Report Title - 【国富豆系研究周报】产区天气暂时无忧，CBOT大豆涨幅受限 [1] Core View - The weather in the production areas is temporarily worry - free, and the increase of CBOT soybeans is limited [1] Summary by Directory I. Market Review - The review includes soybeans, soybean meal, and soybean oil [4] II. Production Area Weather - Focuses on the weather in the US soybean production areas [4] III. International Supply and Demand - Covers the supply and demand of US, Brazilian, and Argentine soybeans [4] IV. Domestic Supply and Demand - Analyzes the supply and demand of soybean oil and soybean meal [4] V. Domestic and International Oil Futures and Spot Prices, and Spread Situations - Includes basis, monthly spread, variety spread situations, FOB quotes, and CFTC position situations [4]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The report presents a comprehensive overview of the futures market, including overnight and spot prices, important fundamental information, and macro - economic news. It also covers international and domestic supply - demand situations for various agricultural products [1][2][4]. 3. Summary by Directory 01 Overnight Market - Overnight prices and changes of various futures are presented, such as the closing price of BMD's October Malaysian palm oil at 4316.00 with a previous day's increase of 2.47%. Brent's September contract dropped 0.60% previously and 1.69% overnight [1]. - Currency exchange rates and their changes are also shown, like the US dollar index at 98.44 with a 0.20% decline [1]. 02 Spot Market - Spot prices, basis, and basis changes of DCE's palm oil, soybean oil, and soybean meal futures in different regions are provided. For example, the spot price of DCE's 2509 palm oil in North China is 9000 with a basis of 100 and no change [2]. - Import soybean quotes include CNF premiums and CNF prices for different origins, such as Brazil's CNF premium of 260 cents per bushel and a CNF price of 473 dollars per ton [3]. 03 Important Fundamental Information -产区天气 - - US soybean - producing states are expected to have above - average temperatures and near - to above - normal precipitation from July 23 - 27. The Midwest will have an active rainfall system and rising temperatures, which is generally favorable for crops but may bring high - temperature stress to some areas [4][6]. - International Supply - Demand - - Malaysia's palm oil exports from July 1 - 20 decreased 3.5% compared to the same period last month. The KPK is discussing land conversion from rubber to palm oil for smallholders to obtain MSPO certification [8][9]. - If Indonesia implements the B50 biodiesel blending policy, domestic palm oil consumption may surge by about 3 million tons [10]. - Nigeria plans to stabilize global crude palm oil prices and has increased production to 1.5 million tons [11]. - Argentina's 2024/25 soybean planting area is estimated to increase, and the production is expected to reach 50.9 million tons [12]. - Canadian rapeseed exports increased, and the commercial inventory is 1.2049 million tons as of July 13 [13]. - Germany's 2025 winter rapeseed production for vegetable oil and biodiesel is expected to increase by 7.1% [14]. - The Baltic Dry Index rose, with different types of ships having different price and profit changes [14]. - Domestic Supply - Demand - - On July 18, the total trading volume of soybean oil and palm oil increased by 13% compared to the previous day. The trading volume of soybean meal decreased [15]. - China's palm oil imports in June increased year - on - year, while soybean oil imports decreased. Rapeseed and mustard oil imports increased [15]. - The actual soybean crushing volume of domestic oil mills in the 29th week was 2.3055 million tons, with an operating rate of 64.81% [15]. 04 Macro News - International News - - The preliminary value of the US Michigan Consumer Confidence Index in July was 61.8, higher than expected. US new - home starts and building permits in June also showed positive changes [18]. - The eurozone's May seasonally - adjusted current account surplus was 32.307 billion euros [18]. - Domestic News - - On July 18, the US dollar/Chinese yuan exchange rate was adjusted upward. The central bank conducted reverse - repurchase operations, achieving a net investment of 10.28 billion yuan on that day and 120.11 billion yuan for the week [20]. 05 Capital Flow - On July 18, 2025, the futures market had a net capital inflow of 2.96 billion yuan, with a 2.187 billion yuan inflow in commodity futures and a 773 million yuan inflow in stock - index futures [23]. 06 Arbitrage Tracking No relevant content provided.

