ATHENA MARKET BUZZ

  1400 30052025 ATHENAMARKETBUZZ Thursday   Good Morning, MDEX opened unchanged, and by lunch, August settled at RM 4006, down 28 points. At the time of writing, August is trading at RM 3878, down 56 points. Palm staged a strong rally yesterday, which was expected. Consolidation around RM 4000 is anticipated, but we now see more strength in this market and expect palm to continue its bull run and try to make new highs. By next week, MDEX is likely to cross the RM 4000 mark consistently, and dips this week should be bought. Soft oils are firming up despite the board showing a correction, as basis levels have strengthened, pushing flat prices higher. The spread between bean oil and CPO is almost USD 100 PMT for nearby contracts and about USD 50 for forward months. This spread favors palm, and we should see destinations like India and the Middle East continue to consume more palm products compared to soft oils. The RSI for palm is below 50%, and most technical indicators are ...

1430 28052025 ATHENAMARKETBUZZ TUESDAY Good Morning, As expected, MDEX is attempting to test the RM 4000 mark, having already reached a day's high of RM 3968. At the time of writing, we are trading at RM 3953, up 83 points. Exports are picking up in Malaysia, and we expect overall May exports to be at least 10% higher, pushing sentiments higher. Palm oil remains the cheapest option for destinations like India and China. With increasing global tensions, consumers are likely to prefer palm oil over other costlier soft oils. The Indian market is experiencing high temperatures and strong consumption. Local rapeseed oil and refined soybean oil are already surging ahead, leaving enough room for palm oil to rally. CPO to India is already indicated around USD 950-955, and ROL is indicated around USD 915, which is about USD 110 lower than sunflower oil and about USD 1000 lower than bean oil. As mentioned before, MDEX should test the RM 4000 mark this week and consolidate a bit before rallyi...