-SoyMeal reaps benefits of Grains crops loss-Corn Wheat competitiveness narrows so Argntna Meal soars highest since Jan-SoyOil high demand/Plants high margins to push World crush in April/Sep, pushing SoyMeal supplies to record high 1350 LT
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World SoyOil Prices tone softer-
-Jan/May Brzl Rotterdam average Prices 15% below LY-Argentina level 17% below LY-USA post 24% steep decline-higher 2024 supplies, alongwith cheaper SunOil kept SoyOil in bearish Zone-Cbot Jan/May average Mth closing 46.01cent trails 17.50% vs LY 55.07cent
*Ukraine SunSeed Processors say:Processing across World has peaked/May Aug crush wud trails to LY *Experts see April/Sep World major 8 VegOils supply may tighten on marginal 20 LT prdn growth, much lower than Past yrs Trend
Palm FFB Prdn recovering so PKO supplies too begins rising/resulting $100 Ton drop in Roterdam in May mth-CopraOil in high demand so price fall very limited $10 Ton
China Soybean demand shrinking/Proved-April 85.72 LT Import 4 LT short to LY 89.62 LT-Jan/April Imports trails 31 LT vs LY 319.90 LacTon-2024 Last Qtr Import growth offsetted in Jan/April
PalmOil Star Speakers Intelligence Test begins now/only 5 days rests in May-MPOC predicted KLC bottom 3650-Sandip Bhan said:KLC bottom 3700-KLC Friday finish 3886 RM so need to correct atleast 250 RM to justify MPOC/Sandip Bhan Intelligence-KLC deep correction depends on Malasia stock build
SUNOIL SUPPLIES-
BlackSea Origin SunOil supplies to tighten in May/Aug–-User Countries SoyOil imports set to elevate in May/Aug on limited SunOil supplies-SoyOil wud easily grab lost market Share next 6-mths*SunOil supply character:-Supplies elevated in 1H Sep/March/2H supplies to tighten in 2Half of season
MPOB ANALYSIS-
Mpob reports reveals Malaysia stocks soared 1.87 LT in May over April Last Yr-highest Stok build of 6yrs-April 2024 Stock reported 2.47 LacTon extra to Last Year 14.97 LacTon-based on LY trend, Prdn growth pace, slower demand, May 24 stock can surpass easily 19 LT-KLC may see high pressure
11:30#CHINA:SOYOIL-106,ML-37,SD-33,RBD-54