SunSirs: Multiple Bullish Factors Superimposed, China's Soybean Oil and Palm Oil Rise again

According to SunSirs data monitoring: Since December, the soybean oil palm oil market has experienced a short period of oscillation at the beginning of the month, and the market has once again ushered in a big increase, driven by the sharp rise of US soybeans and the market of terminal equipment. As of December 18, the average market price of soybean oil was 7,116 yuan/ton, an increase of 5.3% from the early December price; the average market price of palm oil was 7,116 yuan/ton, an increase of 5.55% from the early December price.

According to the monthly rise and fall of soybean oil from January to November 2020, it can be seen that the soybean oil market performed brilliantly from January to November 2020. It has been falling for the first four months of the year. It has risen for 7 consecutive months in May, and the maximum increase in July has exceeded 12% , August and October and November soybean oil rose around 7 points. Soybean oil rose more than 5% from December 1-18.

According to the monthly fluctuations in January-November 2020, it can be seen that the palm oil market in the first 11 months of 2020 is basically similar to that of soybean oil. Palm oil has also fallen for 4 consecutive months, and palm oil has risen for 7 consecutive months since May. The biggest increase was in July, exceeding 12%. Palm oil's performance in the fourth quarter was not as good as that of soybean oil. In October, the increase was relatively close to that of soybean oil, rising 7.32%. Palm oil prices rose by only 0.77% in November. From December 1-18, palm oil rose more than 5%.

Multiple bullish support, soybean oil and palm oil continue to rise

Beginning in December, the soybean oil palm oil market performed generally at the beginning of the month. After the price went down, the price fluctuated slightly. Supported by bullish factors such as rumors of delays in soy oil purchasing and storage, India's palm oil tariff policy, and other positive factors, soy oil palm oil oscillated and rose volatile.

Beginning in the middle of the month, the external market of US soybeans has been working hard, and prices have continued to rise. Malaysian palm oil production is expected to decline, domestic soybean oil palm oil stocks are low, terminal small-package oil plants start pre-holiday stocking market, multiple bullish factors overlap, soybean oil palm oil futures The spot market has risen sharply. As of December 18, the average price of soybean oil in the market has exceeded 8,500 yuan/ton, and there is a trend of breaking through the 9,000 mark. The average price of palm oil has exceeded 7,000 yuan/ton. Soy oil palm oil continued to rise in December.

SunSirs agricultural products analysts believe that the New Year's Day and the Spring Festival are approaching, and the terminal stock market is supported. Soybean oil palm oil is still expected to continue its upward trend in the short term, and the market outlook is still easy to rise and hard to fall.

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