#fcpo
#palmoil
Palm oil for March delivery -1.6% to settle at 3,093 ringgit/ton on Bursa Malaysia Derivatives, biggest decline for most-active contract since Nov. 14.
- Futures drop for 3rd day; +24% YTD
- “There’s some carry-over selling from yesterday and there’s weakness in external markets,” Donny Khor, deputy director of futures & commodities at RHB Investment Bank in Kuala Lumpur, says by phone. Market concerned about demand outlook as higher Malaysian crude palm oil export tax in Jan. may curb purchases, he says
- NOTE: Malaysia’s Dec. 1-20 palm oil exports -14% m/m to 629,043 tons: Intertek
- Shipments -17% to 606,937 tons: SGS
- Soybean oil for Jan. delivery on Chicago Board of Trade -1.3% to 36.10c/lb; Jan. soybeans -1% to $10.11 1/2/bu
- May refined palm oil on Dalian Commodity Exchange -2.4% to close at 6,246 yuan/ton; May soybean oil -1.9% to 7,082 yuan/ton
- Soybean oil’s premium over palm oil at ~$108/ton vs avg ~$93 over past year: data compiled by Bloomberg
- Palm oil’s premium over gasoil at ~$203/ton vs avg ~$232 over past year: data compiled by Bloomberg
No comments:
Post a Comment