Crude Palm-Oil Prices May Be Under Pressure in 3Q -- Market Talk

Dow Jones04-01

0217 GMT - Crude palm-oil prices may be pressured in 3Q by rising supply of soybeans from the U.S., Maybank IB analyst Ong Chee Ting says in a note. According to the USDA's Prospective Plantings report, U.S. farmers are likely allocating more land to soybean cultivation this season and potentially reducing corn production, he says. A higher supply of soybeans could pressure palm oil as the harvesting period for U.S. soy typically aligns with palm oil's peak season from August-October, he says. The USDA's Acreage Report on June 28 will confirm U.S. farmers' planting decisions, he notes. Maybank keeps a neutral rating on the Southeast Asia plantation sector, pegging Bumitama Agri and Sarawak Oil Palms as its top picks. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

March 31, 2024 22:17 ET (02:17 GMT)

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The USDA's Acreage Report on June 28 will confirm U.S. farmers' planting decisions, he notes. Maybank keeps a neutral rating on the Southeast Asia plantation sector, pegging Bumitama Agri and Sarawak Oil Palms as its top picks. 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According to the USDA's Prospective Plantings ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6509","symbol_name":"食品和饮料股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2424373561","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2424373561","pubTimestamp":1711937820,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0217 GMT - Crude palm-oil prices may be pressured in 3Q by rising supply of soybeans from the U.S., Maybank IB analyst Ong Chee Ting says in a note. According to the USDA's Prospective Plantings report, U.S. farmers are likely allocating more land to soybean cultivation this season and potentially reducing corn production, he says. A higher supply of soybeans could pressure palm oil as the harvesting period for U.S. soy typically aligns with palm oil's peak season from August-October, he says. The USDA's Acreage Report on June 28 will confirm U.S. farmers' planting decisions, he notes. Maybank keeps a neutral rating on the Southeast Asia plantation sector, pegging Bumitama Agri and Sarawak Oil Palms as its top picks. 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