August 2, 2013 Crude Palm Oil Recap

Transcription

1 Page 1 of 5 Crude Palm Oil Recap BMD CPO Previous Open High Low Close Net % % Vol. Volume OI OI Aug Sep Oct Nov Dec Spread Aug-2013 Sep-2013 Oct-2013 Nov-2013 Dec-2013 Aug Sep Oct Nov MCX CPO Previous Open High Low Close Net % % Vol. OI Volume OI Aug Sep Oct Spread Jul-2013 Aug-2013 Sep-2013 Jul Aug Physical Market Rates Date Commodity Rate Units 1-Aug-13 Malaysia CPO FOB - August $ / MT 1-Aug-13 Malaysia Palm Kernel FOB - August $ / MT 1-Aug-13 Malaysia Palm Oil RBD FOB - August $ / MT 1-Aug-13 Malaysia Palm olein - August $ / MT 1-Aug-13 Malaysia Palm Stearin - August $ / MT 1-Aug-13 China - Tianjin Refined Palm oil Spot CNY / MT 1-Aug-13 Indonesia CPO FOB Spot $ / MT 1-Aug-13 India Mumbai C & F CPO Spot $ / MT 1-Aug-13 India Mumbai C & F Palm olein RBD Spot $ / MT 1-Aug-13 India Kakinada Palm olein RBD Spot Rs. / 10 Kg 1-Aug-13 India Kandla Palm olein RBD Spot Rs. / 10 Kg 1-Aug-13 India Mangalore Palm olein RBD Spot Rs. / 10 Kg BMD CPO futures moved moderately higher on Thursday on momentum built by positive Malaysia Palm oil July export figures. However, gains were limited by ideas of increasing supply of veg. oils in the coming weeks. Exports of Malaysian Palm oil products in July rose 4.2% to 1,406,935 MT from 1,350,311 MT shipped during June, cargo surveyor Intertek Testing Services said. ITS figures show Chinese imports were higher in July from previous month. Exports of Malaysian Palm oil products for July rose 5.3% to 1,385,607 MT compared with 1,315,698 MT shipped during June, cargo surveyor Societe Generale de Surveillance said. 1

2 Page 2 of 5 MCX CPO prices ended flat yesterday. Rupee closed higher on Thursday. CBOT August Soybean Oil finished up 0.4 cent at cents, 0.2 cent off the high and 0.4 cent up from the low on Thursday. Crude oil prices closed sharply higher yesterday on supportive data from China and Europe. US Dollar index too ended sharply higher. Asian equity markets were trading higher on Friday morning. Spread: - CBOT Soy Oil September BMD CPO October Spread: - NCDEX Soy Oil August MCX CPO August The CBOT Soy Oil September BMD CPO October spread is at $242.38/MT. The NCDEX Soy Oil August MCX CPO August spread is at Rs /10Kg. 2

3 Page 3 of 5 Charts & Outlook BMD CPO BMD CPO with USDMYR BMD Crude Palm Oil October (2259) Trade Recommendation: - None. 3

4 Page 4 of 5 MCX CPO with USDINR MCX CPO September (484.20) Trade Recommendation: - None. Outlook: - Better July export figures amid weakening Ringgit are near term positive forces. Resistance is at 2320 levels. CPO prices may firm up in the near term and consolidate. Sustained up-move does not seem likely as rallies may attract selling pressure. The bigger picture is still bearish as veg. oils supplies are likely to outpace demand. Rupee weakness to provide additional support to Indian CPO prices. Dalian Palm Olein September 2013 (5525) Comments: - Resistance is at levels. 4

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