After May Day, the market of soybean oil and palm oil futures rose one after another. Soybean oil rose by 5.83% and palm oil rose by 11.71% for several days.
In the middle and late May, due to the substantial increase in the number of raw material imports of soybeans, national regulation and bad news, soybean oil and palm oil began to dive one after another, with a decline of more than 6%. In the last week of May, soybean oil and palm oil began to rise in an oscillatory way, and the rise was obvious in June. As of June 2, the average price of soybean oil market was 9486 yuan / ton, up 2.23%, and the average price of palm oil market was 8864 yuan / ton, up 1.42%.
Long short game soybean oil palm oil roller coaster market in May
In May, due to the sharp rise in the price of oil in the outer market, and the better export data of palm oil in Mapan, the stock of soybean oil and palm oil was at a low level, which was supported by the bullish trend, and the soybean oil and palm oil continued to rise. As of May 13, soybean oil rose by 5.83% compared with that before the festival; Palm oil rose 11.71% from before the festival.
In the last ten days, the amount of imported soybeans to Hong Kong increased, Mapan palm oil was in the production cycle, and the impact of the epidemic situation led to a decline in export expectations. Domestic policy to stabilize prices, terminal demand weakness, inventory rebound. Under the pressure of multiple bad news, soybean oil and palm oil began to plunge, and the price continued to fall, with soybean oil falling by more than 7% and palm oil falling by more than 6.5%.
Bullish factors come, early June soybean oil palm oil rally restart
Since soybean oil and palm oil have begun to rise in succession at the end of May, they have been rising in an oscillatory way. In June, soybean oil and palm oil have been rising again. The main reason is that the output of Malay palm oil is limited, the dry weather of American beans has affected the external agricultural products, and the soybean oil palm oil futures rose sharply. On June 2, even the main contract of palm oil rose by more than 3%, and even the main contract of soybean oil rose by more than 2%. The spot price of soybean oil palm oil rose with the market, and the increase was less than that of futures.
Soybean oil palm oil inventory pressure is small, the outer disk weather speculation space is still in the future soybean oil palm oil still has room to rise.
