油脂油料产业日报 2025/10/09 咨询业务资格：沪证监许可【2012】1515号 研报作者：许亮 Z0002220 审核：唐韵 Z0002422 【免责声明】 本报告基于本公司认为可靠的、已公开的信息编制，但本公司对该等信息的准确性及完整性不作任何保证。本报告所载的意见、结论及预测仅反映报告发布时的观点、结论 和建议。在不同时期，本公司可能会发出与本报告所载意见、评估及预测不一致的研究报告。本公司不保证本报告所含信息保持在最新状态。本公司对本报告所含信息可在不发出通知的情 形下做出修改， 交易者（您）应当自行关注相应的更新或修改。本公司力求报告内容客观、公正，但本报告所载的观点、结论和建议仅供参考，交易者（您）并不能依靠本报告以取代行 使独立判断。对交易者（您）依据或者使用本报告所造成的一切后果，本公司及作者均不承担任何法律责任。本报告版权仅为本公司所有。未经本公司书面许可，任何机构或个人不得以翻 版、复制、发表、引用或再次分发他人等任何形式侵犯本公司版权。如征得本公司同意进行引用、刊发的，需在允许的范围内使用，并注明出处为"东亚期货"，且不得对本报告进行任何有 悖原意的引用、删节和修改。本公司保留追究 ...

Report Summary 1. Core Views - **Palm Oil**: Internationally, the Malaysian BMD crude palm oil futures are oscillating at a high level, facing resistance at 4,500 ringgit. After a brief adjustment and stabilization, supported by overall bullish fundamentals, the futures may approach 4,500 ringgit. After effectively breaking through and holding above 4,500 ringgit, with potential bullish factors such as limited inventory growth at the end of August and continued export growth in September, there is a chance for an upward trend. Domestically, the Dalian palm oil futures are also in a high - level consolidation. After several unsuccessful attempts to break through 9,500 yuan, it is expected to strengthen further with the support of the rebound in Malaysian palm oil. After breaking through and stabilizing above 9,500 yuan, it may follow the upward trend of Malaysian palm oil and could even hit new highs. A near - term weak and long - term strong view is maintained [3]. - **Soybean Oil**: The expected high yield of US soybeans is weighing on CBOT soybeans and soybean oil, affecting the domestic oil market. Currently, the domestic soybean oil supply is sufficient, but downstream consumption is increasing as traders stock up for the fourth quarter. The short - term trend of Dalian soybean oil is a narrow - range oscillation. The January contract will continue to oscillate around 8,300 yuan. After the adjustment, based on the rise of international vegetable oils and the start of domestic consumption, the price may rise to around 8,500 yuan [4]. - **Bean Meal**: In the spot market, as oil mills in North China and other regions fulfill contracts normally, trading is light at the beginning of the month, and traders' quotes are down 10 - 30 yuan/ton. The impact of this week's imported soybean auction on the spot market is limited. Traders tend to replenish stocks at low prices during the oscillation. Massive trading may not occur until the middle of the month. The short - term spot price will fluctuate between 3,000 - 3,200 yuan/ton [17]. 2. Price Information 2.1 Oil Price Spreads | Spread Type | Price | Daily Change | | --- | --- | --- | | P 1 - 5 | 246 yuan/ton | - 4 | | P 5 - 9 | - 204 yuan/ton | - 8 | | P 9 - 1 | - 42 yuan/ton | 12 | | Y - P 01 | - 1,066 yuan/ton | - 30 | | Y - P 05 | - 1,108 yuan/ton | - 28 | | Y - P 09 | - 958 yuan/ton | - 18 | | Y 1 - 5 | 288 yuan/ton | - 6 | | Y 5 - 9 | - 354 yuan/ton | - 18 | | Y 9 - 1 | 66 yuan/ton | 24 | | OI 1 - 5 | 169 yuan/ton | 3 | | OI 5 - 9 | - 353 yuan/ton | - 58 | | OI 9 - 1 | 184 yuan/ton | 55 | | Y/M 01 | 2.7397 | 