Athena Market Buzz

1600 30012023 Athena Market Buzz Monday 

Mdex opened firm and as expected the market attempted to jump to RM 4000. We made a days high in April of RM 3991and then we saw some selling and at the time of writing t his report we are trading April at RM 3930 +28. We expect the market to consolidate some here and we would suggest our longs to wait for prices to jump over Rm 4000 to exit and wait for RM 4250-4450 to go short. The supports of Rm 3750 are most likely to hold this week but if the prices go below RM 3750 then one should be ready to make longs between RM 3450-3750. Its been raining a lot in Malaysia and Indonesia with little damage on Palm. CPO price in India have jumped a little higher with indications at USD 1020-1030 against this we have not heard any local trade. 


CBOT bean oil settled marginally lower on Friday with May at 60.83 -13, July 60.78 -5 which today is trading about 1.4% higher at May 61.44 +82, and July 61.63+81. Basis on other hand have improved to -750 for spot months which has improved the flat price. CNF India the price indications are around USD 1230-1220 for MA and locally the sellers are at INR 1100 where we are seeing close bids at 1090. Before the budget we are hearing all sort of rumours like removal of  TRQ on Sunflower oil and may be higher import duties as the price of vegetable soft oil now are  in control. Bean oil will find resistance again at 62.50-64.50 and we will see selling interest around there, on the down side supports of 57.50 should remain intact with long term (quarterly) supports at 54.50 intact.


Ukraine sunflower oil has improved in offer with CNF India indications only at USD 1250-1260 , Russian oil at USD 1240-1250 and Argentine cargo indicated at USD 1220-1230 against this buyers are looking to buy cargo for FM about USD 30 lower. Locally there is enough sunflower oil cargo and all eyes are on Indian budget. Turkey is keen to buy some cargo and is paying higher than other destinations which is helping sellers divert the cargo there. Egypt too is coming out to buy some cargo for Feb hence destinations like India and China will eventually have to pay up. Spot cargos in sunflower oil should be owned and one should wait for forward months to be offered at PAR with bean oil own the same. 



  • ARG SBO
  • Feb -750 vs -800
  • Mch -950 vs -1020
  • MJJ -1100 vs -1180
  • BR SBO
  • Feb -780 vs -850
  • Mch -900 vs -1020
  • AM -1100 vs -1220
  • JJ -1120 vs -1250
  • AS – vs -1070
  • OND - vs -1050
  • 6 ports Europe RSO FDM (€)
  • Feb-23 1090/1030
  • Mar-23 1085/1038
  • Apr-23 1090/1050
  • FM-23 1088/1033
  • MA-23 1088/1043
  • FMA-23 1088/1038
  • MJJ-23 1100/1070
  • ASO-23 1105/1070
  • NDJ-24 1110/1075
  • Palm oil Market Close 
  • Bmd : Apr 3930 (+28)
  • H 3991 / L 3916
  • Vol :  57,903
  • Oln: 
  • Feb 985 vs
  • Mar 985 vs 
  • Amj 985 vs 975 trd 990-980
  • Jas 980 vs 972.5
  • Ond 980 vs 
  • Rbdpo: -10
  • Strn: Feb 950 (deld) 
  • Pfad: Feb 720 (deld)
  • Local Cpo: Feb 3950
  • Laurics:
  • Cpko: Feb 240 (pk) / 242 (pg)
  • Rbdpko: Feb 1040
  • Rbdpkoln: Feb 990
  • Rbdpks: Feb 1460
  • Sbo : 
  • Mar 6145 (+83)
  • May 6162 (+80)
  • Jul 6154 (+76)
  • Black Sea sunflower oil FOB indications 1135 vs —
  • Russian sunflower oil indications only 1130 vs —
  • Spain indicated for FM 1240 vs —
  • Italy indicated for FM 1235 vs—
  • CIF India indicates for FM 1250 ukr vs 1220
  • Turkey indicated for March 1220 vs 1200
  • Currency INR 81.45, RM 4.24, Rub 69.56, and Euro 1.0908



Vivek Pathak 

Athena Tradewinds 

(All views are personal and we do not claim to be 100 % correct. Trade very carefully and at your own risk) 

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