bigtigerbaccarat|油脂市场震荡偏弱：美豆出口疲软、USDA偏空及棕榈油相对抗跌

Newsletter summary

Oil market volatility is weak this week, affected by weak export demand for US beans and short USDA report. Us inflation data exceeded expectations in March, the dollar strengthened and crude oil remained high due to tensions in the Middle East. USDA raised the inventory of old American beans, the discount on South American beans rose, and the market expected lower pressure on the listing of South American beans. The output of Ma Brown in March may be lower than the historical average, the expected increase in exports is obvious, and the probability of inventory decline is high. Investors need to pay attention to the MPOB supply and demand report. In terms of rapeseed oil, Canadian rapeseed exports are growing, domestic rapeseed oil stocks are high, and supply and demand are relatively loose. Oil market recent or high volatility, investors should pay close attention to the release of the MPOB report.

Text of news flash

The oil market is facing many influences this week, and the market volatility is weak.

Last week, the prices of American beans and American soybean oil showed a volatile downward trend due to the double pressure of weak export demand from American beans and the short USDA report. Oil prices in the domestic market have also been hit, showing a weak shock as a whole, but palm oil is relatively resistant.

At the macro level, US inflation data in March exceeded expectations, causing the dollar to shock and strengthen last week. At the same time, concerns about escalating tensions in the Middle East continued, keeping crude oil prices high last week.

On the industry side, USDA was raised in the April report.BigtigerbaccaratThe old crop inventory of American beans is expected, but the soybean production in Brazil and Argentina remains unchanged. At the same time, soybean production forecasts for Brazil and Argentina have been lowered. Although the USDA report has had a bearish impact on market expectations, the rise in the discount on South American beans may mean that the pressure on the market of South American beans is lower than expected.

As the beautiful beans gradually enter the planting period, the current climatic conditions remain basically normal. In terms of palm oil, horse palm production growth in March may be lower than the historical average, but exports are expected to increase significantly. As a result, there is a greater probability that horse brown inventory will continue to decline in March. Investors need to pay attention to the upcoming supply and demand report from MPOB.

In terms of rapeseed oil, Canada's rapeseed exports increased month-on-month in February. Although there is a slight decline in rapeseed and rapeseed oil depots in domestic oil factories in the 14th week, rapeseed oil inventory is still at a high level. Recently, the supply and demand of rapeseed oil as a whole shows a relatively loose trend.

To sum up, under the background of tight supply and demand of palm oil, the oil market is likely to fluctuate at a high level in the near future. Investors should pay close attention to the release of the MPOB report.

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