According to data monitoring by SunSirs, after New Year's Day, soybean oil palm oil continued to rise under the support of bullish factors and reached a high point. After the bullish was exhausted, the market began to dive high, and the market continued to fall. At the beginning of the month, the average market price of soybean oil was 8,666 yuan/ton, and the average price of palm oil was 7,268 yuan/ton. On January 22, the average market price of soybean oil was 8,366 yuan/ton; the average price of palm oil was 7,012 yuan/ton. Soybean oil fell 3.46% from the beginning of the month; palm oil fell 3.52% from the beginning of the month.
According to the weekly rise and fall of soybean oil from November 2020 to January 2021, it can be seen that in November 2020, soybean oil has begun to fluctuate weekly, and the overall increase is still dominated. The weekly rise and fall in December were basically flat. Soybean oil mainly rose in the first week of January 2021, and then began to plunge sharply. The decline in the week on the 11th was already close to 4%.
According to the weekly rise and fall of palm oil from November 2020 to January 2021, it can be seen that starting from November 2020, palm oil is relatively more resilient than soybean oil. Palm oil rose for three consecutive weeks in November, and fell slightly at the end of the month. Palm oil rose for four consecutive weeks in December, stronger than soybean oil. Beginning in January 2021, palm oil continued to rise sharply in the first week, and the increase was higher than that of soybean oil, and the decline in the second week was similar to that of soybean oil by more than 3%.
Benefits are exhausted, soybean oil and palm oil high diving
In December, soy oil palm oil was delayed in soy oil purchase and storage rumors, India's palm oil tariff policy, and Malay palm oil inventories were at a low level. Supported by bullish news, soy oil palm oil continued to rise by 6%-7%.
After New Year's Day, the futures prices of oils and fats on the external disk rose, soy palm oil continued to rise, palm oil rose more than 5%, and soybean oil rose more than 2%. Beginning on the 11th, the favorable factors for soybean oil palm oil have been digested by the market. The reduction in demand in the terminal catering industry is expected to increase sharply, logistics and transportation are blocked, terminal stocking prices are less than expected, negative factors hit, soy palm oil prices fell, the high platform dived, and prices fell Constantly, soy oil palm oil fell for ten consecutive days.
As of January 22, the soybean oil market price fell to 8,366 yuan/ton, a decrease of 5.63%, and the palm oil market price fell to 7,012 yuan/ton, a decrease of 7.22%.
SunSirs agricultural product analysts believe that the Spring Festival is approaching, the terminal stock market is coming to an end, logistics and transportation costs increase, and soybean oil palm oil may stabilize in the future.
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