https://t.me/+XbCbm4PEsgo2YmMy
By: via Malaysian Palm Oil Council Russia
четверг, 30 июня 2022 г.
среда, 29 июня 2022 г.
Malaysian Palm Oil Council Russia's Post
GRAINS-Chicago corn falls on improving weather prospects, ahead of govt report
BEIJING, June 30 (Reuters) - Chicago corn fell on Thursday, weighed down by increased chances of rain in growing areas in the United States.
Wheat and soybeans also fell.
Traders were also watching a government crop report on Thursday and adjusted their positions ahead of it.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 fell 0.42% to $6.51 a bushel.
Wheat Wv1 fell 0.59% to $9.24-3/4 a bushel and soybeans Sv1 edged down 0.02% to $17.48 a bushel.
Traders expect the U.S. Department of Agriculture (USDA) to raise its estimate of domestic corn plantings in its acreage and stocks report to be released on Thursday. USDA was also expected to cut its estimates on soybean and spring wheat planting acreage in the report.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), bought 815,000 tonnes of mainly French wheat in a tender, marking its biggest single purchase in years as prices slightly ease.
Argentina's major farm groups called for a trade strike to pressure the government to do more as frustration over crippling shortages of diesel and fertilizers weighs on the country's key agricultural sector.
The U.S. soybean crush likely totalled 5.457 million short tons in May, or 181.9 million bushels, according to a Reuters poll, which would be above the 180.9 million bushels processed in April and up from the 173.5 million bushels crushed in the same month last year.
A truck driver protest in Argentina is slashing the number of freight vehicles carrying grains to the country's main port on Wednesday, threatening exports and milling.
Brazil 2021/2022 total corn crop was seen at 116.10 million tonnes, vs. 114.35 million tonnes in previous forecast, according to Datagro.
The Russia-focused Sovecon agriculture consultancy raised its forecast for Russia's July-June wheat exports by 300,000 tonnes to a new record high of 42.6 million tonnes.
Russia said on Wednesday it was ready to work with the United Nations to combat the risks of a global food crisis, and was willing to meet its obligations to export food and fertilisers.
The U.S. Department of Agriculture (USDA) cut its rating of the country's corn crop in good-to-excellent shape to 67% in its weekly crop progress report, down 3 percentage points from a week ago and below the average of estimates in a Reuters poll.
Commodity funds were net buyers of Chicago Board of Trade soybean, soymeal and soyoil futures contracts on Wednesday; net sellers of wheat futures contracts; and net even in corn, traders said.
MARKET NEWS
U.S. Treasury yields eased for a second consecutive day and the dollar rose, after Federal Reserve Chairman Jerome Powell said there is a risk the U.S. central bank's interest rate hikes will slow the economy too much, but the bigger risk is persistent inflation.
By: via Malaysian Palm Oil Council Russia
BEIJING, June 30 (Reuters) - Chicago corn fell on Thursday, weighed down by increased chances of rain in growing areas in the United States.
Wheat and soybeans also fell.
Traders were also watching a government crop report on Thursday and adjusted their positions ahead of it.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade (CBOT) Cv1 fell 0.42% to $6.51 a bushel.
Wheat Wv1 fell 0.59% to $9.24-3/4 a bushel and soybeans Sv1 edged down 0.02% to $17.48 a bushel.
Traders expect the U.S. Department of Agriculture (USDA) to raise its estimate of domestic corn plantings in its acreage and stocks report to be released on Thursday. USDA was also expected to cut its estimates on soybean and spring wheat planting acreage in the report.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), bought 815,000 tonnes of mainly French wheat in a tender, marking its biggest single purchase in years as prices slightly ease.
Argentina's major farm groups called for a trade strike to pressure the government to do more as frustration over crippling shortages of diesel and fertilizers weighs on the country's key agricultural sector.
The U.S. soybean crush likely totalled 5.457 million short tons in May, or 181.9 million bushels, according to a Reuters poll, which would be above the 180.9 million bushels processed in April and up from the 173.5 million bushels crushed in the same month last year.
