建信期货油脂

Group 1: General Information - Reported industry: Oil and fat [1] - Report date: March 6, 2026 [2] - Research analysts: Yu Lanlan, Lin Zhenlei, Wang Haifeng, Hong Chenliang, Liu Youran [3] - Research team: Agricultural product research team [4] Group 2: Market Review and Operation Suggestions Market Review | Futures Contract | Previous Settlement Price | Opening Price | Highest Price | Lowest Price | Closing Price | Change | Change Rate | Trading Volume | Open Interest | Change in Open Interest | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | P2605 | 9012 | 8960 | 9128 | 8688 | 9070 | 58 | 0.64% | 516475 | 364671 | 2964 | | P2609 | 9028 | 8996 | 9140 | 8926 | 9092 | 64 | 0.71% | 73454 | 98074 | 5866 | | Y2605 | 8370 | 8360 | 8404 | 8292 | 8370 | 0 | 0.00% | 275271 | 659852 | 966 | | Y2609 | 8342 | 8306 | 8376 | 8262 | 8342 | 0 | 0.00% | 54178 | 256220 | 178 | | O1605 | 9507 | 9458 | 9566 | 9404 | 9489 | -18 | -0.19% | 167881 | 278896 | 908 | | O1609 | 9426 | 9370 | 9477 | 9326 | 9415 | -11 | -0.12% | 15744 | 59235 | 3785 | [7] Spot Price and Basis Information - Dongguan rapeseed oil trader's quotation: Spot: OI2605 + 360; April - May: OI2605 + 280; May - July: OI2605 + 120 - East China market soybean oil basis price: First - grade soybean oil: Spot: Y05 + 280; Far - month price: March - April: Y05 + 300; March - May: Y05 + 280; April - May: Y05 + 250; June - September: Y09 + 230; Third - grade soybean oil: Y05 + 260; Degummed soybean oil: March - May Y05 + 100 - Guangzhou Yihai 18 - degree palm oil: Y05 + 140; Dongguan factories' 24 - degree palm oil: Y05 - 40; Guangdong national standard 24 - degree palm oil: Y05 + 0 [7] Industry Comments - The three major oils fluctuated with the international crude oil price during the day. The current market of the oil and fat sector is mainly dominated by the game between "energy - attribute support" and "fundamental pressure". The short - term support comes from the Middle East conflict, so short - term long positions are recommended, but do not chase the high price. In the medium term, palm oil in the producing areas will enter the seasonal production - increasing cycle in March. Later, the arrival of imported soybeans in China will be concentrated. Coupled with the disappearance of the crude oil premium after the geopolitical sentiment cools down, the price center is likely to move down. Pay attention to the progress of the US biodiesel policy and the trend of international crude oil prices [8] Group 3: Industry News - StoneX lowered its forecast for Brazil's soybean production in the 2025/26 season to 177.8 million tons, a decrease of 3.8 million tons or 2.09% from the previous forecast of 181.6 million tons. However, the revised production is still a record - high level. Weather problems have caused some damage to the crops, especially the late and irregular rainfall in Rio Grande do Sul [9] - USDA's monthly soybean crushing report shows that the soybean crushing volume in the United States in January 2026 was 227.8 million bushels, a month - on - month decrease of 0.9% and a year - on - year increase of 7%. This data is slightly higher than the market expectation of 226.3 million bushels. As of the end of January 2026, the US soybean oil inventory was 2.433 billion pounds, a month - on - month increase of 11.7% and a year - on - year surge of 33.9%. This data also exceeded market expectations and was the highest level since April 2023 [9] Group 4: Data Overview - Figures include: East China third - grade rapeseed oil spot price, East China fourth - grade soybean oil spot price, South China 24 - degree palm oil spot price, palm oil basis change, soybean oil basis change, rapeseed oil basis change, P1 - 5 spread, P5 - 9 spread, P9 - 1 spread, US dollar to Malaysian ringgit exchange rate, US dollar to RMB exchange rate. All data sources are Wind and the research and development department of Jianxin Futures [11][15][19][25][29][33]