SunSirs: The Rise of Soybean Oil and Palm Oil Prices is Inconsistent in May

According to the commodity market analysis system of SunSirs, in May, the domestic soybean oil and palm oil market showed inconsistent upward trends, with soybean oil prices rising and palm oil prices falling. On May 1st, the average price of soybean oil in the market was 8,120 RMB/ton. On May 30th, the average price of soybean oil in the market was 8,120 RMB/ton, an increase of 3.67%. On May 1st, the average price of palm oil in the market was 7,960 RMB/ton. On May 30th, the average price of palm oil in the market was 7,940 RMB/ton, a decrease of 0.25%.

During the May Day holiday, the external oil and fat market surged. After the holiday, the soybean oil and palm oil futures market experienced a rebound, and after the rebound, they gradually rebounded. On May 8th, soybean oil fell by 1.75% in a single day, with the market average price dropping to 7,840 RMB/ton, unchanged from the beginning of the month. On May 10th, the average price of palm oil in the market fell to 7,770 RMB/ton, a decrease of over 3% compared to the beginning of the month.

In the middle of the month, the external soybean futures market was boosted, while the soybean oil market was supported, and palm oil followed suit. Due to the increasing production cycle of Malay palm oil, soybean oil palm oil experienced a pullback after rising. The long and short markets are intertwined, and the overall soybean oil and palm oil market is oscillating and rising, with gains exceeding 1%. Palm oil has a relatively large increase, approaching 1.5%.

At the end of the month, the external soybean futures market was boosted, and soybean oil palm oil rose with the market. The demand for summer oil consumption weakened, and the bearish sentiment suppressed. The continuous upward momentum of the soybean oil palm oil market was insufficient, and after the rise, it gradually experienced a pullback, with a significant increase in soybean oil. In terms of palm oil, due to the fact that Malay palm oil is in the period of increasing production, the external market is not good, and the palm oil market is fluctuating, with the overall decline being the main trend. On May 30th, the average price of soybean oil in the market was 8,120 RMB/ton, an increase of 0.62% compared to May 20th. On May 30th, the average price of palm oil in the market was 7,940 RMB/ton, a decrease of 0.45% compared to May 20th.

According to agricultural product analysts from SunSirs, starting from June, the weather has warmed up and the demand for terminal oils has declined. In the future, the upward space for soybean oil and palm oil is still limited, with weak declines being the main trend.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.