| 日期 | 豆粕江苏 | 菜粕广东 | 豆油江苏 | 棕榈油广州 | 菜油江苏 | | --- | --- | --- | --- | --- | --- | | 2025/09/05 | 2980 | 2590 | 8640 | 9470 | 9960 | | 2025/09/08 | 2980 | 2580 | 8600 | 9410 | 10030 | | 2025/09/09 | 2970 | 2590 | 8600 | 9420 | 10050 | | 2025/09/10 | 2960 | 2590 | 8520 | 9170 | 10030 | | 2025/09/11 | 2970 | 2610 | 8510 | 9260 | 10050 | 油脂油料早报 研究中心农产品团队 2025/09/12 隔 夜 市 场 信 息 ： 9月4日止当周美国大豆出口销售合计净增62.25万吨 USDA出口销售报告显示，9月4日止当周，美国2025/2026年度（9月1日开始）大豆出口销售净增54.11万吨，从 2024/2025年度结转而来的销售总计76.7万吨。 截至8月31日的出口装船为40.66万吨 ...

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - The US soybean meal export sales and shipments showed mixed performance in the week ending August 21, 2025, with current - year sales increasing and shipments decreasing [1]. - The estimated soybean crushing volume in the US in July 2025 is expected to reach a record high for the same period, driven by increased demand for vegetable oil from bio - fuel producers and higher profits [1]. - The soybean planting area in Brazil's Paraná state is expected to expand by 1% in the 2025/26 season, and the yield may increase by 4% [1]. - Canada's rapeseed production is expected to increase by 3.6% in 2025 due to a 5.7% increase in yield, offsetting the 2.0% reduction in the harvesting area [1]. 3) Summary by Related Catalogs Overnight Market Information - US soybean meal export sales: In the week ending August 21, 2025, current - year export sales net increased by 4.73 million tons (up 3% from the previous week and down 34% from the four - week average), and next - year sales net increased by 21.48 million tons. Market expectations were 2.5 - 15 million tons for current - year and 10 - 30 million tons for next - year sales. Export shipments were 19.81 million tons, down 25% from the previous week and 35% from the four - week average [1]. - US soybean crushing volume in July 2025: Expected to be 207.2 million bushels (6.218 million short tons), up 5.1% from June and 7.2% from July 2024, a record high for the same period. The estimated range is 204.8 - 212.0 million bushels, with a median of 207.1 million bushels. The increase is due to increased demand from bio - fuel producers and higher profits [1]. - US soybean oil inventory as of July 31, 2025: Expected to be 1.903 billion pounds, up 0.5% from the end of June and down 5.2% from July 2024. The estimated range is 1.875 - 1.960 billion pounds, with a median of 1.9 billion pounds [1]. - Brazil's Paraná state: The 2025/26 soybean planting area is expected to be about 5.8 million hectares, up 1% from the previous year, and the yield may reach about 22 million tons, up 4% [1]. - Canada's rapeseed: The 2025 production is expected to increase by 3.6% to 19.9 million tons, with a 5.7% increase in yield to 41.0 bushels per acre, offsetting a 2.0% reduction in the harvesting area to 21.4 million acres [1]. Spot Prices | Date | Soybean Meal (Jiangsu) | Rapeseed Meal (Guangdong) | Soybean Oil (Jiangsu) | Palm Oil (Guangzhou) | Rapeseed Oil (Jiangsu) | | --- | --- | --- | --- | --- | --- | | 2025/08/22 | 2980 | 2540 | 8620 | 9530 | 10010 | | 2025/08/25 | 3010 | 2570 | 8700 | 9520 | 10010 | | 2025/08/26 | 2990 | 2560 | 8670 | 9440 | 10030 | | 2025/08/27 | 2970 | 2550 | 8610 | 9440 | 9970 | | 2025/08/28 | 2960 | 2520 | 8580 | 9350 | 9880 | [2]

Group 1: Report Core View - Brazil's soybean exports in July are expected to reach 1,205 million tons, lower than the previous week's estimate of 1,211 million tons, and the July soybean meal exports are expected to reach 213 million tons, lower than the previous week's estimate of 240 million tons [1] - Argentina will resume soybean and by - product exports once the government officially implements the weekend - announced policy of reducing withholding tax. The soybean export withholding tax rate will be reduced from 33% to 26%, and that of soybean by - products from 31% to 24.5% [1] - Canada's rapeseed crushing volume in June 2025 was 856,096 tons, a 3% increase from the previous month and a 10.27% increase year - on - year. Rapeseed oil production was 364,592 tons, a 3.22% month - on - month increase and an 8.86% year - on - year increase. Rapeseed meal production was 507,038 tons, a 3.47% month - on - month increase and a 13.32% year - on - year increase [1] - The EU and Indonesia have reached an agreement. The EU will reduce the tax on Indonesian palm oil to 0% under the yet - to - be - signed CEPA, with a quota system. Any palm oil exceeding the quota will face a 3% tariff [1] Group 2: Spot Price - From July 23 to July 29, 2025, the spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu showed different fluctuations [4] Group 3: Other Information - There are data on oilseeds basis, oilseeds and fats price spreads, and protein meal basis, but no specific data content is provided [7][8][12]