1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - Brazil's 2025/26 soybean sales reached 16.8% of the expected output, compared to 22.5% in the same period last year; 2024/25 soybean sales reached 78.4% of the expected output, compared to 82.2% in the same period last year [1] - From July to August 3, 2025 (2025/26 season), the EU's soybean imports were 970,000 tons, compared to 1.3 million tons in the same period of the previous year; the EU's soybean meal imports were 1.51 million tons, lower than 1.92 million tons in the same period last year; the EU's palm oil imports were 160,000 tons, compared to 360,000 tons in the same period of the previous year; the EU's rapeseed imports were 260,000 tons, compared to 430,000 tons in the same period of the previous year [1] - StoneX predicts that the US soybean production in 2025 will reach 4.425 billion bushels, with an average yield of 53.6 bushels per acre; the US corn production in 2025 will be 16.323 billion bushels, with an average yield of 188.1 bushels per acre, higher than the latest USDA forecasts [1] 3. Summary by Relevant Catalogs Overnight Market Information - Brazil's 2025/26 soybean sales reached 16.8% of the expected output, 2024/25 sales reached 78.4% of the expected output [1] - From July to August 3, 2025, the EU's soybean imports were 970,000 tons, soybean meal imports were 1.51 million tons, palm oil imports were 160,000 tons, and rapeseed imports were 260,000 tons [1] - StoneX predicts US 2025 soybean production of 4.425 billion bushels and corn production of 16.323 billion bushels, higher than USDA forecasts [1] Spot Prices - Spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from July 30 to August 5, 2025 are presented [2] Protein Meal Basis - No specific content provided [3] Oil Basis - No specific content provided [4] Oilseed Futures Price Spreads - No specific content provided [7]

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]