Author Archives: 919810285269

VegOils Futures Cools as KLC funds smell supply rise/Cbot Funds wait Govt testimony UCO Duty hike

Malaysia Palm supply recovering/Proved-Spot KLC stays 131 RM over 3rd Mth end March-Premium narrows to 51 RM April end-today MidDay spread 33 RM-Spot KLC premium fades signals Supply improved

Brazil Jan/April Soy Exports 10% extra to Last Year-Meal shipments 21% more-SoyOil shipments trails 38% vs Last Year 5.56 LT

*USDA says:US Soy crop area dryness easing *USA Soy farmers Lobby urges President to approve Tariffs hike on Chinese UCO Imports as it dents Soybean usage for BioFuels

India Ports/Trade Pipeline stocks continues to drop on low Import so India excess Supplies burden fades-April stok All Positions estimated 11 LacTon less to LastYear 33.74 LacTon-April stok match 2yrs ago*April end Soybean/Mustard Stoks reported 161.44 LT/only 10 LacTon short to Dec 171 LT

Doubt in India season end Soybean stoks below LY 24 LT-April stoks thou 5.65 LacTon less to LY 61.04 LacTons-May/Sep Soy crush unlikly to equal Last Year 40 LacTons-8 LacTon average crush unlikly-USDA predicts India new crop higher to CY so nxt season supplies may exceed 2023-24 season

India May mth VegOils import likly 2 LacTon more to April 13.05 LacTons-but mth supply wud add only Half of extra Import on low Carryover of April Ports/trade Pipeline stoks-total Local+Imported Oils+Trade, Pipeline supplies stays close to 42 LT past 3 mths, 6 LacTon drop to Jan mth 47.93 LT

-stocks dropping mth-mth past 4 mths-Plants March SoyMeal stok 6.19 LacTon/lowest of 6 mths-mth/mth drop continuing past 6 mths-Plants March SunOil stok 1.43 LacTons/highest past 7 mths

Argentina Trade books 48000 Ton SoyOil for June shipments-additional 4.80 LacTon Registry for June shipments-23/24 Season Soybean Exports may total 27 LacTons-SoyOil mthly Exports Registry much below past 5yrs average*StoneX fear:Brzl rains/floods to cut Soy crop size 30 LacTons