Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - A private exporter reported selling 142,500 tons of soybeans to Mexico for delivery in the 2025/2026 marketing year [1] - ITS data showed that Malaysia's palm oil product exports from July 1 - 25, 2025, were 1,029,585 tons, a 9.2% decline from the same period in June [1] - AmSpec data indicated that Malaysia's palm oil product exports from July 1 - 25, 2025, were 896,484 tons, a 15.2% decrease from the same period in June [1] - Commodity group Expana raised its forecast for the EU's rapeseed production this year to 19.6 million tons, up from last month's estimate of 19.2 million tons, a 16.7% increase from the previous year [1] 3. Summary by Related Catalogs Overnight Market Information - Private exporter's soybean export to Mexico: 142,500 tons for 2025/2026 marketing year [1] - Malaysia's palm oil export data from July 1 - 25, 2025: ITS reported 1,029,585 tons with a 9.2% decline; AmSpec reported 896,484 tons with a 15.2% decline [1] - Expana's EU rapeseed production forecast: 19.6 million tons, up from 19.2 million tons last month, 16.7% higher than the previous year [1] Spot Prices - Price changes of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from July 21 - 25, 2025, are presented in a table [2] Others - There are also sections about main - producing country precipitation, imported soybean crushing profit, and oil import profit, as well as sections on oil - and - fat futures spreads, protein meal basis, and oil basis, but no detailed content is provided [1][3][9][10]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - The report provides overnight market information on the oil and oilseed industry, including data on soybean crushing, exports, and palm oil production and exports [1]. 3) Summary by Related Catalogs Overnight Market Information - USDA reported that the U.S. soybean crush in May 2025 was 6.11 million short tons (203.7 million bushels), and the corn consumption for fuel ethanol production was 449.4 million bushels, lower than the same period last year. The U.S. corn distillers dried grains with solubles (DDGS) production in May was 1.776 million tons, lower than last year's 2.003 million tons [1]. - Anec estimated that Brazil's soybean exports in June 2025 could reach 13.93 million tons, higher than the previous estimate, while the soybean meal exports could be 1.67 million tons, lower than the previous estimate [1]. - StoneX raised its production estimates for Brazil's 2024/25 soybean and corn crops. The soybean production is expected to reach 168.75 million tons, slightly higher than the previous estimate [1]. - SPPOMA data showed that Malaysia's palm oil production in June 2025 decreased by 0.65% month - on - month, with a decline in the fresh fruit bunch yield and oil extraction rate [1]. - Indonesia's May 2025 exports of crude and refined palm oil soared 53% year - on - year to 1.88 million tons, and the export value increased by nearly 71% to $1.85 billion. The first five months' exports were 8.3 million tons, higher than the same period last year [1]. Spot Prices - Spot prices of various oil and oilseed products such as soybean meal, rapeseed meal, soybean oil, palm oil, and rapeseed oil in different regions from June 25 to July 1, 2025 are presented [2]. Protein Meal Basis - Information on protein meal basis is mentioned, but no specific content is provided [3]. Oil Basis - Information on oil basis is mentioned, but no specific content is provided [6]. Oil and Oilseed Futures Spread - Information on oil and oilseed futures spread is mentioned, but no specific content is provided [8]

油脂油料早报 研究中心农产品团队 2025/06/25 隔 夜 市 场 信 息 ： USDA报告前瞻：美国2025年大豆播种面积料为8,365.5万英亩，玉米面积料为9,535万英亩 在美国农业部（USDA）公布年度作物播种面积报告之前，受访的分析师平均预计，美国2025年大豆播种面积为 8,365.5万英亩，预估区间介于8,250-8,530万英亩。美国农业部在3月31日的报告中预测大豆播种面积为8,349.5万英 亩。 分析师平均预计，美国2025年玉米播种面积为9,535万英亩，预估区间介于9,375-9,680万英亩，3月31日种植意向 报告中预估为9,532.6万英亩。 美国农业部将在北京时间7月1日00:00公布种植面积报告。 Anec：巴西6月大豆出口量料达到1,499万吨 巴西全国谷物出口商协会（Anec）预估，巴西6月大豆出口量料达到1,499万吨，高于前一周预估的1436万吨。 截至6月22日欧盟2024/25年度棕榈油进口量为276万吨 欧盟委员会公布的数据显示，截至6月22日，欧盟2024/25年度（自7月开始）迄今棕榈油进口量为276万吨，低于去 年同期的341万吨。 欧盟大豆进口量 ...

