Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

Palm is showing its sharpest fall owing to weaker exports ,bearish sentiments as India increased duty on Veg oils excluding Sunflower oil and Rape oil. Bean oil too is under pressure and prices are getting corrected. Much awaited duty on Veg oils in finally announced in India and they left sunflower oil and rape oil untouched. Under a normal circumstance we would have expected phenomenal demand in sunflower oil but with the excess imports speculative shorts and domestic market not excited at all by duty jump, the demand is not so aggressive. The prices will have to first trade in parity with the offer side and current excess stocks liquidated to attract new demand or Sunflower CIF will have to come at USD 800 from current 815 levels to attract customers.  Trade was expecting a 10% hike in duty but then the hike was only 5% from 12.5% to 17.5% on Bean oil which resulted it traders booking profits on futures exchange. Now the markets have come back to normal and we expect once again prices in India to appreciate. Expect demand back in a fortnight.

 

  • Palm oil price Mkt Midday Closing:
  • DALIAN Sep/Jan
  • PO -80 5386 -96 5308
  • BO -68 6078 -80 6194
  • SB -3 3786 -5 3891
  • SBM -18 2757 -17 2713
  • CBOT
  • Esbo Dec +0.02 33.06
  • Esbn Nov +0.25 924.50
  • Esbm Dec -0.30 299.10
  • CBOT Soyoil Share Dec 35.59%
  • ENERGY
  • Crude Sept +0.22 47.77
  • Gasoil Sept +3.50 475.00
  • Brent Oct +0.29 51.09
  • POGO Jan +144
  • FX
  • EUR 1.1740
  • CNY 6.6883
  • MYR 4.2983
  • SGD 1.3678
  • INR 64.2700
  • IDR 13372
  • BMD (3rd month) Oct -31 2615
  • Hi 2622 Lo 2608
  • Vol 21,113 lots
  • OLN
  • Sept PG 640 v 637.5
  • OND 638.5 v 636
  • JFM 644.5 v 642.5
  • AMJ 649.5 v 645
  • INDON CPO
  • Sept 645 v 632.5 (4.5%)
  • OND ? v 630 (4.5%)
  • LCL MSIA CPO
  • Aug DLVD 2660
  • LCL MSIA STEARIN
  • Sep DLVD 625
  • LCL MSIA PFAD
  • Sep DLVD 610
  • 6 Ports Europe SFO opens with offers Aug 797.5 sept 800 ond 805 jfm 815 amj 825 jas 835
  • Black Sea sunflower oil  offered OND 765 v 750, JFM 770 vs 755
  • Russian Sunflower oil price offered USD 750 vs —
  • Spain offered at USD 810 vs 80
  • Italy offered at USD 805 vs –
  • CIF India offered Sept 825 and Oct 820 and ND 815 indicatively
  • Turkey offered at USD 800 vs –
  • Currency INR 64.19, Euro 1.1729, RM 4.29, and Rub 59.63

Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

Markets seem to have taken a pause today ahead of USDA report. Global markets are looking at North Korea, OPEC, Fed, Indo Chinese standoff etc ….money moving towards safer heaven GOLD and some may also come in Agri commodities ( I wish). Soybeans modestly higher ahead of the report today.  Forecast still leans on the drier side- remember we still need solid rains still in Aug.   USDA report today still largely a big guess on yields as we still are dealing with yield implications per soybean crop.   Ukraine sunflower oil showing surprising strength in FOB. Last night Fob traded as high as 760 and today offers are only at 765. Some were reporting bids at 762 but then today every thing is back to normal and buyers start just at 755 for SOND positions. Indians are struggling with high stocks large imports and no clarity on import duty though Bloomberg and other so called news agencies were confident of breaking it first. Athena team feels that if any duty increase will happen then we can expect it tomorrow if not this issue will be postponed till September as its still time for harvest and farmers will only bring their crop around End sept to market yards.

