粕类油脂丨日报：加访华团与海关等部门会谈，两国关注对方意向-20250910

Core View - Recently, there are hot topics in the domestic and international protein meal and oil futures markets, including soybean and rapeseed meal and oil, and palm oil [1] Soybean and Rapeseed Meal and Oil - On the evening of September 9th, Zhang Baofeng, a member of the Party Committee and Director of the General Office of the General Administration of Customs, met with Saskatchewan Premier Moe and Prime Minister's Parliamentary Secretary Blois to exchange views on deepening China - Canada customs inspection and quarantine cooperation [2] - Canadian Agriculture Minister Macdonald said on September 9th that Canada is discussing relaxing tariffs on Chinese electric vehicles; the rapeseed industry group reported producers' losses, and the federal government is considering China's requirements [2] - Safras & Mercado estimated that as of September 5th, 84.1% (144.54 million tons) of Brazil's 2024/25 soybeans were sold, lower than last year's 87.7% and the five - year average of 89.3%; 20.5% (37.06 million tons) of 2025/26 soybeans were pre - sold, lower than last year's 24.8% and the five - year average of 29.2%. Brazil's 2025/26 soybean planting area is expected to increase by 1.2% to 48.21 million hectares, with a record output of 180.92 million tons, a 5.3% increase from 2024/25. Brazil's 2026 soybean exports are expected to reach 108 million tons, and 2025 exports are raised by 1 million to 105 million tons; 2026 crushing is raised by 0.5 million to 59.5 million tons, and 2025 crushing is raised by 1 million to 58 million tons. Due to an 8% increase in total supply and a 3% increase in total demand in 2026, inventory will rise from 7.37 million tons to 17.39 million tons [2] - AgRural reported that as of September 4th, 0.02% of Brazil's 2025/26 soybeans were sown, compared to 0% last year. The first batch of soybeans in Brazil in September was sown two weeks earlier than last year [3] Palm Oil - On September 10th, MPOB reported that Malaysia's palm oil production in August was 1,855,008 tons, a 2.35% month - on - month increase; exports were 1,324,672 tons, a 0.29% month - on - month decrease; imports were 49,036 tons; and inventory was 2,202,534 tons, a 4.18% month - on - month increase. Net exports were lower than expected, and end - of - month inventory was higher than expected [4]