油脂油料早报-20250911

Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - The net increase in US soybean export sales for the 2025/26 season from September 1 - 4 is expected to be between 40 - 160 million tons, with US soybean meal export sales expected to net increase by 5 - 90 million tons and US soybean oil export sales by 0 - 1.6 million tons [1] - Argentina's 2025/26 soybean planting area is expected to decrease by 4.3% to 17.6 million hectares due to farmers choosing to plant other crops [1] - Malaysia's August palm oil inventory reached a two - year high due to strong production, with inventory increasing by 4.18% to 2.2 million tons, production increasing by 2.35% to 1.86 million tons, and exports slightly decreasing by 0.29% to 1.32 million tons [1] - Malaysia's palm oil exports from September 1 - 10 decreased by 1.2% according to ITS and 8.4% according to AmSpec compared to the previous month [1] 3. Summaries by Relevant Catalogs Overnight Market Information - US soybean export sales for the 2025/26 season from September 1 - 4 are expected to net increase by 40 - 160 million tons, soybean meal by 5 - 90 million tons, and soybean oil by 0 - 1.6 million tons [1] - Argentina's 2025/26 soybean planting area is expected to decrease by 4.3% to 17.6 million hectares [1] - Malaysia's August palm oil inventory increased by 4.18% to 2.2 million tons, production increased by 2.35% to 1.86 million tons, exports decreased by 0.29% to 1.32 million tons, and domestic consumption increased by over 6% to 490,923 tons [1] - Malaysia's September 1 - 10 palm oil exports decreased by 1.2% according to ITS and 8.4% according to AmSpec [1] Spot Prices - Spot prices of various products such as soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from September 4 - 10, 2025 are presented in a table [2] Protein Meal Basis - No specific content provided [3] Fatty Oil Basis - No specific content provided [5] Fatty Oil Futures Spread - No specific content provided [7]