 

  • Palm oil Market Close
  • Bmd: 2660 (+30)
  • H2672 / L2634
  • Vol: 66,765
  • oln:
  • Aug (deld) 655
  • Sep 650 vs 645 trd 646-647
  • Ond 647.5 vs 642.5 trd 645
  • Jfm 657.5 vs 652.5 trd 647.5-655
  • Amj 662.5 vs 655/?
  • rbdpo: -10
  • strn: Sep 625 (deld)
  • pfad: Sep 615 (deld)
  • Local cpo: Aug 2650
  • Indon cpo:
  • Aug 655
  • Sep 655
  • Ond 655
  • laurics:
  • cpko: Aug 280
  • rbdpko: Sept 1185
  • rbdpkoln: Sept 1060
  • rbdpks: Sept 1540
  • Rm 4.29
  • Crude Oil : Sep 49.91
  • Ace : +13 +11
  • Dce: Sep 5486 (+20) Jan 5418 (+6)
  • 6 ports Europe Sfo starting out slightly higher with seller ond 807.5 jfm 817.5 amj 827.5 jas 837.5…
  • Black Sea sunflower oil FOB OND 765 vs 755, JFM 770 vs 755
  • Russian sunflower oil offered at USD 750 vs –
  • Spain offered a shade higher at USD 812for new crop
  • Italy offered at USD 807.50 vs –
  • CIF India offered for SOND 820 against this bids only at 800. Locally oil is offered at 60100 for ready payment basis
  • Turkey offered at USD 810 vs –
  • Currency INR 63.92, RM 4.29, Euro 1.17, and rub 59.80

Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

Veg oil markets are very volatile with news about hot and dry weather keeping the price firm in sunflower oil and new about China’s ever growing appetite for soybeans keeping bean oil firm. Indian markets are once again riddled with the question about increase in duty and it appears that its wishful thinking of importers who are holding record stocks in ports. Indian markets were offered at 812.5 later in the evening for OND and buyers were only keen to buy at 800. Bloomberg too has come out with a news citing reference to some top government official that India will soon increase the duty on veg oils.

 

  • Palm oil Mkt Midday Closing:
  • DALIAN Sep/Jan
  • PO +38 5456 +64 5410
    BO +46 6130 +58 6276
  • SB +3 3870 +19 3977
  • SBM +9 2844 +9 2814
  • CBOT
  • Esbo Dec +0.02 34.24
  • Esbn Nov +2.00 975.25
    Esbm Dec +0.30 314.60
  • CBOT Soyoil Share Dec 35.08%
  • ENERGY
  • Crude Sept +0.06 49.02
  • Gasoil Sept -5.00 478.50
  • Brent Oct -0.20 51.94
  • POGO Dec +140
  • BMD (3rd month) Oct +3 2632
  • Hi 2648 Lo 2627
  • Vol 10,131 lots
  • OLN
  • Sept PG 642.5 v 635
  • OND 642.5 v 637.5
  • JFM 650v 648
  • AMJ 657.5 v 652.5
  • INDON CPO
  • Lh Aug 650 v
  • Sept 650 v
  • LCL MSIA CPO
  • Aug DLVD 2630
  • LCL MSIA STEARIN
  • Sep DLVD 620
  • LCL MSIA PFAD
  • Sep DLVD 615
  • 6 ports Europe Aug 797.5 Sep 800 ond 810 v 800 jfm 820 v 810
  • Black Sea sunflower oil OND 765 vs 755, JFM 770 vs —
  • Russian Sunflower oil offered at USD 760 vs —
  • Spain offered at USD 810 vs –
  • Italy offered at USD 805 vs –
  • CIF India offered OND 815 vs 800, JFM 820 vs –
  • Turkey offered at USD 800 vs –

Currency INR 63.74, Rub 59.88, Euro 1.1748, and RM 4.285

Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

Weather is the key factor across Europe , Balkans , Ukraine and south of Russia. Temperatures are high and this should have negative impact on sunflower seed crop. As a start we are taking 14 million as the crop and this should be revised downward if the dryness and high temperatures continue for one more week. Ukraine sunflower oil sellers have increased the prices to 765 on offer side for new crop. Destinations like India and Europe are not very keen to pay current prices and await a correction. CIF India offered at USD 815 for most of the positions with buyers sniffing ideas at 800. Palm and CBOT both are up and its appears to be exciting day so far ..

