油脂油料产业日报-20250915

Report Overview - Report Title: Oilseeds and Oils Industry Daily Report - Date: September 15, 2025 - Author: Xu Liang - Reviewer: Tang Yun Industry Investment Rating No relevant information provided. Core Views Palm Oil - International Market: Malaysian BMD crude palm oil futures were closed due to a public holiday. With the expected recovery of growth after the gradual improvement of export data, there is a chance for the crude palm oil futures to gradually rebound and return to 4,500 ringgit. After stabilizing around 4,500 ringgit, there is an opportunity for the futures to start an upward trend, with a long - term bullish view [3]. - Domestic Market: Dalian palm oil futures are in a sideways trend. Affected by the closure of Malaysian palm oil futures, they will continue to trade in a range. After the Malaysian market resumes and the price exceeds 4,500 ringgit, Dalian palm oil futures may follow the upward trend. The view is that the near - term contracts are weaker than the far - term ones [3]. Soybean Oil - The resumption of Sino - US negotiations has no clear indication of China's potential purchase of US agricultural products, which supports Dalian soybean oil futures. However, the upcoming concentrated supply of US soybeans will pressure the global soybean market and have a negative impact on Dalian soybean oil. Domestically, the supply is sufficient while consumption is increasing. The January contract of Dalian soybean oil will continue to trade above 8,300 yuan, and there is a chance of an upward movement as international vegetable oil prices rise [4]. Bean Meal - Affected by the neutral - bearish US Department of Agriculture report and trade negotiations, market sentiment is under pressure, but the substantial negative impact is limited. The high premium of South American soybeans supports the import cost and limits the decline. In the short term, the main contract of Dalian bean meal will fluctuate between 3,030 - 3,080 yuan. The spot price will trade between 2,950 - 3,200 yuan/ton [17]. Price Summary Oil Price | Product | Unit | Price | Today's Change | Today's Change Rate | | --- | --- | --- | --- | --- | | P 1 - 5 | Yuan/ton | 234 | 18 | - | | Y - P 01 | Yuan/ton | - 974 | 20 | - | | P 5 - 9 | Yuan/ton | - 322 | 10 | - | | Y - P 05 | Yuan/ton | - 1044 | 44 | - | | P 9 - 1 | Yuan/ton | 88 | - 28 | - | | Y - P 09 | Yuan/ton | - 986 | 192 | - | | Y 1 - 5 | Yuan/ton | 304 | 0 | - | | Y/M 01 | - | 2.7028 | 0% | - | | Y 5 - 9 | Yuan/ton | - 380 | 0 | - | | Y/M 05 | - | 2.8433 | 0% | - | | Y 9 - 1 | Yuan/ton | 76 | 0 | - | | Y/M 09 | - | 2.778 | 0% | - | | OI 1 - 5 | Yuan/ton | 361 | 15 | - | | OI/RM 01 | - | 3.8945 | 1.05% | - | | OI 5 - 9 | Yuan/ton | - 527 | - 51 | - | | OI/RM 05 | - | 3.9468 | 0% | - | | OI 9 - 1 | Yuan/ton | 166 | 36 | - | | OI/RM 09 | - | 3.9152 | - 0.39% | - | Palm Oil Price | Product | Unit | Latest Price | Today's Change (Rate) | | --- | --- | --- | --- | | P 1 - 5 | Yuan/ton | 234 | 18 | | P 5 - 9 | Yuan/ton | - 322 | 10 | | P 9 - 1 | Yuan/ton | 88 | - 28 | | Palm Oil 01 | Yuan/ton | 9422 | 1.36% | | Palm Oil 05 | Yuan/ton | 9174 | 1.24% | | Palm Oil 09 | Yuan/ton | 8866 | - 5.52% | | BMD Palm Oil Main | Ringgit/ton | 4445 | - 0.2% | | Guangzhou 24 - degree Palm Oil | Yuan/ton | 9300 | 40 | | Guangzhou 24 - degree Basis | Yuan/ton | - 36 | 134 | | POGO | US dollars/ton | 494.425 | - 1.168 | | International毛豆 - 毛棕 | US dollars/ton | - 12.4 | 9.7 | Soybean Oil Price | Product | Unit | Latest Price | Today's Change (Rate) | | --- | --- | --- | --- | | Y 1 - 5 | Yuan/ton | 304 | 0 | | Y 5 - 9 | Yuan/ton | - 380 | 0 | | Y 9 - 1 | Yuan/ton | 76 | 0 | | Soybean Oil 01 | Yuan/ton | 8376 | - 1.2% | | Soybean Oil 05 | Yuan/ton | 8076 | - 0.57% | | Soybean Oil 09 | Yuan/ton | 8026 | - 3.44% | | CBOT Soybean Oil Main | Cents/pound | 52.12 | 0.99% | | Shandong First - grade Soybean Oil Spot | Yuan/ton | 8460 | 0 | | Shandong First - grade Soybean Oil Basis | Yuan/ton | 138 | 84 | | BOHO (Weekly) | US dollars/barrel | 52.14 | - 11.3288 | | Domestic First - grade Soybean Oil - 24 - degree Palm Oil | Yuan/ton | - 610 | - 30 | Oilseed Futures Price | Product | Closing Price | Today's Change | Change Rate | | --- | --- | --- | --- | | Bean Meal 01 | 3042 | - 37 | - 1.2% | | Bean Meal 05 | 2804 | - 16 | - 0.57% | | Bean Meal 09 | 2919 | - 104 | - 3.44% | | Rapeseed Meal 01 | 2504 | - 27 | - 1.07% | | Rapeseed Meal 05 | 2393 | - 13 | - 0.54% | | Rapeseed Meal 09 | 2462 | - 98 | - 3.83% | | CBOT Yellow Soybean | 1045.25 | 0 | 0% | | Offshore RMB | 7.12 | - 0.0021 | - 0.03% | Bean and Rapeseed Meal Spread | Spread | Price | Today's Change | Spread | Price | Today's Change | | --- | --- | --- | --- | --- | --- | | M01 - 05 | 259 | 0 | RM01 - 05 | 125 | - 22 | | M05 - 09 | - 203 | 19 | RM05 - 09 | - 154 | - 24 | | M09 - 01 | - 56 | 1 | RM09 - 01 | 29 | 46 | | Bean Meal Rizhao Spot | 3000 | 0 | Bean Meal Rizhao Basis | - 79 | 29 | | Rapeseed Meal Fujian Spot | 2515 | 0 | Rapeseed Meal Fujian Basis | - 16 | 36 | | Bean and Rapeseed Meal Spot Spread | 485 | 20 | Bean and Rapeseed Meal Futures Spread | 548 | 0 |