Group 1 - The core point of the news is that the United States and the European Union have reached a framework agreement for a trade deal, which includes a 15% uniform tariff on most EU imports and the elimination of all tariffs on US industrial products by the EU [1][3][4] - The agreement outlines 19 key areas, including agricultural products, automobiles, aircraft, semiconductor chips, energy, and digital trade barriers [3][8] - The US will apply either the most-favored-nation (MFN) tariff rate or a 15% tariff rate on EU-origin goods, with specific products subject to MFN tariffs starting from September 1, 2025 [3][5] Group 2 - The EU will eliminate all tariffs on US industrial products and provide preferential market access for various US agricultural products, including nuts, dairy, and meat [7][8] - The EU plans to purchase $750 billion worth of US energy products, including liquefied natural gas and nuclear products, and at least $40 billion in US AI chips for data center construction [8][9] - Both parties agreed to negotiate rules of origin to ensure that the benefits of the agreement are shared primarily between the US and the EU [9][10]

Report Industry Investment Rating - The investment strategy for the oil and fat industry is neutral [4] Core View of the Report - The prices of the three major oils fluctuated yesterday. The EU and Indonesia reached a zero - tariff quota for palm oil trade, which is beneficial for palm oil exports. However, the market expects that the zero - tariff palm oil exports from Indonesia to the EU will mainly increase the demand for palm oil in the food industry, with limited impact, and the oils will continue to fluctuate [3] Summary by Related Content Futures Prices - Yesterday's closing price of the palm oil 2509 contract was 8982.00 yuan/ton, a环比 change of +12 yuan, or +0.13%; the closing price of the soybean oil 2509 contract was 8240.00 yuan/ton, a环比 change of +14.00 yuan, or +0.17%; the closing price of the rapeseed oil 2509 contract was 9621.00 yuan/ton, a环比 change of +129.00 yuan, or +1.36% [1] Spot Prices - In the Guangdong region, the spot price of palm oil was 9000.00 yuan/ton, a环比 change of +60.00 yuan, or +0.67%, and the spot basis was P09 + 18.00, a环比 change of +48.00 yuan; in the Tianjin region, the spot price of first - grade soybean oil was 8370.00 yuan/ton, a环比 change of +20.00 yuan/ton, or +0.24%, and the spot basis was Y09 + 130.00, a环比 change of +6.00 yuan; in the Jiangsu region, the spot price of fourth - grade rapeseed oil was 9710.00 yuan/ton, a环比 change of +130.00 yuan, or +1.36%, and the spot basis was OI09 + 89.00, a环比 change of +1.00 yuan [1] Market News - The EU and Indonesia reached an agreement to advance the Comprehensive Economic Partnership Agreement (CEPA), and they agreed on a tariff quota method for palm oil trade, which will set a quota for the quantity of EU - imported palm oil eligible for 0% tariff [2] - The C&F price of Canadian rapeseed (October shipment) was 579 dollars/ton, down 6 dollars/ton from the previous trading day; the C&F price of Canadian rapeseed (December shipment) was 569 dollars/ton, down 6 dollars/ton from the previous trading day. The C&F price of Argentine soybean oil (August shipment) was 1182 dollars/ton, down 1 dollar/ton from the previous trading day; the C&F price of Argentine soybean oil (October shipment) was 1140 dollars/ton, unchanged from the previous trading day. The C&F quote of imported rapeseed oil: the C&F price of Canadian rapeseed oil (August shipment) was 1060 dollars/ton, unchanged from the previous trading day; the C&F price of Canadian rapeseed oil (October shipment) was 1040 dollars/ton, unchanged from the previous trading day. The C&F price of US Gulf soybeans (September shipment) was 460 dollars/ton, up 5 dollars/ton from the previous trading day; the C&F price of US West soybeans (September shipment) was 455 dollars/ton, up 5 dollars/ton from the previous trading day; the C&F price of Brazilian soybeans (September shipment) was 469 dollars/ton, up 1 dollar/ton from the previous trading day. The import soybean premium quotes: the premium of the Mexican Gulf (September shipment) was 229 cents/bushel, up 5 cents/bushel from the previous trading day; the premium of the US West Coast (September shipment) was 202 cents/bushel, up 5 cents/bushel from the previous trading day; the premium of Brazilian ports (September shipment) was 270 cents/bushel, up 7 cents/bushel from the previous trading day [2] - As of the week of July 23, Argentine farmers sold 78.77 tons of 24/25 - year soybeans, bringing the cumulative sales to 2743.16 tons. The local oil mills purchased 74.57 tons, and the export industry purchased 4.2 tons. In addition, Argentine farmers sold 4.3 tons of 25/26 - year soybeans, bringing the cumulative sales to 48.95 tons. The local oil mills purchased 4.3 tons, and the export industry purchased 0 tons. The total soybean sales of all years in that week were 84.69 tons, bringing the cumulative sales to 6864.8 tons. As of July 23, the cumulative export sales registration quantity of 24/25 - year soybeans was 803.7 tons, and the cumulative export sales registration quantity of 25/26 - year soybeans was 0 tons [2]

Group 1 - The core point of the article is that the U.S. and Japan have reached a significant trade agreement, which has implications for South Korea's ongoing trade negotiations with the U.S. [1][4] - Japan will invest $550 billion in the U.S. and pay a 15% tariff, setting a benchmark for South Korea's negotiations [1][4] - South Korea's government has decided to exclude rice and beef market openings from the negotiation agenda, focusing instead on expanding imports of energy crops [1][3] Group 2 - South Korea imports approximately 132,000 tons of rice from the U.S. annually, with a 5% tariff, and any increase in quotas requires World Trade Organization approval [3] - In 2024, South Korea imported $2.22 billion worth of U.S. beef, making it a major market for U.S. beef despite existing restrictions [3] - Analysts believe that the U.S.-Japan agreement will pressure South Korea to achieve similar or better terms in its negotiations [4][5]

加拿大将收紧对部分外国国家的钢铁配额 金十数据7月16日讯，加拿大将把非自由贸易协定国家钢铁产品的关税配额水平从2024年的100%降低至 50%，超过这些水平的进口将征收50%的关税。 ...

Group 1 - The Canadian government has announced new tariff quotas on steel products imported from "non-free trade agreement partner" economies, set at 2.6 million tons, equivalent to the 2024 import level [1] - An additional tax of 50% will be imposed on steel imports exceeding the 2024 level, which will accumulate on all existing tariffs and anti-dumping measures [1] - This temporary trade measure aims to stabilize the Canadian steel market and address the risk of steel originally destined for the U.S. being rerouted to Canada [1] Group 2 - The new tariff quota is part of a broader initiative announced on June 19 to protect Canada's steel and aluminum industries and workers [1] - Other measures include adjusting existing counter-tariffs on steel and aluminum products to match U.S. levels and implementing a reciprocal procurement policy limited to Canadian suppliers [1] - The Canadian government plans to establish special working groups for the steel and aluminum industries to support decision-making and will introduce a new CAD 10 billion loan mechanism for large enterprises facing financing difficulties [1]