Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Views - The USDA's weekly export sales report was suspended due to the US federal government shutdown, but the overseas agricultural service will continue to process export sales information, and missing data will be补发 after federal funds are restored [1] - As of the week ending October 23, 2025, the net increase in US soybean export sales for the 2025/26 market year is expected to be 60 - 160 million tons, the net increase in US soybean meal export sales is expected to be 5 - 50 million tons, and the net increase in US soybean oil export sales is expected to be 0.5 - 2.5 million tons [1] - Rabobank predicts that Brazil's soybean planting area for the 2025/26 season will be 48.8 million hectares, a 2% increase from the previous year, with a production of 177 million tons, a 3% increase from the previous year [1] - Brazil's soybean crushing volume for the 2025/26 season is expected to reach a record 60 million tons, higher than the 58 million tons in the 2024/25 season, and the export volume is expected to be 111 million tons, the same as the previous year [1] Group 3: Summary by Relevant Catalogs Spot Prices - From October 23 - 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 fluctuated [2] Protein Meal Basis and Oil Basis - No specific content provided [3] Oil and Oilseed Futures Spreads - No specific content provided [4]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - ANEC estimates Brazil's soybean exports in October 2025 to be 7 million tons, down from the previous week's estimate of 7.34 million tons; the country's October 2025 soybean meal exports are expected to be 2.08 million tons, slightly lower than the previous week's 2.09 million tons [1] - GAPKI states that due to favorable weather and strong prices, Indonesia's palm oil production in 2025 is expected to increase by 10% to around 56 million tons, up from the previous estimate of 53.63 million tons; exports are expected to reach 30 - 31 million tons, higher than 29 million tons in 2024 [1] - GAPKI predicts that Indonesia's palm oil production will increase by another 5% in 2026, and plans to use insect - pollination to boost production by the end of 2026 or early 2027 [1] 3. Section Summaries Overnight Market Information - Brazil's October 2025 soybean and soybean meal export volume estimates are adjusted downward [1] - Indonesia's 2025 palm oil production is expected to grow by 10%, exports to increase, and production in 2026 to rise by 5%; the country's August 2025 palm oil inventory decreased by 1%, exports fell by 1.8%, and production remained stable [1] Spot Prices - From October 22 to 28, 2025, the spot prices of soybean meal, rapeseed meal, soybean oil, palm oil, and rapeseed oil in different regions showed fluctuations [2] Protein Meal Basis and Oil Basis - Not detailed in the given content Oil and Oilseed Futures Spreads - Not detailed in the given content

Group 1: Overnight Market Information - The soybean planting rate in Mato Grosso for the 2025/26 season has reached 60.05%, an increase of 16.48 percentage points from last week, higher than the five - year average of 57.27% and the same period last year of 55.73% [1] Group 2: Spot Prices | Date | Soybean Meal (Jiangsu) | Rapeseed Meal (Guangdong) | Soybean Oil (Jiangsu) | Palm Oil (Guangzhou) | Rapeseed Oil (Jiangsu) | | ---- | ---- | ---- | ---- | ---- | ---- | | 2025/10/20 | 2870 | 2480 | 8540 | - | 10230 | | 2025/10/21 | 2870 | 2450 | 8550 | 9200 | 10210 | | 2025/10/22 | 2860 | 2440 | 8480 | 9070 | 10160 | | 2025/10/23 | 2910 | 2470 | 8410 | 9030 | 10060 | | 2025/10/24 | 2910 | 2460 | 8440 | 9020 | 10090 | [1]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - Palm oil prices are supported by a decline in production in Southeast Asian producing areas, and the US biodiesel policy is favorable to the demand outlook for US soybean oil, so it is expected that oils will mainly maintain high - level fluctuations. Pay attention to the MPOB report data this month [3] - Protein meal: Recently, US soybeans have strengthened due to factors such as the possible release of positive signals in Sino - US trade relations and US biofuel policies, driving the continuous meal to follow a relatively strong shock. However, the domestic supply - loose pattern will still put pressure on the upside space, and it is expected that the continuous meal will maintain a shock situation [3] 3. Summary by Relevant Catalogs Domestic Futures Market - **Prices and Changes**: The previous day's closing prices of domestic futures for soybean oil, palm oil, and rapeseed oil were 7944, 8472, and 9607 respectively, with price changes of - 50, - 6, and - 12, and percentage changes of - 0.63%, - 0.07%, and - 3.15% respectively. The previous day's closing prices of domestic futures for soybean meal, rapeseed meal, and peanuts were 2954, 2458, and 8844 respectively, with price changes of - 4, - 2, and 26, and percentage changes of - 0.14%, - 0.08%, and 0.29% respectively [2] - **Spreads and Ratios**: There are various spread and ratio indicators for different varieties, such as Y9 - 1, P9 - 1, etc. The current values and previous values of these indicators are provided, showing certain changes [2] International Futures Market - **Prices and Changes**: The previous day's closing price of BMD palm oil was 4032 ringgit/ton, with a price change of 22 and a percentage change of 0.55%. The previous day's closing price of CBOT soybeans was 1048 cents/bu, with a price change of 1 and a percentage change of 0.05%. The previous day's closing price of CBOT US soybean oil was 55 cents/lb, with a price change of - 1 and a percentage change of - 0.96%. The previous day's closing price of CBOT US soybean meal was 292 dollars/ton, with a price change of 2 and a percentage change of 0.58% [2] Domestic Spot Market - **Prices and Changes**: Spot prices of various oils and meals are provided, such as Tianjin first - grade soybean oil at 8150, with a percentage change of - 0.73%, and Nantong soybean meal at 2800, with a percentage change of - 0.71% [2] - **Basis and Spreads**: Spot basis and spreads between different varieties are also given, such as the spot basis of Tianjin first - grade soybean oil being 206 and the spread between Guangzhou first - grade soybean oil and 24° palm oil being - 350 [2] Import Profit and Pressure - Import profit and pressure indicators for different imported varieties are presented, such as the current value of the near - month Malaysian palm oil being - 580, showing a change compared to the previous value [2] Warehouse Receipts - Current and previous values of warehouse receipts for various varieties like soybean oil, palm oil, and rapeseed oil are provided, with some showing changes [2] Industry Information - Malaysia's palm oil production from June 1 - 30 is estimated to decrease by 4.69%, with different changes in different regions [3] - The global food price index in June increased by 0.5% compared to May, reaching an average of 128.0 points [3] - As of the week ending June 29, the good - to - excellent rate of US soybeans was 66%, the flowering rate was 17%, and the pod - setting rate was 3% [3]

