Market Talk : India soybean futures tad higher Outlook weak

India June NCDEX soybean futures tad higher at

INR2,599/100 kg, last close INR2,597.50 tracking firm CBOT soy futures, which
are up 1% at a new nine-month high. However, "prices could retreat later in the
session on weak demand for soymeal and on higher edible oil imports," says
trader; expects contract to test INR2,585 support. Normal monsoon, high soybean
prices likely to increase acreage, which will lead to higher supply and lower
prices.

Market Talk : India gold futures likely up on weak INR

India August MCX gold contract likely to open up on weak

INR, firm international spot gold. "If the rupee remains weak, it may help gold
touch INR15,000," says Gnanasekar Thiagarajan, director at Commtrendz Research;
expects contract to open INR14,650-INR14,675/10 grams, trade in
INR14,545-INR14,770 range. Contract last ended down 0.2% at INR14,635.

Market Talk : India wheat futures likely down; high supplies

India wheat June NCDEX futures likely down on increased

local supplies; Food Corporation of India bought record 24 million metric tons
wheat April 1-June 4, suggesting huge oversupply in market. "Market will be
subdued as demand still remains low and trading will be rangebound," says
trader; tips INR1,088-INR1,105/100 kg band vs INR1,098.00 last close. Volume
expected to shift to July contract before June expiry on June 19; open interest
for July at 7190 tons vs July 6350 tons.

India Apr 1 jun- 7 wheat buy 24.15 m Tons Up to 11% on yr-offcial

NEW DELHI - Local wheat purchases by state-run Food Corp. of India
between April 1 and June 7 rose by 11% on year to 24.15 million metric tons, a
government official said Monday.

Food Corp. bought in the same period last year.
The federal government's local wheat purchase target is fixed at 24.40 million
tons by end-June. Last year, Food Corp. bought a total of 22.6 million tons of
wheat after buying 21.83 million tons during the April 1-June 7 period.
It has bought nearly 94.5% of the wheat sold by farmers in the structured
local markets, as a high state-set purchase price of INR10,800/ton has
discouraged private traders from buying.

Market Talk: India soybean futures likely lower on CBOT cues

India July NCDEX soybean futures likely to open lower on
weak overnight CBOT soy futures. CBOT July soybean lost 9.5 cents to end at
$12.09 a bushel. "The monsoon's progress seems normal, and that will weigh on
prices as well. The trend remains weak and any breach of the INR2,600 support
could trigger fresh selling," says Nirmal Bang Commodities analyst Deepa
Shakdwipee; normal monsoon could lead to higher output and force spot prices
lower. Shakdwipee expects soybean to trade INR2,600-INR2,645 intra-day; it last
closed at INR2,638.

Market Talk: India pepper futures likely to extend gains

India pepper June NCDEX futures likely up, extending
yesterday's gains, but weak local demand may limit rise. "Also, profit-taking
may bring down prices later in the session," says local trader; expects contract
to move in INR12,320-INR12,550/100 kg band; last close INR12,466.

Market Talk: India Wheat futures likely up: outlook weak

India wheat June futures on NCDEX likely to open up after
yesterday's late rebound; but, sharp gains unlikely on likely profit-taking.
Price may weaken later in session on increased supply, says local analyst; adds,
"Besides, there's no decision by the government yet on the lifting of export
ban;" tips INR1,090-INR1,115/100 kg band for day; last ended +0.8% at
INR1,105.20.

Market Talk: India Gold futures likely up on overseas cues

India August MCX contract likely to open up, tracking
gains in overseas spot gold, says Kunal Shah of Nirmal Bang Commodities; adds,
contract may touch INR14,940/10 grams today; "Gold is attracting a lot of
buying due to weakening dollar in the international market," Shah says; expects
contract in INR14,790-INR14,940 band; last ended up 0.3% at INR14,857.