FCPO report: Malaysian palm oil futures slipped around 1% to trade below MYR 3,920 per tonne, halting gains from the prior two sessions due to weak rival oils on the Dalian and the CBoT. The contracts are pointing to the first weekly drop in four, down around 0.7% so far, rattled by weak export figures. Shipments of Malaysian palm oil products for June 1-20 fell between 8.1% and 12.9% from May 1-20, according to AmSpec Agri and Intertek Testing Services. Meanwhile, industry data showed palm oil stocks stood at 1.75 million metric in May, the highest since February. Capping the fall were signs of higher domestic demand after Malaysia cut diesel subsidies, a move that could enhance the commercial use of biodiesel. In top buyer India, palm oil purchases in June were estimated at around 750,000 tons, not far from May's four-month peak of 769,000 tons. Separately, crude oil prices are on track to post gains for the second week due to lower US inventories and lingering conflict in the Middle East.
Fcpo report: Malaysian palm oil futures climbed almost 1% to above MYR 3,920 per tonne, rising for the third session as rival oils in the Dalian and the CBoT strengthened. The contracts are heading for the first weekly gain in four, amid bets that production in the coming weeks could fall due to dry weather in Southeast Asia. At the same time, crude oil prices are pointing for the third straight rise for the week on the back of escalating geopolitical tensions in the Middle East and Eastern Europe. For the month and the quarter, futures are set to sink more than 3.5% and over 6%, respectively, pressured by weak exports. Cargo surveyor's data noted shipments of Malaysian palm oil products for June 1-25 plunged between 16.1 and 16.9% from the same period in May. In India, the largest global importer of vegetable oils, New Delhi approved limited imports of corn, crude sunflower oil, and refined rapeseed oil under the tariff-rate quota system, allowing importers to benefit from zero or reduced duties.
Small east wind is blowing: Malaysian palm oil futures surged almost 2% to above MYR 3,990 per tonne, continuing their upward momentum for the fourth session to hit a more than two-week peak amid firmer rival oils in the Dalian and the CBoT. Meanwhile, crude oil prices stayed at a near two-month top amid bets that peak summer fuel demand will cause a supply deficit. At the same time, bets of poor production persisted amid dry weather in Southeast Asia. In top producer Indonesia, the government expects to implement its B40 palm oil biodiesel program by 2025. Capping the bullish impulse were data from cargo surveyor Intertek Testing Services that showed shipments of Malaysian palm oil products for June dipped 11.8% to 1,306,689 tons from 1,481,916 tons shipped during May. In India, the largest global importer of vegetable oils, good rainfall may boost the output of summer-sown oilseeds such as soybeans and groundnut, limiting the requirement for palm oil purchases in the new marketing year starting from Nov., 1.
FCPO yesterday report: Malaysian palm oil futures hovered around MYR 4,060 per tonne, slipping for the first session in six and retreating from an over four-week top amid some profit-taking and weakness in soyoil prices on the CBoT market. Moreover, concerns over weak exports grew, particularly after cargo surveyors' data surveyor Intertek Testing Services and AmSpec Agri reported shipments of Malaysian palm oil products for June declined between 11.8% to 15.4% from the prior month. Capping the fall were reports that palm oil imports from top buyer India rose by 3% in June to notch the highest level in six months, due to robust demand from refiners for upcoming festivals and as the commodity traded at a discount to rival oils. Turning to top producer Indonesia, the government expects to implement its B40 palm oil biodiesel program by 2025. Meanwhile, crude oil prices rose modestly after moving lower in the previous day, supported by a bigger-than-expected draw in US stockpiles.
Malaysian palm oil futures plunged over 2% for the second straight session to below MYR 3,880 per tonne, pressured by weaker soyoil prices after the US Department of Agriculture increased the percentage of the soy crop in good-to-excellent conditions. The contracts slipped for the fifth session as inventories built, marked by the latest data from the Malaysian Palm Oil Board (MPOB) that showed Malaysia's palm oil stocks at the end of June rose 4.35% mom to 1.83 million metric tons. Meanwhile, shipments slumped 13% to 1.21 million tons last month, due to shipping issues. At the same time, crude oil prices fell for the fourth day, amid a bigger-than-estimated drop in US crude stocks. Mitigating the downside impulse were reports from industry regulators that output in June fell 5.2%. In top buyer India, palm oil purchases are expected to reach 850,000 metric tons in July after notching a 6-month peak of 788,000 tons in June as demand will stay strong ahead of upcoming festivals.
