Sunoil: Muted Black Sea market nudges lower at start of week
Agricensus APM-16 sunoil assessment: $674/mt FOB Chornomorsk for loading dates 20-40 days forward, down $1/mt
The Black Sea sunoil market nudged down at the start of the week, after a flurry of deals on Friday, with sellers lowering offers in search for limited buyers in the market.
The APM-16 was assessed $1/mt lower at $674/mt.
February and March were each valued $1/mt lower at $675/mt and $673/mt, respectively, based on a lower Q1 market, although neither shipment dates were discussed on Monday.
Offers for Q1 opened in Chornomorsk at $675/mt but edged lower to $673/mt by the end of the day.
Bids increased to $671/mt, but no deal was heard concluded.
That moved Q1 assessment down $1/mt to $672/mt.
Over on the destination markets, CIF India for March shipment was valued lower at $725/mt, with offers around $735/mt and with Q2 offers lower at $730/mt, yet trade remained.
In the futures markets, Malaysian palm oil futures climbed marginally higher by MYR7/mt on Monday to MYR2,306/mt ($563.8/mt) on the April contract ahead of a two-day holiday.
That lead US soyoil futures higher after suffering heavy losses at the end of last week and were trading 21 points higher from the open on the March contract at 30.10 ct/lb ($663.6/mt) by the London close.
Over in Argentina, February soyoil remained unoffered with buyers at 150 points over March, while oil for March loading was offered at 100 points over against no clear buyer.
