ADMISI Commodity Research February 04, 2015 Sriram V. Iyer: [email protected] Crude Palm Oil Recap MCX CPO FEB5 MAR5 APR5 PCP Close Open High Low 443.1 445.0 443.0 446.4 448.5 445.3 446.0 445.0 443.0 447.3 449.1 448.0 440.6 442.5 441.8 Net Chg 3.3 3.5 2.3 % Chg 0.74 0.79 0.52 Volume 1392 732 186 % Vol OI Chg -49.07 2569 -58.34 3106 -78.55 2337 OI Chg -13 -67 2 Net OI Change = -78 Spread FEB5 MAR5 Production Stocks Exports MAR5 -2.1 APR5 1.1 3.2 Malaysia MPOB data (million MT) MPOB MPOB December Expected November 2014 2014 1.36 1.35 1.75 2.01 2.02 2.27 1.52 1.5 1.51 MPOB December 2013 1.66 1.98 1.52 BMD was closed and will reopen today. Prices on the European vegetable oils market extended gains on Tuesday as they tracked a broad rebound in commodities, although activity was again curbed by a holiday closure in Malaysia. Soybean oil on the Chicago Board Of Trade also drew support from a weaker dollar Brent crude oil rose above $55/barrel on Tuesday amid news about plans by U.S. petroleum firms to cut back on drilling and exploitation of producing wells. In other news, Indonesia's government plans to introduce a more than threefold increase in its biodiesel subsidies, an energy ministry official said on Tuesday, a move aimed at protecting Indonesia's fledgling biofuel industry against lower crude prices. An increase in subsidies could potentially boost demand for palm oil. However, the government plan still has to get parliamentary backing before becoming law. Indian CPO moved higher tracking firm crude prices and rising demand in the spot markets. Date 3-Feb-15 3-Feb-15 3-Feb-15 3-Feb-15 3-Feb-15 3-Feb-15 3-Feb-15 Physical Market Rates Commodity China - Tianjin Refined Palm oil Spot Indonesia CPO FOB Spot India Mumbai C & F CPO Spot India Mumbai C & F Palm olein RBD Spot India Kakinada Palm olein RBD Spot India Kandla Palm olein RBD Spot India Mangalore Palm olein RBD Spot Rate 4850.00 590.00 640.00 660.00 475.00 475.00 485.00 Units CNY / MT $ / MT $ / MT $ / MT Rs. / 10 Kg Rs. / 10 Kg Rs. / 10 Kg 1 ADMISI Commodity Research February 04, 2015 Sriram V. Iyer: [email protected] Spread: - CBOT Soy Oil May – BMD CPO April Source: Reuters The CBOT Soy Oil May – BMD CPO April spread is at $ 93.409/MT. Spread: - NCDEX Soy Oil April – MCX CPO March Source: Reuters The NCDEX Soy Oil April – MCX Palm Oil March spread is at Rs. 146.6/Kg. 2 ADMISI Commodity Research February 04, 2015 Sriram V. Iyer: [email protected] Charts & Outlook BMD CPO Source: Reuters Source: Reuters BMD Palm Oil April (2146) Trade Recommendation: - None. Outlook: - BMD CPO prices can move higher supported by higher crude oil prices. Key supports are at 2126 and 2103. Key resistances are at 2187 and 2215. 3 ADMISI Commodity Research February 04, 2015 Sriram V. Iyer: [email protected] MCX CPO Source: Reuters MCX CPO March (448.6) Trade Recommendation: - None. Outlook: Indian CPO prices may track overseas prices. However, Rupee could appreciate against the Dollar limiting upside. Key supports are at 442.25 and 437.10. Key resistance is at 451.25 and 457.35. Source: Reuters Dalian Palm Olein May (4792) Comments: - Support is at 4698. Resistance is at 4829. 4 ADMISI Commodity Research February 04, 2015 Sriram V. Iyer: [email protected] DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any commodity or commodity derivative in any jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of ADMISI Commodities Private Limited. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Archer Daniels Midland Company (ADM), nor ADMISI Commodities Private Limited, nor any person/entity connected with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock's price movement and trading volume, as opposed to focusing on a commodity’s fundamentals and as such, may not match with a report on a commodity's fundamentals. Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. No part of this material may be duplicated in any form and/or redistributed without ADMISI Commodities Private Limited prior written consent. 5
© Copyright 2024