A truck driver protest in Argentina is slashing the number of freight vehicles carrying grains to the country's main port on Wednesday, threatening exports and milling.
Brazil 2021/2022 total corn crop was seen at 116.10 million tonnes, vs. 114.35 million tonnes in previous forecast, according to Datagro.
The Russia-focused Sovecon agriculture consultancy raised its forecast for Russia's July-June wheat exports by 300,000 tonnes to a new record high of 42.6 million tonnes.
Russia said on Wednesday it was ready to work with the United Nations to combat the risks of a global food crisis, and was willing to meet its obligations to export food and fertilisers.
The U.S. Department of Agriculture (USDA) cut its rating of the country's corn crop in good-to-excellent shape to 67% in its weekly crop progress report, down 3 percentage points from a week ago and below the average of estimates in a Reuters poll.
Commodity funds were net buyers of Chicago Board of Trade soybean, soymeal and soyoil futures contracts on Wednesday; net sellers of wheat futures contracts; and net even in corn, traders said.
MARKET NEWS
U.S. Treasury yields eased for a second consecutive day and the dollar rose, after Federal Reserve Chairman Jerome Powell said there is a risk the U.S. central bank's interest rate hikes will slow the economy too much, but the bigger risk is persistent inflation.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil set for steepest monthly decline since 2008 financial crisis
KUALA LUMPUR, June 30 (Reuters) - Malaysian palm oil futures firmed on Thursday ahead of June export data, but worries over declining shipments and rising production set the contract for its biggest monthly slump since the 2008 financial crisis.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 12 ringgit, or 0.24%, to 4,915 ringgit ($1,116.54) a tonne during early trade.
For the month, the contract plunged 22%, its sharpest drop since October 2008.
FUNDAMENTALS
Cargo surveyors are expected to release estimates for June exports later in the day. Traders are expecting shipments to remain weak amid top producer Indonesia's push to boost exports.
Industry groups have so far pegged a double-digit growth in production this month, although temporary mill closures in some parts of Malaysia due to declining palm prices may hurt output.
Dalian's most-active soyoil contract DBYcv1 fell 0.2%, while its palm oil contract DCPcv1 eased 0.02%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.2%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 4,742 ringgit per tonne, as it could have completed a bounce from the recent low of 4,493 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares were ending a rough quarter in a sombre mood on Thursday amid fears central banks' cure for inflation will end up sickening the global economy, though it is proving to be a fillip for the safe-haven dollar and government bonds.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, June 30 (Reuters) - Malaysian palm oil futures firmed on Thursday ahead of June export data, but worries over declining shipments and rising production set the contract for its biggest monthly slump since the 2008 financial crisis.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 12 ringgit, or 0.24%, to 4,915 ringgit ($1,116.54) a tonne during early trade.
For the month, the contract plunged 22%, its sharpest drop since October 2008.
FUNDAMENTALS
Cargo surveyors are expected to release estimates for June exports later in the day. Traders are expecting shipments to remain weak amid top producer Indonesia's push to boost exports.
Industry groups have so far pegged a double-digit growth in production this month, although temporary mill closures in some parts of Malaysia due to declining palm prices may hurt output.
Dalian's most-active soyoil contract DBYcv1 fell 0.2%, while its palm oil contract DCPcv1 eased 0.02%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.2%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 4,742 ringgit per tonne, as it could have completed a bounce from the recent low of 4,493 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares were ending a rough quarter in a sombre mood on Thursday amid fears central banks' cure for inflation will end up sickening the global economy, though it is proving to be a fillip for the safe-haven dollar and government bonds.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
GRAINS-Chicago wheat extends gains on demand optimism
BEIJING, June 29 (Reuters) - Chicago wheat futures extended gains on Wednesday, lifted by signs of improved demand and bargain-buying after three straight sessions pushed the contract to its lowest level since February.
Corn and soybeans edged lower.
FUNDAMENTALS
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 rose 0.29% to $9.38-3/4 a bushel.
