Palm oil prices continue to rise, which supports the soybean and sunflower oil markets
Global markets continue to gradually increase prices for vegetable oils, but the volume of offers in the current season is significantly higher than last year, so the markets can quickly become saturated, a vivid example of which is the fall in oil prices.
On Tuesday and Wednesday, oil prices on world stock exchanges fell amid a significant increase in production and reserves in the United States, ignoring the rapid increase in gas prices in Europe, which in the spot market reached a record рекорд 1,064 / thousand m.3.
According to the EIA, oil production in the United States for the week increased by 4.7% to 11.1 million barrels/day, which is still 2 million barrels or 15.3% lower than the record "docked" level of February 2020, 13.1 million barrels/day. Oil reserves increased by 4.58 million barrels, although experts expected them to decrease by 2 million barrels.
Since Tuesday, October palm oil futures on the Malaysian stock exchange have risen 1.4% to 4,455 ringgit/ton, or.1,064/ton, on forecasts of a significant increase in exports in September compared to August by 34-43% (according to AmSpec and ITS surveyors).
December soybean oil futures on the Chicago Stock Exchange have risen 1.2% to вів 1,281/ton since Tuesday, following soybean prices, which, despite good yields and high harvesting rates, are becoming more expensive on data on the sale of a batch of 350 thousand tons of soybeans from the United States to China.
In Ukraine, the supply prices of sunflower oil increased to 1 1320-1350/ton FOB, but the demand prices do not exceed F 1300/ton FOB.
On the Dalian stock exchange, palm oil futures fell 0.4% to.1,331/ton yesterday, while soybean futures fell 0.3% to. 1,414/ton.
The rise of the dollar against a basket of world currencies to an 11-month high contradicts analysts ' concerns about the possible suspension of budget payments and the pre-default state of the US economy due to the delay in the Congressional decision to increase the level of public debt, which has already exceeded the permissible level of 2 28.4 trillion.
Therefore, we can expect an increase in the impact of macroeconomic indicators on the markets in the near future.
