 43 years.

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Silver  was up 1.5 % at $17.91 an ounce, after tapping $17.99, the highest since Nov. 11. Palladium  rose 1.6 % to $782, after rising to $786.40, the highest since Jan. 25. 

silver and palladium are up on the day as an improving China signals a better global economy and gives support to the more industrial metals of the group," said aid Miguel Perez-Santalla, vice president of Heraeus Metal Management in New York.