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SunSirs: Bullishness is still there, Palm Oil and Soybean Oil Gains are Coming, up 3.21% and 2.44% Respectively from the Beginning of the Week
August 27 2021 07:57:41SunSirs(Linda)

Supported by bullish factors this week, soy oil palm oil has ushered in rising prices. As of August 26, the average soybean oil market price was 9,646 yuan/ton, an increase of 2.44% from the beginning of the week; the average palm oil market price was 9,242 yuan/ton, which was more At the beginning of the week, it rose 3.21%.

Bullish is still on, soy oil and palm oil continues to rise

Soy oil palm oil bottomed out again this week, and prices rose for several days under the support of the futures market. Mainly because the Mid-Autumn Festival is approaching, the rigid demand for soy oil palm oil has increased. Soybean oil stocks have dropped to 870,000 tons, and palm oil stocks are about 410,000 tons, which are still at a low level. In addition, soybean oil palm oil fell sharply in the early period and the market was bullish. Driven by the surge in the futures market, soybean oil palm oil once again staged a counter-attack market. Soybean oil saw a weekly increase of nearly 3%, and palm oil saw a weekly increase of nearly 4%.

The Mid-Autumn Festival is approaching, and there is still room for speculation in the outer disk of US soybeans. Soybean oil palm oil is expected to continue to strengthen in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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