油脂油料早报-20250702

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - The report provides overnight market information on the oil and oilseed industry, including data on soybean crushing, exports, and palm oil production and exports [1]. 3) Summary by Related Catalogs Overnight Market Information - USDA reported that the U.S. soybean crush in May 2025 was 6.11 million short tons (203.7 million bushels), and the corn consumption for fuel ethanol production was 449.4 million bushels, lower than the same period last year. The U.S. corn distillers dried grains with solubles (DDGS) production in May was 1.776 million tons, lower than last year's 2.003 million tons [1]. - Anec estimated that Brazil's soybean exports in June 2025 could reach 13.93 million tons, higher than the previous estimate, while the soybean meal exports could be 1.67 million tons, lower than the previous estimate [1]. - StoneX raised its production estimates for Brazil's 2024/25 soybean and corn crops. The soybean production is expected to reach 168.75 million tons, slightly higher than the previous estimate [1]. - SPPOMA data showed that Malaysia's palm oil production in June 2025 decreased by 0.65% month - on - month, with a decline in the fresh fruit bunch yield and oil extraction rate [1]. - Indonesia's May 2025 exports of crude and refined palm oil soared 53% year - on - year to 1.88 million tons, and the export value increased by nearly 71% to $1.85 billion. The first five months' exports were 8.3 million tons, higher than the same period last year [1]. Spot Prices - Spot prices of various oil and oilseed products such as soybean meal, rapeseed meal, soybean oil, palm oil, and rapeseed oil in different regions from June 25 to July 1, 2025 are presented [2]. Protein Meal Basis - Information on protein meal basis is mentioned, but no specific content is provided [3]. Oil Basis - Information on oil basis is mentioned, but no specific content is provided [6]. Oil and Oilseed Futures Spread - Information on oil and oilseed futures spread is mentioned, but no specific content is provided [8]