0.23% | | Y/M 05 | 2.8712 | 0.32% | | Y/M 09 | 2.8017 | 0.32% | | OI/RM 01 | 3.9064 | 0.16% | | OI/RM 05 | 4.0088 | 0.1% | | OI/RM 09 | 3.8974 | - 0.31% | [5] 2.2 Palm Oil Spot and Futures Prices | Contract | Price | Daily Change (Rate) | | --- | --- | --- | | Palm Oil 01 | 9,368 yuan/ton | - 0.57% | | Palm Oil 05 | 9,148 yuan/ton | - 0.31% | | Palm Oil 09 | 9,346 yuan/ton | - 0.36% | | BMD Palm Oil Main Contract | 4,434 ringgit/ton | - 0.94% | | Guangzhou 24 - degree Palm Oil | 9,300 yuan/ton | - 80 | | Guangzhou 24 - degree Basis | - 42 yuan/ton | 32 | | POGO | 492.819 dollars/ton | - 1.168 | | International Soybean - Palm Oil Spread | - 26.73 dollars/ton | - 12.5 | [7][8] 2.3 Soybean Oil Spot and Futures Prices | Contract | Price | Daily Change (Rate) | | --- | --- | --- | | Soybean Oil 01 | 8,366 yuan/ton | 0.52% | | Soybean Oil 05 | 8,070 yuan/ton | 0.39% | | Soybean Oil 09 | 8,454 yuan/ton | 0.47% | | CBOT Soybean Oil Main Contract | 52.5 cents/pound | 0.77% | | Shandong First - grade Soybean Oil Spot | 8,490 yuan/ton | 70 | | Shandong First - grade Soybean Oil Basis | 64 yuan/ton | - 8 | | BOHO (Weekly) | 56.202 dollars/barrel | - 9.3588 | | Domestic First - grade Soybean Oil - 24 - degree Palm Oil Spread | - 750 yuan/ton | - 70 | [13] 2.4 Oilseed Futures Prices | Contract | Closing Price | Daily Change | Daily Change Rate | | --- | --- | --- | --- | | Bean Meal 01 | 3,066 | 16 | 0.52% | | Bean Meal 05 | 2,821 | 11 | 0.39% | | Bean Meal 09 | 3,020 | 14 | 0.47% | | Rapeseed Meal 01 | 2,521 | 21 | 0.84% | | Rapeseed Meal 05 | 2,406 | 12 | 0.5% | | Rapeseed Meal 09 | 2,562 | 9 | 0.35% | | CBOT Yellow Soybeans | 1,040 | 0 | 0% | | Off - shore RMB | 7.1395 | 0.0036 | 0.05% | [18] 2.5 Bean Meal and Rapeseed Meal Spreads | Spread Type | Price | Daily Change | | --- | --- | --- | | M01 - 05 | 240 | 0 | | M05 - 09 | - 196 | - 6 | | M09 - 01 | - 44 | 6 | | RM01 - 05 | 106 | - 1 | | RM05 - 09 | - 159 | - 25 | | RM09 - 01 | 53 | 26 | | Bean Meal Rizhao Spot | 3,020 | 0 | | Bean Meal Rizhao Basis | - 30 | 4 | | Rapeseed Meal Fujian Spot | 2,508 | - 8 | | Rapeseed Meal Fujian Basis | 8 | 5 | | Bean Meal - Rapeseed Meal Spot Spread | 512 | 8 | | Bean Meal - Rapeseed Meal Futures Spread | 550 | 9 | [19][21]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Views of the Report - **Palm Oil**: Internationally, Malaysian BMD crude palm oil futures are expected to continue to rise in the short - term, potentially approaching 4500 ringgit, with a chance of briefly breaking through and reaching 4580 - 4600 ringgit. However, due to potential production growth and export slowdown in the second half of the month, there is a risk of a pull - back. The overall view is near - term strength and long - term weakness. Domestically, Dalian palm oil futures have the potential to continue rising after breaking through 9500 yuan, possibly reaching 10,000 yuan. It is crucial to monitor whether they can effectively stay above 9500 yuan [3]. - **Soybean Oil**: China's decision to impose a 75.8% anti - dumping tariff on Canadian rapeseed from August 15 will increase the demand for other oilseeds