Group 1: Report Industry Investment Rating - The investment rating for the industry is neutral [4] Group 2: Core Viewpoints of the Report - The prices of the three major oils fluctuated yesterday. The supply - demand pattern of oils remains stable in the short term, and prices are mainly in a state of fluctuating adjustment [3] Group 3: Market Analysis Summary Futures Prices - The closing price of the palm oil 2601 contract yesterday was 9294.00 yuan/ton, with a month - on - month change of - 24 yuan and a decline of - 0.26%. The closing price of the soybean oil 2601 contract was 8294.00 yuan/ton, with a month - on - month change of - 4.00 yuan and a decline of - 0.05%. The closing price of the rapeseed oil 2601 contract was 9864.00 yuan/ton, with a month - on - month change of - 54.00 yuan and a decline of - 0.54% [1] Spot Prices - The spot price of palm oil in Guangdong was 9290.00 yuan/ton, with a month - on - month change of + 0.00 yuan and an increase of + 0.00%, and the spot basis was P01 + - 4.00, with a month - on - month change of + 24.00 yuan. The spot price of first - grade soybean oil in Tianjin was 8520.00 yuan/ton, with a month - on - month change of + 10.00 yuan/ton and an increase of + 0.12%, and the spot basis was Y01 + 226.00, with a month - on - month change of + 14.00 yuan. The spot price of fourth - grade rapeseed oil in Jiangsu was 10170.00 yuan/ton, with a month - on - month change of - 60.00 yuan and a decline of - 0.59%, and the spot basis was OI01 + 306.00, with a month - on - month change of - 6.00 yuan [1] Market News - ANEC expects Brazil's soybean exports in October to be 7.34 million tons, higher than last week's forecast of 7.31 million tons; soybean meal exports are expected to be 2.09 million tons, higher than last week's forecast of 2.01 million tons; and corn exports are expected to be 6.57 million tons, higher than last week's forecast of 6.46 million tons. A tropical storm "Melissa" has formed in the Caribbean, which is expected to affect eastern Cuba in the next few days and strengthen into a hurricane over the weekend. Haiti has issued a hurricane warning, and Jamaica has issued a tropical storm warning. From October 1 - 20, 2025, the yield per unit area of Malaysian palm oil increased by 1.45% month - on - month, the oil extraction rate increased by 0.24% month - on - month, and the output increased by 2.71% month - on - month [2] Group 4: Figures and Data Sources - The report includes 30 figures related to the prices, production, inventory, and other aspects of palm oil, soybean oil, and rapeseed oil, and most of the data sources are from Steel Union Data and Huatai Futures Research Institute [5]
油脂日报：供需结构稳定，油脂价格震荡-20251022
Hua Tai Qi Huo·2025-10-22 02:50