Malaysian palm oil futures were below MYR 3,920 per tonne, falling for the sixth straight session as soybean oil on the CBoT market weakened amid favorable US crop conditions. Meanwhile, data from the industry regulator showed inventories in June climbed to a four-month high of 1.83 million metric tons. The Malaysian Palm Oil Board (MPOB) attributed the rise in stocks to a steeper fall in shipments compared to production. Exports of palm oil plunged 12.82% from May to 1.21 million tons last month while crude palm oil production dropped 5.23% to 1.62 million tons. Capping the bearish impulse was a further rise in crude oil prices due to signs of robust demand in the summer amid a large drawdown in US oil inventories. Elsewhere, the MPOB said demand from key buyers China and India will stay strong in the near term. Recent estimates showed India's palm oil buying may reach 850,000 metric tons in July ahead of upcoming festivals, after hitting a six-month peak of 788,000 tons in June.
Malaysian palm oil futures traded above MYR 3,950 per tonne, increasing for the second straight session amid continued bargain hunting and strength in soyoil oil on the CBoT market. At the same time, bets strengthened that exports in July may recover as shipping disruptions ease. Cargo surveyor AmSpec Agri noted that Malaysia's palm oil shipments for July 1-10 jumped strongly by 86% on the month. Separately, the Malaysia Palm Oil Board projected that demand from key buyers China and India will remain robust in the near term. Recent estimates showed India's palm oil buying may reach 850,000 metric tons in July ahead of upcoming festivals, after hitting a six-month peak of 788,000 tons in June. The contracts are set to finish the week on a downbeat note, however, down over 2% so far following gains in the prior two periods, pressured by figures from the industry regulator that showed inventories in June jumped to a four-month high of 1.83 million metric tons.
The ones that dispose have been holding for >20 years since 2003, and the fact that they dispose so many shares but price didnt dump much shows buying interest is still strong, insider selling not always bad, need to knw why they sell, too many people only focus on share price, i focus on valuation, fundementals, catalyst and management
Palm oil export delay due to congestion at Malaysia ports in June currently released in early July, causing export surge in July. FCPO: Surveillance said exports of Malaysian palm oil products for the period were at 786,830 tons, compared with 488,388 tons on June 1-15. Separately, the Malaysia Palm Oil Board projected demand from big buyers, including India will stay robust ahead of upcoming festivals. Limiting the upside mood was the third session of drop in crude oil prices due to a firmer dollar following Donald Trump’s assassination attempt. Meantime, economic momentum in key buyer China notably eased in Q2 of 2024, due to multiple headwinds at home and from abroad.
FCPO: Malaysian palm oil futures were around MYR 3,940 per tonne, touching more than 4000, increasing for the third session as rival oils on the Dalian and the CBoT markets strengthened. At the same time, exports for July are expected to grow robustly, driven by strong demand from top buyer India ahead of upcoming festivals. Data from cargo surveyors Intertek Testing Services and AmSpec Agri showed shipments of Malaysian palm oil products for July 1-15 climbed between 65.9% and 75.6% from a month before, as shipping disruptions eased. Meanwhile, worries over a potential La Nina event emerged as the weather may bring higher rainfall in Southeast Asia, weighing supply. Elsewhere, the Malaysian Palm Oil Association said the contracts are projected to average between MYR 3,850 to MYR 4,000 this year, a slight rise from 2023. A firmer ringgit capped the upside notion, however. Separately, crude oil prices were near their lowest in a month, rattled by signs of weakening demand in China, the world's largest oil importer.
No news of Genine Chain selling, is GOOD news. !! Chart shows Price has crossed the 20 day moving average which is also good. Even JTiasa CT call warrants have moved from 10 to 12 cents . Expires in Jan 25, 1 : 1, Ex Price of RM 1.30, which is only 16 cents away. Many have bought the Call Warrant at 30 cents earlier. Coming August result will be better than last qtr as it is a much higher production season.
i got the feeling that this share price move tandemly with the call warrants....maybe it's times to move on to other companies...let it idle as the ib wish...no earner and no loser
Gamblers pretending to be investors like James_BOMB, Ytl2023 & mamakspecial disappeared already. When rising from 1.10 to 1.50, their greed drew them in like moths to a flame. Pay all sorts of lip service to fundamentals & earnings professing $2 to be a realistic tgt, but in reality, just wanna quick score, selling off to greater fools @ 1.60-1.70.
