油脂油料早报-20251029

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - ANEC estimates Brazil's soybean exports in October 2025 to be 7 million tons, down from the previous week's estimate of 7.34 million tons; the country's October 2025 soybean meal exports are expected to be 2.08 million tons, slightly lower than the previous week's 2.09 million tons [1] - GAPKI states that due to favorable weather and strong prices, Indonesia's palm oil production in 2025 is expected to increase by 10% to around 56 million tons, up from the previous estimate of 53.63 million tons; exports are expected to reach 30 - 31 million tons, higher than 29 million tons in 2024 [1] - GAPKI predicts that Indonesia's palm oil production will increase by another 5% in 2026, and plans to use insect - pollination to boost production by the end of 2026 or early 2027 [1] 3. Section Summaries Overnight Market Information - Brazil's October 2025 soybean and soybean meal export volume estimates are adjusted downward [1] - Indonesia's 2025 palm oil production is expected to grow by 10%, exports to increase, and production in 2026 to rise by 5%; the country's August 2025 palm oil inventory decreased by 1%, exports fell by 1.8%, and production remained stable [1] Spot Prices - From October 22 to 28, 2025, the spot prices of soybean meal, rapeseed meal, soybean oil, palm oil, and rapeseed oil in different regions showed fluctuations [2] Protein Meal Basis and Oil Basis - Not detailed in the given content Oil and Oilseed Futures Spreads - Not detailed in the given content