Report Industry Investment Rating No relevant content provided. Core Viewpoints The report mainly presents the overnight and spot market conditions of various commodities, important fundamental information including weather, international and domestic supply - demand, macro news, fund flows, and mentions the expected significant increase in global palm oil prices by the end of 2025 due to supply - demand factors [9]. Summary by Directory 01 Overnight行情 - The closing prices, previous day's and overnight percentage changes of various futures such as Malaysian palm oil, Brent crude oil, US crude oil, US soybeans, etc. are provided. Also, the latest prices, percentage changes, and ten - day percentage changes of major currencies are given [1]. 02 Spot行情 - Spot prices, basis, and basis daily changes of DCE palm oil, DCE豆油, and DCE豆粕 in different regions are presented. CNF quotes and CNF升贴水 of imported soybeans from different origins are also shown [2]. 03 Important Fundamental Information -产区天气 - - The future weather outlook (July 22 - 26) of US soybean - producing states shows that most areas will have rainfall and temperatures close to or higher than normal. The Midwest has good soil moisture, with corn and soybeans entering the pollination period, but some areas like northern Indiana need attention [3][5]. -国际供需 - - Malaysia's August crude palm oil reference price is raised, increasing the export tax from 8.5% to 9%. Indonesia has various palm - related policies and production situations. Global palm oil prices are expected to rise by 33% by the end of 2025. The US soybean and related product export sales and production forecasts of different countries are also reported [7][9]. -国内供需 - - On July 17, the trading volume of domestic oils and meals changed. The national sow inventory decreased, and the agricultural department will take measures to stabilize pig production. The agricultural product wholesale price index increased slightly [15]. 04 Macro要闻 -国际要闻 - - The probabilities of the Fed's interest - rate decisions in July and September are given. US economic data such as initial jobless claims, manufacturing index, etc., and Eurozone CPI data are presented [18]. -国内要闻 - - On July 17, the US dollar/renminbi exchange rate decreased (renminbi appreciated), and the central bank conducted reverse repurchase operations with a net investment of 3605 billion yuan [19]. 05资金流向 - On July 17, 2025, the futures market had a net capital inflow of 135.16 billion yuan, including 63.7 billion yuan in commodity futures and 71.46 billion yuan in stock index futures. The capital inflows of different types of commodity futures are also detailed [22]. 06套利跟踪 No relevant content provided.

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints The report presents a comprehensive overview of the commodity market, including overnight and spot market conditions, weather forecasts, international supply - demand situations, domestic market trading data, macro - economic news, and capital flows. It shows the complex interactions among different factors such as weather, policy, and economic indicators that influence the commodity market [1][2][9][14][16]. 3. Summary by Directory Overnight Market - Overnight prices and price changes of various commodities are presented, including palm oil, crude oil, soybeans, and related products. Also, currency exchange rates and their changes are provided [1]. Spot Market - Spot prices, basis, and basis changes of palm oil, soybean oil, and soybean meal in different regions are shown [2]. - Import soybean CNF quotes and CNF premiums in different regions are presented [4]. Weather Forecast - US soybean - producing states' weather from July 21 - 25 will have rainfall and temperatures close to or higher than normal. Most areas in the US Midwest have favorable weather with good soil moisture, which is beneficial for corn and soybean pollination [5][7]. International Supply - Demand - Malaysia's palm oil production increased by 17.06% from July 1 - 15, 2025, while exports decreased by 22.18% compared to the same period last month [9]. - AI is being used to transform the palm oil industry in Malaysia, improving oil extraction rates, increasing uptime, and reducing labor dependence [10]. - India plans to increase domestic palm oil production to 230 million tons by 2029 [10]. - A private exporter reported a 120,000 - ton soybean export sale to an unknown destination for the 2025/2026 delivery [10]. - Forecasts for US soybean, soybean meal, and soybean oil export sales are provided [11]. - Argentina's soybean sales and export registration data are presented [12]. - Ukraine imposes a 10% export tariff on rapeseed and soybeans, and its rapeseed production forecast for 2025/2026 is given [12][13]. - The Baltic Dry Bulk Freight Index reached a one - month high [13]. Domestic Market Trading - On July 16, the total trading volume of soybean oil and palm oil increased, while the trading volume of soybean meal decreased. The oil mill operating rate increased [14]. - Agricultural product wholesale price indices and prices of pork and eggs are reported [14]. Macro - Economic News - International news includes Fed interest rate probabilities, US industrial output, PPI, mortgage application, and strategic oil reserve data, as well as Indonesia's central bank interest rate cut [16][17]. - Domestic news includes the exchange rate of the US dollar against the RMB and China's central bank's reverse - repurchase operations [18]. Capital Flows - On July 16, 2025, the futures market had a net capital outflow of 14.421 billion yuan, with details on different types of futures [22]. Arbitrage Tracking No relevant content provided.

