Sunflower Oil Market Report

 

Fresh Monday start with Palm bouncing back from the lows of Friday. Panic is probably apt word for how the traders are reacting to the reports. Market lacks total confidence and once again we will see selling pressure starting from tomorrow. Indian market is under pressure to perform the high price contracts and meet the payment dead lines , pushing them to offer aggressive and break the price barriers. Bean oil in India traded last at 671-672 and small volumes were even traded at 668 for 15 nov – 15 dec shipment. On Sunflower oil the markets were very quiet after getting a shock from palm oils. It appears that we have finally reached a bottom and any further downward drift will be very slow and painful. Interesting to note that Trump finally sees China way and we can see revival in demand. Also Brent is likely to jump as member countries agree to cut production currently its at 57.01.

 

• Palm oil Midday Market Close
• Bmd: 2004 (+32)
• H2006/L1983
• Vol: 21,054
• Oln:
• Dec 475
• Jan 495
• Jfm 505 vs 500
• Amj 547.5 vs 542.5 trd 542.5
• Jas 552.5 vs 547.5
• Rbdpo: -5
• Strn: Dec 442.5 (deld pg)
• Pfad: Dec 337.5 (deld)
• Local cpo: Dec 1820
• Indon cpo:
• Jan 447.5
• Feb 467.5
• Mar 485
• Laurics:
• Cpko: Dec 165
• Rbdpko: Dec 755
• Rbdpkoln: Dec 655
• Rbdpks: Dec 910
• 6 port Europe sfo opening with seller dec 675 jfm 670 amj 675 jas 682.5 ond 690 jfm 705
• Black Sea sunflower oil JFM 640 vs – and AMJ 645 vs --
• Russian sunflower oil offered USD 635 for Jan
• Spain offered at 678 vs --
• Italy offered at 675 vs --
• CIF India offered Dec 690, JFM 685 and AMJ 687.50
• Turkey offered at USD 675 vs –
• Currency INR 71.62, RM 4.18, Euro 1.1420 and Rub 65.892