Report Summary 1. Report Industry Investment Rating No information provided. 2. Report's Core View - Palm oil is affected by crude oil and macro - sentiment, with a strategy of low - buying for rebound [1] - Soybean oil has weak drivers in the soybean system and will trade in a range [1] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - **Futures Prices and Volume/Position Data** - Palm oil主力: Day - session closing price is up 1.41%, night - session down 0.46%; trading volume is 721,694 hands (up 125,680), open interest is 475,283 hands (up 55,027) [1] - Soybean oil主力: Day - session closing price is up 0.16%, night - session down 0.41%; trading volume is 438,716 hands (up 161,139), open interest is 591,439 hands (up 2,004) [1] - Rapeseed oil主力: Day - session closing price is up 0.26%, night - session down 0.12%; trading volume is 500,517 hands (up 145,502), open interest is 327,483 hands (down 2,907) [1] - Malaysian palm oil主力: Day - session closing price is up 0.80%, night - session down 0.74% [1] - CBOT soybean oil主力: Day - session closing price is down 1.10% [1] - **Spot Prices and Basis** - Palm oil (24 - degree, Guangdong): Spot price is 8,700 yuan/ton, up 100 yuan/ton; basis is 510 yuan/ton [1] - First - grade soybean oil (Guangdong): Spot price is 8,060 yuan/ton, unchanged; basis is 336 yuan/ton [1] - Fourth - grade imported rapeseed oil (Guangxi): Spot price is 9,450 yuan/ton, unchanged [1] - Malaysian palm oil FOB: Spot price is 975 dollars/ton, up 5 dollars/ton [1] - **Price Spreads** - Rapeseed - palm oil futures spread: 1,237 yuan/ton (previous 1,327 yuan/ton) [1] - Soybean - palm oil futures spread: - 466 yuan/ton (previous - 364 yuan/ton) [1] - Palm oil 9 - 1 spread: 30 yuan/ton (previous 16 yuan/ton) [1] - Soybean oil 9 - 1 spread: 30 yuan/ton (previous 18 yuan/ton) [1] - Rapeseed oil 9 - 1 spread: 167 yuan/ton (previous 169 yuan/ton) [1] 3.2 Macro and Industry News - Malaysia will increase the biodiesel blending ratio for airport ground vehicles from B10 to B20 [2] - The EU's anti - deforestation law will impose new restrictions on imports. Four countries are classified as "high - risk", and major forest countries like Brazil, Indonesia, and Malaysia are "standard - risk". 9% of exports from high - risk countries and 3% from standard - risk countries need compliance checks [3] - As of May 25, Canadian canola exports decreased 10.36% to 16.01 tons week - on - week. From August 1, 2024, to May 25, 2025, exports increased 59.29% year - on - year to 834.87 tons, and the commercial inventory was 91.99 tons [3] 3.3 Trend Intensity - Palm oil trend intensity: 0 - Soybean oil trend intensity: 0 [4]