The soybean oil commodity index was 57.87 on April 9, up 2.21 points from yesterday, down 42.42% from the cycle high of 100.51 (2011-Septmbe-12), and up 15.69% from the low of 50.02 on December 18, 2018 (Note: Period refers to 2011-Septmber-01 till now).

The palm oil commodity index was at 66.16 on April 9, up 2.35 points from the previous day, down 41.39% from the cycle high of 112.88 (2012-April-10), and up 28.37% from the low of 51.54 on December 16, 2018 (Note: Period from March 1, 2012 to now). 

After the tomb-sweeping day, the price of soybean oil palm oil rebounded after a weak fall in early April. On April 6, soybean oil market average price was 5,566 RMB/ton. The average market price of palm oil is 4,948 RMB/ton. The average price of soybean oil was 5,916 RMB/ton, up 6.29%. Palm oil market average was 5228 RMB/ton, and the price rose by 5.66%.

Products: In early April, soybean oil and palm oil price is still in a downward trend. After the tomb-sweeping day, as for outside dish, Malaysia palm oil plantations, announced the closure, which leveraged the concern of the future market for palm oil supply. Coupled with the rising international crude oil prices, boosting soybean oil palm oil futures prices, the terminal being gradually restore school starts. Oil concentration increased in consumption. Wiyj more usury multi-factors overlaying, soybean oil and palm oil prices went into back up channel, and futures led spot prices rose sharply.

On April 9, the soybean oil futures contract rose more than 160 RMB/ton in a single day. The spot mainstream price was 5,900-6,000 RMB/ton. The price rose more than 100 RMB /ton in a single day. Palm oil futures contract 05 rose more than 100 RMB/ton in a single day, and the spot mainstream price was 5,200-5,300 RMB/ton. The price rose by 50-100 RMB/ton in a single day.

Futures: Dalian soybean oil futures main y2009 contract, opened 5,584 RMB, closed 5672 RMB, up 88 RMB. The p2009 contract, the main palm oil futures contract, opened at 4,852 RMB and closed up 70 RMB at 4,894 RMB.

Terminal: Since April, schools and colleges and middle schools across the country have resumed school, the centralized consumption demand of catering has increased, the purchase of terminal businesses has increased, and the inventory of soybean oil has decreased, which is in the line of 1.2 million tons, with a decrease of about 0.75% on a weekly basis. Domestic palm oil stocks are in the line of 800,000 tons, down more than 9% week on week.

Market Forecast: Li Bing, an agricultural products analyst at SunSirs, said: "the current situation, whether foreign imports of soybeans, or palm oil supply there are positive factors, soybean oil and palm oil in the short-term market can rise, continue to oscillate upward.

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