Guotai Junan limited upside far month palm oil pressure www.ppp444.com

Guotai Junan: since the limited upside far month palm oil bearing clients view the latest market at the beginning of September, palm oil futures to high concussion, the main 1701 contract from near 5300 rebound to near 5600, followed by strong resistance, lack of upward momentum, looking ahead, we believe that the fundamentals do not support its palm oil prices continue to rise. The early bullish factors has been gradually digested in the disk, the bad factors will be gradually realized. At present, palm oil futures market straddle differences increase, the main producing areas of Indonesia, Malaysia bears on palm oil and palm oil consumption increasing trend is poor; long concerned about the current domestic palm oil spot supply is tight and the depth of the premium of the disk. We believe that the recent palm oil continued to rise space is limited, difficult to sustained pull up, the market is expected to yield an increase of around 9% in Malaysia in August, although the increase may be less than the same period in the history of Malaysia, Indonesia and other countries, but the export a large number of sources, the demand is in advance, and export data released from the shipping agency in September, the chain the late decline, palm oil supply will gradually increase, while domestic demand for palm oil is difficult to change. The main palm oil 1701 contract has certain resistance in early highs near 5632, the recent high and volatile situation, rose kinetic energy shortage, far month contract will be under pressure, investors concerned about the far month 1701 and 1705 short contracts opportunity. Arbitrage, brown beans, cabbage Palm Pre main contract spreads continued to narrow, now at a historic low level over the same period, is expected to continue to narrow the space is relatively limited, investors may be concerned about the bargain made bean brown, brown food price to expand opportunity, in addition, strong oil meal weak pattern is obvious, expected short-term oil meal weak is likely to remain strong oil, there is still a small meal than expanding space. Since the beginning of September, palm oil futures to high concussion, the main 1701 contract from near 5300 rebound to near 5600, followed by strong resistance, lack of upward momentum, looking ahead, we believe that the fundamentals do not support its palm oil prices continued to rise, early bullish factors has been gradually digested in the disk, bad factors will gradually cash, palm oil is expected to continue to rise in the limited space, far month contracts face greater pressure on the back. 1 seasonal production cycle, increasing production volume of domestic supply 1.1 seasonal increase in Indonesia and Malaysia occupy the leading position in the world, palm oil producing countries in 2006, palm oil production in Indonesia over Malaysia. Due to the impact of climate, Malaysia palm oil yield decreased, while the Indonesia palm trees into the prosperous period, to enhance the yield, and further expansion of the plantation, on the whole, Indonesia palm oil production more growth potential. In July, Malaysia palm oil production continued to increase, by the impact of the slowdown in the growth rate of Ramadan. According to MPOB reports, in July Malaysia palm oil production 1 million 590 thousand tons, an increase of 3.5%. From the point of view of the seasonal production of palm oil, from March production continued to rise until the peak of 9-10 months. From the seasonal point of view, the late brown.相关的主题文章: