Global: Prices for oilseeds remain under pressure from rising supply

게시됨 2022년 7월 22일

Tridge 요약

Oil markets are currently experiencing high supply and uncertain demand due to the impact of COVID-19 in China and Japan, with potential for further price drops if OPEC+ increases production quotas. Palm oil prices have seen a 3.7% increase this week, but remain 11.8% lower than two weeks ago due to oversupply from Indonesia. Soymbean and sunflower oil prices have also seen fluctuations, while favorable weather in Canada has resulted in a decrease in purchase prices for rapeseed in Ukraine. Despite concerns over global oil prices and gasoline inventories in the US, the resumption of oil supplies from Libya and Russia, along with promises to increase supplies by OPEC+, are keeping prices stable for now. However, fears of increased COVID-19 cases in major economies could lead to reduced demand and further price drops.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Oil markets continued to be in a high supply and uncertain situation this week, with the outlook for demand due to rising covid-19 cases in China and Japan, as well as possible lower oil prices if OPEC+ raises production quotas. Palm oil, the most sensitive to oil price movements, initially rose sharply this week, but eased towards the end of the week and was up 3.7% overall since Friday at 3,720 ringgits per tonne, or $836 /t, which is still 11.8% lower than two weeks ago. Huge palm oil supplies from Indonesia will continue to weigh on markets in July and August until the massive stockpiles created by the government's export bans in April are depleted. Palm oil continues to win the competition for a share of the global vegetable oil market, given its cheapness and availability. Soybean oil also receives additional price bonuses due to low offers from sunflower oil. September soybean oil futures on the Chicago Mercantile Exchange jumped 5.4% on Monday after a prolonged 5-week ...

출처: Graintrade