油脂油料早报-20260226

Report Industry Investment Rating - No relevant information provided Core Viewpoints - Before the USDA report, analysts estimated that U.S. soybean export sales from February 1 to 19, 2026, would net increase by 40 - 110 tons, with the 2025/26 market year expected to net increase by 40 - 100 tons and the 2026/27 market year by 0 - 10 tons. U.S. soybean meal export sales are expected to net increase by 25 - 50 tons, and U.S. soybean oil export sales are expected to net decrease by 1 ton to net increase by 1.6 tons [1] - The U.S. Environmental Protection Agency will submit a new biofuel blending volume authorization proposal to the White House on Wednesday, and the rule may be finalized by the end of March [1] - MPOA data shows that Malaysia's crude palm oil production from February 1 to 20, 2026, decreased by 12.29% compared to the previous month, with varying decreases in different regions [1] - Independent inspection company AmSpecAgri reported that Malaysia's palm oil product exports from February 1 to 25, 2026, decreased by 16.1% compared to the previous month, while ship - cargo inspection agency ITS reported a 12.1% decrease [1] - Statistics Canada data shows that Canada's rapeseed crushing volume in January 2026 was 1,053,420 tons, a 2.17% decrease from the previous month and a 4.24% increase from the same period last year. Rapeseed oil and rapeseed meal production also had corresponding changes [1] Summary by Relevant Catalogs Overnight Market Information - U.S. soybean export sales from February 1 to 19, 2026, are expected to net increase by 40 - 110 tons, with different expectations for different market years. U.S. soybean meal export sales are expected to net increase by 25 - 50 tons, and U.S. soybean oil export sales are expected to net decrease by 1 ton to net increase by 1.6 tons [1] U.S. Biofuel Regulations - The U.S. Environmental Protection Agency will submit a new biofuel blending volume authorization proposal to the White House on Wednesday, and the rule may be finalized by the end of March [1] Malaysia's Palm Oil Production and Exports - Malaysia's crude palm oil production from February 1 to 20, 2026, decreased by 12.29% compared to the previous month, with different decreases in different regions [1] - Malaysia's palm oil product exports from February 1 to 25, 2026, decreased by 16.1% (AmSpecAgri data) and 12.1% (ITS data) compared to the previous month [1] Canada's Rapeseed Crushing - Canada's rapeseed crushing volume in January 2026 was 1,053,420 tons, a 2.17% decrease from the previous month and a 4.24% increase from the same period last year. Rapeseed oil and rapeseed meal production also had corresponding changes [1] Spot Prices - 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 February 11 to 25, 2026, are provided [1][2]