March 26 date assessment of palm oil in Malaysia: strong crude oil and soybean oil, the spot market demand, palm oil close up

Beijing Lin PETROFER message March 27: March 26, Malaysia Derivatives Exchange (BMD) CPO futures market closing prices, mainly due to the international crude oil and soybean oil the United States stronger. Exports of higher-than-expected, but also adds the benefit of the market atmosphere.

Keen interest in the spot market purchases, but also boost the price of palm oil.

Benchmark CPO contract in June up 63 ringgit to close at 2,035 ringgit / ton; July contract rose 71 ringgit to close at 2019 ringgit / ton.

A dealer said the March 26 performance of palm oil market are of a technical rebound, crude oil and soybean oil futures strength, coupled with higher-than-expected exports of palm oil, palm oil market eventually led to respond.

ITS shipping agencies investigate SGS 3 and 25 day month is expected to Malaysia in March 1-25 palm oil export volume for the day 908404-952365 tons, higher than market expectations of 850000-871000 tons. However, palm oil market was falling due to the external market is down.

Dealers said the market probably in the near future 1950-2000 ringgit to fluctuate within the range of prices at this level will be easy to find support.

Another dealer said the inventory is still low because of palm oil, palm oil, so prices will not drop. He added that palm oil production in the next few months may improve, because the palm trees into the high-yield period, and then exports will not be possible to maintain steady growth and yield. Palm oil prices and therefore will probably be dropped.

In the spot market, 24-degree palm oil refining soybean oil is currently lower than 50 U.S. dollars, compared to 30 U.S. dollars earlier, which makes the former more competitive prices, the result of attracting buyers.

March 26, palm oil market turnover is estimated at 15,507 in hand, higher than March 25 of 12,465 hands.

(Li Lei for reference only)