油脂油料早报-20260112

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - There are multiple updates on the soybean and palm oil markets, including export sales, harvest progress, and inventory levels [1]. 3) Summary by Related Catalogs Soybean - A private exporter reported the sale of 198,000 tons of soybeans for the 2025/2026 market year to an unknown destination [1]. - Brazilian farmers have harvested 0.53% of the 2025/26 soybean crop, compared to 0.05% last year and a five - year average of 0.39% [1]. - In Brazil's Mato Grosso state, the 2025/26 soybean harvest started slightly earlier, with 1.98% of the total area harvested as of Friday, up 1.28 percentage points from 2025 and ahead of the historical average of 1.09% [1]. - On January 13, 2026, the National Grain and Material Reserves Bureau's Grain Trading Coordination Center will organize a competitive trading of imported soybeans, with a quantity of 1.1396 million tons at 13:30 [1]. Palm Oil - Malaysia's palm oil exports from January 1 - 10 were 504,400 tons, a 29.2% increase from the same period last month [1]. - A survey shows that Malaysia's palm oil inventory at the end of December was 2.97 million tons, the highest since January 2019. December production is expected to decline 8.7% month - on - month to 1.77 million tons, while exports are expected to increase 2.9% month - on - month to 1.245 million tons [1]. Spot Prices - Spot prices of various products such as soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from January 5 - 9, 2026 are provided [6].