Oil demand slowed, the market outlook is difficult to change weak
Soybean oil: With the end of the domestic holiday, oil plant operating rate gradually picked up, the next two weeks, soybean crush will rise to 172 and 1.9 million tons, soybean oil stocks have increased to 1.48 million tons, many soybean oil stocks pressure , Constantly urging dealers to pick up. But the current holiday just over, the market is not high enthusiasm for procurement, so consumption is limited. And 11,12 months to reach the total amount of soybeans or over 18 million tons, in the face of such a huge amount of arrival, the oil plant had to fully boot, the next period of time the oil plant operating rate is expected to remain high, soybean oil production Will continue to increase, the supply pressure is difficult to eliminate, soybean oil market, “pressure mountain”, the lack of new interest and more information before the guidelines, the next period of time the domestic soybean oil spot cargo shock weak operation. During this period, also need to pay attention to the impact of the US Hurricane on the final yield of US beans, as well as South American sowing the early weather speculation perturbation.
Vegetable oil: Recently, vegetable oil futures performance is weak and the spread of vegetable oil throwing may have a great relationship. It is reported that after last year and the first quarter of this year’s sell-off. Before the holiday, the National Grain and Oil Exchange Center announced that in order to effectively do a good job of corn and soybean acquisition, to encourage all types of market players actively into the market acquisition of new grain, stable market expectations, will be the end of October 2017 to suspend the national temporary storage of corn and soybean auction Sales. At present, rapeseed is relatively yellow and yellow, vegetable oil prices are relatively high, in order to speed up the inventory, after the suspension of the soybean throwing, the government is likely to sell the remaining Pro vegetable oil. At the same time, as of October 6, Guangdong and Guangdong and Fujian vegetable oil stocks rose to 122700 tons, 117,000 tons last week, an increase of 5700 tons, an increase of 4.87%, but over the same period last year to reduce the 4.14% 128000 tons. When the market supply of vegetable oil will continue to increase.
US soybean demand: USDA10 month consumption and demand report will be published on the current system, according to Reuters found that the agency survey, 17/18 annual US soybean average yield of 50 bushels / acre, compared with the previous month supply and demand forecast ( 49.9 bushels / acre) is slightly raised, with an estimated range of 49.1-52.1 bushels / acre. At the same time, the agency’s average estimate, 17/18 annual US soybean harvest area will be 88.371 million acres last month, raised to 89.917 million acres, which led to this year’s US soybean production forecast average increased to 4.447 billion bushels (estimated interval in 43.34-49 billion bushels). On the other hand, the analyst firm has reached a consensus on the USDA’s downside stocks in the report. The average price of the US soybean ending stocks in the 17/18 year was 447 million bushels, down from the 475 million bushels projected by the USDA last month, with an estimated range of 375.5 million bushels.