and vegetable oils. The USDA monthly report has lowered the forecast for US soybean production and ending stocks, which will boost the prices of CBOT soybeans and soybean oil in the short term, and also support the price of Dalian soybean oil. The continuation of Sino - US tariffs until early November makes the fourth - quarter soybean import volume uncertain. The main January contract may face resistance at 8700 yuan, and if it fails to break through, a technical correction may occur [4]. - **Oilseeds (Bean and Rapeseed Meal)**: The US Department of Agriculture's report unexpectedly lowered the US soybean planting area, reducing the new - season production forecast and benefiting South American soybean exports. The preliminary anti - dumping ruling on Canadian rapeseed has led to a limit - up in rapeseed meal futures, also boosting the price of soybean meal futures. Short - term attention should be paid to whether the main contract of Dalian soybean meal can reach the resistance range of 3180 - 3200 yuan/ton [16]. 3. Summary by Relevant Catalogs 3.1 Oil Price Spreads - **Inter - monthly and Inter - variety Spreads of Oils**: The report provides price spreads and their daily changes for various oil contracts, such as P 1 - 5, Y - P 01, etc. For example, P 1 - 5 is 318 yuan/ton with a daily increase of 66 yuan, and Y - P 01 is - 920 yuan/ton with a daily decrease of 122 yuan [5]. 3.2 Palm Oil Spot and Futures Prices - **Palm Oil Futures and Spot Prices**: Palm oil futures prices for different contracts (01, 05, 09) have increased, with the 01 contract at 9490 yuan/ton (up 1%), the 05 contract at 9170 yuan/ton (up 1.01%), and the 09 contract at 9424 yuan/ton (up 0.66%). The BMD palm oil main contract is at 4459 ringgit/ton (up 1.29%). The spot price of 24 - degree palm oil in Guangzhou is 9470 yuan/ton, and the basis is - 42 yuan/ton [7]. 3.3 Soybean Oil Spot and Futures Prices - **Soybean Oil Futures and Spot Prices**: Soybean oil futures prices for different contracts (01, 05, 09) have also increased, with the 01 contract at 8576 yuan/ton (up 2.33%), the 05 contract at 8118 yuan/ton (up 1.89%), and the 09 contract at 8592 yuan/ton (up 2.24%). The CBOT soybean oil main contract is at 53.07 cents/pound (up 0.11%). The spot price of first - grade soybean oil in Shandong is 8640 yuan/ton, and the basis is - 6 yuan/ton [13]. 3.4 Oilseed Futures Prices - **Bean and Rapeseed Meal Futures Prices**: Futures prices of bean and rapeseed meal have generally increased. For example, the bean meal 01 contract is at 3163 yuan/ton (up 2.33%), and the rapeseed meal 01 contract is at 2688 yuan/ton (up 4.92%). The price of CBOT yellow soybeans remains unchanged at 1032.25, and the offshore RMB exchange rate is 7.1852 (down 0.12%) [16]. 3.5 Bean and Rapeseed Meal Spreads - **Bean and Rapeseed Meal Price Spreads**: The report provides price spreads and their daily changes for different contracts of bean and rapeseed meal, such as M01 - 05, RM01 - 05, etc. For example, M01 - 05 is 294 yuan with a daily increase of 4 yuan, and RM01 - 05 is 100 yuan with a daily increase of 52 yuan [17].