Corn Cv1 fell 0.46% to $6.56-1/4 a bushel and soybeans Sv1 edged down 0.39% to $14.56-3/4 a bushel.
Jordan's state grains buyer purchased about 60,000 tonnes of hard milling wheat to be sourced from optional origins in a tender that closed on Tuesday.
Indicating signs of demand, Bangladesh and Pakistan also launched tenders to purchase wheat. The reports of more demand supported Chicago wheat prices.
The U.S. Department of Agriculture (USDA) cut its rating of the country's corn crop in good-to-excellent shape to 67% in its weekly crop progress report, down 3 percentage points from a week ago and below the average of estimates in a Reuters poll.
Russia, the world's largest wheat exporter, will change its formula for calculating grain and sunflower oil export taxes to support shipments amid a strong rouble currency, the economy ministry said on Tuesday.
Brazil corn exports are forecast to reach 1.683 million tonnes in June, versus 1.758 million tonnes forecast a week earlier. Soybean exports from the South American country were seen reaching 10.154 million tonnes in June vs 10.795 million tonnes forecast in previous week, ANEC said Tuesday.
Commodity funds were net buyers of Chicago Board of Trade corn, soybean, wheat, soymeal and soyoil futures contracts on Tuesday, traders said.
MARKET NEWS
Stocks on global indexes fell sharply on Tuesday, with the S&P 500 down 2% after a report showed U.S. consumer confidence dropped in June amid concerns about inflation, while oil prices gained for a third day.
By: via Malaysian Palm Oil Council Russia
BEIJING, June 29 (Reuters) - Chicago wheat futures extended gains on Wednesday, lifted by signs of improved demand and bargain-buying after three straight sessions pushed the contract to its lowest level since February.
Corn and soybeans edged lower.
FUNDAMENTALS
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 rose 0.29% to $9.38-3/4 a bushel.
Corn Cv1 fell 0.46% to $6.56-1/4 a bushel and soybeans Sv1 edged down 0.39% to $14.56-3/4 a bushel.
Jordan's state grains buyer purchased about 60,000 tonnes of hard milling wheat to be sourced from optional origins in a tender that closed on Tuesday.
Indicating signs of demand, Bangladesh and Pakistan also launched tenders to purchase wheat. The reports of more demand supported Chicago wheat prices.
The U.S. Department of Agriculture (USDA) cut its rating of the country's corn crop in good-to-excellent shape to 67% in its weekly crop progress report, down 3 percentage points from a week ago and below the average of estimates in a Reuters poll.
Russia, the world's largest wheat exporter, will change its formula for calculating grain and sunflower oil export taxes to support shipments amid a strong rouble currency, the economy ministry said on Tuesday.
Brazil corn exports are forecast to reach 1.683 million tonnes in June, versus 1.758 million tonnes forecast a week earlier. Soybean exports from the South American country were seen reaching 10.154 million tonnes in June vs 10.795 million tonnes forecast in previous week, ANEC said Tuesday.
Commodity funds were net buyers of Chicago Board of Trade corn, soybean, wheat, soymeal and soyoil futures contracts on Tuesday, traders said.
MARKET NEWS
Stocks on global indexes fell sharply on Tuesday, with the S&P 500 down 2% after a report showed U.S. consumer confidence dropped in June amid concerns about inflation, while oil prices gained for a third day.
By: via Malaysian Palm Oil Council Russia
вторник, 28 июня 2022 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm slips as bigger Indonesia export quotas weigh
KUALA LUMPUR, June 29 (Reuters) - Malaysian palm oil futures fell more than 1% on Wednesday, snapping a two-day rally, after Indonesia raised export quotas for companies.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange fell 68 ringgit, or 1.36%, to 4,921 ringgit ($1,118.92) a tonne during early trade.
FUNDAMENTALS
Indonesian palm oil companies will be offered larger export quotas under new plans to adjust rules on local cooking oil sales, officials said on Tuesday, part of government efforts to improve domestic distribution after a months-long price crisis.
