Quotes palm and soybean oil played a fall the previous week

2021-02-09 12:03:13
Machine translation
Quotes palm and soybean oil played a fall the previous week

In anticipation of the updated balances USDA soybean and vegetable oils, as well as on the background of delayed harvesting soybeans in Brazil, quotes, soybean and palm oil resumed its growth over the last three sessions played a fall the previous week. Markets also supported the recovery in oil prices.


Yesterday, futures for Brent crude rose 1.8% to 61 $/bbl and WTI – 2.1% to 58.5 $/barrel.


the April futures for palm oil on the stock exchange in Malaysia yesterday rose by 1.8% to 3435 ringgit/t or 845 $/t, which is almost at the level of the previous week, when prices first fell 8.2%, and then recovered by 6.5% on expectations of a boost exports and the reduction of inventories in the first decade of February as a result of too slow to increase the production.


On the Chinese stock exchange in Dalian futures palm oil rose 1.6% to 1035 $/ton, and soy – 1.3% to 1203 $/t


Despite the end of the rain, the harvest in Brazil has accelerated, and as of February 4, soybeans collected only 4% of the area compared to 16% on the same period last year.


the harvesting supports prices in the soybean complex, and yesterday on the stock exchange in Chicago March delivery rose:

  • in soybean oil by 3.5% to 1016 $/t,
  • to soy – 2.2% to 514 $/t,
  • soybean meal 1.6% to 484,2 $/t


Rape on the stock exchange in Paris also continues to rise. Prices for the may contract rose by 5 €/t to 444,75 €/t, August – 4,25 €/t to 407,75 €/t


against the background of low export demand, prices for Ukrainian sunflower oil remain at 1270-1290 $/t FOB, but this week they can grow following a sharp rise in soybean and palm oil.

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