Comments on Everbright Futures: Affected by the sharp drop in crude oil at night, the oil and fat sector weakened collectively today.
From the perspective of the driving factors behind it, the daily gasoline consumption of American veterans was 1.1% lower than last year, which was lower than market expectations. at the same time, Russia’s seaborne exports are still at a high level. Before the OPEC meeting this weekend, it was reported that Saudi Arabia expressed dissatisfaction with Russia’s lack of substantial production cuts. The supply side has doubts about the supporting role played by the disk. Oil prices may continue to fall in the short term, driving oil prices to fall further.
From the perspective of palm oil fundamentals, Indonesian officials said that the country’s oil palm replanting plan will be accelerated, and Malaysia has also entered a high-yield period, and the supply pressure of producing areas is gradually increasing. However, the domestic price rebound driven by fewer palm oil purchases in the early stage and the decline in inventory is difficult to sustain. With the recent decline in international palm oil quotations, the market expects that palm oil purchases will increase in June, which may affect the next half month. Go library rhythm.
At present, the price difference of soybean palm has dropped to about 400 yuan/ton, and the cost performance of palm oil as a substitute for soybean oil is weakening. It is also difficult for the consumer side to provide bullish drivers.
