📉 Edible Oil Market Update

KLC (Malaysian Palm Oil):

KLC opened weak today due to lack of support from soybean oil and DCE (China). Current fundamentals have capped KLC’s bullish momentum around the 4000 level. A fresh trigger is required for KLC to break above 4000, which is currently lacking. The upcoming Malaysian palm oil stock survey and June export/production data will provide further clarity on market direction.

CBOT (Soybean Oil - US):

CBOT soybean oil closed higher yesterday, supported by strength in crude oil. Crude oil gained due to resistance in US-Iran nuclear talks. However, uncertainty surrounding Trump’s biofuel policy continues to weigh on soybean oil sentiment. For July contracts, technical support is seen near 44.20, up to which the correction may continue.

Impact on Domestic Market:

Due to volatility in global markets and limited demand in the spot market, all edible oils—except mustard oil—remain under pressure. A lack of clear fundamentals, uncertainty over US biofuel policy, and expectations of a reduction in Indian import duties are also dampening sentiment.

🔍 Conclusion:

Traders are advised to wait for clarity on the above factors before making bulk purchases.