Report Overview - Report Date: September 16, 2025 [1] - Report Cycle: Daily - Research Variety: Henghao's soybean oil futures [1] 1. Investment Rating - No investment rating is provided in the report. 2. Core View - The soybean oil futures closed higher with a slight inflow of funds, indicating a slightly improved market sentiment. Despite significant inventory pressure at domestic ports and uncertainties in the US biodiesel policy, the high spot premium and the staged improvement in Malaysia's palm oil export data provide support. In the short term, with a mix of bullish and bearish factors and no clear single - sided driver, the futures price is expected to remain in a volatile pattern. Future focus should be on the final decision of the US EPA's biofuel policy, the progress of China - US trade negotiations, and the actual performance of pre - festival stocking demand in China [10]. 3. Summary by Directory 3.1 Futures Market 3.1.1 Contract Market - On September 16, 2025, the soybean oil futures market showed an overall volatile upward trend. The main contract y2601 closed at 8,418 yuan/ton, up 62 yuan/ton or 0.74% from the previous trading day. The trading volume was 297,565 lots, and the open interest was 597,730 lots, an increase of 1,298 lots [2]. 3.1.2 Variety Price - The total trading volume of soybean oil contracts was 350,578 lots, and the total open interest was 849,672 lots, an increase of 6,022 lots from the previous day [4]. 3.1.3 Related Market - The daily trading volume of soybean oil options was 63,696 lots, and the open interest was 105,582 lots, an increase of 9,804 lots. The number of exercised options was 0 [7]. 3.2 Spot Market - The spot price of Grade - 1 soybean oil in Zhangjiagang on the day was 8,640 yuan/ton. The settlement price of the main contract v2601 was 8,418 yuan/ton, with a basis of 222 yuan/ton [8]. 3.3 Influencing Factors - On September 15, commodity funds net - sold 3,000 lots of CBOT soybean futures contracts, 12,000 lots of corn futures contracts, 500 lots of soybean meal futures contracts, and 1,000 lots of soybean oil futures contracts, while net - buying 1,500 lots of wheat futures contracts [9]. 3.4 Market Outlook - The soybean oil futures are expected to maintain a volatile pattern in the short term due to the mix of bullish and bearish factors. Key factors to watch include the US EPA's biofuel policy decision, China - US trade negotiation progress, and domestic pre - festival stocking demand [10].
豆油期货日报-20250918
Guo Jin Qi Huo·2025-09-18 13:14