Edible Oil Market Update
📈 KLC Maintains Uptrend:
• Opened higher today and continues to rise in mid-day trading.
• After recovering sharply from lower levels, it is now hovering in a sideways range.
🌱 Soybean Oil Update:
• Up 0.59%, closing at 46.25 cents per pound.
• Donald Trump’s 100% tariff threat supported the recovery.
• Brazil’s soybean production estimate reduced from 166.32 million tons to 166.01 million tons.
• U.S. weekly soybean exports: 209,800 metric tons, much lower than trade expectations.
âš Market Volatility Continues:
• Uncertain tariffs and mixed fundamentals will keep the market fluctuating.
• Big companies are spreading duty rumors to clear old stock.
• Soybean oil stock at ports is more than sufficient, even covering the shortage of palm oil.
📌 Advice for Traders:
• Be cautious about purchasing large stocks amid tariff uncertainties.
• Focus on buying stock as per requirement, considering the market trend.