Sunflower Oil Market Report
Veg oil complex is showing no sign of recovery , bean oil is offered at USD 671 CNF India and buyers are looking at 665 levels. Palm for the first time is looking to go below 2000 mark for the active 3rd month. Needless to mention that Dec and Jan contracts are already below 2000 and trading much lower. FOB prices on RPO and ROL are below USD 500 giving us indications of further weakness. Technical pundits are talking of bean oil prices to remain under correction till we hit 26.00 and this is damping buyer sentiment. On any given day current prices are to be owned and it will take lot of courage for traders to create short here. Black Sea Ukraine is showing little change in offers with Dec 645 and JFM 640 firmly offered again today. SPOT demand is very less and not enough to make up a boat and we expect Dec to be much bigger in volumes.
- Palm oil Midday Market Close
- Bmd: 1978 (-29)
- H1988/L1967
- Vol: 26,557
- Oln:
- Dec 482.5
- Jan 505 vs 500
- Jfm 515 vs 510
- Amj 555 vs 550 trd 552.5-550
- Jas 560/57.5 vs 550
- Rbdpo: -5
- Strn: Dec 455 (deld pg)
- Pfad: Dec 365 (deld)
- Local cpo: Nov 1830
- Indon cpo:
- Jan 460
- Feb 480
- Mar 495
- Laurics:
- Cpko: Dec 160
- Rbdpko: Dec 745
- Rbdpkoln: Dec 645
- Rbdpks: Dec 900
- 6 ports Europe sfo nov 685 dec 685 v 660 jfm 670 vs amj 660 v 670 jas 690 v ond 690 v s jfm 707.5 v 690
- Black Sea sunflower oil DJFM 640 , AMJ 642 vs --
- Russian sunflower oil offered at USD 630 vs –
- Spain offered at USD 685 vs
- Italy offered at USD 680 vs –
- CIF India offered DJFM 685 vs 671 and AMJ buying ideas today at 665
- Turkey offered at USD 675vs - -
- Currency INR 72.22, RM 4.19 , Rub 68.00 and Euro 1.1277