油脂油料产业日报-20250812

Report Information - Report Title: Oilseeds and Oils Industry Daily Report - Report Date: August 11, 2025 - Author: Xu Liang (Z0002220) - Reviewer: Tang Yun (Z0002422) Industry Investment Rating - No industry investment rating is provided in the report. Core Views Fats and Oils - Palm Oil: Internationally, Malaysian BMD crude palm oil futures are oscillating around 4,250 ringgit, awaiting the MPOB report on Monday and August export data. If it effectively holds above 4,250 ringgit and export data is positive, there's an upward trend; otherwise, it may decline to around 4,000 ringgit in the long - term. Domestically, Dalian palm oil futures are oscillating between 8,900 - 9,000 yuan, waiting for Malaysian palm oil trends. If it gets support, it may stabilize; otherwise, it could fall to 8,500 - 8,600 yuan. If Malaysian palm oil holds above 4,250 ringgit and export data is positive, Dalian palm oil may rise [3]. - Soybean Oil: Last weekend, the total domestic factory soybean oil inventory increased by 13,000 tons. According to historical data, inventory is nearing its peak and will soon decrease due to increased demand. Spot basis quotes will fluctuate narrowly in the short - term and are expected to rise in the long - term [4]. Oilseeds - Soybean Meal: Spot prices from oil mills are mostly stable, while traders' quotes fluctuated. Domestic soybean meal inventory has been declining, reaching 1.04 million tons in Week 32, a decrease of 31,000 tons from the previous week, a 2.87% drop. In the short - term, near - month contracts are restricted by supply pressure, with prices ranging from 2,900 - 3,150 yuan/ton [16]. Data Summaries Fats and Oils - Inter - month and Inter - variety Spreads: Various spreads such as P 1 - 5, Y - P 01 are provided, with price changes detailed in the table [5]. - Palm Oil Spot and Futures Prices: Palm oil futures prices for different contracts (01, 05, 09) have different price levels and percentage changes. BMD palm oil and Guangzhou 24 - degree palm oil prices are also given, along with relevant basis and spreads [7]. - Soybean Oil Spot and Futures Prices: Soybean oil futures prices for different contracts (01, 05, 09) and CBOT soybean oil prices are provided, along with Shandong first - grade soybean oil spot price and basis [13]. Oilseeds - Oilseed Futures Prices: Futures prices of soybean meal (01, 05, 09), rapeseed meal (01, 05, 09), CBOT soybeans, and the offshore RMB exchange rate are presented, along with their price changes and percentage changes [17]. - Soybean Meal and Rapeseed Meal Spreads: Inter - month spreads of soybean meal and rapeseed meal, as well as spot and futures spreads between soybean meal and rapeseed meal, are given [18][20].