Report Summary 1. Core Views - **Palm Oil**: Internationally, Malaysian BMD crude palm oil futures are oscillating between 4,200 - 4,250 ringgit, facing potential downward pressure due to increased production and decreased exports. A break below 4,200 ringgit may open a new downward space towards 4,000 ringgit. Domestically, Dalian palm oil futures are strongly oscillating at high levels between 8,800 - 8,900 yuan. Affected by the potential decline of Malaysian palm oil and rising domestic port inventories, there is downward pressure. Support levels are at around 8,600 and 8,500 yuan. The long - term upward trend remains unchanged, currently in a phased adjustment [3]. - **Soybean Oil**: Market demand has improved recently. Based on export news, the market anticipates a price increase, leading some traders to show purchasing interest. Factory sales exceeded 30,000 tons yesterday. Some regions have relatively low inventory pressure with rising basis quotes, while regions like Guangxi still face inventory issues affecting basis quotes. In the short - term, basis quotes will fluctuate slightly and may rise as domestic demand increases [3]. - **Bean Meal**: China is accelerating the purchase of South American soybeans to ensure Q4 supply. Brazilian premiums are rising, supporting import costs. Near delivery, institutions are accelerating position transfers, with the short - term 09 contract oscillating around 3,000 yuan. Spot prices at oil mills have increased by 10 - 40 yuan/ton. In August, due to Sino - US tariff concerns, terminal point - pricing risk - aversion has increased, improving trading volume. Mid - August may see a peak in oil mill bean meal inventories, and the market is brewing bullish sentiment, with many looking to buy far - month contracts at low prices [16]. 2. Price and Spread Information Oils - **Palm Oil**: Palm oil 01 is at 8,968 yuan/ton with a 0.4% increase; 05 is at 8,772 yuan/ton with a 0.76% increase; 09 is at 8,970 yuan/ton with a 0.27% increase. BMD palm oil主力 is at 4,249 ringgit/ton with a 0.45% increase. The Guangzhou 24 - degree palm oil price is 8,930 yuan/ton, down 10 yuan. The Guangzhou 24 - degree basis is 40 yuan/ton, up 22 yuan [6]. - **Soybean Oil**: Soybean oil 01 is at 8,226 yuan/ton with a 0.03% increase; 05 is at 7,848 yuan/ton with a 0.11% increase; 09 is at 8,274 yuan/ton with a 0.33% increase. CBOT soybean oil主力 is at 54.75 cents/pound, down 2.42%. Shandong first - grade soybean oil spot is at 8,240 yuan/ton, up 30 yuan. The Shandong first - grade soybean oil basis is 18 yuan/ton, up 8 yuan [12]. - **Oil Spreads**: Various oil spreads such as P 1 - 5, P 5 - 9, Y - P 01, etc. are provided, showing different price changes [4]. Oilseeds - **Bean Meal**: Bean meal 01 is at 3,037 with a 0.03% increase; 05 is at 2,738 with a 0.11% increase; 09 is at 3,010 with a 0.33% increase. - **Rapeseed Meal**: Rapeseed meal 01 is at 2,409, down 0.08%; 05 is at 2,375 with a 0.04% increase; 09 is at 2,675, down 0.89%. - **Spreads**: Spreads like M01 - 05, RM01 - 05, etc. are presented with their respective price changes [17][18][20].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Views of the Report - **Palm Oil**: Internationally, Malaysian BMD crude palm oil futures are oscillating around 4,200 ringgit, facing downward pressure due to increased production and decreased exports, and are expected to decline towards 4,000 ringgit. In the domestic market, Dalian palm oil futures are in a high - level oscillatory adjustment, likely to weaken and test the 8,500 yuan support level. If it stabilizes above 8,500 yuan, there may be a short - term rebound, but the future trend depends on Malaysian palm oil [3]. - **Soybean Oil**: Many factories are experiencing severe inventory overstock, causing traders to lower basis quotes. However, the basis of forward contracts is supported as there have been no recent US soybean purchases in the domestic market, and the import volume in the fourth quarter is uncertain. Currently, soybean oil has a price advantage among the three major domestic oils, and the basis quotes are expected to rebound after the inventory overstock issue is resolved [4]. - **Soybean Meal**: Despite the pressure on spot supply, high Brazilian premiums and the lag in fourth - quarter ship purchases have led some institutions to turn to far - month contracts. Before the Sino - US negotiations next month, the short - term main contract of Dalian soybean meal faces resistance at the 3,000 yuan integer mark. The spot supply of soybean meal is generally loose due to abundant imported soybeans from May to July and accumulated oil - mill inventories [17]. 