Athena Buzz

1530 27092023 Athena Market Buzz Wednesday 



Good Afternoon,


Happy Anant Chaturdashi to every one. 


I'll be traveling starting today, so I won't be able to provide regular market updates until Monday.


Our views remain unchanged. In the MDEX market, it is advisable to consider buying between RM 3550-3450 and selling long positions at RM 3850-3950. For those interested in shorting, it's recommended to wait until RM 4250 is reached. Sunflower oil continues to be an attractive option, with anything below USD 900 for spot purchases and anything below USD 850 for forward contracts considered a good ownership opportunity.


CBOT may experience a slight decline, potentially drifting towards 56.50 or lower with strong support at 54.50, but the basis may adjust, causing a slight decrease in flat prices. CBOT soybean prices have crossed the 13.00 mark again due to a surprising deterioration in crop conditions, declining from 52% to 50%. The USDA has also forecasted lower crop numbers, and with worsening conditions, investors are concerned about overall crop prospects.


In India, Refined, Bleached, and Deodorized (ROL) palm oil is being offered at around USD 840, and we understand that some cargoes have already been traded. Sunflower oil offers are at approximately USD 910, with buyers looking to price nearby cargoes at 885 or lower. Bean oil offers are around USD 985, and similarly, buyers are exploring pricing options around 930, making comparisons with Russian-origin cargo. From a technical standpoint, the sunflower oil market appears stable, and countries like India and China are once again showing interest. Local stocks are being consumed, and we anticipate more import demand. We continue to recommend that traders maintain their long positions in spot cargo and wait to enter forward long positions when they observe CIF India offers at or below USD 850 per metric ton.


  • Argentina SBO
  • Oct 23 -1640/-1670
  • Nov 23 -1630/-1670
  • Dec 23 -1600/-1660
  • JF 24 –/-1650
  • Mch 23 –/-1700
  • MJJ 24 -1400/-1750
  • Brazil SBO
  • Oct 23 –/-1720
  • Nov 23 -1620/-1720
  • Dec 23 -1540/-1680
  • JF 24 –/-1680
  • Mar 24 –/-1720
  • AM 24 -1420/-1750
  • 6 ports Europe SFO 6 ports
  • Oct   $915 vs $870
  • OND $915 vs $870
  • JFM  $930 vs $890
  • AMJ $940 vs $890
  • Palm oil Market Close 
  • Bmd : Dec 3773 (+81)
  • H 3806 / L 3676
  • Vol :  81,364
  • Oln  
  • Oct 832.5 vs  
  • Ond 842.5 vs 
  • Jfm 862.5 vs 855 trd 850-860
  • Amj 867.5 vs 860 trd 867.5-865
  • Jas 860 vs 852.5
  • Ond 860 vs
  • Rbdpo: -5
  • Strn: Oct 780 (deld) 
  • Pfad: Oct 770 (deld)
  • Local Cpo: Oct 3730
  • Laurics
  • Cpko: Oct 231 (pk) / 232 (pg)
  • Rbdpko: Oct 900
  • Rbdpkoln: Oct 860
  • Rbdpks : Oct 1020
  • Sbo :  
  • Oct 5936 (+50)
  • Dec 5825 (+54)
  • Jan 5773 (+56)
  • Dce : 
  • Jan 7320 (+78)
  • May 7358 (+60)
  • Black Sea Sunflower oil FOB indications only 750 vs —
  • Russian sunflower oil  indicative at 745 vs —
  • Spain offered for ON at USD 890 vs —
  • Italy indicated for ON at USD 885 vs —
  • CIF India indications for ON at 910 vs 885
  • Turkey not offered at the moment
  • Currency INR 83.17, RM 4.7040, Rub 96.48, and Euro 1.0560

Thanks and regards


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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