Edible oils and Palm oil where too next before the holidays

So the US and China have called a truce at least for the next 90 days. The current war has been hurting both sides so a truce for 90 days seems like a step in the right direction For now though the markets have seen this in a positive light hoping the truce will ease the negative pressure that was slowing world economic growth. Crude oil price has been falling in some part because of this war so will that decline halt?  With Asian countries also moving once more to blend edible oils for bio fuels so there is hope that current surplus’s will diminish. However its going to take some time for this blending to start so stocks may still rise over the holidays. So its probably going to be a very uncertain couple of weeks going forward. Coconut oil has risen in last few days tracking Palm oil but its not much and falls short of a trend at the moment. We watch and wait to see what impact trade war truces will have this week.

Desiccated prices remain weak although shippers are keenly watching edible oil prices for any sign of a rise. You can expect price to go up if coconut oil starts to move up as well. But we do still have major shippers with weak order books so there are some bargains to be had on nearby positions. Just some buyers would like those prices throughout next year. Its certainly an early Christmas gift if you are short.

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