油脂油料早报-20250825

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - AgResource forecasts Brazil's 2025/26 soybean production to reach 176.5 million tons, a 3% increase from the previous year, with a 2% growth in planting area to 48.7 million hectares [1]. - MPOA data shows that Malaysia's crude palm oil production from August 1 - 20 increased by 3.03% compared to the same period last month, with varying growth rates in different regions [1]. - The US EPA approved 63, rejected 28, and partially approved 77 applications from small refineries for biofuel exemptions, with a total exemption quota of about 5.34 billion RINS, and only 13 pending applications remain [1]. 3) Summary by Related Catalogs Overnight Market Information - Brazil's 2025/26 soybean production is expected to increase, and planting usually starts around September [1]. - Malaysia's palm oil production in early - August increased compared to the previous month [1]. - The US EPA dealt with small refinery biofuel exemption applications, and will soon collect public opinions on large refineries' compensation for exemption quotas [1]. Spot Prices - Spot prices of various products such as soybean meal, rapeseed meal, soybean oil, palm oil, and rapeseed oil from August 18 - 22 are presented, showing price fluctuations during this period [1].