油脂油料早报-20260209

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - Brazil's 2025/26 soybean harvest progress is faster than last year, with a national harvest rate of 16.55% and Mato Grosso state reaching 39.61% as of February 6, but there are regional differences in progress [1] - Despite slow farmer sales, Brazil's soybean exports in February 2026 are expected to soar, with an estimated 1 - 2 month export volume of 14 million tons and a projected annual export of 112 million tons [1] - Canada's rapeseed inventory increased by 18.1% year - on - year to 15.6 million tons as of December 31, 2025, while exports decreased by 36.1% to 2.8 million tons [1] - Malaysia's palm oil production from February 1 - 5, 2026, increased by 7.65% month - on - month [1] 3. Summary by Related Catalogs Overnight Market Information - Brazil's 2025/26 soybean harvest rate is 16.55%, higher than 9.84% last year, with good yield in most regions but harvest in the central - north and Parana state being affected [1] - Mato Grosso's 2025/26 soybean harvest rate reached 39.61% as of February 6, far higher than last year and the five - year average, with a 14.64 - percentage - point increase this week [1] - Brazil's soybean exports in February 2026 are expected to increase. Although farmer sales are slow, the 1 - 2 month export volume may reach 14 million tons, and the annual export is expected to be 112 million tons. The current sales rate is lower than the historical average [1] - Canada's rapeseed inventory increased by 18.1% year - on - year to 15.6 million tons as of December 31, 2025, mainly due to a 21.2% increase in farm inventory. Exports decreased by 36.1% to 2.8 million tons, likely due to Chinese tariffs [1] - Malaysia's palm oil production from February 1 - 5, 2026, increased by 7.65% month - on - month, with a 5.71% increase in fresh fruit bunch yield and a 0.37% increase in oil extraction rate [1] Spot Prices - Spot prices of soymeal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from February 2 - 6, 2026, are provided, with price fluctuations during this period [2] Other Information - Information on main - producing country precipitation, imported soybean crushing profit, and grease import profit is mentioned, but no specific data is provided [1] - Information on grease basis, grease - oilseed price difference, and protein meal basis is mentioned, but no specific data is provided [6][8][12]