KLC 2 months in Row posts run after loosing 174 RM in Dec mth-Jan Feb gains capped to 137 RM on SoyOil big supply pressure-lower demand too resist Funds to run fast on Palm short supply
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KLC PALMOIL OPENS HIGHER ON CBOT/CHINA SUPPORT
8:01#KLC+27(MAY3890)ECBOT:SOYOIL+0.23(45.25)ML+2.0(330.6)SD+10.0(1155)CHINA:SOYOIL+42,ML+31,SD-22,RBD+76ARGN SOYOIL FOB:Mar860$/Apr849$
KLC continues to Impress India Mkts:-KLC last day adds 15 RM so Olin/Sun/Cot/RBOils adds fresh-CotRef leads Rs 7kg run in Feb
Experts foresee Brzl Soy crop below 1500 LT-35% Crop harvested/500 Lt supply added in Chain-Feb Brzl Soy Exports likly 50 LT
*Economy Experts warns:Any negative News can halm Equities by 10%*Petro revives 1% on possible risk rise in RedSea shipping Crisis*BirdFlu hits US MainLand 1st time
Soy hits fresh 52 weeks low in Top 3 Origins-Brzl $407/Argntna 391/USA 446-US Spot Soybean now trades $140 Ton below Last Year $551/Meal trades $150 below LY $503
SOYOIL Basis/Fob vs CBOT:
ARGENTINA-Mar(to CBOT May)-600-750(Fob Slr 860.23$/Byr 827.17)Apr-650/-870(849.21/Byr 800.71)May-760/-900(824.96/794.10)+18$JJ-760/-900(833.12/802.25)+18BRAZIL-Mar(to CBOT May)-450/-760(893.30/824.96)Apr-650/-800(849.21/816.14)+10May-700/-850(838.19/805.12)+10June-700/No Byr(846.35/NB)+20 CBOT SoyOil share H: 39.87% prev 39.86%
7:35#ECBOT:SOYOIL+0.30,ML+1.9,SD+10.6CHINA:SOYOIL+40,ML+30,SD-13,RBD+76INR 82.86RM 4.779+0.04%WTI 77.60+0.02BRENT 81.69-0.01
Soy hits fresh 52 weeks low in Top 3 Origins-Brzl $407/Argntna 391/USA 446-US Spot Soybean now trades $140 Ton below Last Year $551/Meal trades $150 below LY $503
India Markets Tone-
Kandla HighSeas Soy continues Run/adds Rs 1kg-BlackSea SunOil drops to mth low $750-RBD hits fresh high of mth Rs 87-SunRef continues to trade below SoyRef-RBD cheapest of all VegOils-Jaipur KolhuOil remains in weak Zone on arrival surge-KolhuOil/SoyRef spread narrows to Half vs Jan Rs 14