Instead, caught high & dry and forced to cut loss instead of faithfully holding to their professed tgt. Already moved to the next baccarat table.🤣
Coming! FCPO report: Malaysian palm oil futures hovered near MYR 3,980 per tonne, rising for the fifth session amid strength in rival oils on the Dalian and CBoT markets. Bets of strong exports in July also strengthened after data from cargo surveyors showed shipments of Malaysian palm oil products surged between 39.2 to 41.4% for July 1-20. In top buyer India, palm oil buying this month could reach 850,000 metric tons, compared with 788,000 tons in June, as upcoming festivals loom. Turning to key consumer China, policymakers moved to further help a fragile economy after last week's Third Plenum by cutting key lending rates to fresh lows and delivering the first rate cut for its short-term policy rate. A stronger ringgit capped the bullish notion. Meanwhile, figures from the Southern Peninsular Palm Oil Millers Association implied palm oil output rose by 8.7% on the month during the first half of July. Regarding crude oil, prices were mixed after US President Biden decided to bow out of the election race.
FCPO: Malaysian palm oil futures plunged more than 1.0% to below MYR 3,920 per tonne, withdrawing for the second session amid falls in rival oils on the Dalian and CBoT markets. Meanwhile, signs of higher output in July strengthened, as data from the Southern Peninsular Palm Oil Millers showed palm oil production jumped 17.8% month-over-month from July 1 to 20. Simultaneously, crude oil prices fell for the second day as worries about weaker demand prevailed. Capping the bearish mood was a sentiment of robust exports, highlighted by cargo surveyors' data that shipments of Malaysian palm oil products soared between 39.2 to 41.4% from July 1 to 20. In the world's biggest buyer India, purchases of edible oil imports surged are expected to jump 26% to a record 1.92 million tons, due to lucrative prices and ahead of an anticipated hike in import duties. In top producer Indonesia, the government is planning for the use of palm-oil-based B40 biodiesel in 2025, replacing the current B35 blending.
Genine, based in HK only holds 6% plus shares....But due to low trading volume, their offloading affects the market in my view..Based reports CPO & FFB output has gone up quite significantly the Q ending June 2024.. Compared to the previous quarter, the reported CPO price is also higher....Of course they may be other factors to consider as well..
FCPO Report: Malaysian palm oil futures were below MYR 3,920 per tonne after rising to as high as MYR 3,970 in the prior session, due to weakness in rival oils on the Dalian market and recent strength in ringgit. Meanwhile, signs of higher output mounted after the Malaysian Palm Oil Association said production for the first 20 days of July surged near 15% mom, due to seasonal increased yield and more rainfall in Southeast Asia. Cautious traders continued to follow early reports that Indonesia, the world's largest palm oil producer, is planning to review domestic market obligation rules for the commodity, potentially changing the prices for the portion and types of product sold locally. Capping the fall were signs of strong exports, with data from cargo surveyors noting shipments of Malaysian palm oil products for July 1-25 surged 31%. In top buyer India, palm oil purchases in July likely climb 26% to a record 1.92 million tons, ahead of an anticipated hike in import levies and upcoming festivals.
FCPO report: Malaysian palm oil futures hovered near MYR 3,925 per tonne after retreating to as low as MYR 3,861 in the prior session, helped by a rise in the palm oil contract in the Dalian Exchange. Meanwhile, hopes of robust exports strengthened after cargo surveyors Intertek Testing Services and Amspec Agri said exports soared 31% yoy during the first 25 days of July. Further, Societe Generale de Surveillance estimated shipments of 1,193,049 metric tons, compared with 908,517 tons on June 1-25. Limiting the rise were reports that India's palm oil consumption remained modest as festival demand has yet to pick up while purchases of rival edible oil soybean oil also grew. Meantime, crude oil prices traded near a seven-week low, due to a softer demand outlook, particularly from China. In Indonesia, the world's largest palm oil producer, the government will review domestic market obligation rules for the commodity, potentially changing the prices for the portion and types of products sold locally.
FCPO Report: Malaysian palm oil futures hovered around MYR 3,900 per tonne, halting losses in the previous two sessions amid a rise in palm oil contracts on the Dalian market. Higher export estimates also helped sentiment, with cargo surveyors' data noting Malaysian palm oil shipments may rise between 22.8% and 30.91% mom in July. Meanwhile, Societe Generale de Surveillance said exports were at 1.48 million tons, a 23.6% surge from June. However, prices are on track to dip for the second week, down around 1%, so far, squeezed by recent strength in ringgit. Meantime, the Malaysian Palm Oil Association implied robust production in July, as figures from the first twenty days climbed almost 15% due to a seasonal better yield. In top buyer India, palm oil consumption was modest in July, with festival demand not yet accelerating. Meanwhile, crude oil prices are heading for the fourth straight weekly fall as weak Manufacturing PMI data in the US and China sparked renewed concerns about economic outlook.
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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....
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