*China March Soybean Imports from Brzl doubled vs Last Year *Brent hovers around $87 as fears of wider MiddleEast conflict fades-thou Funds feel tightening Supply Demand nearby
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Brazil nearly 90% Soy crop harvested/Argntna 14% area crop harvested
Palm past week big drop fuels buying pace-Malasia 1/20 April Exports grows 10% over March but Food use demand elevates 20% on higher major User Nations buy at dip
KLC rebounds after 6 days of losses in Row as dip offers opportunity to buy-Robust Exports against April weaker Prdn adds support-KLC drops below 4000 RM after many mths
Argtna SoyOil supplies for Export begins elevating on mounting supply for Crush-March Soy crush 28% more to LY 23.20 LT-April crush may further elevate to 40 LacTon, pushing Oil supplies larger for Export-Argntna Soy supplies bigger so Farmers hikes selling-so Oil/Meal supplies now large
India now serious to hike VegOils Imports as Soy PalmOil price dip helps Refiners to grab more supplies-April SoftOils Imports likly very close to PalmOil/clear signal PalmOil demand to revive on Olin/Soy spread fading-April SoyOil volume to elevate on low price spread to Sun PalmOils
Athena TradeWind say:-KLC rebounds after long drop but day low signals sentiment weaker-Plam Futures still has logics to drop to 3750 RM, gud to build longs-CPO quotes shows Refiners $15 disparity-Russia more attacks on Ukraine logistics may keep SunOil firmer on low supplies availability
Cbot rebounds as US summer Crops sowing area uncertainty alert Funds-many Expect wide changes in USDA June sowing report-current weather favours higher Corn sowing thou crops planting depends on further development of Warmer weather/drier LaNina pattern-Cbot today rally reflects concern
India VegOil Mkts continues to weaken as OverSeas Cash Prices/VegOil Futures resist rally thou KLC Cbot adds Monday-April high Temperature dents demand-Palm SoyOil supplies shows recovery so Trade continues to stay away from fresh buy-RBD/SoyRef ease Monday-KolhuOil breaks Rs100 Price tag
CBOT JULY:H/L OIL:46.12/44.91,MEAL:346.7/338.3,SEED:1182/1159CBOT CORN+6.2(My439)WHT+20.0(My570)CANOLA+17.8(JY640.6)PETRO:J81.90$(-0.32)GD:J2346.4(-67.4)SL:My27.245USDX 105.912-0.073DOWJN 38239+253