SunSirs: Bullish Support in January, Chinese Soybean Oil and Palm Oil Oscillated up

After the New Year's Day, the external disk was supported by bullishness, and soybean oil and palm oil continued to rise in the market, oscillating up for a month. On January 27, the average market price of soybean oil was 10,120 yuan/ton, up 5.31% from the beginning of the month; the average market price of palm oil was 10,792 yuan/ton, up 12.89% from the beginning of the month.

After New Year's Day, South American soybeans are in the growing season, and the dry weather is hyped. Due to heavy rains in Malaysia, floods occurred, and palm oil supplies fell. Supported by multiple positive factors, the price of soybean oil and palm oil continued to rise sharply, and palm oil once again exceeded 10,000. Because the soybean oil and palm oil futures market rose too fast, the market turnover was average. After the sharp rise, adjustments were made one after another, and the soybean oil and palm oil market oscillated up for half a month. Due to the high price of soybean oil and palm oil, especially the price of palm oil continued to be in the first line of 10,000 yuan, the high price inhibited the transaction.

Beginning in the middle of the month, due to the impact of floods in Malaysia, palm oil production is expected to decline, and Malay palm oil has risen strongly. Under the support of the price of Mapan palm oil, domestic soybean oil and palm oil have once again staged a skyrocketing market. Palm oil bears the brunt and has been rising to 10,700 yuan / ton. This week, palm oil rose 3.79%, and soybean oil followed suit. The price of 10,000 yuan rose 2.73%.

At the end of the month, the Malaysian palm oil market rose strongly, and the palm oil and soybean oil rose again. As the Spring Festival approached, soybean oil plants were shut down for maintenance one after another, and soybean oil and palm oil spot traders were on holiday one after another, and the spot market was generally stable.

After the Spring Festival, the terminal demand for oils and fats has turned weak, and soybean oil and palm oil are at a high level, and the market outlook may be adjusted in succession.

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