1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints of the Report The report presents a comprehensive overview of the futures market, including overnight and spot market conditions, important fundamental information, macro - news, fund flows, etc. It shows the price movements of various commodities such as palm oil, soybeans, and crude oil, and analyzes the impact of factors like weather, export data, and macro - economic indicators on the market [1][5][17]. 3. Summary by Relevant Catalogs Overnight Market Conditions - The closing prices and daily/overnight price changes of various futures contracts are presented, including Malaysian palm oil, Brent crude oil, US crude oil, US soybeans, etc. The price changes of major currency pairs are also provided [1]. Spot Market Conditions - The spot prices, basis, and basis changes of DCE palm oil, DCE soybean oil, and DCE soybean meal in different regions are given [2]. Important Fundamental Information - **Weather**: US soybean - producing states are expected to have higher - than - normal rainfall and higher temperatures from July 20 - 24. Some areas in the US Midwest have received rainfall, and the overall weather conditions are favorable for crops [5][7]. - **Palm Oil**: ITS and AmSpec data show a decline in Malaysian palm oil exports from July 1 - 15. However, UOB Kay Hian analysts believe that exports may increase in July, and production is expected to rise while inventory may remain stable [8][9]. - **Soybeans**: NOPA data shows that US soybean crushing in June was 185.709 million bushels. Anec predicts an increase in Brazil's soybean and soybean meal exports in July. The EU's imports of palm oil, soybeans, soybean meal, and rapeseed have decreased compared to last year [11][12]. - **Shipping**: The Baltic Dry Bulk Freight Index continued to rise, with freight rates for all types of ships increasing [13]. - **Trading Volume and Inventory**: On July 15, the total trading volume of soybean oil and palm oil decreased. The trading volume of soybean meal decreased, and the开机 rate of oil mills increased slightly. The port inventories of imported soybeans and soybean oil increased [14][15]. Macro - economic News - **International**: The probability of the Fed maintaining interest rates in July is 97.4%. US economic data such as CPI, NY Fed Manufacturing Index, etc., are released. OPEC maintains its global crude oil demand growth forecasts. The economic data of the Eurozone shows positive trends [17][18]. - **Domestic**: The RMB depreciated against the US dollar on July 15. The Chinese central bank conducted a net injection of 173.5 billion yuan. China's Q2 GDP growth rate was 5.2%, and other economic indicators such as retail sales and industrial added - value were also released [20]. Fund Flows - On July 15, the futures market had a net inflow of 11.281 billion yuan, with 4.329 billion yuan in commodity futures (including net outflows in agricultural futures and net inflows in chemical, black - series, and metal futures) and 6.952 billion yuan in stock index futures [23]. Arbitrage Tracking No relevant information provided.

