Rudra Investment Free NCDEX Tips Expert Team says, Monsoon has become active again and for the last two days, there are heavy rains in Mumbai and surrounding areas. With this, the monsoon has reached Gujarat and western Madhya Pradesh. Since yesterday, heavy rains have occurred in many areas of Gujarat. There have been strong rains in Ahmedabad, Surat, and Valsad. According to the Indian Meteorological Department, rain and rain may continue in these areas of Mumbai and Gujarat this week. Especially in Mumbai, 27-28 June is the heavy rain alert.
There has been a sharp decline in the agri commodity from the rain. Soybean prices have slumped 1 percent in futures. Whereas gram has dropped sharply by 2 percent. Selling in turmeric, cotton flour, castor, and guar is also dominant. There has been a sharp decline from 1 to 1.5 percent.
Meanwhile, delaying 10 days of monsoon in northern India has had a major impact on Kharif cultivation. By June 22, sowing of Kharif has reduced by about 10 percent. Especially soybean, groundnut and arhar cultivation have declined 45-60 percent. At the same time, paddy cultivation is also about 5 percent less.
Meanwhile, crude oil has declined. Brent has fallen to $ 74. In fact, the agreement has been agreed to increase the supply of 10 million barrels in oil-producing countries. Meanwhile, gold and silver are trading in very small scope. All metals except copper in the metal are weak. In fact, China has taken an initiative to reduce interest rates among the traders. Copper has got support in such cases.
Rudra Investment Free NCDEX Tips
