棕榈油：产地驱动有限，反套继续持有，豆油：区间运行，关注中美经贸关系

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - Palm oil: Limited drivers from production areas, continue to hold reverse spreads [1] - Soybean oil: Range-bound operation, pay attention to China-US economic and trade relations [1] 3. Summary by Related Catalogs 3.1 Fundamental Tracking 3.1.1 Futures - Palm oil主力: Closing price (day session) was 9,322 yuan/ton with a decline of 0.09%, closing price (night session) was 9,322 yuan/ton with no change; trading volume was 448,936 hands with a decrease of 77,751 hands, and open interest was 353,041 hands with an increase of 2,263 hands [2] - Soybean oil主力: Closing price (day session) was 8,252 yuan/ton with an increase of 0.15%, closing price (night session) was 8,234 yuan/ton with a decline of 0.22%; trading volume was 206,030 hands with a decrease of 52,905 hands, and open interest was 497,389 hands with an increase of 3,429 hands [2] - Rapeseed oil主力: Closing price (day session) was 9,932 yuan/ton with a decline of 0.27%, closing price (night session) was 9,922 yuan/ton with a decline of 0.10%; trading volume was 203,023 hands with a decrease of 19,449 hands, and open interest was 296,642 hands with a decrease of 3,196 hands [2] - Malaysian palm oil主力: Closing price was 4,474 ringgit/ton with an increase of 0.31%, closing price (night session) was 4,480 ringgit/ton with an increase of 0.07% [2] - CBOT soybean oil主力: Closing price was 50.83 cents/pound with an increase of 0.51% [2] 3.1.2 Spot - Palm oil (24 degrees, Guangdong): Spot price was 9,200 yuan/ton with a decrease of 80 yuan/ton [2] - Grade 1 soybean oil (Guangdong): Spot price was 8,590 yuan/ton with a decrease of 30 yuan/ton [2] - Grade 4 imported rapeseed oil (Guangxi): Spot price was 10,150 yuan/ton with a decrease of 30 yuan/ton [2] - Malaysian palm oil FOB (continuous contract): Spot price was 1,105 dollars/ton with a decrease of 5 dollars/ton [2] 3.1.3 Basis - Palm oil (Guangdong): Basis was -122 yuan/ton [2] - Soybean oil (Guangdong): Basis was 338 yuan/ton [2] - Rapeseed oil (Guangxi): Basis was 218 yuan/ton [2] 3.1.4 Spread - Rapeseed oil - palm oil futures主力 spread: The spread was 610 yuan/ton, compared with 629 yuan/ton two days ago [2] - Soybean oil - palm oil futures主力 spread: The spread was -1,070 yuan/ton, compared with -1,090 yuan/ton two days ago [2] - Palm oil 1 - 5 spread: The spread was 84 yuan/ton, compared with 108 yuan/ton two days ago [2] - Soybean oil 1 - 5 spread: The spread was 202 yuan/ton, compared with 222 yuan/ton two days ago [2] - Rapeseed oil 1 - 5 spread: The spread was 428 yuan/ton, compared with 495 yuan/ton two days ago [2] 3.2 Macro and Industry News - According to shipping survey agency ITS data, Malaysia's palm oil exports from October 1 - 15 were 862,724 tons, a 16.2% increase compared to the same period last month [3] - Indonesia plans to raise the export tax on crude palm oil (CPO) from the current 10% to 15% to fund the transition from the B40 to the B50 biodiesel program. The tax increase plan is still under discussion among ministries [4][5] - Brazil's Institute of Geography and Statistics (IBGE) expects Brazil's soybean production this year to be 165.866 million tons, a 14.4% increase compared to last year's 144.947 million tons [5] 3.3 Trend Intensity - Palm oil trend intensity: 0 - Soybean oil trend intensity: 0 Note: The trend intensity ranges from -2 to 2 (integers). The strength levels are classified as weak, slightly weak, neutral, slightly strong, and strong, where -2 indicates the most bearish and 2 indicates the most bullish [6]