SunSirs: Negative Pressure, China's Soybean Oil and Palm Oil Callback
September 14 2021 09:04:56 SunSirs (Linda)
Since September, soy oil palm oil has been relatively strong. From September 1-9, soybean oil rose 3.7% and palm oil rose 4.44%. Beginning on September 10, due to the negative impact of palm oil in Malaysia, soy oil palm oil has gradually ushered in a callback. From September 10th to 13th, soybean oil fell by 1.02%, and palm oil fell by 2.11%.
The report is bad, soy oil palm oil has pulled back
On September 1, institutional data was negative, and the price of palm oil on the external disk fell, and domestic palm oil futures fell in line with the market. On September 1, palm oil futures fell by 2.26% in a single day, and the spot price fell by 1.49% in a single day. Affected by the palm oil market, soybean oil prices fell.
Starting from September 2nd, negative factors have materialized, coupled with the low stocks of soybean oil palm oil, the Mid-Autumn Festival is approaching, terminal stocking demand has increased, and the price of soybean oil palm oil has shown an upward trend. From September 2-9, soybean oil rose 3.92%; palm oil rose 3.19%.
On September 10th, the MPOB report data was released. The output of Malay palm oil rose and the negative pressure was suppressed. Palm oil and soybean oil started the diving market, and the futures spot price continued to callback. Until September 13, soybean oil fell by more than 1%, and palm oil fell by more than 2%.
The Mid-Autumn Festival is approaching, supported by rigid demand for oils, and there is still room for growth in the market outlook.
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- 2024-04-10 SunSirs: China Soybean Oil Market and Palm Oil Market Declined after the Qingming Festival
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