SunSirs: Long Short Game, China Soybean Oil and Palm Oil Market is Weak
December 21 2023 13:49:50 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, since December 11th, the domestic soybean oil and palm oil market has weakened, with prices mainly falling weakly. On December 11th, the average price of soybean oil in the market was 8,314 RMB/ton. On December 20th, the average price of soybean oil in the market was 8,204 RMB/ton, a decrease of 1.32%. On December 11th, the average price of palm oil in the market was 7,134 RMB/ton. On December 20th, the average price of palm oil in the market was 7,158 RMB/ton, with a price increase of 0.34%.
Since December 11th, foreign oil futures have performed poorly, with domestic soybean oil and palm oil falling weakly. The demand for terminal oils is average, and the market sales are average. The supply of imported soybeans is loose, and soybean oil inventories are high. The boosting effect of Malay palm oil is limited, and the spot market of palm oil has narrow consolidation, with weak upward momentum. As of December 20th, the soybean oil palm oil market has rebounded, with the overall decline of soybean oil being the main trend, falling more than 1.3% compared to the 11th; Palm oil overall saw a slight increase, up 0.34% from the 11th.
SunSirs agricultural product analysts believe that as the New Year and Spring Festival approaches, the terminal oil stocking market may start, and there is still room for an increase in soybean oil and palm oil in the future.
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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