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The report presents a comprehensive overview of the commodities and financial markets, including overnight and spot prices, important fundamental information, macro news, fund flows, and arbitrage tracking. It highlights significant changes in international and domestic supply - demand situations and macro - economic indicators [1][2][3] Summary by Directory 01 Overnight行情 - Overnight price and percentage change data are provided for various commodities such as palm oil, crude oil, soybeans, and their related products. Currency exchange rates and their percentage changes are also given, including the US dollar index and several other currencies against the US dollar [1] 02 Spot行情 - Spot prices, basis, and basis changes for DCE palm oil, DCE豆油, and DCE豆粕 in different regions are presented. CNF quotes and CNF升贴水 for imported soybeans from different origins are also included [2] 03 Important Fundamental Information -产区天气 - The future weather outlook (July 19 - 23) for US soybean - producing states shows higher - than - normal rainfall and higher temperatures. The Midwest has a complex weather pattern with intermittent showers and temperature fluctuations. Overall, most areas of corn and soybean crops are in good condition as they enter the pollination stage [3][5] -国际供需 - India's palm oil imports in June increased by 60% month - on - month to 955,683 tons, and total vegetable oil imports rose by 30.6%. The US soybean good - to - excellent rate as of July 13 was 70%, higher than expected. US soybean export inspection volume was lower than expected. Brazil's soybean exports in the first two weeks of July decreased slightly compared to the previous year. Canada's rapeseed has different growth conditions in different provinces. The Baltic Dry Index rose to a four - week high [7][8][9] -国内供需 - On July 14, the total trading volume of soybean oil and palm oil decreased. The trading volume of soybean meal increased, and the oil mill operating rate rose. China's soybean imports in June decreased slightly from May but increased year - on - year. Imported edible vegetable oil in June increased significantly both month - on - month and year - on - year. The commercial inventory of major oils increased. Agricultural product wholesale price indices declined slightly [11][12][13] 04 Macro要闻 -国际要闻 - The probability of the Fed keeping interest rates unchanged in July is 94.8%. A Fed official hopes to see further inflation decline before supporting a rate cut. High - end economists predict US core CPI inflation. Trump threatens to impose 100% secondary tariffs on Russia. The EU may impose counter - tariffs on US imports. Brazil denies requests related to US tariffs [15][16] -国内要闻 - On July 14, the US dollar/Chinese yuan exchange rate increased (yuan depreciation). The Chinese central bank conducted reverse repurchase operations, resulting in a net injection of funds. China's M2, M1, and social financing scale increased year - on - year. China's trade surplus in June increased, and Sino - US trade showed signs of recovery [18][19] 05资金流向 - On July 14, the futures market had a net capital outflow of 19.195 billion yuan. Commodity futures had a net inflow of 2.604 billion yuan, while stock index futures had a net outflow of 21.798 billion yuan. Different commodities had varying degrees of capital inflow or outflow [21][22] 06套利跟踪 - Not provided in the content

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report The report offers a comprehensive overview of the agricultural and energy markets, including overnight and spot market conditions, important fundamental information, macro - economic news, and capital flow data. It also presents forecasts for crop production and market trends based on various data sources such as USDA, SPPOMA, and NOPA [1][2][6]. 3. Summary According to the Table of Contents 3.1 Overnight Market Conditions - Overnight prices and price changes of various commodities are presented, including palm oil, crude oil, soybeans, and their related products. Currency exchange rates and their fluctuations are also provided [1]. - For example, the closing price of BMD palm oil 09 was 4175.00, with a previous day's increase of 0.68% and an overnight increase of 1% [1]. 3.2 Spot Market Conditions - Spot prices, basis, and basis changes of DCE palm oil, DCE soybean oil, and DCE soybean meal in different regions are given. CNF quotes and changes for imported soybeans are also included [2]. - For instance, the spot price of DCE palm oil 2509 in North China was 8850, with a basis of 150 and a basis change of - 30 compared to the previous day [2]. 