油脂油料早报-20260330

Report Summary 1. Core Views - The Iran war has disrupted US farmers' planting plans, leading to a decrease in corn planting area and an increase in soybean planting area [1]. - The Trump administration is providing $12 billion in aid to US farmers, and agricultural groups are urging Congress to approve additional assistance [1]. - The USDA will release its annual planting intention report, but the estimates may not fully account for the impact of the war [1]. - The Trump administration has finalized new biofuel blending mandates for the US refining industry, increasing the obligations for 2026 and 2027 [1]. - Malaysia's palm oil exports from March 1 - 25, 2026, increased by 50.42% compared to the same period last month, while its March 1 - 20, 2026, crude palm oil production decreased by 5.94% month - on - month [1]. - Expana maintains its forecast for the EU's 2026 rapeseed production at 20.8 million tons and raises its forecast for sunflower seed production to 10 million tons [1]. 2. Key Data - Analysts expect US corn planting area to drop to 94.371 million acres in 2026 from 98.788 million acres in 2025, and soybean planting area to rise to 85.549 million acres from 81.215 million acres in 2025 [1]. - The Trump administration's new biofuel blending mandates for 2026 and 2027 are 26.81 billion and 27.02 billion RINs respectively, a significant increase from the initial proposal of 24.02 billion gallons [1]. - Malaysia's palm oil exports from March 1 - 25, 2026, were 1.080898 million tons, compared to 718,603 tons in the same period last month [1]. - Malaysia's March 1 - 20, 2026, crude palm oil production decreased by 5.94% month - on - month, with Peninsular Malaysia down 3.61%, Sabah down 10.57%, Sarawak down 2.43%, and Borneo down 8.47% [1]. - Expana forecasts the EU's 2026 rapeseed production at 20.8 million tons and 2026/27 sunflower seed production at 10 million tons [1]. 3. Spot Prices | Date | Soybean Meal (Jiangsu) | Rapeseed Meal (Guangdong) | Soybean Oil (Jiangsu) | Palm Oil (Guangzhou) | Rapeseed Oil (Jiangsu) | | ---- | ---- | ---- | ---- | ---- | ---- | | 2026/03/23 | 3270 | 2420 | 9040 | - | 10500 | | 2026/03/24 | 3230 | 2400 | 8970 | 9600 | 10380 | | 2026/03/25 | 3190 | 2350 | 8860 | 9430 | 10220 | | 2026/03/26 | 3180 | 2350 | 8950 | 9560 | 10350 | | 2026/03/27 | 3160 | 2340 | 8990 | 9710 | 10380 | [1][7]