*Kandla Cif SoyOil following Argntna-May Kandla drop $27 similar to Argntna loss*Malasia short PalmOil supply concern ease in April/KLC drop reflects-Indonesia CPO drops $40 Ton in April after adding $110 in Feb March-Malasia Olin drops $37 Ton in April after adding $115 Ton in Feb March
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Argentina Report Card-1-20 Apr Shipment gains Speed on Crops harvest-Soyoil:2.66 LT/India share 74%SunOil:31790 Ton/India 58% shareBiodisel:75486 Ton/Netherland 60486 TonSunMeal:47400 TonSunSeed:43894 TonSoyMeal:12.20 LT shipped so far/March Full Month shipment 15.90 LT/LY April 17.12 LT
Argentina Ships 8 Vessels+Paraguay 3 Vessels 2.10 LacTon Soyoil to India in 1-20 April:-93000 Ton Soyoil 5 Vessels in Loading*SUNOIL:18500 Ton 1 Vessel shipped-4 Vessels 63000 Ton in Loading for India
Argntna Brzl SoyOil discounts to Cbot narrowing on Cbot big crash:-Argtna Brzl discounts eased $150 since Jan peak $220 Ton-Brzl more serious on season peak supply so June July discount double to spot 250pt-Brzl BioDiesel blend hiked still offers June July Cargo at wide $110 discount to Cbot
Malaysia Apr 1-20 2024 vs. Mar 1-20 2024 palm oil export (in mt)ITS: 905,515 vs 821,820 (+83,695 or up 10.18%)Amspec: 900,290 vs 787,534 (+112,756 or up 14.32%)
Last Year KLC continued to drop vs Prev mth in Mar-Apr-May
KLC year high in March mth delayed by 3 days/hit year high 4443 Ringit on 3 April-But April KLC losses outstrips April 3 days initial rally-KLC April losses exceeds March 227 RM rally-Last Year KLC lost 420 Ringit in April-Last Year KLC continued to drop vs Previous mth in March April May
US Dollar Index benchmark for World Currencies-USDX firms 1.64% in April-Malasia RM Value drop 1.23%-INR weakens 0.29%-INR/Ringit/USDX hit high of 2024 in April-INR still very close to 31 Dec finish 83.20-Brent run in April proved hard for Rupee but record Forex reserve limits INR drop
Brent rally fails to fuel VegOil-Brent last week finish unch to 31 March $87.48-All initial run on MiddleEast tense fades in few days-Still KLC dropped 6.40% in April/Cbot crash 7.45%- Proved/Supply weighs on Outer factors:-Brent now 13% over Dec-KLC adds 5.56% since Dec-Cbot drops 8.50%
*Iran SoyMeal buy push Soybean/SoyMeal in India-but Kandla SoyRef drops Rs 3kg on Overseas fall*CPO Cif drops $60 Ton so RBD drops Rs 2.50kg
MustardDoc advances Rs 1000 in April on low Mustard crush-Mustard drops Rs 250/Cake Holds on lower crush-KolhuOil drops Rs 3kg with fall in Palm Soy