Dalian's most-active soyoil contract DBYcv1 rose 0.5%, while its palm oil contract DCPcv1 gained 0.8%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1.1%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 4,742 ringgit per tonne, as it could have completed a bounce from the recent low of 4,493 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Stocks on global indexes fell sharply on Tuesday, with the S&P 500 down 2% after a report showed U.S. consumer confidence dropped in June amid concerns about inflation, while oil prices gained for a third day.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, June 29 (Reuters) - Malaysian palm oil futures fell more than 1% on Wednesday, snapping a two-day rally, after Indonesia raised export quotas for companies.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange fell 68 ringgit, or 1.36%, to 4,921 ringgit ($1,118.92) a tonne during early trade.
FUNDAMENTALS
Indonesian palm oil companies will be offered larger export quotas under new plans to adjust rules on local cooking oil sales, officials said on Tuesday, part of government efforts to improve domestic distribution after a months-long price crisis.
Dalian's most-active soyoil contract DBYcv1 rose 0.5%, while its palm oil contract DCPcv1 gained 0.8%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1.1%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
Palm oil may test a support at 4,742 ringgit per tonne, as it could have completed a bounce from the recent low of 4,493 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Stocks on global indexes fell sharply on Tuesday, with the S&P 500 down 2% after a report showed U.S. consumer confidence dropped in June amid concerns about inflation, while oil prices gained for a third day.
By: via Malaysian Palm Oil Council Russia
понедельник, 27 июня 2022 г.
Malaysian Palm Oil Council Russia's Post
Drought in South America: Implication on Palm Oil Trade by Brazil and Argentina
https://mpoc.org.my/drought-in-south-america-implication-on-palm-oil-trade-by-brazil-and-argentina/
South America Global Weather Events Known as the South American agricultural powerhouse, Brazil and Argentina crop production in 2022 is expected to greatly affect the global oils and fats market. Both Brazil and Argentina account for almost 50% of total global soybean supply, with Brazil ranked as the largest exporter of soybean worldwide. Argentina is […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/drought-in-south-america-implication-on-palm-oil-trade-by-brazil-and-argentina/
South America Global Weather Events Known as the South American agricultural powerhouse, Brazil and Argentina crop production in 2022 is expected to greatly affect the global oils and fats market. Both Brazil and Argentina account for almost 50% of total global soybean supply, with Brazil ranked as the largest exporter of soybean worldwide. Argentina is […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
GRAINS-Chicago wheat rises on short-covering after falling on expanded harvest
BEIJING, June 28 (Reuters) - Chicago wheat futures rose on Tuesday on short covering, after falling to a four-month low in the previous session as ongoing winter harvest was ahead of expectations.
Corn and soybeans both edged up.
FUNDAMENTALS
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 rose 0.65% to $9.23-1/2 a bushel. The market fell to its lowest since February on Monday, pressured by the expanding harvest of winter wheat in the Northern Hemisphere and a lack of demand for U.S. supplies.
Corn Cv1 climbed 0.24% to $7.46 a bushel and soybeans Sv1 edged up 0.37% to $14.38 a bushel.
The U.S. Department of Agriculture (USDA) cut its rating of the country's corn crop in good-to-excellent shape to 67% in its weekly crop progress report, down 3 percentage points from a week ago. Its U.S. soybean crop rating also fell by 3 percentage points to 65% good to excellent, according to the report.
The U.S. Food and Drug Administration concluded a review of Argentine biotechnology firm Bioceres' BIOX.BA genetically modified (GMO) wheat without further questions, a "key step" to commercializing it in the United States, the company said on Monday.
The USDA said the U.S. winter wheat harvest was 41% complete, more than trade expectations and ahead of the five-year average of 35%.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), announced on Monday that it is seeking an unspecified amount of wheat in an international tender.
Commodity funds were net sellers of Chicago Board of Trade corn and wheat futures contracts on Monday, and net buyers of soybean, soymeal and soyoil futures, traders said.
