Beginning on November 9, soybean oil palm oil returned to the rising channel, and the price hit a record high again. Palm oil has risen sharply, and the price has surpassed that of soybean oil, rising to the first line of 10,400 yuan/ton. Boosted by the surge in palm oil, soybean oil prices have also ushered in an upward trend. As of November 19, the average market price of soybean oil was 10,290 yuan/ton, and the price on the 10th increased by 5.86%; the average market price of palm oil was 10,438 yuan/ton, and the price on the 10th increased by 8.39%.

Since November, soybean oil palm oil has experienced a short period of adjustment, and the market reopened in the second week. The current round of increases is mainly due to the fact that Malaysian palm oil is in the production cut cycle, the supply is tightening, the external palm oil market has risen sharply, and the domestic palm oil futures price has risen. The spot price rose with the market. The palm oil futures price exceeded the soybean oil futures price. The palm oil spot price also surpassed the soybean oil price at one time, as high as 10,400 yuan/ton. Ranked high in history.

Soy oil palm oil inventories are low, bullish factors are still there, and there is still room for growth in the market outlook.

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