Athena Market Buzz

1600 13042023 Athena Market Buzz Thursday 


Good Morning ,

Mdex opened marginally lower and again we saw good profit taking. By lunch time July was trading -52 at RM 3591 which at the time of writing this report is trading at RM 3579 -64. Mdex should see more selling pressure and prices for June and July could trades between RM 3450-3250. As mentioned before we would suggest our readers to make longs in the said range with a stop loss at RM 3250. Over all the Indonesians will come and eventually will start selling their palm to destinations like India and China which will again Put pressure hence we don’t see any significant rally in palm. Prices if go towards RM 3750-4000 one should again exit longs and if the prices go higher over 4150 one should be prepared to make shorts. 


CBOT July settled -85 at 54.16 and at the time of writing this report we are trading 53.71 -45. As expected basis have improved to -1100 and board might correct more. We see support at 52.50 and once it breaks 52.50 we expect the market to trade below 50.00. CNF India the prices for MJJ is around USD 1010 and against this sunflower oil sellers are showing a price of USD 990-985 with little or no demand. Degum flat price is attractive and we could see some demand at current levels. Indian market is seeing less crushing in beans and with appreciating INR we don’t expect major export contracts or better realisation from Meal. This could help bean oil find support and we would suggest all our readers not to panic and keep owning the current prices which may trade in a 10% range. Locally in India we have heard some trade for degum soybean oil at INR 92,000/- and more sellers are seen with buyers now looking to price at 91,500/- these prices are already lower than cost price and appreciating Rupee may result in some dollar trades.


Ukraine sunflower oil was offered to India at USD 1000 with buyers looking to pay much lower. Russian sunflower oil to India was offered at USD 990 and buyers were at USD 950. Locally in India we sae good trades yesterday but today so far we are treadless. War continue to create issues and this is pushing vessel logistics to find innovative ways. Sellers are looking aggressively for destinations and farmer selling also resumed in local markets. India continues to be top destination for sunflower oil and we expect it will remain so in coming year too. 



  • Argentina SBO
  • Apr 23 -950/-1150
  • May 23 -1100/-1150
  • JJ 23 -1100/-1190
  • AS 23 –/-1190
  • Brazil SBO
  • May 23 -1060/-1150
  • Jun 23 -1080/-1220
  • Jul 23  -1000/-1230
  • AS-23 -750/-1220
  • OND-23 –/-1190
  • 6 ports Europe Spot 1000 vs 965
  • MJ 1000 vs 970
  • JAS 1010 vs 980
  • OND 1000 vs 980
  • Palm oil Market Close
  • Bmd : Jun 3715 (-60)
  • H 3804 / L 3673
  • Vol :  81,845
  • Oln:  
  • May 960 vs 
  • Jun 920 vs 
  • Jas 865 vs 860 trd 865
  • Ond 860 vs 852.5
  • Jfm 865 vs 
  • Rbdpo: -7.5
  • Strn: May 912.5 (deld) 
  • Pfad: May 775 (deld)
  • Local Cpo: Apr 4250
  • Laurics
  • Cpko: Apr 238 (pk) / 240 (pg)
  • Rbdpko: Apr 1000
  • Rbdpkoln: Apr 925
  • Rbdpks: Apr 1360
  • Sbo : 
  • May 5353 (-47)
  • Jul 5367 (-49)
  • Aug 5349 (-47)
  • Dce :  
  • May 7648 (-208)
  • Sep 7116 (-188)
  • Black Sea sunflower oil May FOB 875 vs —
  • Russian sunflower oil May 870 vs—
  • Spain indicated May / June at 1000 vs—
  • Italy indicated  May/ June at 995 vs-
  • CIF India indication for russian cargo 990 vs —
  • Turkey not offered at the moment
  • Currency INR 81.79, RM 4.39, Rub 81.58, and Euro 1.1013




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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