Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The U.S. soybean export inspection volume in the week ending January 22, 2026, was 1,324,408 tons, meeting market expectations, with 67.76% shipped to China. The cumulative export inspection volume this crop - year is 20,668,363 tons, lower than the same period last year [1]. - Brazil exported 1,521,682.57 tons of soybeans in the first four weeks of January 2026, with a 96% increase in the daily average export volume compared to January last year. Multiple institutions have raised Brazil's 2025/26 soybean production forecast, but the high - temperature and dry weather in Rio Grande do Sul needs attention [1]. - Argentina's 2025/26 soybean planting area is estimated at 17.4 million hectares, a 3.3% decrease from the previous year [1]. - Malaysia's palm oil export volume from January 1 - 25, 2026, increased compared to the same period last month, while the production from January 1 - 20 and January 1 - 25 decreased compared to the previous month [1]. 3. Summary by Relevant Catalogs Overnight Market Information - U.S. soybean export inspection volume in the week ending January 22, 2026, was 1,324,408 tons, within the market forecast range of 900,000 - 1,550,000 tons. The volume to China was 897,459 tons, accounting for 67.76% of the total. The cumulative export inspection volume this crop - year is 20,668,363 tons, compared to 33,052,451 tons in the same period last year [1]. - Brazil exported 1,521,682.57 tons of soybeans in the first four weeks of January 2026, with a daily average of 95,105.16 tons, a 96% increase from January last year's daily average of 48,598.48 tons [1]. - AgRural raised Brazil's 2025/26 soybean production forecast to 181 million tons from 180.4 million tons, with 4.9% of the harvest completed, higher than the previous week and the same period last year [1]. - Hedgepoint Global Markets raised Brazil's 2025/26 soybean production forecast to 179.5 million tons from 178 million tons due to favorable weather conditions [1]. - Argentina's 2025/26 soybean planting area is estimated at 17.4 million hectares, a 3.3% decrease from the previous year [1]. - Malaysia's palm oil export volume from January 1 - 25, 2026, increased by 9.97% (ITS data) and 7.97% (AmSpec data) compared to the same period last month. The production from January 1 - 20 decreased by 14.43% (MPOA data), and from January 1 - 25 decreased by 14.81% (SPPOMA data) [1]. Spot Prices - The 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 20 - 26, 2026, are presented in a table [5]. Other Sections - There are also sections about "Oil Basis", "Oil and Oilseed Futures Spread", "Oil Import Profit", and "Protein Meal Basis", but no specific content is provided in the given text [8][10][12]
油脂油料早报-20260127
Yong An Qi Huo·2026-01-27 01:11