Oriental Futures the formation of the rising channel palm short-term bullish windjview

Oriental Futures: the formation of the rising channel palm short-term bullish client view the latest quotes from the core logic: palm oil producing countries of Malaysia inventory, production and export data, still support prices. The domestic palm oil imports from low stock prices upside down, and the spot market prices, continue to support futures prices upward. Therefore, palm oil futures in the recent sideways after the adjustment still up space. Operation, is recommended to do more dips. Trading strategies: palm oil varieties: direction: the short-term bullish opening point: palm oil 1701 contract stop: the total capital of 20% positions: more than 50%, according to the situation of risk adjustment: the Malaysia domestic oil production peak at the end of the weak fundamentals, a producer of palm oil supply in Malaysia Malaysia Bureau released the October 10th monthly supply and demand report, September palm oil stocks increased 5.67% from the previous month to 1 million 550 thousand tons, the end of August palm oil stocks for 1 million 460 thousand tons, is still in a low state bullish price. Figure 1: Malaysia palm oil inventory data sources: wind, orient Futures Research Institute of Malaysia palm oil production in September from the previous month increased slightly from 0.78% to 1 million 720 thousand tons, the output speed of recovery is expected, continue to support the price of palm oil. Figure 2: Malaysia palm oil production sources: wind, Oriental Futures Institute of palm oil exports in September dropped 20.4% QoQ to 1 million 450 thousand tons, mainly due to China and India’s two biggest consumer purchase reduction, export report data of Malaysia palm oil prices bearish. Figure 3: Malaysia exports of palm oil sources: wind, Eastern Futures Institute two, domestic palm oil supply situation of current palm oil import price upside down, the loss of imports in 280 yuan, the enthusiasm of the direct inhibition of the import covering inventory. Figure 4: domestic palm oil imports profit sources: wind, Eastern Futures Institute 1-8 months, China’s imports of palm oil totaled 2 million 600 thousand tons, compared with 3 million 730 thousand tons last year, down 1 million 130 thousand tons, a decline of up to 30%; August imports of palm oil 403249 tons, down 25.58%. Financing trade has been basically curbed. Figure 5: domestic palm oil imports sources: wind, Oriental Futures Institute as of October 19th the national port of palm oil inventory is 310 thousand tons, is still at historically low levels, due to the slow recovery of imported hysteresis inventory, the formation of strong support for the price of palm oil. Figure 6: domestic palm oil port inventory sources: wind, Eastern Futures Institute by the end of October 19th, the domestic palm oil spot and futures price in 306 yuan, cash boost on the formation of futures, the price is still on the action. Figure 7: domestic palm oil based sources: wind, Oriental futures.相关的主题文章:

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