Report Summary 1) Report Industry Investment Rating No investment rating information is provided in the report. 2) Core View The report presents overnight market information on the oilseeds and oils industry, including sales and export data of major crops in different countries and production data of palm oil in Malaysia [1]. 3) Summary by Relevant Catalogs Overnight Market Information - Brazilian 2024/25 soybean sales reached 69.8% of the expected output, and 2025/26 sales reached 16.4% of the expected output [1] - Brazil exported 13,420,303 tons of soybeans in June 2025, compared to 13,959,612 tons in the same period last year [1] - Canadian canola exports in the week ending June 29, 2025, increased by 47.2% to 173,500 tons from the previous week, and from August 1, 2024, to June 29, 2025, exports increased by 50.9% to 9.1055 million tons compared to the same period last year. As of June 29, the commercial inventory was 1.2112 million tons [1] - Malaysian crude palm oil production in June 2025 decreased by 4.69% or 1.69 million tons month - on - month, with different production trends in different regions [1] Spot Price - The report shows 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 from June 30 to July 4, 2025, with price fluctuations observed [2] Others - There are also sections on protein meal basis, oils basis, and oils and oilseeds futures price spreads, but no specific data is provided [3][6]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - Datagro raised its production forecasts for Brazilian soybeans and corn in the 2024/25 season due to increased planting area and improved average yields [1]. - Canadian rapeseed crushing volume in April 2025 decreased compared to the previous month and the same period last year, along with declines in canola oil and meal production [1]. - Malaysian palm oil exports from May 1 - 25, 2025, increased significantly compared to the previous month, while production showed a slight increase [1]. 3) Summary by Related Catalogs Overnight Market Information - Brazilian soybean production in the 2024/25 season is expected to reach 172 million tons, up from the previous estimate of 171.2 million tons [1]. - Brazilian corn production is expected to reach 132.7 million tons, a 0.7% increase from the previous forecast [1]. - Canadian rapeseed crushing volume in April 2025 was 919,345 tons, a 10.27% decrease from the previous month and a 4% decrease from the same period last year [1]. - Canola oil production in April 2025 was 390,276 tons, a 10.5% decrease month - on - month and a 5.47% decrease year - on - year [1]. - Canola meal production in April 2025 was 543,039 tons, a 10.59% decrease month - on - month and a 2.27% decrease year - on - year [1]. - The cumulative rapeseed crushing volume in the 2024/25 season was 8,756,219 tons, with canola oil production of 3,694,686 tons and canola meal production of 5,141,549 tons [1]. - Malaysian palm oil exports from May 1 - 25, 2025, were 947,248 tons, a 34.71% increase compared to the same period in the previous month [1]. - Malaysian palm oil production from May 1 - 25, 2025, increased by 0.73% month - on - month, with a 1.06% decline in fresh fruit bunch yield and a 0.34% increase in oil extraction rate [1]. Imported Soybean Futures Margin, Fat Import Margin, Spot Price - Spot price data for various products from May 20 - 26, 2025, are provided, including prices for soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and canola oil in Jiangsu [4]. Protein Meal Basis, Fat Basis, Fat and Oil Futures Spread No detailed data or analysis provided.

Group 1: Overnight Market Information - A private exporter reported selling 110,000 tons of soybeans to an unknown destination for delivery in the 2024/2025 marketing year [1] - Anec estimated Brazil's soybean exports in April to reach 1.38 million tons, down from the previous week's forecast of 1.43 million tons, and the country's April soybean meal exports are expected to be 210,000 tons, down from the previous week's forecast of 240,000 tons [1] - Argentina's soybean sales hit the slowest pace in 11 years due to exchange - rate uncertainty and slow harvest caused by heavy rain [1] - Conab reported that as of April 26, 2025, Brazil's 2024/2025 soybean harvest rate was 94.8%, up from 92.53% the previous week and 90.5% the same period last year [1] Group 2: Spot Prices - Spot prices of various products (soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu) from April 23 to April 29, 2025 are presented in a table [5] Group 3: Other Information - The report also mentions topics such as precipitation in major producing countries, import soybean crushing profit on the futures market, grease basis, grease and oilseed price spreads on the futures market, grease import profit, and protein meal basis [2][8][12]