Outside the trend: Malaysian palm oil futures jumped to a one-week high on Wednesday, following the Chicago Board of Trade (CBOT) soybean oil futures strong gains, but next week in Kuala Lumpur, an industry conference held before the market sentiment to remain cautious. BMD benchmark May CPO futures ended up 2.2% at MYR2,831 a tonne, the biggest gain in two months. Earlier hit the highest since February 21 2,835 ringgit.
Domestic trend: March 2, palm oil 1705 contract rose slightly, opening 5898 yuan / ton, closing 5876 yuan / ton, up 0.20%, 12032 to 485396 hand positions to reduce the hand.
Message:
1, the United States Renewable Fuels Association: Trump government will cancel the refinery in gasoline mixed with biofuel requirements; it is reported that the US biofuel program adjustment, including bio-fuel producers tax relief; White House statement, is not ready to prepare the relevant ethanol Fuel administration order.
2, Hamburg, Germany's industry news oil world, said 2016 global palm oil stocks fell 340 to 3.5 million tons over the previous year.
According to data released by shipping survey agency SGS on Tuesday, Malaysia's palm oil exports in February were 1,018,604 tonnes, down 12.0% from 1,157,288 tonnes in January.
Spot: March 2, Tianjin: traders offer, 24 degrees palm oil 6160 yuan / ton. Shandong Rizhao area: factory price, 24 degrees palm oil 6150 yuan / ton. Guangdong Guangzhou area: factory price, 24 degrees palm oil 6060 yuan / ton.
Zhangjiagang area: traders offer, 24 degrees palm oil 6100 yuan / ton. Fujian area: factory price, 24 degrees palm oil 6130 yuan / ton. Dongguan area: Want to offer, 24 degrees palm oil 5980 yuan / ton.
Summary: US biodiesel policy may be adjusted, good in the US soybean oil, indirectly boost domestic oil rebound. Technically, the palm oil 1705 contract rose slightly, oversold after the technical adjustment needs with the message surface stimulation, short-term continued rebound trend, the top pressure attention 6,000 yuan / ton line. Operation, the proposed 5700-6000 yuan / ton range of transactions.