*INR revisit All time low 83.45/more drop on way*Petro rally halts:run limits to $2.70 since 31 March*Ukraine VegOil Assn predicts new Sun crop to drop to 120 LT as Ukraine see hard to ship out Cargo/Crush capacity lost on Russia Bombing
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*Cbot Soy drops despite NOPA reports March US crush highest for any Mth/5.70% more to LY *US new Soy crop sowing begins/3% of area sowed:pace very fast than Last Year
Malasia Food-Use Palm CPO/Olin supplies dropping each mth since Oct-March CPO stoks 6 LT less vs Oct 13.94 LT-Olin stok 1.50 LT below Nov 3.67 LT-CPO shortage to hit All Products Prdn in April, unless supply recovers at fast pace-RBD Olin stok short Still Malasia RBD $45 ton cheaper to CPO
SPECIAL REPORT-KLC Past History:
KLC in April never finish higher than March closing-All gains in April fades mth end-Lowest April drop 11 RM-highest drop 405 RM in Year 2023-Finish April over March only 2 times in Covid 2021-2022 yrs-Risk:April closing may below 4000 Ringit/still wud be 600 RM more to LY
*India Corn buy from Ukraine slows in March to 14273 Ton/Jan Feb buy 1.09 LT*Ukraine SunMeal:No buyer in Asia/only Europe buyer-China corners 30% of Ukraine Sep/March 27.75 LacTon shipments
US season Soy sales historical low:18.50% 93 LT below LY 501 LT-Europe:No pending Sale-China pending shipment finishes in April
Govt Mathematicians push Food security at Risk-Wheat season begins with ever-low 75.02 LT stok vs 3yrs ago 295 LT-Mustard season begins with ever-high stock
Mustard season begins with very low Korea Thai Meal buy:*Korea biggest buyer:-March mth Korea Import drops to 16384 Ton/lowest of 5yrs-March:No Bulk Vessel loaded-April 1 Vessel due 43000 Ton/Containers Loading very limited-May:No Vessel lineup*Thail dropped Vessel load buy/asks few Container
*Brzl Soy supplies elevates/84% crop harvested *Malasia Ringit drops to record low as Funds see US FedBank keeping Rates higher for longer weeks
Market Dynamics:-Cbot SoyOil all mth finish session mth low-marks new low by breaking past low 200pts in 3 days-Soy too leaving past High Low/marking new low each day-Kandla SoyDegum at mth low-PalmOil Fob/Cif too drops to new fresh low-Asian Currencies at Risk as USDX hits new mth high