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 07:57:41 SunSirs (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.
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- 2024-04-18 SunSirs: Daily Report of China Commodity Data (April 18, 2024)
- 2024-04-18 SunSirs: Multiple Bearish Factors Intertwined, China Palm Oil Market is Oscillating and Falling
- 2024-04-12 SunSirs: Good News, China Palm Oil is Expected to Rise
- 2024-04-10 SunSirs: China Soybean Oil Market and Palm Oil Market Declined after the Qingming Festival
- 2024-03-25 SunSirs: Futures Market Boosting, China Soybean Oil and Palm Oil Market are Rising
