SunSirs: Before the Mid-Autumn Festival, Soybean Oil Market in China is Turbulent
September 18 2021 08:22:13 SunSirs (Linda)
On the eve of the Mid-Autumn Festival, the soybean oil market entered a period of turbulence, supported by rigid terminal demand, and the price of palm oil rose sharply. After the sharp rise, it ushered in a sharp drop. Affected by the price of palm oil, soybean oil also rose and fell sharply. The main reason was that the market was bullish before the holiday. On September 16, soybean oil rose by 0.7% in a single day. The bullish factor materialized. Soybean oil followed the palm oil market to start diving. On September 17, it fell by more than 2% in a single day.
After the Mid-Autumn Festival, the fundamentals of oils and fats are still bullish, and soybean oil still has room to rise in the future.
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