MARKET NEWS
U.S. stocks ended a volatile trading session slightly lower on Monday after posting sharp gains the week before, while oil prices and Treasury yields rose.
By: via Malaysian Palm Oil Council Russia
BEIJING, June 28 (Reuters) - Chicago wheat futures rose on Tuesday on short covering, after falling to a four-month low in the previous session as ongoing winter harvest was ahead of expectations.
Corn and soybeans both edged up.
FUNDAMENTALS
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 rose 0.65% to $9.23-1/2 a bushel. The market fell to its lowest since February on Monday, pressured by the expanding harvest of winter wheat in the Northern Hemisphere and a lack of demand for U.S. supplies.
Corn Cv1 climbed 0.24% to $7.46 a bushel and soybeans Sv1 edged up 0.37% to $14.38 a bushel.
The U.S. Department of Agriculture (USDA) cut its rating of the country's corn crop in good-to-excellent shape to 67% in its weekly crop progress report, down 3 percentage points from a week ago. Its U.S. soybean crop rating also fell by 3 percentage points to 65% good to excellent, according to the report.
The U.S. Food and Drug Administration concluded a review of Argentine biotechnology firm Bioceres' BIOX.BA genetically modified (GMO) wheat without further questions, a "key step" to commercializing it in the United States, the company said on Monday.
The USDA said the U.S. winter wheat harvest was 41% complete, more than trade expectations and ahead of the five-year average of 35%.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), announced on Monday that it is seeking an unspecified amount of wheat in an international tender.
Commodity funds were net sellers of Chicago Board of Trade corn and wheat futures contracts on Monday, and net buyers of soybean, soymeal and soyoil futures, traders said.
MARKET NEWS
U.S. stocks ended a volatile trading session slightly lower on Monday after posting sharp gains the week before, while oil prices and Treasury yields rose.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil falls over 2% on higher output outlook
KUALA LUMPUR, June 28 (Reuters) - Malaysian palm oil futures fell on Tuesday, giving up some gains from the previous session, as expectations of rising production and fears of recession weighed on prices.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange slid 133 ringgit, or 2.7%, to 4,789 ringgit a tonne during early trade.
Palm had jumped 5% in the previous session.
FUNDAMENTALS
The Southern Peninsula Palm Oil Millers' Association (SPPOMA) estimated June 1-25 production to rise 17.19% from the previous month, traders said on Monday.
Some palm oil millers in Malaysia, the world's second largest producer, have temporarily halted production following a dramatic plunge in prices of the edible oil, a senior official from the Malaysian Palm Oil Millers Association (POMA) told Reuters on Monday.
The recent hike in U.S. federal interest rates and the return of Indonesia's palm oil exports have sparked a steep price correction from record highs hit earlier in the year, Refinitiv Commodities Research said in a note late Monday.
Palm fundamentals are bearish and market sentiment is weak on expectations of recession and rising economic risks, but the downside is limited by a weak Malaysian Ringgit and huge palm price discounts to rival soybean oil, Refinitiv said.
Dalian's most-active soyoil contract DBYcv1 rose 1.8%, while its palm oil contract DCPcv1 were up 2.5%. Soyoil prices on the Chicago Board of Trade BOcv1 gained 0.8%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
MARKET NEWS
Asian shares edged down in early trade on Tuesday with investors taking their cue from a volatile Wall Street session overnight, while oil prices climbed following last week's rout.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, June 28 (Reuters) - Malaysian palm oil futures fell on Tuesday, giving up some gains from the previous session, as expectations of rising production and fears of recession weighed on prices.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange slid 133 ringgit, or 2.7%, to 4,789 ringgit a tonne during early trade.
Palm had jumped 5% in the previous session.
FUNDAMENTALS
The Southern Peninsula Palm Oil Millers' Association (SPPOMA) estimated June 1-25 production to rise 17.19% from the previous month, traders said on Monday.
