The DROP was expected due to seasonal and market conditions. Not an EXPERT, BUT PAID ANALYSIS( From Big Corp) have STATED that for 2021 .. RM 2900 to 3200/t for CPO. Facts based on Ave CPO prices till May 2021 is Rm 4100 !!!!! Assuming that CPO drops to RM 3000/t for the REST of the YEAR ( Very Unlikely Considering Soya and Corn prices being Elevated now. And Weather PLUS (Latest) .... INSECT PEST in US ( building up now)... Soya and Corn ( Under Pressure ) ) .... rm 4100 + Rm 3000 / 2 = Rm 3550 Ave for 2021. Have always CAST Doubt on so called ANALYSIS predictions. Anyway ...... Those SEASON investors ...... CHARTS are a GUILD ONLY .
RM 3,400 is Pretty Good for June till Sept 2021. Then EXPECT it to go back up to Rm4,000. Based on Good Weather, Covid under control, Indonesia does NOT change its Taxes for CPO, World Consumption WILL remain the same even if COVID gets UNDER control, Pest( Billions of it ) festering in USA DOES remain UNDER control ( Unlikely ) , Rain coming to Drought areas in US . And Europe DOES not GET "Flooded" due to LaLino effect ( Likely ) . So ...... Woluld you Bet Against RM 3400/- in Sept 2021 ? That is "SHORT IT " ????
Oh Yes !!! Crude Oil at US69/- Now. Once the Western Countries open up as Covid gets under CONTROL .......... In Summer .( July till Oct ) expect BINGE spending and travel. Crude Oil .... Likely to Go Up. So WILL BIODIESEL and BIOJET FUEL demand increase ?
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 4507 views | 4 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
calvintaneng
56,038 posts
Posted by calvintaneng > 2021-06-10 13:40 | Report Abuse
BETTER THROW AWAY THE CHARTS
NEWTON'S LAW OF MOTION IN PLAY
NOW GOT PIVOTING TO BIODISEL
SO PALM OIL CPO PRICES UP AND SUSTAINED BY BIODISEL DEMAND
PHILLIPS 66 CONVERTING REFINERY FROM FOSSIL FUEL TO BIODISEL WILL SPUR SOYBEAN OIL TO MULTI YEAR HIGH
NOW PALM OIL WILL FOLLOW SOYOIL IN VERY STRONG NEW TREND
See
https://investor.phillips66.com/financial-information/news-releases/news-release-details/2020/Phillips-66-Plans-to-Transform-San-Francisco-Refinery-into-Worlds-Largest-Renewable-Fuels-Plant/default.aspx