 

 

  • Palm oil Mkt Midday Closing:
  • DALIAN Sep/Jan
  • PO +16 5416 -14 5340
  • BO +30 6076 +24 6212
  • SB +44 3862 +75 3956
  • SBM +29 2837 +32 2809
  • CBOT
  • Esbo Dec +0.14 34.07
  • Esbn Nov +4.50 974.25
  • Esbm Dec +1.20 315.40
  • CBOT Soyoil Share Dec 34.90%
  • ENERGY
  • Crude Sept -0.16 49.23
  • Gasoil Sept +3.75 482.25
  • Brent Oct -0.22 52.15
  • POGO Dec +130
  • FX
  • EUR 1.1814
  • CNY 6.6982
  • MYR 4.2835
  • SGD 1.3603
  • INR 63.7450
  • IDR 13318
  • BMD (3rd month) Oct +16 2590
  • Hi 2597 Lo 2585
  • Vol 14,515 lots
  • OLN
  • Sept PG 635 v 627.5/30
  • OND 635 v 630
  • JFM 645 v 640
  • AMJ 652.5 v 647.5
  • INDON CPO
  • Lh Aug 640 v
  • Sept 640
  • LCL MSIA CPO
  • Aug DLVD 2610
  • LCL MSIA STEARIN
  • Sep DLVD 615
  • LCL MSIA PFAD
  • Sep DLVD 610
  • 6 ports Europe Sfo starting out with seller Aug 795 small volume sept 797.5 ond 807.5 jfm 817.5 amj 827.5 jas 827.5
  • Black Sea sunflower oil  FOB Sept 760 vs 750, OND 765 vs 750, JFM 770 vs —
  • Russian sunflower oil FOB offered at USD 750 vs —
  • Spain offered at 810 vs —
  • Italy offered at  805 vs —
  • CIF India offered at SOND 815 vs 800, JFM 815 vs —
  • Turkey offered at USD 800 vs —
  • Currency INR 63.75, Euro 1.1803, Rub 59.92 and RM 4.28

Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

Veg oil markets once again went down as its raining is some part of IOWA and its scattered . Though its still 4th of Aug and we will need the rains in full month that too widespread but having just rains take out Aug premiums and shakes funds confidence. Bean oil basis have improved a lot and we saw it jumping to +50 in the end flat price bean oil was only down USD 4 and same is the story with Sunflower oil. Ukraine sunflower oil sellers started offering USD 760 for OND and we heard some trades at 755 yesterday. Today the sellers are showing 756 against the buyers at 750 may pay 751 . Indians are looking to buy some cargo for SOND JFM but the levels offered to India are closer to 810 mark.

 

  • Palm oil Midday Market Close
  • Bmd: 2605 (+1)
  • H2611/L2598
  • Vol: 12,063
  • oln:
  • Aug (deld) 645 vs 640
  • Sep 637.5 vs  632.5
  • Ond 637.5 vs 635 trd 637.5
  • Jfm 650 vs 645
  • Amj 655 vs 650
  • rbdpo: -10
  • strn: Sep 620 (deld)
  • pfad: Sep 610 (deld)
  • Local cpo: Aug 2610
  • Indon cpo:
  • Aug 640
  • Sep 640
  • Ond 642.5
  • laurics:
  • cpko: Aug 276
  • rbdpko: Aug 1170
  • rbdpkoln: Aug 1055
  • rbdpks: Sep 1530
  • Rm 4.275
  • Crude Oil : Sep 48.93
  • Ace : +4 +2
  • Dce: Sep 5384 (-50) Jan 5332 (-40)
  • 6 ports Europe Sfo Aug 792.5 v 785 sept 795 v 787.5 ond 805 v 795 jfm 812.5 v 805 amj 825
  • Black Sea sunflower oil Offered OND 756 vs 752, JFM 760 vs –
  • Russians sunflower oil offered at USD 750 vs –
  • Spain offered at USD 810 vs –
  • Italy offered at USD 805 vs –
  • CIF India offered SOND 815 may do 812.50 vs Buyers at 800, JFM offered 815 vs buyers again at 800
  • Turkey offered at USD 800 vs –
  • Currency INR 63.69, Euro 1.1885, Rub 60.379, RM 4.27

Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

Cooler temperatures and forecast of rains in US forced funds to take out Aug premiums from the market. Beans are not holding at 200 days MA and also technically they are likely to test 9.58. Bean oil also got corrected and we expect the market to trade 32 before jumping back to 34.50 and then to 36 levels. Ukraine sunflower oil conditions are good to normal and we expect similar crops like last year. Sunflower oil will be behaving independent of other oils and down side will be limited . Demand side is perfectly balanced as India poised to import 2 million Mt for the Oil year 2017-2018. USD is facing the heat and is at its lows. Currencies like Euro , RM and Indian INR are appreciating and today Rupee is at its strongest levels from 2015 this should give some boost to the importers. Buyer for sunflower oil are aiming for USD 800 level against the sellers mostly at 815 CIF India.

