The big news of the day comes from Russia, wherein President Putin announces the Vaccine for Corona Virus developed by Russia and his daughter has been inoculated.
The Telangana tender was bidded by 7 participants, the highest price was 1107 and the lowest was 999/- qtl basis. The most important question is wether the Telangana government will award this or again go into retendering or making a poultry deal as was done last year.
Andhra Tender coming up tomorrow will be more interesting as this is online and one expects the cargo to be awarded by the government to the best bidder for the cargo. AP/Tamil Nadu processor have special interest in this tender. Markets are all waiting for the tender prices to be opened and then take further buying calls accordingly. Yesterday we heard buying tenders rejected by the buyers once the numbers for Telangana tender came up. Destination market prices are as below, unchanged from yday levels.
Tamil Nadu :- Rake 1390- 1400, Trucks 1480-1520
Bangalore :- Rake 1390-1400, Trucks 1530-1565
Hyderabad :- trucks 1490-1520.
Ahmedabad :- 1300-1325/1370 (super quality cargo buying)
Bihar :- 1100-1120 Rake point, 1200-1220 warehouse.
North :- 1280-1300 UP cargo for Haryana/Punjab
Sangli : -1400-1420
We have Sep contract trading at 1317 up 28 points with an open interest at 460 mt, and the spot price at 1246 levels. Exchange values will also have to look at the tenders and be trading accordingly.
International Market :-
We have the USDA report today, all focus would be on US corn yields and the south american weather. The Pre report analysis shared by Mcdonaldpelz us team is enclosed for, following the report, post-report analysis will be shared along. Chicago dec contract traded 325 cents/bushel.
Sensex and Nifty
Nifty closed 51 points higher and Sensex closed 213 points higher than yesterday’s close. Gold is trading lower and Rupee is trading at 74.65 as of this report writing appreciating by 21 points from yesterday’s close.
We will have rains in Delhi/NCr in the coming days is the major weather news, this will also cover parts of Rajasthan, wherein rainfall has been lacking till now.