Core Viewpoint - The domestic oilseed market is experiencing mixed performance, with canola oil futures showing a notable increase while the overall supply remains stable and the market is influenced by various factors including international relations and domestic consumption policies [1] Market Performance - On August 12, canola oil futures opened at 9609.00 CNY/ton, reaching a high of 9817.00 CNY and a low of 9596.00 CNY, with an increase of approximately 2.36% [1] - The average price of imported three-grade canola oil was reported at 9813 CNY/ton, reflecting a 0.51% increase from the previous day [1] Inventory and Supply - As of August 8, the total commercial inventory of the three major oils was 2.39 million tons, with a week-on-week increase of 30,000 tons, a month-on-month increase of 110,000 tons, and a year-on-year increase of 230,000 tons [1] - Canola oil inventory stood at 660,000 tons, remaining stable week-on-week, decreasing by 30,000 tons month-on-month, and increasing by 170,000 tons year-on-year [1] Import Prices - On August 11, the C&F price for imported canola oil from Canada was reported at 1035 USD/ton for September shipment and 1015 USD/ton for November shipment, both remaining unchanged from the previous trading day [1] Market Outlook - According to Da Yue Futures, oilseed prices are expected to stabilize due to a relaxed domestic fundamental environment and stable oilseed supply, with a forecast for higher South American production in the 2024/25 USDA report [1] - Ruida Futures noted that the current season is a low-demand period for oilseeds, with a relatively loose supply of vegetable oils and ongoing high inventory pressure for canola oil, which may continue to restrain market prices [1] - The market is currently balancing between short-term supply looseness and uncertainties regarding future shipments, with canola oil prices showing strength due to palm oil price increases [1]
菜籽油产出压力明显减弱 短线以偏多参与为主
Jin Tou Wang·2025-08-12 06:04