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SunSirs: Terminal Demand Weakens, Soybean Oil and Palm Oil Continues to Weaken

February 04 2021 08:25:19     SunSirs (Linda)

According to SunSirs data monitoring: beginning in January, the long-short game, soy oil palm oil all showed high diving market, the news at the end of the month was more supportive, soy oil palm oil ushered in a bottoming out, by the beginning of February, terminal demand weakened and continued to dive. . As of February 3, the soybean oil market price was 8,436 yuan/ton, down 2.65% from the beginning of January; the average palm oil market price was 7,010 yuan/ton, down 3.55% from the beginning of January.

According to the weekly increase and decrease of soybean oil from December 2020 to January 2021, it can be seen that in December 2020, the weekly increase and decrease of soybean oil is basically flat, with a large increase, with the highest increase exceeding 3%. Soybean oil was also mixed in January 2021, with a larger increase at the end of the month. The increase is more than 5%. By the beginning of February, the soybean oil market plunged, and the price fell for three consecutive days, or more than 2.6%.

According to the weekly rise and fall of palm oil from December 2020 to January 2021, it can be seen that palm oil rose for four consecutive weeks in December 2020 than soybean oil. In January 2021, palm oil's weekly gains and losses were flat, with the largest increase at the end of the month, with an increase of more than 4%, weaker than soybean oil. In February, palm oil also started the diving market, and the price continued to fall by more than 3%, which was more than that of soybean oil.

Terminal demand weakens, soy oil palm oil market continues to fall

In January, long and short factors took turns to play, soy palm oil rose and fell alternately. After the New Year's Day, the external drive started, soy oil palm oil started to rise, palm oil rose more than 5%, and soybean oil rose more than 2%.

Beginning on the 11th, negative factors came into play. Demand in the terminal catering industry was reduced, logistics and transportation were blocked, and the terminal stock market was general. The price of soybean oil palm oil fell, and the price plunged. The price of soybean oil palm oil fell for ten consecutive days. Soy oil fell more than 5%, and palm oil fell more than 7%.

Soybean oil palm oil bottomed out again on the 25th under the support of favorable external factors. Entering February, soybean oil plants have started parking plans one after another, and the terminal stock market is basically coming to an end. Soybean oil palm oil has begun a continued weak downward market, and prices have fallen endlessly. In just three days, soybean oil fell by 2.65% and palm oil fell by more than 3%.

SunSirs agricultural products analysts believe that on the eve of the Spring Festival, the terminal stock market has ended, soybean oil plants have been shut down one after another, and soybean oil palm oil will remain weak in the short term.

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

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