Beginning in May, soybean oil palm oil has entered a long-short cycle of stimulation, the market has risen and fallen sharply, and the overall oscillating rise. By June, soy oil palm oil still showed a sharp rise and fall, and palm oil fell more significantly than soybean oil. As of June 8, the average soybean oil market price was 9,666 yuan/ton, an increase of 2.18% from the beginning of the month; the average palm oil market price was 8,838 yuan/ton. Tons, up 0.2% from the beginning of the month.
Longs and shorts alternate, soy oil and palm oil rose and fell sharply in May
In May, there are many positive aspects: Mapan palm oil export data is good, soy oil palm oil stocks are at a low level. On the negative side: Imported soybeans have increased to Hong Kong, Mapan palm oil is in the cycle of increasing production, coupled with the impact of the epidemic, exports are expected to decline. In terms of domestic policy, prices are stabilized, long-term factors play the game, soy oil palm oil fluctuates frequently, and the overall fluctuation rises.
Long and short continue the game, soy oil and palm oil continued to rise and fall sharply in June
Entering June, soy oil palm oil has resumed its upward trend. Mainly because of the limited output of Malay palm oil and the impact of the dry weather in the US soybeans, agricultural products in foreign markets have become popular. On June 2, soybean oil palm oil futures rose sharply with the daily increase of more than 4%; daily increase of palm oil was nearly 5%. June 3 began to usher in a callback, soy oil fell 1.99% daily; palm oil fell 2.63% daily. On June 7 this week, soy oil palm oil rose sharply again due to the external drive. Soybean oil rose by more than 2% and palm oil rose by more than 1.4%. On the 8th, due to the news that Mapan’s palm oil increased production, stocks rebounded and high-level diving started. Soybean oil fell more than 2% on a daily basis, and palm oil fell nearly 4% on a daily basis.
The speculation of the US soybean weather in the outer disk is still there. There is still room for growth in palm oil in Malaysia. Soybean oil palm oil will continue to rise in the future.
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