PalmOil marks strongest recovery in March 2024 from 3yr lows in 2023:*CPO Kandla hit $820 low in 2023–March mth high $1045*RBD hits $790 low in 2023 Year–now March high $1025*SoyDegum 2023 Year low $903–March high $1022*SunOil marks 3yrs low $870 Ton in 2023 Year–hit $985 high in March
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*KLC past 39mth History: gains in 19mths/drops in 20mths to previous mth*Cbot Soy/Meal shows Ist recovery in March after loss in JanFeb
*KolhuOil still Rs 5kg over Indore Ref/needs to trade Rs 5kg below for Refining*RBD Once cheapest VegOil/now status change/RBDeo now widely mixed in Olin
Market Tone:*Kandla RBD adds Rs 5kg in March/CotRef adds Rs 2kg-now CotRef/RBD spread fade*Kandla Olin/SunOil trades at par-SunRef trades Rs 12kg over RBD in Jan mth*Kandla SoyRef adds Rs 4kg in March/SunOil adds Rs 5.50kg so Soy SunRef very close*Kolkata KolhuOil stays Rs 25kg over RBD
Cbot/KLC/Brent shape Opposite to Last Year-Cbot now 700pt below Last Year-KLC 500 RM hot to LY-Brent now $12 Barrel costly to Last Year
BJP Govt Economy growth claims reflects only in Share Indexes-Sensex Values now 3 times to May 14 of 24217pts-But Rupee Value drop 28% Rs 23 in BJP Rule
Brent/Cbot tone opposite-Brent 15% hotter to LY-Cbot SoyOil 16% bearish to LY
India INR/Malaysia RM shows extra weakness in week as US Dollar Index continues Firms-USDX begin mth below LY but finally more firm to LY-INR more weaker to Last Year/hot Share Index fails to shape INR stronger
Cbot SoyOil fails to trades Bull/Brent Petro effect:-marks 49.80cent high in week/drops 218pt from high to low-Brent drops $2 from mth high
SouthAmerica higher Soy crops effect:-Cbot SoyMeal continues to exit from high of mth past 5mths-finishing mth below past mth:sign of excess supply