ATHENA MARKET BUZZ

1530 31072023 Athena Market Buzz Monday Good Morning,  Mdex opened lower and the downward momentum was maintained the entire day. By lunch Oct was trading at RM 3923-83 and at the close we are trading at days lows of Rm 3870-136 over 3% down. Profit taking at price of RM 4000 and slightly improved weather in USA resulted in this correction. Destinations like India and China have bought enough cargo which may result in lower shipments from Malaysia this Aug 2023 also weighed on sentiments. As mentioned before palm will try to test RM 3750 again and prices between RM 3450-3550 will become attractive to make longs. CPO prices to India were offered between USD 940-950 depending on position and we heard sone trades for Aug at USD 935 for Krishnapatnam port.  We can expect some more correction in prices tomorrow and then mostly it will become a buy. CBOT bean oil settled marginally lower on Friday with Sept 65.64-18 and Oct 63.52 +16 which at the time of writing this report is tradi...

1320 28072023 Athena Market Buzz Friday   Good Morning,  A happy Friday to every one. Ukraine is constantly getting targeted by Russian forces mostly at port areas. Odessa/ Yuzhney/ Danube region is facing some damages and this is the reason why we still see higher prices trading in Europe and Turkey. It appears that Turkey is not confident of brokering peace any more between the two nations and is willing to pay higher to stock sunflower oil. Izmir after trading 1020, and Mersin after trading 1035/1040 we are seeing the offers now at USD 1045 for Mersin. Europe is already looking at offers around USD 1080 and we heard some trades of Ukraine origin sunflower oil to India at USD 1060-1055. Egypt picked about 33000 mt of sunflower oil at 1080 and it appears that we will soon see sunflower oil racing towards USD 1150-1200 for CNF India. No new vessels are calling to load in Ukraine and its only earlier commitments which are getting loaded. Its also not sure how long the shipments...