3. Summary by Relevant Catalogs 3.1. Oil Price and Spread - **Palm Oil Price and Spread**: Palm oil futures prices for different contracts (01, 05, 09) are 8,692 yuan/ton, 8,472 yuan/ton, and 8,708 yuan/ton respectively, with daily changes of - 0.3%, - 0.24%, and - 0.46%. BMD palm oil futures rose 0.96% to 4,186 ringgit/ton. The basis of Guangzhou 24 - degree palm oil is 32 yuan/ton, up 10 yuan [8]. - **Soybean Oil Price and Spread**: Soybean oil futures prices for different contracts (01, 05, 09) are 8,000 yuan/ton, 7,654 yuan/ton, and 8,042 yuan/ton respectively, with daily changes of - 0.13%, - 0.07%, and - 0.03%. CBOT soybean oil futures rose 0.76% to 54.36 cents/pound. The basis of Shandong first - grade soybean oil is 88 yuan/ton, up 12 yuan [13]. - **Oil Inter - monthly and Inter - variety Spreads**: Various spreads such as P 1 - 5, Y - P 01, etc. are provided, with different price changes and percentage changes. For example, P 1 - 5 is 226 yuan/ton, up 16 yuan; Y - P 01 is - 758 yuan/ton, down 76 yuan [5]. 3.2. Oilseed Futures Price and Spread - **Oilseed Futures Price**: Futures prices of soybean meal (01, 05, 09) are 3,011, 2,700, and 2,977 respectively, with daily changes of - 4, - 2, and - 1. Futures prices of rapeseed meal (01, 05, 09) are 2,309, 2,300, and 2,653 respectively, with daily changes of - 3, - 1, and - 2. CBOT soybeans closed at 1,002.5, unchanged [18]. - **Soybean Meal and Rapeseed Meal Spread**: Spreads such as M01 - 05, RM01 - 05, etc. are provided, with different price changes. For example, M01 - 05 is 313, down 5; RM01 - 05 is 11, up 13 [19].

Report Industry Investment Rating - Not provided Core Viewpoints of the Report - International crude oil prices gap down due to OPEC+ exceeding market expectations with its August production increase plan, affecting biofuel raw materials and causing a decline in CBOT soybean and soybean oil futures. Malaysian palm oil exports increased and production declined in June, with inventory expected to slightly decrease, but the Malaysian palm oil futures are in a weak oscillation due to the weakening of crude oil and external oils and fats. [6][7] - In the domestic market, soybean oil inventory continues to rise, and it is expected to maintain a weak oscillation in the short - term due to the off - season demand and weakened import cost support. The arrival speed of imported palm oil is accelerating, and the domestic price follows the external market with mainly rigid demand. Rapeseed oil is expected to oscillate within a narrow range as the decline in domestic inventory and the uncertainty of subsequent imports still support the price. [7] Summary According to Relevant Catalogs Macro and Industry News - As of July 2, the 2024/25 soybean harvest in Argentina reached 100%. The BAGE maintained the soybean production forecast at 50.3 million tons, a 15% increase from the five - year average due to ideal weather conditions during the planting season. [2] - As of July 4, 2025, Brazilian 2024/25 soybean sales reached 69.8% of the expected production, compared with 64% at the beginning of June. The sales progress was lower than 77.5% in the same period last year and the five - year average of 82.1%. [2] - In June, with the concentrated arrival of imported soybeans and strong downstream demand, the domestic major oil mills' soybean crushing volume reached 1.011 billion tons, a record high. It is expected that the oil mills will maintain a high operating rate in July, with a crushing volume of about 950 million tons. [2] - From June 28 to July 4, the actual soybean crushing volume of oil mills was 2.3322 million tons, with an operating rate of 65.56%, 53,500 tons higher than expected. The operating rate of domestic oil mills is expected to rise slightly from July 5 to July 11. [3] Fundamental Data Charts - Not provided Views and Strategies - Internationally, the increase in OPEC+ production in August exceeds market expectations, causing international crude oil prices to gap down, which affects biofuel raw materials and leads to a decline in CBOT soybean and soybean oil futures. The Malaysian palm oil