SunSirs: Negative Pressure, Soybean Oil and Palm Oil Oscillated and Fell
September 19 2023 14:22:46 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, since September 1st, multiple bearish pressures have suppressed the soybean oil palm oil market, which has oscillated and declined. On September 1st, the average price of soybean oil market was 9,064 RMB/ton. On September 18th, the average price of soybean oil market was 8,676 RMB/ton, with a price drop of 4.28%. On September 1st, the average price of palm oil in the market was 7,980 RMB/ton. On September 18th, the average price of palm oil in the market was 7,416 RMB/ton, a decrease of 7.07%.
Since September, soybean oil palm oil has experienced a brief upward trend, followed by a mainly oscillating decline, and the overall market has declined. The bullish news of Meidou has been fulfilled, and the external oil market has experienced a decline after rising. The demand for concentrated consumption of terminal oils has declined, and Mapan palm oil is in a production cycle. Multiple bearish factors have weighed down, leading to a decline in the soybean oil palm oil market.
SunSirs agricultural product analyst at SunSirs, believes that external bearish factors are dominant, and the rise in soybean oil and palm oil prices in the future is still weak, with weak declines being the main trend.
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- 2024-04-29 SunSirs: Driven by External Market, China Soybean Oil and Palm Oil Market Fluctuates and Rises
- 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
- 2024-04-16 SunSirs: The Bearish Sentiment still Exists, China Soybean Meal Market may Hit a New Low
- 2024-04-12 SunSirs: Daily Report of China Commodity Data (April 12, 2024)