3.3 Important Fundamental Information 3.3.1 Weather and Crop Conditions - The future weather outlook for US soybean - producing states from July 16 - 20 shows that rainfall in major soybean - producing states is higher than normal, and central temperatures are lower. The Midwest has suitable conditions for most crops, but some areas like northern Illinois and Indiana need rainfall [3][5]. 3.3.2 Crop Production and Export Forecasts - USDA predicts that the global palm oil production in 2025/26 will be 8073.6 million tons, with unchanged exports from Indonesia and Malaysia compared to last month. SPPOMA data shows that Malaysian palm oil production increased by 35.28% from July 1 - 10, 2025 [6]. - USDA also provides forecasts for US and global soybean production, ending stocks, and exports in different crop years. For example, the 2025/26 US soybean ending stocks are expected to be 3.1 billion bushels [8]. 3.3.3 Market News - Malaysian palm oil exports may increase this month due to buyers' rush to ship before the US tariff policy takes effect on August 1. CFTC position reports show changes in long and short positions for various agricultural products [7]. - USDA reports private exporters' sales of 21.99 million tons of soybeans to Mexico for 2025/2026 delivery. The US biofuel manufacturers' demand for soybean oil is expected to reach a record - high of 15.5 billion pounds in 2025/26, leading to a significant drop in exports [10]. - NOPA monthly report forecasts suggest a decline in soybean crushing in June 2025 compared to May but an increase compared to June 2024. Brazilian soybean planting area and production are expected to increase in the 2025/26 season [11]. 3.4 Macro - economic News 3.4.1 International News - The US Treasury's monthly budget report shows a significant increase in tariff revenue in June. Trump announced 30% tariffs on imports from Mexico, Brazil, and the EU starting from August 1. The IEA adjusted its forecasts for global oil supply and demand, and Russia plans to compensate for over - production in August - September [17]. - The EU Commission President extended the suspension of counter - measures against US tariffs until early August [18]. 3.4.2 Domestic News - On July 11, the US dollar/Chinese yuan exchange rate was adjusted downward (yuan appreciation). The Chinese central bank conducted 7 - day reverse repurchase operations, resulting in a net injection of 507 million yuan on that day and a net withdrawal of 22.65 billion yuan for the week [20]. 3.5 Capital Flow - On July 11, 2025, the futures market had a net capital inflow of 26.685 billion yuan, with 3.417 billion yuan flowing into commodity futures (including 373 million yuan into agricultural product futures, 680 million yuan into chemical futures, 361 million yuan into black - series futures, and 2.004 billion yuan into metal futures) and 23.267 billion yuan into stock index futures [24]. 3.6 Arbitrage Tracking No relevant content provided.

Report Title - The report is titled "Guofu Palm Oil Research Weekly Report: Palm Oil Prices Rise, Focus on Supply and Demand Changes in Producing Areas" [1] Report Date - The report is dated July 14, 2025 [1] Table of Contents 1. Market Review - Covers BMD Malaysian palm oil and DGE palm oil [4] 2. Producing Area Weather - Focuses on palm oil producing area weather [4] 3. International Supply and Demand - Includes the MPOB June report, Malaysian palm oil July forecast, and other important information [4] 4. Domestic Supply and Demand - Comprises import profit, palm oil transactions, and palm oil inventory [4] 5. Domestic and International Oil Futures and Spot Prices, Spread Situations - Involves basis, monthly spread, variety spread situations, palm oil warehouse receipt quantity and futures open interest, and FOR quotes [4] Key Data 1. AmSpec Malaysian Palm Oil Export Data (July 10, 2025) - Malaysia's total exports were 366,482 tons, a 11.95% increase from the previous month and a 30.70% decrease from the same period last year [23] - Exports of different types of palm oil showed various changes, e.g., crude palm oil exports decreased by 8.84% month - on - month and 43.96% year - on - year [23] 2. Another Set of Malaysian Palm Oil Export Data (July 10, 2025) - Malaysia's total exports were 391,355 tons, a 5.3% increase from the previous month and a 27.01% decrease from the same period last year [23] - Exports to different markets had different trends, such as a 30.38% increase to the EU and a 30.87% decrease to China compared to the previous month [23] 3. SGS Malaysian Palm Oil Export Forecast (July 1 - 10, 2025) - Malaysia's