Market Overview - China's General Administration of Customs reported that in October, palm oil imports decreased by 11.7% year-on-year to 220,000 tons, while the cumulative imports from January to October fell by 15.3% to 1.96 million tons [1] - In contrast, soybean oil imports in October increased by 38.2% year-on-year to 20,000 tons, with a total of 290,000 tons imported from January to October, marking a 7.3% increase [1] - Canola oil and rapeseed oil imports in October dropped by 10.1% year-on-year to 140,000 tons, but the total imports from January to October rose by 18.7% to 1.74 million tons [1] Soybean Processing - The National Oilseed Processors Association (NOPA) reported that member companies crushed 227.647 million bushels of soybeans in October, a 15.1% increase from September's 197.863 million bushels and a 13.9% increase from October 2024's 199.943 million bushels [1] Palm Oil Exports - AmSpec reported that Malaysia's palm oil exports from November 1-15 were 702,692 tons, a decrease of 10% compared to the same period last month, and from November 1-20, exports were 828,680 tons, down 14.1% from the previous month [2] Oil Production Forecast - Russian Deputy Prime Minister Novak stated that Russia's oil production forecast for 2025 remains unchanged at 510 million tons, and the country does not plan to actively reduce oil production, adhering to the OPEC+ agreement [2] Market Trends - The biodiesel theme's support appears to be short-lived, with palm oil prices in Malaysia significantly retreating to around 4,150. Domestic palm oil and soybean oil also declined, indicating a return to industry-driven market logic [4]
Mhy20251120油脂晚评：豆棕同频大幅回调