Commodity Tips12

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The Indian government is ready with contingency plans for dealing with El Nino triggered poor monsoon rains, as forecast by the Indian Meteorological Department (IMD) as well as other weather agencies, says the new Agriculture Minister.

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Copper futures in China were relatively calm. The most-traded August copper contract on the Shanghai Futures Exchange edged up 0.2 percent to 48,320 yuan ($7,700) a ton.

Comex gold futures were lower on Thursday, after the Federal Reserve decided to continue trimming its bond-buying programme by $10 billion a month. The Fed looked past a dismal reading on first-quarter US growth and gave a mostly upbeat assessment of the economy's prospects.

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Malaysian palm oil futures fell 2.56 per cent for the week on Friday, following weak comparative vegetable oilsalthough traders expected prices to rebound soon due to high seasonal demand. Futures crude palm oil (FCPO) settled at 2,592 which was down 68 points from 2,660 last Friday.

With expected rise in export of soyameal and scarce arrival of beans in mandis across Madhya Pradesh, the bullish trend in soyabean will likely to continue in the coming days, said a trader.

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Natural gas prices shot up on Thursday after data revealed inventories rose more than expected though still small enough to allay supply concerns.

Crude futures rose on Monday amid concerns that geopolitical tensions in Ukraine and Libya will disrupt global supplies, while a weaker dollar also bolstered the commodity

Gold futures fell for the second time in three days as signs of a recovery in the U.S. economy curbed demand for the precious metal as an alternative asset.

Spot turmeric prices lost `200 a quintal in Erode markets on Tuesday as demand from North India dropped and the quality of arrivals was poor.

Copper prices hovered near three-month highs on Wednesday, underpinned by optimism about the outlook for demand from top consumer China.