Source: Guosen Futures Author: Guosen Futures
Research report text
【grease】
CBOT soybean oil futures closed down on Friday, mainly due to sluggish export sales of soybean oil and lower international crude oil futures. The January contract closed down 0.49 cents at 71.71 cents per pound. Affected by this, soybean oil opened high and moved low at night, and the shocks fell back.
Friday BMDpalmOil futures rose after strong palm oil export data so far in November while output fell. Crude palm oil for February closed at MYR4,134/ton, up MYR94 from the previous trading day. Monday is a public holiday in Malaysia, and the Malaysian derivatives exchange is closed for the day. Affected by this, even the high level of palm oil night trading was adjusted.
ICE oil rapeseed futures closed down on Friday, and the decline in US soybean oil dragged down the market. The January contract closed down by 7.70 Canadian dollars to close at 812.90 Canadian dollars per ton. Affected by this, Zheng Caiyou fluctuated at a low level in the night market. The domestic oil market was dragged down by its own weak demand, and the trend was obviously weaker than that of the external market. The market showed a pattern of external strength and internal weakness. As the January contract is about to enter the month before delivery, the reduction of holdings and changing months began, and market volatility intensified. Short-term operation is appropriate.
【soybean meal】
Friday CBOTsoybeanFutures ended slightly higher. Continued dry weather in Argentina has caused serious delays in soybean planting, supporting soybean prices. However, Argentina implemented a new soybean dollar policy, and the US soybean export sales were sluggish, restricting the increase in soybean prices. The January futures closed 0.25 cents higher at 1436.25 cents per bushel. Affected by this, the night market opened high and went low, and the longs closed their positions at high positions. As the month before the delivery approached, the longs and shorts began to leave the market and shift positions to the next month. Market volatility increased. Short-term trading is appropriate.
【peanut】
Peanut futures fell sharply on Friday. The main contract PK2301 fell deeply in the afternoon, closing at 10416, down 1.55% from the previous trading day, with a position increase of 4,000 lots and a position of 110,000 lots. The quantity of goods on the origin is limited, and the acceptance of low prices is average. At present, the purchase price of Zhumadian Xinbaisha Peanut Currency Rice is 10,700-11,000 yuan/ton, and the shipment of raw materials is not much. It is recommended to treat the operation with shock thinking.
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