Friday, 1 November 2013

Palm oil at 1 year high!!!

hang on to the agri stocks...CPO hit 1 year high..

Wednesday, 30 October 2013

wow! Dow jones is marching towards 15,800 which i mentioned earlier.....once it hits this level, if it cannot break it and stays above it....it is likely to pull back.....Now is not a good time to buy Dow Jones...risk vs reward ratio not good enough....

review Ho Bee and UOL.

Ho bee hit 2.07
UOL hit 6.60....broke resistance at 6.485...might re-attempt 7.00!!! wait and see....cannot break, take profits...

Ho Bee investments.

NAV $2.7, price was $2.00 yesterday. Price to NAV: 0.74...not bad.
Daily share buy back took place at $2.00
Technically, it has rebounded from the 200 days MA.

check out what I see on UOL Group Limited at http://myfcoach.com/.

Palm oil at 8 month high!!!

No surprise the agri (plantations) stocks are rallying.....the speed is abit too fast(stocks are overbought...)....so might have a consolidation soon.

Hee Hee...i spotted the commodities rally back on 17th Oct 2013.

Golden agri 0.595 (trying to bridge the gap at 0.60-0.625!) ....if can stay above 0.625 then might go back to 0.66..Huat la!!!
Indoagri. 0.895 (hit intra day high of 0.915).....going to face 0.945 resistance...might pull-back.
Wilmar 3.50
Olam 1.565(consolidating before another leg up)

Palm Oil Extends Rally to Eight-Month High on Supply Concerns

By Ranjeetha Pakiam - Oct 30, 2013 2:46 PM GMT+0800

Palm rallied to the highest level in eight months on speculation that output in Malaysia, the world’s second-largest producer, will drop starting next month because of growing cycles and the onset of monsoon.

The contract for delivery in January advanced as much as 2.3 percent to 2,555 ringgit ($810) a metric ton on the Bursa Malaysia Derivatives, matching the intraday high for futures on Feb. 22, before trading at 2,551 ringgit by the midday break. Palm for physical delivery in November was at 2,540 ringgit, data compiled by Bloomberg show.

While palm oil is produced year-round, output peaks from July to October, before tapering off. Prices are heading for a 10 percent gain this month, the most since December 2010, on expectation that the monsoon season that usually begins in November would slow production. The 14-day relative strength index for futures was at 73.5, the highest since Aug. 28. Some traders see readings above 70 as a sign that a drop is imminent.

“The market does look a little bit overbought,” saidCarey Wong, an analyst at OCBC Investment Research Pte in Singapore. “It could stay overbought for a while, before we have another spate of news which could justify taking profits.”

Isolated showers and thunderstorms are predicted over Sabah, Sarawak and Johor, the biggest palm oil producing states, according to a seven-day outlook on the Malaysian Meteorological Department’s website.

Refined palm oil for May delivery jumped 3.7 percent to 6,332 yuan ($1,039) a ton on the Dalian Commodity Exchange and soybean oil climbed 2.3 percent to 7,220 yuan.

Soybeans for delivery in January climbed 0.6 percent to $12.78 a bushel on the Chicago Board of Trade, while soybean oil for December gained 1.5 percent to 41.59 cents a pound.

Wednesday, 23 October 2013

Wheat Near 4-month high

btw spot wheat price has crossed 200 days MA.

Wheat Nears Fourth-Month High as South American Demand May Climb

By Whitney McFerron & Phoebe Sedgman - Oct 23, 2013 8:12 PM GMT+0800

Wheat traded near the highest price in four months in Chicago on speculation that South America may seek more U.S. supplies after dry weather.

The worst drought in 50 years in areas of Argentina, South America’s biggest wheat exporter, resulted in “irreversible damage” to the crop and eroded conditions for recently planted corn, researcher Oil World said yesterday. About 20.58 million bushels of U.S. wheat were inspected for export in the week ended Oct. 17, up 25 percent from a year earlier, the Department of Agriculture said. Brazil, the third-biggest wheat importer and a traditional buyer from Argentina, stepped up U.S. purchases this year, USDA data show.

