Commodity Outlook for Rubber by KediaCommodity

Rubber yesterday traded with the positive node and settled 0.6% up at 20520 as persistent rain in Thailand lowered output, adding to worries over tightening supply ahead of low-production season early next year. The revised estimates provided by the Association of Natural Rubber Producing countries (ANRPC) indicate that the overall supply of natural rubber (NR) in 2010 would be high. All rubber producing countries have reported an increase in production, except Thailand. According to estimates, yearly production would be higher by 6.6 per cent this year. In yesterday's trading session Rubber has touched the low of 20336 after opening at 20539, and finally settled at 20520. For today's session market is looking to take support at 20392, a break below could see a test of 20265 and where as resistance is now likely to be seen at 20591, a move above could see prices testing 20663.

Trading Ideas:

Rubber trading range is 20265-20663.

Rubber ended higher as persistent rain in Thailand supported prices

All rubber producing countries have reported an increase in production, except Thailand

Spread between Rubber JAN & FEB contracts yesterday ended at 325.00. Spread yesterday traded in the range of 136 to 330.

NMCE accredited warehouses Rubber stock rosed by 242kgs to 3968kgs.

(Source: http://www.topnews.in/commodity-outlook-rubber-kediacommodity-2298479)