External disk trend: On Tuesday, it rose 27 MYR, or 0.66%, and closed at 4144 MYR/ton.
Disk trend: P2109 closed at 8422, 3.64% from the previous trading day; trading volume was 804762, open interest was 328,525 hands, 12653; P9-January spread was 714. Market dynamics: 1 Malaysia Sustainable Palm Oil (MSPO) certification is currently in the final stage of revision and is expected to be completed by the end of 2021 or early 2022. The revised MSPO certification is expected to have new standards, including the latest sustainability requirements and practices. The certification program is a national program for oil palm plantations, independent and organized small farms, and palm oil processing facilities. 2 China News Agency, Kuala Lumpur, August 2, Malaysia’s Ministry of Health reported on August 2 that as of 12 noon that day, the country had added 15,764 new confirmed cases of new coronary pneumonia in the past 24 hours. This is Malaysia’s 21st consecutive day with over 10,000 newly confirmed cases in a single day.
Market quotation: Traders in Dongguan, Guangdong, offer 8790 yuan/ton for 24°C palm oil, -50 yuan/ton. Traders in Zhangjiagang area quoted prices at 8860 yuan/ton for 24°C palm oil and -20 yuan/ton. Traders in Tianjin area quoted prices at RMB 8,900/ton for 24°C palm oil and RMB -20/ton.
Warehouse Receipt Inventory: Palm Oil Warehouse Receipt: Warehouse Receipt 1100 lots, 0 lots.
Main positions: palm oil 2109 contracts top 20 long positions 211567, -7265, short positions 206098, 1073. (Unit: hand)
Summary: From a fundamental point of view, according to data from the Southern Peninsula Palm Oil Press Association (SPPOMA), Malaysian palm oil output increased by 4.38% from July 1 to 31, oil yield decreased by 0.45%, and output increased by 2.01%. According to data from ITS, a shipping survey agency, Malaysia exported 1,440,096 tons of palm oil in July, a decrease of 5.2% from 1,519,180 tons in the same period in June. Judging from high-frequency data, Ma total output has recovered, but exports have fallen again. Among them, exports were mainly affected by the impact of Indonesian exports on Malay exports, which was obviously frustrated. However, after Tuesday’s decline, the market’s bearish sentiment has been released to a certain extent. In addition, the epidemic situation in Malaysia has not been effectively controlled, and the market still has doubts about the growth of horse palm production. Support palm oil prices. On the domestic front, palm oil import profits have recently suffered losses, and there have been a few signs of ship washing, restricting palm oil imports, and palm oil port inventories have declined, supporting the price of palm oil. On the disk, after the previous decline, palm oil's bearish sentiment has been released to a certain extent. Under the background of low inventories, tight supply and lower-than-expected production areas, the bottom support of palm oil is still strong, and all the previous empty orders are only profitable Leave.
