News summary
Palm oil 2409 contract moves down limitedpennfierce3liveliner6000The support level is at 7150. Supply in Southeast Asia has improved and quotations have become loose. It is recommended to go long on dips after adjustment and pay attention to the MPOB report and domestic inventory situation.
Newsletter text
Palm oil futures prices gain solid support, and market expectations increase after South American soybean production is digested
Although major palm oil-producing areas in Southeast Asia are facing seasonal increases in output, the market believes that the possibility of a decline in the palm oil contract p2409 is affected.pennfierce3liveliner6000Limit, and strong support at the 7150 price point
As the external oil and fat market benefits from the gradual digestion of the soybean harvest pattern in South America and the expected impact of the climatic conditions for US soybean planting, oil and oil prices are expected to show a phased strengthening.
In terms of monitoring the investment strategy of the palm oil 2409 contract, investors are advised to look for opportunities to enter the market at a low level after price adjustment, and also pay attention to the MPOB report, Malaysia's palm oil production and export data, and China's import and inventory situation.