total exports were 205,225 tons, a 28.14% decrease from the previous month and a 63.64% decrease from the same period last year [24] - Exports to different markets also varied, e.g., a 73.83% increase to China and an 87.62% decrease to the US compared to the previous month [24] 4. SPPOMA Malaysian Palm Oil Production Forecast (July 1 - 10, 2025) - Production increased by 35.28% compared to the previous month, 17.24% compared to the same period last year, and 20.14% compared to another reference [24] - FFB yield increased by 35.43% compared to the previous month, 16.71% compared to the same period last year, and 20.78% compared to another reference [24] - Oil extraction rate increased by 0.02% compared to the previous month, decreased by 0.10% compared to the same period last year, and decreased by 0.12% compared to another reference [24]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints The report provides a comprehensive overview of the futures market, including overnight and spot market conditions, important fundamental information, macro news, and capital flow. It shows the performance of various commodities such as palm oil, soybeans, and their related products, as well as the impact of weather on soybean crops and international and domestic macro - economic factors on the market. 3. Summary by Directory 01 Overnight Market - Overnight closing prices and price changes of various futures contracts are presented, including palm oil, Brent crude, WTI crude, soybeans, soybean meal, and soybean oil. The US dollar index and exchange rates of multiple currencies are also provided [1]. 02 Spot Market - Spot prices, basis, and basis changes of DCE palm oil, DCE soybean oil, and DCE soybean meal in different regions are given [2]. - CNF premiums and quotes for imported soybeans from different origins are presented [3]. 03 Important Fundamental Information - **Weather and Crop Impact**: US soybean - producing states are expected to have above - normal rainfall and cooler temperatures in the future. The Midwest has continuous showers, which are generally beneficial for soybean growth [4][6]. - **International Supply and Demand**: BMI predicts that Malaysia's palm oil production will partially recover to 1.95 billion tons in 2025/26, while domestic consumption will decline. Indonesia transfers nearly 400,000 hectares of confiscated oil palm plantations. Analysts' forecasts for USDA reports on global and South American crop production, export sales, and EU rapeseed production are also provided [8][10][12]. - **Market Transactions**: On July 9, the total trading volume of soybean oil and palm oil increased, while the trading volume of soybean meal decreased. The opening rate of oil mills declined. Agricultural product prices showed some fluctuations [13]. 04 Macro News - **International News**: The probability of the Fed maintaining or cutting interest rates in July and September is estimated. Trump plans to impose a 50% tariff on Brazil. US economic data such as wholesale sales, mortgage application index, and EIA inventories are presented. Malaysia's central bank cuts interest rates [15]. - **Domestic News**: The US dollar/Chinese yuan exchange rate rises. The Chinese central bank conducts reverse repurchase operations with a net withdrawal of funds. China's June CPI and PPI data are released, and the expected GDP scale for this year is mentioned [17]. 05 Capital Flow On July 9, 2025, the futures market had a net capital outflow of 19.597 billion yuan, with details of capital flow in different sectors such as commodity and stock index futures [20]. 06 Arbitrage Tracking No relevant information provided.

1. Report Industry Investment Rating No information provided in the given content. 2. Core View of the Report The report provides a comprehensive overview of the futures and spot markets for agricultural and energy commodities, along with relevant fundamental information, macro - news, and capital flow data. It covers aspects such as price trends, supply - demand dynamics, and international and domestic economic indicators, which can help investors understand the market situation and potential investment opportunities [1][2][5]. 3. Summary by Relevant Catalogs 3.1 Overnight行情 - **Futures prices and changes**: The closing prices and daily/overnight price changes of various futures contracts are presented, including Malaysian palm oil, Brent crude, US crude oil, US soybeans, etc. For example, the closing price of Malaysian palm oil 09 (BMD) is 4063.00, with a previous day's increase of 0.20% and an overnight decrease of 0.17% [1]. - **Currency exchange rates and changes**: The latest exchange rates and their daily/ten - day changes are shown for multiple currencies against the US dollar, such as the US dollar index at 97.53 with a 0.57% increase [1]. 