Thursday, 10 May 2012

Palm Oil, Corn, Wheat and Agriculture Preview

By Paul A. Ebeling, Jnr.
Malaysian Palm Oil futures edged lower, as political uncertainty in the EU + some industry data due the Thursday deterred traders from taking risky positions on Wednesday.
Currently it is more like a positioning ahead of the MPOB (Malaysian Palm Oil Board) data and USDA (US Department of Agriculture) report.
Lean Hog futures finished 0.15 to 0.725 higher in the June through Apr 2013 contracts, which was a mid-range close. Front-month May futures closed 0.175 lower. Lean Hog futures firmed Wednesday in the face of negative outside markets. While that may be a sign the market is in the process of finally putting in a low, futures have been beaten down lately and are in need of a corrective bounce.

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