Market Dynamics:-Cbot SoyOil Spot staying below 45cent-Soybean/Meal marks fresh multi-mths low-Soybean/Meal Funds more in panic-Cbot/KLC rebounds last night on strong Cash Mkts
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Trade sources say:-India Refiners making money so Sun SoyOil bulk deals heard-Sun follows Palm Soy so Refiners buy Interest elevates
Athena TradeWind feel:-Funds can buk Profit on KLC crossing 3950 Ringit-if cross 4250 RM, gud to make shorts
Gapki reports:-2023 Year Indonesia CPO Prdn advanced 33 LT vs LY 467.30 LT-2023 Planted area expands 5.40 LH-El Nino:No major impact so Prdn rose-Local PalmOil usage adds 19 LacTon to 231 LT-PalmOil usage in BioDiesel reported 16 LT higher vs LY 90.48 LT-BioDiesel usage exceeds Food Use
*Petro adds $1 Barrel as Opec continues with Prdn cut so Funds see supply crisis*State Bank say India Poverty ratio had drop 4.50/5%
Cbot Corn staying close to $4 Bushel-Last Year bumper Carry adds pressure on Cbot-demand for Feed slumps as US Cattle Herds Population dropped to 7decade low
CBOT MAY:H/L OIL:46.12/45.02,MEAL:333.9/323.3,SEED:1161/1138CBOT CORN+2(My423)WHT+9.5(My584)CANOLA+2.8(MY591.1)PETRO:A78.87$(+1.29)GD:A2044.1(+5.2)SLR:M22.532USDX 103.760+0.010DOWJN 38972-96
CBOT CLOSE
CBOT(CL)SOYOIL+0.51(M44.91)+0.51(MY45.53)+0.55(JY45.94)MEAL-6.6(M327.8)-3.7(MY324.9)-3.1(JY328.3)SEED-4.7(M1131)-4.5(MY1140)-3.7(JY1151)NYBOT+4.00(May98.80)
JAI HIND!! JAI BHARAT!!
28-2-2024
UPDATE: 1:10AM#CBOT:SOYOIL+0.51(44.91)+0.51(45.53)+0.55(45.94)MEAL-5.2(329.2)-2.6(326.0)SEED-2.0(1134)-2(1143)CORN+3.4WHT+10.4= :RKS