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Beyond the Black Stump | Since i'm an Oilers fan Alberta Farmer - see below spread of BO1 & KO1.
If bean oil breaks though 28c/lb could be interesting move to the upside.....?
This El Nino story seems to have a touch of the "boy who cried wolf"! in regard to SE Asian palm yields - who have been banging on about it for the last 6 months - while prices continued to nudge lower (until last month!). Rains may well in deed dry up over the last six months, but healthy stocks, mineral crude oil prices in the toilet (with processors diverting more volumes into the vegetable oil market at the expense of biodiesel) may make it difficult to rally like it has in prior El Nino years. This sharp decline in MYR (think it is the worst performing against East Asian currencies this year?), may also be a strong indicator why palm rallied 22% since hitting a 5 1/2 year low in late Aug. Maybe expect this KO1 to run out of steam soon- unless brent/wti has a turn higher.
 (bean oil.png)
 (palm stocks.png)
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 bean oil.png (80KB - 47 downloads)
palm stocks.png (41KB - 45 downloads)
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What does the soyoil chart look like now? Or Palm Oil? nt.
