Below are excerpts from the Bloomberg newswire.
- Market closing @ 11.11.2024
|
|
|
|
Month |
Price |
Changes vs Previous Closing Day |
% |
Price (USD/MT) |
|
1a) |
BMD CPO - spot month |
RM/MT |
Nov'24 |
5,270 |
110 |
2.13% |
1,194 |
|
1b) |
BMD CPO - 3rd month |
RM/MT |
Jan'25 |
5,196 |
95 |
1.86% |
1,178 |
|
2) |
CBOT Soyoil |
Cents/Ib |
Dec'24 |
48.14 |
-0.63 |
-1.29% |
1,061 |
|
3) |
WTI Crude Oil |
USD/barrel |
Dec'24 |
68.04 |
-2.34 |
-3.32% |
499 |
|
4) |
ICE Brent Oil |
USD/barrel |
Jan'25 |
71.83 |
-2.04 |
-2.76% |
527 |
|
5) |
ICE Gas Oil |
USD/MT |
Nov'24 |
656.5 |
-12.00 |
-1.80% |
657 |
|
6a) |
CCNO (Phil/Indo, Cif Rotterdam, Reuters) |
USD/MT |
Nov/Dec'24 |
1,875 |
25 |
1.35% |
1,875 |
|
6b) |
CCNO (Phil/Indo, Cif Port Klang) |
USD/MT |
Nov/Dec'24 |
1,830 |
30 |
1.67% |
1,830 |
|
7a) |
CPKO (Mal, Cif Rotterdam, Reuters) |
USD/MT |
Nov/Dec'24 |
1950 |
20 |
1.04% |
1,950 |
|
7b) |
CPKO (Mal; local spot) |
USD/MT |
Nov/Dec'24 |
1949 |
63 |
3.34% |
1,949 |
|
8) |
U.S Tallow, Packer bleachable (CAF Chicago) |
cents/lb |
Nov'24 |
42 |
0.00 |
0.00% |
926 |
|
9) |
U.S Tallow, Renderer bleachable (CAF Chicago) |
cents/lb |
Nov'24 |
43.25 |
0.00 |
0.00% |
953 |
|
|
Spreads |
Remarks |
Price (MYR/MT) |
Price (USD/bbl) |
Price (USD/MT) 11.11.24 |
Price (USD/MT) 8.11.24 |
Changes vs Previous Closing Day |
|
A) |
Palm Oil-Gas Oil (spot month) |
Item 1a - 5 |
|
|
538 |
509 |
29 |
|
B) |
Palm Oil-Soybean Oil (spot month) |
Item 1a - 2 |
|
|
133 |
102 |
31 |
|
C) |
Brent-WTI (Jan’25-Dec’24) |
Item 4 - 3 |
|
4 |
28 |
26 |
2 |
|
D) |
CPKO-CPO (Nov/Nov’24) |
Item 7b - 1a |
3330 |
|
755 |
709 |
46 |
|
E) |
CCNO-CPKO (Nov’24, Reuters) |
Item 6a - 7a |
-331 |
|
-75 |
-80 |
5 |
- Market
CBOT November delivery down 8 cents to settle at $10.22/bushel, as soybeans eased on profit-taking after hitting multi-month highs the previous Friday, and as the U.S. dollar. DXY edged higher. A stronger dollar tends to make commodities, such as grains and oilseeds, less competitive on the global market.
WTI December delivery plummeted 3.3% to settle at $68.04/barrel, oil extended declines as a soft outlook for demand in China, the world’s largest crude importer, continued to plague the market.
BMD CPO market extended its recent rally for a fourth day and headed to close at its highest level in more than two years as traders weighed a drop in Malaysian reserves and weakening demand for the most-consumed cooking oil.
- Market outlook
1. Stockpiles in Malaysia fell more than 6% in October from a month earlier, the lowest level since August. The MPOB figures are bullish as inventory data came in below market expectations. Weaker exports in November could also weigh on the market. Malaysian shipments slumped 16% in the first 10 days of this month from October. Sales to top buyer India tumbled about 64%, while volumes to the European Union fell 53%.
2. Expect BMD CPO to trade 4,900 – 5,200.
