Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The U.S. soybean inventory in the quarter ending June 1, 2025, was higher than expected, while the planting area was lower than expected, and the good-to-excellent rate was also lower than expected [1]. - Malaysia's palm oil exports showed varying degrees of increase in June 2025 according to different institutions' data [1]. - Indonesia raised the reference price of crude palm oil in July, but the export tax remained unchanged [1]. 3. Summary by Relevant Catalogs Overnight Market Information - U.S. 2025 Q2 soybean inventory was 1.007664 billion bushels, higher than the estimated 0.98 billion bushels. Farm - in inventory was 0.4117 billion bushels, and farm - out inventory was 0.595964 billion bushels [1]. - The estimated U.S. 2025 soybean planting area was 83.38 million acres, lower than the market estimate of 83.655 million acres, and the 2024 actual planting area was 87.05 million acres [1]. - As of the week ending June 29, 2025, the U.S. soybean good - to - excellent rate was 66%, lower than the expected 67%. The emergence rate was 94%, the flowering rate was 17%, and the pod - setting rate was 3% [1]. - A private exporter reported selling 204,000 tons of soybean meal to an unknown destination for the 2025/2026 market year [1]. - As of the week ending June 26, 2025, the U.S. soybean export inspection volume was 224,787 tons, in line with expectations. The cumulative export inspection volume this crop year was 45.851787 million tons, compared with 41.554272 million tons in the same period last year [1]. - The estimated U.S. May 2025 soybean crushing volume was 204.7 million bushels, 1.1% higher than April and 6.8% higher than May 2024. The estimated May 31 soybean oil inventory was 1.871 billion pounds, down 5.3% from the end of April and 14.5% from May 2024 [1]. - AmSpec reported that Malaysia's June 2025 palm oil exports increased 4.3% month - on - month; ITS reported a 4.7% increase; SGS reported an 11.74% increase [1]. - Indonesia raised the July reference price of crude palm oil to $877.89 per ton from $856.38 in June, with the export tax remaining at $52 per ton [1]. Imported Soybean Futures Crushing Profit No detailed information provided [2]. Futures Price Spreads of Oils and Fats No detailed information provided [5]. Spot Prices - The table shows the spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from June 24 - 30, 2025 [3]. Basis of Protein Meal and Oils and Fats No detailed information provided [3][7].
油脂油料早报-20250701
Yong An Qi Huo·2025-07-01 04:41