中期供需格局无改善 棕榈油期货维持震荡运行

Group 1 - The domestic futures market for oilseeds and oils is mostly in the red, with palm oil futures experiencing fluctuations and a decline of approximately 2.16% [1] - Malaysia's palm oil exports for December 1-31 were reported at 1,240,587 tons, a decrease of 5.8% compared to the previous month [1] - The independent inspection agency AmSpec reported Malaysia's palm oil exports for the same period at 1,197,434 tons, down 5.2% from the previous month [1] Group 2 - The Southern Peninsula Palm Oil Millers Association (SPPOMA) indicated a decrease in Malaysia's palm oil yield by 7.39% and a production drop of 8.07% compared to the previous month [1] - Heng Tai Futures noted a global supply surplus with high production in Indonesia and Malaysia, increasing domestic port inventories, and a lack of demand support, leading to a mismatch in supply and demand that hinders price increases [1] - Guangzhou Futures pointed out that weak palm oil exports limit price increases, while domestic market replenishment needs and geopolitical conflicts in the U.S. may temporarily affect oilseed prices, maintaining a volatile market in the medium term [2]