Report Industry Investment Rating - No relevant information provided Core Viewpoints - Argentina's Rosario Grain Exchange raised the forecast for the country's 2024/25 soybean production to 4,850 tons, up from the previous 4,550 tons, and predicted the 2025/26 wheat production to be 2,100 tons, higher than the 2,010 tons in 2024/25 [1] - If China and the US fail to resolve trade disputes, US soybean exports are expected to decrease by 20%, and the price paid to farmers will decline [1] - Indonesia increased the special export tax on crude palm oil from 7.5% to 10% of the reference price of crude palm oil, and adjusted the special export tax on refined palm oil products to 4.75%-9.5% [1] - India's palm oil imports in a certain month decreased by 24.29% month-on-month, while soybean oil imports increased by 1.6% and sunflower oil imports decreased by 5.5% [1] Summary by Relevant Catalog Annual Production Forecast - Argentina's 2024/25 soybean production forecast was raised to 4,850 tons, and the 2025/26 wheat production forecast is 2,100 tons [1] US Soybean Exports - If trade disputes remain unresolved, US soybean exports may drop from the initial forecast of 1.865 billion bushels to 1.5 billion bushels, and the average price paid to farmers is expected to fall to $9.10 per bushel in 2025/26 [1] Indonesia's Palm Oil Policy - Indonesia increased the special export tax on crude palm oil and adjusted that on refined palm oil products, aiming to raise funds for biodiesel blending and other projects [1] India's Oilseeds Imports - India's palm oil imports decreased by 24.29% month-on-month, soybean oil imports increased by 1.6%, and sunflower oil imports decreased by 5.5% [1] Spot Prices - From May 8 to May 14, 2025, the spot prices of various oilseeds and oils in different regions showed fluctuations [2]

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - Brazil's 2024/25 soybean crop commercial sales are behind schedule, with 57% of the expected output sold, lower than last year's 64.6% and the five - year average of 70.3%, though it increased by 6.3 percentage points from last month [1] - Brazil's 2025/26 soybean sales reached 7.9% of the expected output, still lower than last year's 9.9% and the historical average of 17.2%, indicating producers' caution due to market uncertainties [1] - A US private exporter reported selling 120,000 tons of soybeans to Pakistan for the 2025/2026 market year [1] - Canada's rapeseed exports increased by 8% to 184,500 tons in the current week compared to the previous week, and exports from 2024 to 2025 increased by 70% compared to the previous year [1] 3. Summary by Related Catalogs Brazil Soybean Sales - 2024/25: With an expected output of 172.45 million tons, 97.88 million tons have been sold, accounting for 57% of the expected output [1] - 2025/26: With an expected output of 182.57 million tons, about 14,350 tons have been sold, accounting for 7.9% of the expected output [1] US Soybean Exports - A US private exporter reported selling 120,000 tons of soybeans to Pakistan for the 2025/2026 market year [1] Canada Rapeseed Exports - Current week: Exports increased by 8% to 184,500 tons compared to the previous week [1] - 2024 - 2025: Exports reached 7.8791 million tons, a 70% increase compared to the previous year [1] - As of a certain date, commercial inventory was 1.201 million tons [1] Spot Prices - Provided spot prices for soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from April 30, 2025, to May 9, 2025 [2]