Indonesia to continue CookingOil Prices Ceiling-DMO Policy to continue for few more mths-No hike allowed in Local Oil Prices so Refiners wud continue to sell below Plant Cost-March/Aprl Local Sales Target to continue at 3 LacTons
Category Archives: Reports
Brazil to keep 60000 Ton mth Extra SoyOil reserve for BioDiesl, begining 1 March so lesser crop, higher stoks retained at Home for domestic use to lower surplus SoyOil for Exports
India Weather till May may remain higher than Normal so risk of Yields drop-India face Challenges of Frequency/intensity of Floods/Heat Wave/Dryness-Warmer March/May pose risk of high Power demand in Summer
*India HPS demand for Ramzan Festival yet to pickup*Ukraine Ships 1 big Corn Vessel to India after long gap*PalmOil Trades higher to Rival SoftOils so Origins may see lesser Export in FY 2024
*Argntna Soy Complex Feb Export Income 64% more to LY/22% more to Jan mth*Argntna Soy Plants idle Capacity still 50%
*DowJones drops as Funds wait FedBank Chairman Comments on Economy*ChickPea in high demand so India Ukraine Canada Russia Australia Farmers hikes sowing
BRAZIL SOY HIGHLIGHTS-
*Brazil Soy Crop Size debate continues:-Broker StoneX see 1515 LT/AgRural see 1439 LacTon *Brazil:675 LacTon new Soy crop supplies adds in Chain*Brazil Ports Soy Premiums to Cbot revives on higher Overseas demand *Brazil:Wet season Showers to continue few more days:helping Crop to update Numbers
Trade Feels:-Ports Soy/PalmOil supply may remain tight for few more days-OverSeas Markets shy’s to Run-India Trade may witness few more Rupees add in Quotes-Mustard supply pressure to begin 1 Fortnight later
March mth begins with Risk of more Losses-Petro drops on demand drop fear despite Opec extends Prdn cut-Gold cross $2100 on Fed Int Rate Cut bets-Soy Complex thou adds but fear of South America higher Supplies weighs/begins session higher but pares gains as Brzl large supplies enters chain
Sandip Bajoria says in Kuala Lampur:-SoyOil wud eat PalmOil share in 2024 Year as PalmOil Imports in Loss/SoyOil Refining in Profit-so PalmOil Imports wud drop 8 LacTons/SoyOil wud snatch market share from PalmOil-SunOil Imports wud stable at 2.50 LT mth-Total Imports likly at LY 165 LT