WORLD NEWS
The yen strengthened as a government report showed Japan’s inflation accelerated to the fastest in more than two decades in April, reducing the prospect of additional stimulus by the Bank of Japan. The yen advanced for a third day against the U.S. currency as 10-year Treasury (USGG10YR) yields near the lowest since June reduced the greenback’s appeal. The euro headed for its biggest monthly drop in a year versus nine major peers amid bets the European Central Bank will expand easing next week.
India Rupee remained little looseness against US dollar and is currently trading at 59.11

PRECIOUS METALS
Gold headed for a monthly loss as signs that the U.S. economy is improving fueled stock-market gains, while demand for the metal slowed in China, the biggest consumer. . Bullion for immediate delivery traded at $1,256.96 an ounce. Spot Gold is currently trading at $1257. MCX Gold Jun is currently at `26836, it is trading up by `14 points for the day. Comex Silver is currently trading at $19.07 whereas MCX Silver July is currently trading at `40146, it is up by `139.
The SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund,is holding 785.28 tonnes as per latest available data on their website.

BASE METALS
Copper fell for a second day, paring the first monthly gain this year after the U.S. economy contracted more than estimated, dimming demand prospects from the second-biggest user. The metal for delivery in three months on the London Metal Exchange retreated as much as 0.4 percent to $6,858 a metric ton. U.S. gross domestic product fell at a 1 percent annualized rate during the first quarter after a previously reported 0.1 percent gain. LME- tracked copper inventory climbed 1.6 percent.
All base metals are trading on a mixed note.
ENERGY
WTI headed for its first monthly advance since February as crude inventories shrank at the delivery point for New York contracts. Brent was steady in London. Futures were little changed after rising 0.8 percent yesterday. Stockpiles at Cushing, Oklahoma, the biggest U.S. oil-storage hub, dropped by 1.53 million barrels. WTI for July delivery was at $103.38 a barrel in electronic trading on the New York Mercantile Exchange. MCX Crude Oil June is currently trading at `6105, it is trading down by `23 for the day.

LME DATA :
LME Inventory
Last updated at May 30 01:30 pm IST
NCDEX - WEEKLY NEWS LETTERS
CHANA
• Chana futures traded range bound and ended flat on Thursday. Volumes and OI declined from previous trading day.
• Sources said that cheap imports of Chana and better than expected production continue to weigh on markets.
• Warehouse stocks improved on Thursday and continue to add pressure on the prices.
• As per the 3rd Advance estimates from Ministry of Agriculture production of Gram (Chana) is fore-casted to be 9.93 million MT in 2013-14 compared to 9.79 million MT (2nd Advance estimates) and 8.83 million MT in 2012-13. They added that total Pulses production is forecast-ed to be 19.57 (3rd Advance estimates) vs. 19.77 million MT (2nd Advance estimates) and 18.34 million MT in 2012-13.
Stock position of Chana at NCDEX approved warehouses


SOYABEAN & REFISOYA
Indian oilseed complex prices traded mixed yesterday. Rupee ended flat.
• Soybean prices moved higher yesterday as traders covered shorts after the recent sharp lower move in prices.
• According to 3rd Advance estimates released by GoI, India’s output for the following crops in 2013-14 year are:- Soybean- 11.95 million MT, RM Seed – 7.83 million MT.

INTERNATIONAL VIEW
• Tight supplies of old crop Soy in US was supportive. However, favorable Soy planting conditions and good progress limited gains for new crop prices.
• US Soybeans planting was 59% completed as of 25 May vs. 33% previous week vs. 5 year average of 56%.
• Area planted with Soybeans in Brazil next season should reach a record 31.2 million hectares (77.4 acres), up 4% from last year thanks to high prices for the oilseed.


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