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Report Industry Investment Rating - The investment strategy for the industry is neutral [4] Core View - The prices of the three major oils fluctuated yesterday. Weak US export demand and policy uncertainties constrained price movements. Multiple key decisions on US biofuel policies are yet to be finalized, leading to the oil price fluctuations [3] Summary by Related Content Futures and Spot Market Conditions - Futures: Yesterday, the closing price of the palm oil 2509 contract was 8,190.00 yuan/ton, a change of +114 yuan or +1.41% from the previous day; the closing price of the soybean oil 2509 contract was 7,724.00 yuan/ton, a change of +12.00 yuan or +0.16%; the closing price of the rapeseed oil 2509 contract was 9,427.00 yuan/ton, a change of +24.00 yuan or +0.26% [1] - Spot: In the Guangdong region, the spot price of palm oil was 8,590.00 yuan/ton, a change of +60.00 yuan or +0.70%, with a spot basis of P09 + 400.00, a change of -54.00 yuan; in the Tianjin region, the spot price of first - grade soybean oil was 7,930.00 yuan/ton, a change of +10.00 yuan/ton or +0.13%, with a spot basis of Y09 + 206.00, a change of -2.00 yuan; in the Jiangsu region, the spot price of fourth - grade rapeseed oil was 9,610.00 yuan/ton, a change of +30.00 yuan or +0.31%, with a spot basis of OI09 + 183.00, a change of +6.00 yuan [1] Market News Aggregation - According to a report released by the US Department of Agriculture on May 27, as of May 25, the good - to - excellent rate of US corn was 68%, 5 percentage points lower than market expectations. The good - to - excellent rate of spring wheat was only 45%, far from the market - expected 71% [2] - Malaysia will increase the biodiesel blending ratio for ground - transportation vehicles from B10 to B20. Currently, Malaysia has a 10% mandatory biodiesel blending policy nationwide, while Labuan, Langkawi, and Sarawak (except Bintulu) have implemented the B20 standard. Similar pilot projects have been launched at multiple major ports [2] - Indonesia, the world's largest palm oil producer, has implemented a B40 mandatory blending program and is considering further increasing it to B50 [2] - The C&F price of Canadian canola (July shipment) is 613 US dollars/ton, up 7 US dollars/ton from the previous trading day; the C&F price of Canadian canola (August shipment) is 603 US dollars/ton, up 7 US dollars/ton. The C&F price of US Gulf soybeans (July shipment) is 455 US dollars/ton, down 3 US dollars/ton; the C&F price of US West Coast soybeans (July shipment) is 450 US dollars/ton, down 3 US dollars/ton; the C&F price of Brazilian soybeans (July shipment) is 438 US dollars/ton, down 5 US dollars/ton [2] - Import soybean premium quotes: The premium for the Gulf of Mexico (July shipment) is 210 cents/bushel, unchanged from the previous trading day; the premium for the US West Coast (July shipment) is 183 cents/bushel, unchanged; the premium for Brazilian ports (July shipment) is 145 cents/bushel, unchanged [2] - The C&F price of Argentine soybean oil (June shipment) is 1,042 US dollars/ton, unchanged from the previous trading day; the C&F price of Argentine soybean oil (August shipment) is 1,015 US dollars/ton, unchanged. The C&F quote for imported rapeseed oil: The C&F price of Canadian rapeseed oil (June shipment) is 1,050 US dollars/ton, unchanged; the C&F price of Canadian rapeseed oil (August shipment) is 1,030 US dollars/ton, unchanged [2]