Core Viewpoint - Palm oil futures have shown a downward trend, currently priced at 9522.00 yuan/ton, reflecting a decrease of 0.96% [1] Inventory and Export Data - As of August 22, 2025, the commercial inventory of palm oil in key regions of China stands at 582,100 tons, a decrease of 35,200 tons from the previous week, representing a reduction of 5.70% [2] - Year-on-year, the inventory has decreased by 15,800 tons from 597,900 tons, a decline of 2.65% [2] - Malaysian palm oil exports from August 1 to 25 have increased by 10.9% compared to the same period last month [2] - Amspec reported that Malaysia's palm oil exports during the same period reached 1,065,005 tons, up 16.4% from 914,924 tons in the previous month [2] Market Analysis - Copper Crown Jin Yuan Futures noted that macroeconomic sentiment regarding interest rate cuts has cooled, with attention on the U.S. July core PCE data, while the dollar index has recovered some losses [3] - The firm highlighted that Malaysian palm oil production has seen moderate growth, but export growth has slowed, potentially suppressing demand due to high prices [3] - Domestic soybean crushing rates are high, leading to increased soybean oil inventories, while both canola oil and palm oil inventories have declined [3] - Overall, the market is expected to experience limited driving forces, with palm oil likely to undergo short-term fluctuations [3] - Donghai Futures indicated that the palm oil production cycle is not characterized by significant supply-demand imbalances, and there are no immediate policy-driven consumption expectations, suggesting a potential for market consolidation [3]
供需矛盾并不突出 短期棕榈油盘面或震荡调整运行
Jin Tou Wang·2025-08-26 06:18