Crude oil

OK so today crude oil prices have started to move up slightly on news that US production dipped in June lower then expected. Add in OPEC talk about prices and crude oil rose 8%. But for edible oils still the market is weaker as continued weak demand along with good crops and very high stocks all weigh the market down. But if crude has reached its bottom then maybe this may spill over into edible oils. For now though edible oils are predicted to be move even lower this week.

Desiccated prices have been tracking lower as they follow edible oil prices. But the weakness is not great as actual demand is strong at the moment helping to stop prices falling too far. But with September we move towards the strongest part of the typhoon season so watching the weather is key. Also if oils prices start to stabilize we should start to see strong buying interest well into next year!