Daily Global Palm Price Outlook and Strategy

Decision enabling market analysis & price outlook

Report for the day: 2022-Mar-01

Malaysia Palm Price Outlook Summary

01-Mar Market would remain volatile looking at the uncertainty over the supply of Sunflower oil from Black sea region
2022 depending on the developments over Russia-Ukraine war situation.

BMD CPO 3M Futures MY RBD Palm Olein 1M

  MY CPO FOB USD/MT MY Palm Stearin USD/MT
MYR/MT  Forward USD/MT

Last
6292.00 1780.00 1825.00 1740.00
Close

Change +308.00  +100.00 +105.00 +90.00

Prices are likely to hold the Prices are likely to hold Prices are likely to hold Likely to hold above the
support near MYR 6000  above the support of  USD above the support of  support of  USD 1580 and
Price
 and trade on sideways to 1650  and trade on positive  USD 1680  and trade on trade on sideways to
Direction
positive note towards  note towards  USD 1900  positive note towards  positive note towards   
& Range
MYR  6500-6800 in the  and higher in the coming USD 1900   in the coming  USD 1850    in the coming
coming days. weeks. weeks. weeks.
APEX Palm Oil May\’22
  MY PFAD USD/MT USDMYR Spot  
Futures USD/MT

Last
1630.00 1672.75 4.1960  
Close

Change +90.00 +92.25 -0.0025  

Prices are likely to hold

Likely to hold above the
above the support of USD
Price support of  USD 1470 and
1490  and trade on
Direction trade on sideways to    
sideways to positive note
& Range positive note towards  USD
towards USD 1750 in the
1700  in the coming weeks.
coming weeks.

Trading Strategy- Update

01-Mar Entry Stop
Market Contract Position Entry Objective
2022 Date loss

MAY
      Buy 6250 – 6500 6000
Fresh / Contract
Open BMD CPO FUTURES, MYR/MT
  Add-on Buy 6150   6500 6000
Position
           

Strategy
 For fresh positions traders may consider the above mentioned strategy.
Review

..

Market News Global Palm 28-Feb-2022

As per latest data released by cargo surveyor ITS, Malaysia’s Feb 1-28th Palm oil export were estimated at 1.260 MMT,
up around 7% MoM from the 1.176 MMT shipped over Jan 1-31st. Amspec estimated Malaysia\’s palm oil exports
during Feb 1-28th were up 9.6% MoM to 1.21 MMT.

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Daily Global Palm Price Outlook and Strategy
Decision enabling market analysis & price outlook

Indian traders are contracting to import of 50k MT of soy oil from US and Brazil and 50k tonne of Palm oil from
Malaysia as sunoil shipments are delayed following Russia’s invasion of Ukraine.

As the Ukraine- Russia war escalates, the risk of logistical turmoil is also rising fast across commodities markets.
According to sources, logistic insurers are said to be refusing to offer cover for vessels sailing into the Black Sea or
charging significantly higher premiums for the same.

According to SPPOMA, Feb 1-25th Palm oil production in P. Malaysia rose 13.69% from a month ago, yield rose 14.74%
while OER remained down by 0.20% MoM.

Technical Outlook BMD CPO 3M FUTURES, MYR/MT 01-Mar 2022

BMD CPO 3rd Month Futures prices traded gap up and ended on positive note snapping its preceding session\’s losses
but trading within the previous sessions trading range and settled at MYR 6292 with a gain of MYR 308.00.

Prices post breaching above October 2022 swing high of MYR 5222 made new high of MYR 6470 during the previous
week and are presently trading below the previous week\’s high.

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Daily Global Palm Price Outlook and Strategy
Decision enabling market analysis & price outlook

BMD CPO 3rd Month futures in USD/MT traded on positive note and settled at USD 1495 after making fresh new high at
USD 1541.027 in the previous week and trading within preceding trading range.

The daily momentum oscillator is seen turning up after easing within overbought zone.14 period RSI is also turning up
once again after easing from deep overbought territory. while stochastic is turning lower flat in overbought territory
indicating near term consolidation.Prices after testing upper Bollinger Band line turning lower.

The total open Interest was lower in the current session as prices are witnessing sharp gains indicating lightening of
short positions by traders.

On the higher side MYR 6500 shall act as immediate resistance followed by MYR 6800.

On the lower side MYR 6000 shall act as immediate support followed by MYR 5800.

Concisely, BMD CPO 3M Futures prices are likely to hold support near MYR 6000 and trade on positive note towards MYR
6500 and higher in the coming days.

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