The oil and fat in the inner disk fluctuated and fell, and the soybean meal continued to be weak and far strong | soybean oil_Sina Finance_Sina.com

Source: Guosen Futures Author: Guosen Futures

Research report text

Peanuts: continued weakness

Peanut futures rose slightly on Friday. The main contract PK2304 fluctuated in a wide range, closing at 10094, up 0.2% from the previous trading day, reducing the position by 8,000 lots, and holding 120,000 lots.

The volume of shipments has increased, but the market demand is not strong, and some commodity rice is shipped in small quantities. The overall transaction volume in the wholesale market is not large, and a small amount of bargain hunting is replenished. The arrival volume of oil factories decreased, and the purchase prices of individual large oil factories were weak. Insufficient confidence in the market, the operation is recommended to be treated with shocks and bearish thinking.

Grease: the external strength and the internal weakness, the internal plate grease fluctuates and falls

CBOT soybean oil futures fell on Friday, with the benchmark contract closing down 0.83%, reflecting continued selling of soybean oil by speculative funds. The March contract closed 0.52 cent lower at 62.46 cents per pound. In contrast, soybean oil continued to decline at night.

Friday BMDpalmOil futures rose, and the recent month-on-month decline in export data put pressure on the market. However, Indonesia’s launch of the B35 plan in 2023 has boosted the Malaysian palm oil market. March crude palm oil closed at MYR3,917/ton, up MYR23 or 0.59% from the previous trading day. Affected by this, even palm oil prices fluctuated and closed down at night.

ICE refueling rapeseed futures closed mixed on Friday, with the decline of international crude oil and Chicago soybean oil, as well as the general weakness in global stock markets, so that rapeseed was also under pressure. The March contract closed down by 1.7 Canadian dollars to close at 857 Canadian dollars per ton. Affected by this, Zheng Caiyou fluctuated lower at night. At present, under the impact of weak demand, the domestic oil market is relatively weak, with a decline of between 1.48% and 1.96% in night trading. The boost to the market needs more boost from international oils. Once the international oils weaken, the pressure on internal oils will become prominent. The short-term market is still in the bottom-finding and bottom-building market, and short-term trading is fast in and fast out.

Beans: Drought still in U.S.soybean mealLeading the rise in US soybeans

Friday CBOTsoybeanFutures were mostly higher, with the benchmark contract ending 0.47% higher, as soymeal rose on fears of dry weather in Argentina. Drought damage to Argentina, the world’s largest exporter of soymeal, could benefit U.S. soybean producers and processors. March futures closed up 7 cents at 1483.75 cents per bushel. Affected by this, Ye Pan Lian Meal continued the pattern of near weakness and far strength, and the transfer of funds accelerated from January to May. The main contract fluctuated and closed up, and the low level in January fluctuated within a narrow range. The South American weather premium and high discount make the M2305 contract support obvious. The market may run toward the upper limit of the range, and short-term operations are appropriate.

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