KANDLA 6 May:RBD Palm 17369 Ton/Soy 63008/CPO 17447/SunOil 28548/PFAD 12811MUNDRA:Soy 3674/CPO 16049/Sun 5171/CPKO 2985/PFAD 3966/RPS 2895CHENNAI 13 May:CPO 8769/RBD 32574/Sun 12559/CPKO 1981
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KLC PALMOIL OPENS STEADY
8:01#KLC+11(JULY3826)ECBOT:SOYOIL+0.23(43.63)ML+0(373.3)SD+1.7(1216)CHINA:SOYOIL-52,ML-9,SD-1,RBD-86ARGN FOB:SOYOIL:M875$/J868-28$SFOIL:M895$+0BRZL SOYMEAL:J431$+20
ARG/BRZL SOYOIL/SOYMEAL BASIS/FOB-
SOYOIL Basis/Fob vs CBOT:ARGENTINA-May-370/-450(Fob Slr 875.23$/Byr 857.59)June-400/-450(868.61/857.59)-28$July-430/-510(862.00/844.36)-18Aug-400/-600(875.45/831.35)-38Sep-400/-600(880.52/836.43)-37BRAZIL-Jun NS/-350(NS/879.64)July-370/-520(875.23/842.16)-43Aug-380/-600(879.86/831.35)-45Sep-380/-600(884.93/836.43)-44 ARGN FOB SUNOIL:MJ Slr 895$/Byr 855+0$ SOYMEAL Basis/Fob vs CBOT:Argntna(46.5%):Jun No Slr/+14July NS/+5Aug NS+3Brazil Plt(48%):Jun+18/+13(Fob Slr 431.33$)+20$July+8/+6(420.31)+11Aug+9/+4(419.76)+11Sep+9/+4(419.09)+11USA Gulf:JJ+30(444.56)+7
*S&P 500 to test 4700/4600 before US Election*Summer 2023 Hottest on Planet of 2000yrs*Powel says:Fed restrictive Int Rate policy working good/Inflation in range
India March Wheat Stock dropped to 16yrs low
Argentina Central Bank cuts Int Rates after Mth Inflation Cools for 4th mth in row-Now applicable Rates 40% vs earlier 50%/5th major cut since Dec new Govt formed
Analyst David Ng see No resistance for KLC to move down to 3750-more fall depends on strength of Malaysia Prdn recovery-weaker Exports signals Stocks to mount further on lack of Extra buy of main Users-KLC pares All run of mth/finish Tuesday at 30April closing 3814 RM-Cbot now in Red
US Soy Plants Assn Nopa appeals US President to hike China’s UCO Import Duty, currently 15.50%-Process Giants Cargil Bunge ADM ect join hands with Nopa-argues cheaper UCO Imports undercutting US crops usage in BioFuels
Brazil Conab dismiss claims of Soy crop loss on South Area heavy Floods, causing Floods-rather hikes Crop size by 11.60 LT to 1476.85 Lac Tons-too hikes harvest area by 5 LH-say Southern Zone Yields reported higher to LY so crop size seen larger to Last year-average Yields still 8% below LY
Brazil SoyOil discounts to Cbot averaged $118 in April-Half of LY $237 Ton-Soybean Export Premiums to Cbot narrows to $ 5 Ton vs Feb mth average $37 Ton-SoyMeal Export values little away to Cbot-Brazil SoyMeal now $109 cheaper to Last Year-Soybean $55 off to LY $488-SoyOil $48 Ton to LY $955