*US SoyOil weekly shipments suddenly spikes as buyers seek supplies on SouthAmerica hotter tone *Brazil May Soy shipments slowing:still much higher than USA any mth shipments in any yr
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Funds attempts to push KLC 4000 RM failing past 4 days/high supplies weighs
Argentina slow Soy harvest pace drags season Full harvest to late May/early June-farmers harvest 49% area in 1 mnth-implies stock build wud take more time-Argntna supplies wud be more large when US finish sowing-delay to Last Year harvest now narrowing
South America Soy supplies thou at Weather Risk/Still buyers see plenty of US supplies in season so keep New buying at previous week level 2.70 LT-weekly Exports dropped as buyers defers shipments
US Weather Dept reports:-Crops area weather leaving dryness/supports Field works-Soy area dryness narrowed to 7pc vs mth ago 21%-more than 50% area sowed/trails 9% than Last Year-implies US crop maturity wud delayed/harvest may begin at later stage
India EdibleOil demand recovery wud take another 1-mth when Showers cools weather-Kandla SunOil may shy to add more on higher supplies/demand limited in Sunny days
KolhuOil unbeat run continues-rally driven by Oil Mills chasing supplies:offers high prices to encourage Farmers to sell more
India heat wave resists VegOils consumption so mkts very slow react to SoyOil overseas sharp run-Brazil ready SoyOil shipment $230 Ton Rs 19kg hotter in May but Plants adds only Rs 4kg-KLC rally in doubt so Trade buy cools/least to add in May-Kandla RBD Olin gains limited to Rs 1.50kg
*Petro/Brent dropped $5 Barrel in mth*PayTm may off upto 20% of Work Force*Cbot Wheat 10 mth high on Russia crop deteriorating condition
*US weekly SoyOil shipments reported 20000 Ton/Great Volume after 12mths gap*US President Candidate Trumps assure Petro Co’s more drilling areas/move against Biden favor for higher BioDiesel use