Report Summary 1. Report Industry Investment Rating - Not mentioned in the provided content. 2. Core Viewpoints - The US soybean export sales and shipments data show fluctuations, and the market has expectations for the US soybean production. Brazil's soybean exports are expected to increase in 2026, and Indonesia may raise the palm oil export tax [1]. 3. Summary of Relevant Catalogs Overnight Market Information - A private exporter reported selling 132,000 tons of soybeans to China for delivery in the 2025/2026 market year [1]. - For the week ending January 1, US current - market - year soybean export sales net increased 87.79 tons, down 25% from the previous week and 42% from the four - week average, in line with the market estimate of 75 - 130 tons. Exports to the Chinese mainland net increased 47.01 tons. US soybean exports shipped were 111.26 tons, down 9% from the previous week but up 17% from the four - week average, with 39.71 tons shipped to the Chinese mainland. The current - market - year new sales were 101.25 tons, and next - market - year new sales were 0 tons [1]. - For the week ending January 1, US current - market - year soybean meal export sales net increased 16.47 tons, in line with the market estimate of 10 - 30 tons. Exports shipped were 50.13 tons, up 92% from the previous week and 56% from the four - week average. Current - market - year new sales were 17.26 tons, and next - market - year new sales were 0.66 tons [1]. - Before the supply - demand report, analysts expected the 2025 US soybean production to be 4.229 billion bushels, with a yield of 52.7 bushels per acre and a harvested area of 80.28 million acres [1]. - Anec predicted that Brazil's soybean exports in January would be 2.4 million tons, higher than the 1.12 million tons in the same period last year and matching the 2024 record. Brazil's soybean meal exports in January are expected to be 1.64 million tons, the same as last year. Anec also expects Brazil's soybean exports to further increase in 2026, reaching 112 million tons, up from 108.68 million tons in 2025 [1]. - An Indonesian official said that due to financial constraints, Indonesia may raise the palm oil export tax to support the biodiesel program. Currently, the monthly export tax for crude palm oil is 10%, and for refined palm oil products, it is between 4.75 - 9.5%. The country plans to increase the biodiesel blending ratio to 50% this year, possibly starting from the second half [1]. Spot Prices - The spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from December 31, 2025, to January 8, 2026, are presented in a table, showing price fluctuations during this period [4]. Protein Meal Basis - Not elaborated in the provided content. Oil Basis - Not elaborated in the provided content. Oil and Oilseed Futures Spreads - Not elaborated in the provided content.
油脂油料早报-20260109
Yong An Qi Huo·2026-01-09 01:00