Market sentiment improvement and declining inventories drive palm oil futures prices higher
⑵ Global crude oil prices rose after the breakdown of US-Iran negotiations, also boosting market sentiment and increasing risk appetite.
⑶ According to monthly data from the Malaysian Palm Oil Board, March inventories fell for the third consecutive month, hitting a seven-month low, further strengthening fundamentals.
⑷ In India, the largest buyer, after March imports fell 19% from the previous month to a three-month low, the market expects buyers to replenish inventories ahead of seasonal demand.
⑸ However, weaker export estimates limited the gains, as shipping survey agencies reported palm oil shipments in the first ten days of April fell by 30.7%-38.9% compared to the same period in March.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Duan Yongping: Currently will not sell Nvidia, and in the future Jensen Huang may return as a “shadow CEO”
Duan Yongping has made it clear that he will not sell Nvidia and sold a large number of put options on the day the news was released. Nvidia may invite Jensen Huang to serve as an advisor, taking on a “shadow CEO” role to retain his influence, but he would no longer have signing authority. Whether this scenario materializes will likely only become clear after the hearing concludes.
US Research Review - Azenta, Cencora, Stratasys
After Jensen Huang stepped down, Nvidia (NVDA.US) shares plunged; retail investors bought up $111 million within half an hour of the market opening.
Retail investors are still betting on a rebound in NVIDIA (NVDA.US) stock price.
UBS raises Target's price target to $205
Crypto prices
More
