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The crude oil market's rebound boosts the oilseed market
CBOT soybean oil market rebounded yesterday after falling, boosted by the rebound in the crude oil market. Yesterday, Malaysia palm oil market also rebounded after falling, following the rise in crude oil and other vegetable oil prices. The overall domestic oilseed supply is ample, with palm oil inventories at high levels, and the fundamentals of palm oil supply and demand in the overseas market are relatively weak, weakening the domestic palm oil bullish outlook. The increase in imported soybeans arriving at ports has improved the operating rate of oil mills, and the demand for stockpiling during the May Day holiday is expected to ease the pressure of rising inventories. The Middle East situation remains complex and volatile, and market sentiment has not stabilized, making the oilseed market prone to fluctuations. (Feed Industry Information Network)