MARKET NEWS

MARKET NEWS

26 July 2017
Bloomberg
China Buys Palm Oil; Soy Oil Inventories Climb

Soy oil stockpiles at major crushers in China have climbed on strong crush volumes, China National Grain and Oils Information Center says in an emailed report Wednesday.

  • Total stockpiles at 1.4m tons, +6.4% m/m, +14.8% y/y
    • The rise is due to low seasonal edible oil demand
    • Weekly soy crush volumes at about 1.9m tons
  • Chinese firms ordered 3 cargoes, or 35,000 tons, of palm oil on Tuesday for Oct.-Nov. loading as domestic palm oil prices rose
    • NOTE: Dalian palm oil futures +2.5% on Tuesday
    • China ordered a total of 25 cargoes for 4Q loadings: CNGOIC
    • NOTE: China’s Palm Oil Imports Seen Rising in Aug.-Sept., CNGOIC Says

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