油脂日报：外部环境影响，油脂价格承压-20260203

Group 1: Report Industry Investment Rating - The strategy is neutral [4] Group 2: Report's Core View - External environmental impacts are putting pressure on the prices of edible oils. The prices of the three major edible oils fluctuated and declined yesterday. Due to changes in the macro - environment, the overall commodity market trended downward, causing the prices of edible oils to face pressure and the market to weaken [1][3] Group 3: Market Analysis Futures - The closing price of the palm oil 2605 contract yesterday was 9014.00 yuan/ton, a decrease of 226 yuan or 2.45% compared to the previous period. The closing price of the soybean oil 2605 contract was 8092.00 yuan/ton, a decrease of 190.00 yuan or 2.29%. The closing price of the rapeseed oil 2605 contract was 9136.00 yuan/ton, a decrease of 244.00 yuan or 2.60% [1] Spot - In Guangdong, the spot price of palm oil was 8950.00 yuan/ton, a decrease of 220.00 yuan or 2.40%, with a spot basis of P05 - 64.00, an increase of 6.00 yuan. In Tianjin, the spot price of first - grade soybean oil was 8400.00 yuan/ton, a decrease of 110.00 yuan/ton or 1.29%, with a spot basis of Y05 + 308.00, an increase of 80.00 yuan. In Jiangsu, the spot price of fourth - grade rapeseed oil was 9910.00 yuan/ton, a decrease of 240.00 yuan or 2.36%, with a spot basis of OI05 + 774.00, an increase of 4.00 yuan [1] Group 4: Recent Market Information Summary Brazil's Agricultural Situation - As of last Thursday, Brazilian farmers had completed 10% of the 2025/26 soybean harvest area, a 5 - percentage - point increase from the previous week and higher than the 9% progress of the same period last year. The second - season corn sowing area in Brazil has reached 13% of the expected total area, higher than 9% in the same period last year, while the first - season corn harvest progress is 10%, lower than 14% in the same period last year. Attention should be paid to the weather in Rio Grande do Sul in February, and the late - maturing areas of Paraná, Santa Catarina, and Mato Grosso do Sul may also suffer losses [2] International Commodity Prices - The C&F price of Canadian rapeseed (March shipment) is 546 US dollars/ton, a decrease of 5 US dollars/ton from the previous trading day; the C&F price of Canadian rapeseed (May shipment) is 554 US dollars/ton, a decrease of 5 US dollars/ton. The C&F price of Argentine soybean oil (March shipment) is 1202 US dollars/ton, a decrease of 6 US dollars/ton; the C&F price of Argentine soybean oil (May shipment) is 1143 US dollars/ton, a decrease of 6 US dollars/ton. The C&F quotation of imported rapeseed oil: Canadian rapeseed oil (February shipment) is 1080 US dollars/ton, an increase of 40 US dollars/ton; Canadian rapeseed oil (April shipment) is 1060 US dollars/ton, an increase of 40 US dollars/ton [2] Group 5: Figures List - The report includes 30 figures related to the prices, production, inventory, and other aspects of palm oil, soybean oil, and rapeseed oil, such as the daily average price, futures closing price, basis, and monthly export volume [5]