油脂油料早报-20250731

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The USDA will release a weekly export sales report at 20:30 Beijing time on Thursday. Analysts expect US soybean export sales to increase by 20 - 90 tons in the week ending July 24, with 10 - 30 tons for the 2024 - 25 season and 10 - 60 tons for the 2025 - 26 season [1]. - US soybean meal export sales are expected to increase by 20 - 55 tons, with 10 - 30 tons for the 2024 - 25 season and 10 - 25 tons for the 2025 - 26 season. US soybean oil export sales are expected to increase by 0 - 2.3 tons, with 0 - 1.5 tons for the 2024 - 25 season and 0 - 0.8 tons for the 2025 - 26 season [1]. - Datagro forecasts Brazil's 2025/26 soybean production to reach 182.9 million tons, up from 173.5 million tons in the previous year [1]. - India's reduction of import tariffs on Indonesian palm oil may boost imports above 5 million tons. India imported 4.8 million tons and 6 million tons from Indonesia in 2024 and 2023 respectively [1]. 3. Other Summaries Production and Supply - Brazil's 2025/26 soybean production is expected to increase to 182.9 million tons from 173.5 million tons in the previous year [1]. Trade and Policy - Analysts expect US soybean, soybean meal, and soybean oil export sales to increase in the week ending July 24 [1]. - India has reduced the basic import tariff on crude palm oil from 20% to 10%, which may increase imports from Indonesia above 5 million tons [1]. Price and Profit - The report provides the spot prices of soybean meal, rapeseed meal, soybean oil, palm oil, and rapeseed oil from July 24 to July 30, 2025 [1]. - Information on import soybean crushing profit, grease import profit, protein meal basis, grease basis, and grease - oilseed price spread is also mentioned, but no specific data is presented [1].