Soybean Prices to Trade Sideways to Lower: Neal Bhai Reports

Neal Bhai Report on Soybean

According to the data released by SEA, India’s soy meal exports down 32% on year to 59,643 tn in August due to dull demand from major importers. For Apr – Aug, India’s soymeal exports down by 4% on year at 3.72 lakh tonnes. However, there is anticipation of good physical demand for crushing due to expectations over rising exports to China.

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MCX GOLD FUTURES OUTLOOK

Gold May Hit $1,300 by End of Year, ICBC Says

Gold Silver Reports (GSR) – Bullion is set to average $1,260 an ounce in the third quarter and rise further in the following three months as interest rate increases are priced in and physical demand emerges, Marcus Garvey, a London-based commodities strategist, said in an interview in India.       

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Commodities has Rarely Been Stronger, According to Goldman Sachs

Gold Silver Reports (GSR) – Commodities has rarely been stronger, according to Goldman Sachs Group Inc. With raw materials rallying on escalating political-tensions across the globe and economic growth remaining strong, the bank’s analysts including Jeffrey Currie doubled down on their “overweight” recommendation. They reiterated a view that commodities will yield returns of 10 percent over the next 12 months, according to an April 12 note.                                          

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BlackRock’s $1.3 Billion Gold Fund Feels Pain of Miners

Gold Silver Reports (GSR) – BlackRock’s $1.3 Billion Gold Fund Feels Pain of Miners — The $1.3 billion BlackRock Gold and General Fund lost 15 percent last quarter, its worst performance since the third quarter of 2015. Among large materials-focused equity funds, it was the second-worst performer after another BlackRock gold fund domiciled in Japan.

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