SunSirs: Long Short Game, China Soybean Oil and Palm Oil Market Oscillates and Rises
June 13 2023 10:03:18 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, since June, the soybean oil palm oil market has been mixed, with the overall rise being the main trend. At the beginning of the month, the average price of soybean oil market was 7,200 RMB/ton. On June 9th, the average price of soybean oil market was 7,412 RMB/ton, with a price increase of 2.94%. At the beginning of the month, the average price of palm oil in the market was 7,066 RMB/ton. On June 9th, the average price of palm oil in the market was 7,228 RMB/ton, with a price increase of 2.29%.
Starting from June, the soybean oil and palm oil prices rose and fell, oscillating upwards. The hot weather has led to a significant decline in terminal oil demand, coupled with a record high number of imported soybeans, and the pressure on soybean oil inventory remains. The rise in the soybean oil palm oil market this round is mainly supported by futures trading. The soybean oil palm oil market has bottomed out and rebounded, with prices rising one after another. The mainstream soybean oil quotation has risen to 7,400 RMB/ton, and the average palm oil market price has risen to 7,200 RMB/ton, an increase of over 2%.
SunSirs agricultural product analyst believes that as the weather turns hot and the demand for oil consumption weakens, it is expected that the market for soybean oil and palm oil will rise weakly in the future.
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- 2024-04-18 SunSirs: Daily Report of China Commodity Data (April 18, 2024)
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- 2024-04-18 SunSirs: China Soybean Oil Market is constantly Falling, What will Happen in the Future?
- 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