Some palm oil millers in Malaysia, the world's second largest producer, have temporarily halted production following a dramatic plunge in prices of the edible oil, a senior official from the Malaysian Palm Oil Millers Association (POMA) told Reuters on Monday.
The recent hike in U.S. federal interest rates and the return of Indonesia's palm oil exports have sparked a steep price correction from record highs hit earlier in the year, Refinitiv Commodities Research said in a note late Monday.
Palm fundamentals are bearish and market sentiment is weak on expectations of recession and rising economic risks, but the downside is limited by a weak Malaysian Ringgit and huge palm price discounts to rival soybean oil, Refinitiv said.
Dalian's most-active soyoil contract DBYcv1 rose 1.8%, while its palm oil contract DCPcv1 were up 2.5%. Soyoil prices on the Chicago Board of Trade BOcv1 gained 0.8%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
MARKET NEWS
Asian shares edged down in early trade on Tuesday with investors taking their cue from a volatile Wall Street session overnight, while oil prices climbed following last week's rout.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
"СовЭкон" отметил падение цен на подсолнечник в РФ до минимума с осени 2020 г.
Цены на подсолнечник в РФ упали до минимума с осени 2020 года, сообщает аналитический центр "СовЭкон".
По итогам минувшей недели они составили 29 675 рублей за тонну (средние цены в европейской части России, без НДС), что на 3 025 рублей ниже, чем неделей ранее.
"На цены оказывает давление крепкий рубль, рекордные запасы к концу сезона и необходимость для части фермеров освобождать мощности по хранению в преддверии нового урожая", - говорится в сообщении.
By: via Malaysian Palm Oil Council Russia
Цены на подсолнечник в РФ упали до минимума с осени 2020 года, сообщает аналитический центр "СовЭкон".
По итогам минувшей недели они составили 29 675 рублей за тонну (средние цены в европейской части России, без НДС), что на 3 025 рублей ниже, чем неделей ранее.
"На цены оказывает давление крепкий рубль, рекордные запасы к концу сезона и необходимость для части фермеров освобождать мощности по хранению в преддверии нового урожая", - говорится в сообщении.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil rebounds, weak exports cap gains
KUALA LUMPUR, June 27 (Reuters) - Malaysian palm oil futures jumped more than 2% on Monday, recouping some losses from a plunge last week, but gains were capped by weak exports so far in June.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 111 ringgit, or 2.38%, to 4,775 ringgit ($1,084.73) a tonne during early trade.
Palm declined 14.5% last week, effectively giving up most the gains for this year so far. The contract had rallied earlier this year due to a global edible oil shortage after Russia's invasion of Ukraine disrupted supplies of sunflower oil.
FUNDAMENTALS
Exports of Malaysian palm oil products for June 1-25 fell between 13% and 19.6% from the same period in May, cargo surveyors said said on Saturday.
Germany does not expect its proposal for a temporary waiver on biofuel mandates to get agreement from the Group of Seven leading industrialized democracies due to resistance from the United States and Canada, a German government source said.
Dalian's most-active soyoil contract DBYcv1 rose 1.4%, while its palm oil contract DCPcv1 gained 0.04%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.14%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
MARKET NEWS
Stocks gained in Asia, amid improved risk sentiment after Wall Street rebounded strongly at the end of last week as oil prices eased, tempering fears of prolonged inflation and the accompanying aggressive Federal Reserve tightening.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, June 27 (Reuters) - Malaysian palm oil futures jumped more than 2% on Monday, recouping some losses from a plunge last week, but gains were capped by weak exports so far in June.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange gained 111 ringgit, or 2.38%, to 4,775 ringgit ($1,084.73) a tonne during early trade.
Palm declined 14.5% last week, effectively giving up most the gains for this year so far. The contract had rallied earlier this year due to a global edible oil shortage after Russia's invasion of Ukraine disrupted supplies of sunflower oil.
FUNDAMENTALS
Exports of Malaysian palm oil products for June 1-25 fell between 13% and 19.6% from the same period in May, cargo surveyors said said on Saturday.