“I struggle to be bearish wheat at these levels,” Chris Gadd, an analyst at Macquarie Group Ltd. in London, said by telephone today. “South American wheat in general looks pretty poor, not only in Argentina, but in parts of Brazil and Paraguay the situation is pretty bad. The U.S. is going to get an awful lot of demand, and the balance sheet is going to be tight.”

Wheat for delivery in December climbed 1 percent to $7.08 a bushel at 6:56 a.m. on the Chicago Board of Trade. Prices touched $7.1125 on Oct. 21, the highest since June 21. The grain is still down 9 percent this year as the USDA estimates global output may rise to a record 708.9 million metric tons.

Reduced Stockpiles

Wheat inventories in the U.S., the world’s top exporter, may drop to a six-year low of 15.3 million tons by the end of the 2013-14 season, the USDA said in September. The agency, which didn’t release monthly supply and demand estimates in October because of the U.S. government shutdown that ended last week, is scheduled to update its forecasts on Nov. 8.

Milling wheat for delivery in January rose 0.9 percent to 204.50 euros ($281.25) a ton on NYSE Liffe in Paris after touching 205.75 euros, the highest since June 5 for a most-active contract.

Wheat also was supported as excess rain in Russia and Ukraine kept farmers from planting some winter crops, said Simon Clancy, director brokering services at Ikon Commodities Pty Ltd. in Sydney. Russia may lose 4 million tons of wheat from its potential harvest after rains restricted sowing, the Institute for Agricultural Market Studies said last week.

Soybeans for delivery in January rose 0.5 percent to $13.0425 a bushel in Chicago. Corn for delivery in December gained 0.6 percent to $4.4075 a bushel after falling the most in two weeks yesterday.

Palm oil jumped to 7-month high

U might want to look at Golden agri resources.

Palm Oil Jumps to Seven-Month High as Inventory Concerns Ease

By Swansy Afonso - Oct 23, 2013 6:35 PM GMT+0800

Palm oil gained for a fourth day to the highest level in seven months on speculation that output inMalaysia may increase at a slower pace, capping inventories in the world’s second-largest producer.

The contract for delivery in January advanced 1.1 percent to 2,482 ringgit ($784) a metric ton on the Bursa Malaysia Derivatives, the highest price at close for most-active futures since Mar. 22. Palm for physical delivery in November was at 2,440 ringgit today, data compiled by Bloomberg show.

“The growth in output has not been much and this will keep inventory levels in check,” said Isha Trivedi, an analyst at PhillipCapital India Pvt. in Mumbai. “The ringgit pared its early gains supporting prices.”

Reserves dropped 32 percent to 1.78 million tons last month from a record 2.63 million tons in December, data from the Malaysian Palm Oil Board shows. Output in September gained 10 percent to 1.91 million tons. A new ruling that limits expansion by plantation companies will probably hamper Indonesian government’s target to produce 40 million tons by 2020, Joefly J. Bahroeny, chairman of the Indonesian Palm Oil Association, said today.

Soybeans for delivery in January gained 0.5 percent to $13.04 a bushel on the Chicago Board of Trade, the highest level in two weeks, while soybean oil for December increased 0.3 percent to 41.66 cents a pound.

Refined palm oil for May delivery climbed 1.2 percent to end at 6,178 yuan ($1,015) a ton on theDalian Commodity Exchange and soybean oil advanced 0.6 percent to close at 7,216 yuan.

Tuesday, 22 October 2013

STI Broke 3200 resistance!!!

Our STI index finally close above 3200 after numerous failed attempts. likely the rally shall continue and the STI would head for the 200 days MA at around 3238..and then perhaps attempt a new high for this year.

Indoagri closed at 0.88 today! 10% higher then last week!
Wilmar 3.44!!!
Olam 1.565...up 10 cts in 2 days....!

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