Monday, February 20, 2017

How to trade Crude Palm Oil Futures ( FCPO ) 20022017

SOY: Prices Extends Weekly Drop on Improved South America Crops
Soybean futures for May delivery fall 1.1% to close at $10.43 1/4 a bushel on Chicago Board of Trade.
  • This week, contract drops 2.5%, biggest decline since Dec. 23.
  • NOTE: Argentina’s Recent Rains Favored Soy Yields: Exchange
  • NOTE: Agroconsult to Review Soybean Est. Amid Strong Yields
  • Farmers in Brazil will increase sales of record-high crop in next two months, Bunge Ltd. said Wednesday
  • “The weather premium is coming out of the market,” Jerry Gidel, senior grain strategist at Price Futures Group in Chicago, says in telephone interview
  • “Market psychology is also hurt by Mexico threatening to shop for soybeans from South America”
  • NOTE: Mexico said to consider buying Argentina soybeans because of Trump policies, Milenio reports, citing Agriculture Secretary Jose Antonio Calzada.
  • Soybean-meal futures for May delivery decline 0.7% to $343.90 for 2,000 pounds, capping a third weekly drop in four weeks
  • Soybean-oil futures for May delivery fall 1.9% to 33.16c/lb after touching 33.12c, lowest for contract since Sept. 19
  • Price drops for seventh straight session, longest slump since May 5
  • EARLIER: Palm Oil Futures Drop to Cap Biggest Weekly Loss Since 2015
  • NOTE: CBOT will be closed for trading Monday in observance of U.S. President’s Day holiday

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