油脂油料产业日报-20250910

Core Views - Malaysian BMD crude palm oil futures tumbled due to increased inventory to 220 million tons in the MPOB report and a surprise drop in the first 10-day export data, with short-term support at 4,400 ringgit and potential further decline if it breaks [3]. - Dalian palm oil futures declined following the drop in Malaysian palm oil, with short-term support at 9,200 yuan and strong support at 9,000 yuan, and it's in a 4-wave adjustment [3]. - The MPOB monthly report showed consecutive increases in Malaysian palm oil inventory and reduced exports in early September, and the approaching US soybean harvest and expected high yield pressured the CBOT soybean market and domestic soybean oil. The short-term support for the Dalian soybean oil 1-month contract is 8,200 yuan, and there's a chance of a rebound after the decline [4]. - The soybean meal market lacks clear themes, with the main contract oscillating between 3,030 - 3,080 yuan, and the spot price ranging from 2,950 - 3,200 yuan [15]. Oil Price Information Palm Oil | Name | Unit | Latest Price | Change | | --- | --- | --- | --- | | Palm Oil 01 | Yuan/ton | 9,244 | -2.55% | | Palm Oil 05 | Yuan/ton | 9,040 | -2.44% | | Palm Oil 09 | Yuan/ton | 9,446 | -0.36% | | BMD Palm Oil Main | Ringgit/ton | 4,416 | -1.41% | | Guangzhou 24-Degree Palm Oil | Yuan/ton | 9,270 | -130 | | Guangzhou 24-Degree Basis | Yuan/ton | -86 | 20 | | POGO | US dollars/ton | 497.126 | -1.168 | | International毛豆 - Crude Palm | US dollars/ton | -46.35 | 0 | [6] Soybean Oil | Name | Unit | Latest Price | Change | | --- | --- | --- | --- | | Soybean Oil 01 | Yuan/ton | 8,256 | -0.29% | | Soybean Oil 05 | Yuan/ton | 7,964 | -0.07% | | Soybean Oil 09 | Yuan/ton | 8,262 | 0% | | CBOT Soybean Oil Main | US cents/pound | 50.39 | -1.96% | | Shandong First-Grade Soybean Oil Spot | Yuan/ton | 8,420 | -100 | | Shandong First-Grade Soybean Oil Basis | Yuan/ton | 112 | 28 | | BOHO (Weekly) | US dollars/barrel | 50.752 | -12.7168 | | Domestic First-Grade Soybean Oil - 24-Degree Palm Oil | Yuan/ton | -690 | -20 | [11] Oil Spread Information Month-to-Month and Variety Spreads | Spread | Unit | Price | Change | | --- | --- | --- | --- | | P 1 - 5 | Yuan/ton | 220 | 8 | | P 5 - 9 | Yuan/ton | -214 | -148 | | P 9 - 1 | Yuan/ton | -6 | 140 | | Y 1 - 5 | Yuan/ton | 296 | 4 | | Y 5 - 9 | Yuan/ton | -342 | -46 | | Y 9 - 1 | Yuan/ton | 46 | 42 | | Y - P 01 | Yuan/ton | -1,078 | -28 | | Y - P 05 | Yuan/ton | -1,154 | -24 | | Y - P 09 | Yuan/ton | -1,026 | -126 | | Y/M 01 | - | 2.7343 | 0.1% | | Y/M 05 | - | 2.8971 | 0.17% | | Y/M 09 | - | 2.7892 | 0.11% | | OI 1 - 5 | Yuan/ton | 324 | 9 | | OI 5 - 9 | Yuan/ton | -453 | -43 | | OI 9 - 1 | Yuan/ton | 129 | 34 | | OI/RM 01 | - | 3.8631 | -0.15% | | OI/RM 05 | - | 3.9564 | -0.34% | | OI/RM 09 | - | 3.9137 | 1.76% | [5] Oilseed Futures Price | Name | Closing Price | Change | Change Rate | | --- | --- | --- | --- | | Soybean Meal 01 | 3,066 | -9 | -0.29% | | Soybean Meal 05 | 2,798 | -2 | -0.07% | | Soybean Meal 09 | 3,031 | 0 | 0% | | Rapeseed Meal 01 | 2,533 | -17 | -0.67% | | Rapeseed Meal 05 | 2,405 | -3 | -0.12% | | Rapeseed Meal 09 | 2,565 | 15 | 0.59% | | CBOT Yellow Soybean | 1,030.5 | 0 | 0% | | Offshore RMB | 7.1215 | -0.0012 | -0.02% | [16] Meal Spread Information | Spread | Price | Change | Spread | Price | Change | | --- | --- | --- | --- | --- | --- | | M01 - 05 | 275 | 3 | RM01 - 05 | 142 | -2 | | M05 - 09 | -231 | -18 | RM05 - 09 | -142 | 42 | | M09 - 01 | -44 | 15 | RM09 - 01 | 0 | -40 | | Soybean Meal Rizhao Spot | 2,980 | -20 | Soybean Meal Rizhao Basis | -75 | 6 | | Rapeseed Meal Fujian Spot | 2,515 | 2 | Rapeseed Meal Fujian Basis | -35 | -6 | | Soybean - Rapeseed Meal Spot Spread | 485 | -2 | Soybean - Rapeseed Meal Futures Spread | 525 | -14 | [17][19]