3:33#KLC(CLS)+46(M4029)+61(A4017)+62(MAY3969)+61(J3904)MAY:O/H/L:3916/3981/3911,29081 LotECBOT:SOYOIL+0.04,ML-2.7,SD-5.2RM 4.7425 BRNT 81.92
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Malaysia 1–29 Feb 2024 vs. 1-31 Jan 2024 palm oil export (in mt)ITS: 1,106,054 vs 1,286,509 (-180,455 or down 14.03%)Amspec: 1,000,348 vs. 1,227,101 (-226,753 or down 18.48%)SGS: 996,845 vs. 1,166,973 (-170,128 or down 14.58%)
Brazil Feb Soy Exports may hit 85 LacTon/20% more to Last Year but Meal Exports wud shrink 4 Lt to 14.30 LT
*US Mississippi River water stoks drops further on lack of Rains/Water level drops unusually*USDA may stay with US season Soy Export estimates-wud hike crush estimate, offsetting lower Exports
*Malasia RM weakens 3.70% in 2024/still Experts see sharp recovery by Year end on hope US IntRate cut *Argntna GroundNut Crop to recover fast from Last Year drop at 6.29 Lt, may equal 2yrs ago over 10 LacTons on gud weather
Canada Canola crush elevating on US higher CanolaOil demand-Aug/Jan crush 55.14 LT/12% more to LY-Canada shipping less Canola to retain more supplies at Home for Crush
CotRefined positive reaction on season Prdn dropping 25% from LY 4.27 LacTons-Prdn since Oct dropping fast vs Last year-Further Prdn to drop more
MPOC reports India Jan VegOils stok drops to 8 LacTon vs LY 10.65 LT-stoks peaked 13.75 LT in Sep/now 42% below peak-SunOil stok Half to LY 2.29 LT-Jan SoyOil Stok matches Jan 23, Dec 23
SoyOil Refiners reaps very high margins on Ports Stok drop-Plant RefOil Quoted Rs 9kg over Import Cost
*Trade Sources feel India VegOil mkts can see Profit taking after Rally *Amspec reports Malasia Feb PalmOil Export drops big 2.55 LT/21% so demand drops faster