Germany does not expect its proposal for a temporary waiver on biofuel mandates to get agreement from the Group of Seven leading industrialized democracies due to resistance from the United States and Canada, a German government source said.
Dalian's most-active soyoil contract DBYcv1 rose 1.4%, while its palm oil contract DCPcv1 gained 0.04%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.14%.
Palm oil is affected by price movements in related oils, as they compete for a share in the global vegetable oils market.
MARKET NEWS
Stocks gained in Asia, amid improved risk sentiment after Wall Street rebounded strongly at the end of last week as oil prices eased, tempering fears of prolonged inflation and the accompanying aggressive Federal Reserve tightening.
By: via Malaysian Palm Oil Council Russia
воскресенье, 26 июня 2022 г.
Malaysian Palm Oil Council Russia's Post
High commodity prices boost Bursa activity
https://mpoc.org.my/high-commodity-prices-boost-bursa-activity/
In times of volatility, the increased trading in FCPO shows continued confidence from the palm oil industry as well as the global trading community in FCPO as an effective risk management tool. HIGH commodity prices have boosted the trading of crude palm oil futures (FCPO) on Bursa Malaysia although in terms of equities, average daily […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/high-commodity-prices-boost-bursa-activity/
In times of volatility, the increased trading in FCPO shows continued confidence from the palm oil industry as well as the global trading community in FCPO as an effective risk management tool. HIGH commodity prices have boosted the trading of crude palm oil futures (FCPO) on Bursa Malaysia although in terms of equities, average daily […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Are days of ‘super-high’ CPO prices gone?
https://mpoc.org.my/are-days-of-super-high-cpo-prices-gone/
PETALING JAYA: Commodity prices that stoked inflation are falling fast and this includes crude palm oil (CPO), which saw prices tumble by almost a quarter in less than a month. On June 22, Malaysia’s daily average CPO price fell to the lowest level this year at RM5,046 per tonne, about RM3,000 lower than the record-high […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/are-days-of-super-high-cpo-prices-gone/
PETALING JAYA: Commodity prices that stoked inflation are falling fast and this includes crude palm oil (CPO), which saw prices tumble by almost a quarter in less than a month. On June 22, Malaysia’s daily average CPO price fell to the lowest level this year at RM5,046 per tonne, about RM3,000 lower than the record-high […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Crude palm oil's (CPO) price decline to below RM5,000 a tonne on Wednesday (June 22, 2022) was sharper than expected, possibly driven by slower global economic growth concerns and as CPO prices tracked price losses of crude oil and rival edible oils, besides taking cue from rising palm oil exports from Indonesia.
KUALA LUMPUR (June 23): CGS-CIMB Securities Sdn Bhd said on Thursday (June 23, 2022) crude palm oil's (CPO) price decline to below RM5,000 a tonne on Wednesday (June 22, 2022) was sharper than expected, possibly driven by slower global economic growth concerns and as CPO prices tracked price losses of crude oil and rival edible oils, besides taking cue from rising palm oil exports from Indonesia.
"The benchmark active three-month futures palm oil contract for September [2022] delivery fell RM482/tonne, or 9.68%, to RM4,498/tonne, its sharpest daily loss since Jan 2020," CGS-CIMB analysts Ivy Ng Lee Fang and Nagulan Ravi wrote in a note.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR (June 23): CGS-CIMB Securities Sdn Bhd said on Thursday (June 23, 2022) crude palm oil's (CPO) price decline to below RM5,000 a tonne on Wednesday (June 22, 2022) was sharper than expected, possibly driven by slower global economic growth concerns and as CPO prices tracked price losses of crude oil and rival edible oils, besides taking cue from rising palm oil exports from Indonesia.
"The benchmark active three-month futures palm oil contract for September [2022] delivery fell RM482/tonne, or 9.68%, to RM4,498/tonne, its sharpest daily loss since Jan 2020," CGS-CIMB analysts Ivy Ng Lee Fang and Nagulan Ravi wrote in a note.
By: via Malaysian Palm Oil Council Russia
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