SunSirs: Under the Game of Long and Short, the Post-holiday Soybean Oil and Palm Oil Staged a Roller Coaster
June 10 2022 10:17:56 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, since June, the soybean oil and palm oil market has been mixed, first rising and then falling. At the beginning of the month, the average market price of soybean oil was 12,220 RMB/ton. On June 9, the average market price of soybean oil was 12,432 RMB/ton, an increase of 1.73%. At the beginning of the month, the average market price of palm oil was 15,760 RMB/ton. On June 9, the average market price of palm oil was 15,890 RMB/ton, up 0.82%.
Analysis review
Beginning in June, the soybean oil and palm oil market has been sorted in a narrow range, and the market has been relatively stable. After the Dragon Boat Festival, due to the rise of palm oil in Malaysia, soybean oil and palm oil ushered in a wave of rising prices. Due to the weakening of terminal demand for oils and fats, soybean oil inventories are high, and the number of imported soybeans has increased. Under the negative pressure, palm oil and soybean oil rose after rising and ushered in a decline, and the market plunged one after another. The mainstream quotation of soybean oil was 12,400 RMB/ton, and the mainstream price of palm oil fell to the first line of 15,800 RMB/ton.
Market outlook
The agricultural product analyst of SunSirs believes that the oil and fat in the outer disk is still bullish, and it is expected that the soybean oil and palm oil market will still have room for growth.
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