 

  • Palm oil Midday Market Close
  • Bmd: 2621 (-33)
  • H2639/L2617
  • Vol: 21,656
  • oln:
  • Aug 650 (deld)
  • Sep 640 vs 635
  • Ond 640 vs 637.5 trd 640-638
  • Jfm 650 vs 647.5
  • Amj 655 vs 650 trd 652.5
  • rbdpo: -10
  • strn: Sep 620 (deld)
  • pfad: Sep 610 (deld)
  • Local cpo: Aug 2650
  • Indon cpo:
  • Aug 645
  • Sep 645
  • Ond 645
  • laurics:
  • cpko: Aug 279
  • rbdpko: Aug 1185
  • rbdpkoln: Aug 1070
  • rbdpks: Sep 1540
  • 6 ports Europe SFO Opening Aug/Sept 807.50, OND 810, JFM 820 , AMJ 830 and JAS 840
  • Black sea sunflower oil OND 765 vs 750, JFM 770 vs
  • Russian sunflower oil offered at USD 750 vs 740
  • Spain is offered at 812 vs 800
  • Italy is offered at 807.50 vs –
  • CIF India offers for Sept 812.50, OND 815 and JFM 817.50
  • Turkey offered at USD 800 vs –
  • Currency INR 63.84, Euro 1.1856, Rub 60.577, and RM 4.28

Posted by & filed under Sunflower Oil Market Report, Sunflower Oil Prices.

USD is getting weaker and weaker giving strength to most of the currencies . Crude oil on the other hand is getting strong and we see it touching 50 again. Emerging markets are performing better and even though we have global tensions we see stock markets and commodity exchanges performing well.  Aug is the key month for Soybeans and cooler temperatures and forecast of rains weigh highly on sentiments. Its still to be seen how much rain actually will come and till that time longs will keep holding on to their positions. Ukraine sunflower oil is firm with new crop sellers asking for a price of USD 760 and above. We feel that there is no crop damage or adverse weather situation in Ukraine and we should easily get good crop and CSFO should remain at a discount to bean oil which currently is trading at par or slight premium. Indians have shown good interest to buy local sunflower oil and as we approach festive season we feel the demand should pick up. Prices in domestic markets have improved but the disparity remains making USD buyers and refiners bid lower . Stockiest are releasing their oils in market to cash in and this should keep oils in disparity till End of this month.

 

 

Palm oil Mkt Midday Closing:

DALIAN Sep/Jan

PO +76 5562 +44 5490

BO +58 6186 +64 6354

SB +5 2707 +6 3865

SBM +3 2845 -6 2842

 

CBOT

Esbo Dec -0.05 35.08

Esbn Nov -9.25 998.00

Esbm Dec -3.60 321.80

CBOT Soyoil Share Dec 35.15%

 

ENERGY

Crude Sept +0.09 50.26

Gasoil Aug +5.75 494.75

Brent Sept -3.60 321.80

POGO Dec +139

 

FX

EUR 1.1831

CNY 6.7192

MYR 4.2775

SGD 1.3556

INR 64.1362

IDR 13315

 

BMD (3rd month) Oct -7 2668

Hi 2690 Lo 2667

Vol 17,670 lots

 

MSIAN OLN

Sept 652.5 v

OND 652.5 v 647.5

JFM 660 v 655

AMJ 665 v 657.5

JAS 655 v 647.5

INDON CPO

LH Aug 650 v

Sep 650 v

OND 650 v

LCL MSIA CPO

Aug DLVD 2680

 

LCL MSIA STEARIN

Aug DLVD 630

 

LCL MSIA PFAD

  • 6 ports Europe  Sfo starting out Aug/Sep 807.5 v 785 ond 815 v 800 jfm 825 v 812.5 amj 835 jas 845
  • Black Sea sunflower oil AS 762.50 vs 755, OND 767.50 vs 760, JFM 770 vs –
  • Russian sunflower oil offered at USD 750 for near by
  • Spain offered for New crop 812.50 vs –
  • Italy offered for New crop at USD 807.50 vs –
  • Indian markets offered Sbo:Aug : -40 , Sep : -50 , OND : -20 and Sun: SOND : 825
  • Turkey is offered at USD 800 vs –

Currency INR 64.09, RM 4.278, Euro 1.1818 and Rub 59.987