ITS reports:-Indonesia March PalmOil Exports 2.50 LacTon more vs Feb 15.90 LT-CPO demand dropped to 1.91 LT/RBD Olin 7.42 LT
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Cbot Soy/SoyOil dropped to 4yr low this week on SouthAmerica higher supply pressure-concerns mounting on Argntna Rains in mid of harvest
*Brzl proposal to Tax Riches more progressing in G20*Petro crash 3% as demand worries weighs on MiddleEast supply concern*ReserveBank say:India Agri Loans needs to elevate 25% on Monoon Rains above Normal
Athena TradeWind say:-KLC 2024 year Range likly 3250/4450 RM, more chances to trade in low range-INR heading to 84, pushing Import Costs-SunOil Cif need to correct $30/50, if matures:India wud rush to arrange 10 LT supplies for nxt 4mths
VegOil Futures drops more in April than India Cash Prices-*KLC drops 4.50%-Fob Malasia lost 4.33%-KandlaRBD ease 1.50%*Cbot SoyOil crash 6%-Argntna Degum eases 1% $7 Ton-Kandla SoyRef 2.60% off to 31 March-so Physical Traders concern remains tight nearby/spot Palm SoyOil supplies
India VegOils:KLC/Cbot crash push India Mkts on down track–SunRef Kakinada back to 31March Rs 930-Kandla SoyRef now Rs 2.50kg below 31March/dropped Rs 5kg from mid mth high Rs 98.50-Olin Ist adds Rs 3kg/drops Rs 1500 Ton more than run-CotOil manage to trade Rs 1kg over to 31 March Rs 92
KLC big 10% crash in April brings back PalmOil in comfort zone-CPO/RBD Kandla defered mths now quoted below Soy-CPO still quoted at par to SunOil-CPO/RBD still costlier in Fob positions-Palm further slide wud pave way in India demand back to Palm-Kandla Plant RBD now very close to SoyRef
Argentina Brazil Soy harvest delays caps Cbot to slide further after dropping 300pts in April mth:-Petro 3% crash too caps gains of harvest delay-USDX eases little but still USA Exports costlier to Other Origins-US ideal Sowing Conditions:need to focus further on Rains/Dryness forecasts
CBOT MAY:H/L OIL:45.31/44.56,MEAL:340.7/335.3,SEED:1155/1141CBOT CORN-0.7(My430)WHT-12.7(My537)CANOLA+0.3(JY623.8)PETRO:J82.15$(-2.68)GD:J2388.4(-19.4)SL:My28.400USDX 105.765-0.300DOWJN 37753-45
CBOT CLOSE
CBOT(CL)SOYOIL+0.09(MY45.00)+0.08(JY45.56)+0.05(A45.74)MEAL+3.4(MY338.7)+3.0(JY339.8)+3.3(A340.6)SEED+4.5(MY1149)+4.2(JY1164)+5.0(A1165)NYBOT-1.73(May79.56)