Being a long time currency and “commodities” trader, I long forgot my roots, when I was busy looking at orange juice futures and pork bellies. There was corn and wheat, and cattle, of course there were always the interesting, gasoline and coffee and cocoa. Years ago, commodities also included gold, silver, crude oil and natural gas and today they are still considered commodities, but have moved into a world of their own, currency traders have adopted them and they are offered on most Forex platforms.
But we all seem to live in our own little spheres, rarely venturing out to see what others see or look at, or what they deal with on a daily basis.
Recently, I came across a news letter from an Indian broker, on agricultural, I assumed it was the standard wheat, corn, soybeans that are traded globally, when I had a minute I opened the newsletter, and I must say I enjoyed reading it. Many of the spices listed, I have never heard of, many of the items I had didn’t even realize were traded, I only remember them on labels in the grocery store.
I thought I would share them with my readers as a point of interest and enjoyment and a moment away from the pressures of currencies and metals and energy.
The daily newsletter listed the commodities below:
Chili futures gained more than 2% in early intraday trades, as dwindling supply and strong demand from the exporters has kept trader’s sentiment positive.
Arrivals of chili crop declined to about 25,000 bags; however demand was firm among exporters & local buyers at Guntur market. Spot rates were quoted in the range of `4,800-`5400 per kg, based on crop quality.
Arrivals of jeera crop increased to about 8,500-9,000 bags while demand was reported strong with more than 12,000 bags getting traded at auctions held at Unjha market. Spot rates were quoted in the range of `137-`139 per kg, as per local traders.
Spot rates of pepper garbled declined `401 per kg and that of un-garbled was down at `386per kg. Arrivals declined to 11 tons while trades too were down at 9 tons at Kochi market – IPSTA.
Turmeric arrivals: stood at 4,000 bags at Nizamabad market and declined to ~7,000 bags across mandis of Erode. Spot rates eased slightly & were offered in the range of `36-`39 per kg across different trading centers, as per traders.
Average price of small cardamom declined to `674 per kg, while the maximum price offered was up at `1,229.5 per kg, as per spice board. Total inflow of small cardamom crop increased to about 51.1 tons from which 48.5 tons were sold at auction held at Nedumkandam.
Soya bean futures recovered from their early losses to close in positive, supported by delay in monsoon rains across growing regions and firm cues from overseas market.
Arrivals of soya bean crop declined to 30,000 bags at MP market, but increased to more than 10,000 bags each across mandis of Maharashtra & Rajasthan, as per local traders.
Spot rates of soya bean offered by planters were up at `38-`38.5 per kg while rates offered across mandis of Indore were up in the range of `37-`37.5 per kg, as per traders.
Inflow of mustard seed crop increased to 31,946 quintals, while average of closing spot rates were up at `3,512.4 per quintal, as per agriculture marketing board of Rajasthan.
Arrivals of chana crop declined to about 75,000 bags while spot rates closed higher and were quoted in the range of `45-`46 per kg across major trading centers, as per trade reports.
Mentha oil futures traded in a tight range through major part of the trading session while spot rates traded steadily & were quoted in the range of `1,350-`1,380 per kg. Absence of any major demand & steady supply on a daily basis has been weighing on prices.