3.2 Spot行情 - **Futures and spot prices**: Spot prices, basis, and basis changes for DCE palm oil, DCE豆油, and DCE豆粕 in different regions are provided. For instance, the spot price of DCE palm oil 2509 in North China is 8680, with a basis of 220 and no change from the previous day [2]. 3.3 Important Fundamental Information 3.3.1产区天气 - **US soybean weather outlook**: The temperature and precipitation in the US soybean - producing states from July 12 - 16 are expected to be close to or higher than normal levels. Some states like Arkansas have higher - than - normal temperature and precipitation [5][6]. 3.3.2 International供需 - **Malaysian palm oil exports**: From July 1 - 5, Malaysian palm oil exports reached 213,055 tons, a 31.59% increase compared to the same period last month [9]. - **Indian palm oil policy**: An Indian minister called for an increase in palm oil import tariffs to 44% and a minimum guaranteed price of 25,000 rupees per ton to protect domestic farmers [9]. - **Palm - based SAF**: Up to 500 million tons of palm - based residues and biomass in Southeast Asia can be used for sustainable aviation fuel production [9]. - **US soybean conditions**: As of July 6, the US soybean good - excellent rate was 66%, the emergence rate was 96%, the flowering rate was 32%, and the pod - setting rate was 8% [10]. - **US soybean exports**: The US soybean export inspection volume for the week ending July 3 was 389,364 tons, meeting expectations [10]. - **Brazilian soybean exports**: In the first week of July, Brazil's soybean exports were 1,917,950.97 tons, a 2% decrease in the average daily export volume compared to July last year [11]. - **Argentine bean粕 exports**: Argentina will export 30,000 tons of bean粕 to China for the first time [11]. - **Indian soybean in EU**: India is making progress in complying with the EUDR for soybean exports, aiming to be a leader in non - GMO soybean exports [12]. - **EU GMO soybean approval**: The EU has approved the use of GMO soybeans in food and animal feed for 10 years [12]. - **Canadian油菜 conditions**: As of June 30, the good - excellent rates of油菜 in Saskatchewan and Alberta were 58.97% and 58.1% respectively [13]. - **Nepalese oil trade**: In the first 11 months of the current fiscal year, Nepal's import of crude soybean oil increased by 613.41%, and there was a significant export of refined soybean oil [13]. - **Freight index**: The Baltic Dry Bulk Freight Index remained unchanged, with different trends in different ship - type markets [14]. 3.3.3 Domestic供需 - **Oil product sales**: On July 7, the total sales of soybean oil and palm oil were 3350 tons, a 46% increase from the previous day. The sales of bean粕 were 8.45 tons, an increase of 2.11 tons [15]. - **Inventory levels**: As of July 4, the palm oil commercial inventory decreased by 0.43%, the soybean oil commercial inventory increased by 6.75%, and the rapeseed and rapeseed oil inventories decreased [15]. - **Agricultural product prices**: On July 7, the "Agricultural Product Wholesale Price 200 Index" and the "Vegetable Basket Product Wholesale Price Index" both increased, and the prices of some agricultural products such as pork and beef also changed [16]. 3.4 Macro要闻 3.4.1 International要闻 - **US economic indicators**: The US June global supply chain pressure index was 0, and the June Conference Board Employment Trend Index was 107.83 [18]. - **OPEC+ production**: OPEC+ is expected to approve a significant increase of about 550,000 barrels per day in September [18]. - **Eurozone indicators**: The Eurozone July Sentix Investor Confidence Index was 4.5, and the May retail sales month - on - month rate was - 0.7% [18]. 3.4.2 Domestic要闻 - **Exchange rate**: On July 7, the US dollar/Chinese yuan exchange rate was 7.1506, with a 29 - point decrease (yuan appreciation) [19]. - **Central bank operations**: On July 7, the Chinese central bank conducted 106.5 billion yuan of 7 - day reverse repurchase operations, resulting in a net withdrawal of 225 billion yuan [19]. - **Foreign exchange reserves**: China's June foreign exchange reserves were 3.317422 trillion US dollars, higher than expected [19]. 3.5资金流向 - **Futures market capital flow**: On July 7, the futures market had a net capital outflow of 27.355 billion yuan, including a net outflow of 4.978 billion yuan in commodity futures and 22.377 billion yuan in stock index futures [22]. 3.6套利跟踪 No information provided in the given content.