油脂油料早报-20250828

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - The export sales of US soybeans, soybean meal, and soybean oil are expected to increase, with different expected net increases in different fiscal years [1]. - Malaysia's palm oil exports from August 1 - 25, 2025, increased by 36.41% compared to the same period last month [1]. - The average estimated yield of Canadian rapeseed is 20.3 million tons, with a forecast range of 19 - 21.2 million tons [1]. - Australia's rapeseed yield this year is expected to be between 5.8 - 7.2 million tons [1]. 3. Summary by Related Catalogs Overnight Market Information - US Exports: Before the USDA's weekly export sales report (scheduled for 20:30 Beijing time on Thursday), a survey of industry analysts showed that as of the week ending August 21, US soybean export sales are expected to net increase by 25 - 105 tons, with a net decrease of 20 tons to a net increase of 5 tons in the 2024 - 2025 fiscal year and a net increase of 45 - 100 tons in the 2025 - 2026 fiscal year. US soybean meal export sales are expected to net increase by 12.5 - 45 tons, with 2.5 - 15 tons in the 2024 - 2025 fiscal year and 10 - 30 tons in the 2025 - 2026 fiscal year. US soybean oil export sales are expected to net increase by 0 - 1.4 tons, with 0 - 0.8 tons in the 2024 - 2025 fiscal year and 0 - 0.6 tons in the 2025 - 2026 fiscal year [1]. - Malaysia's Palm Oil Exports: According to SGS, Malaysia's palm oil product exports from August 1 - 25, 2025, were 933,437 tons, a 36.41% increase from 684,308 tons in the same period last month [1]. - Canadian Rapeseed Yield: Canada's Statistics Bureau plans to release the estimated yield of major farm crops as of the end of July 2025 at 20:30 Beijing time on Thursday. Based on the forecasts of 6 traders and analysts, the average estimated yield of rapeseed is 20.3 million tons, with a range of 19 - 21.2 million tons, compared to 19.5 million tons reported by the Statistics Bureau in August last year [1]. - Australian Rapeseed Yield: Australia's ABARES estimates that the country's rapeseed yield this year will be between 5.8 - 7.2 million tons, compared to 6.1 million tons last year and a 10 - year average of 4.8 million tons [1]. Spot Prices - 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 August 21 - 27, 2025, are provided [1].