futures are in a weak oscillation. [6][7] - Domestically, soybean oil is expected to maintain a weak oscillation, palm oil prices follow the external market, and rapeseed oil is expected to oscillate within a narrow range. [7]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - A commodity research institution estimates Canada's rapeseed production in the 2025/26 season to be 1,800 million tons, with an estimated range of 1,720 - 1,890 million tons, remaining unchanged from the previous estimate. However, the continuous dry conditions in Manitoba need to be closely monitored as they pose a risk to yield potential [1]. - Malaysia has lowered the reference price of crude palm oil for a certain month, resulting in a reduction of the export tax to 8.5%. The reference price for a previous month was RM3,926.59 per ton with a 9.5% tariff, while the current month's reference price is RM3,730.48 per ton [1]. - Malaysia's crude palm oil production from the 1st - 20th of a month decreased by 4.55% month - on - month. The production in the Malay Peninsula increased by 0.25%, while that in Sabah decreased by 13.27%, Sarawak decreased by 4.56%, and East Malaysia decreased by 11.06% [1]. - Malaysia's palm oil product exports from the 1st - 25th of a month reached 1,134,230 tons, a 6.8% increase compared to the same period last month [1]. 3. Summary by Related Catalogs Canada Rapeseed - The estimated production of Canadian rapeseed in the 2025/26 season is 1,800 million tons, with an estimated range of 1,720 - 1,890 million tons, unchanged from the previous estimate [1]. - Manitoba has a precipitation gap of about 30 mm in the past two weeks, and the precipitation gap in Saskatchewan and Manitoba is expected to reach 24 mm in the next 10 days, which poses a risk to yield potential [1]. Malaysian Palm Oil - Malaysia has lowered the reference price of crude palm oil, reducing the export tax to 8.5%. The reference price for a certain month is RM3,730.48 per ton [1]. - Malaysia's crude palm oil production from the 1st - 20th of a month decreased by 4.55% month - on - month, with different trends in different regions [1]. - Malaysia's palm oil product exports from the 1st - 25th of a month increased by 6.8% compared to the same period last month [1]. Price Information - 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 19 - 25, 2025, are provided, showing a general downward trend [1].

Report Industry Investment Rating - Not provided Core Viewpoints - Protein meal: Night trading of soybean and rapeseed meal showed a strong and volatile trend. The improvement of Sino - US relations boosts the export prospects of US soybeans, providing overall support for US soybean futures prices. Domestically, the recent significant increase in the operation rate of domestic oil mills is expected to accelerate the inventory accumulation of soybean meal. Affected by the recent strength of US soybeans, Dalian soybean meal is expected to show a strong and volatile trend in the short term [2] - Oils: Night trading of soybean and palm oil showed a weak and volatile trend, while rapeseed oil closed higher. The Sino - US easing signal boosts the performance of soybean oil. The domestic soybean - related supply is gradually recovering with the increase in soybean arrivals, and soybean oil is expected to gradually accumulate inventory in the later period. The May Malaysian palm oil supply - demand data has a neutral impact on the market, and oils are expected to maintain a volatile trend [2] Summary by Relevant Catalogs Domestic Futures Market - Prices: The previous day's closing prices of domestic futures for soybean oil, palm oil, rapeseed oil, soybean meal, rapeseed meal, and peanuts were 7694, 7970, 9149, 3047, 2557, and 8844 respectively, with price changes of - 64, - 146, - 39, 16, 11, and 26, and price change rates of - 0.82%, - 1.80%, - 3.15%, 0.53%, 0.43%, and 0.29% respectively [1] - Spreads and Ratios: There were changes in spreads and ratios such as Y9 - 1, P9 - 1, OI9 - 1, etc. For example, the current value of Y9 - 1 was 50, and the previous value was 60 [1] International Futures Market - Prices: The previous day's closing prices of international futures for BMD palm oil, CBOT soybeans, CBOT US soybean oil, and CBOT US soybean meal were 3876 (ringgit/ton), 1050 (cents/bushel), 48 (cents/pound), and 294 (dollars/ton) respectively, with price changes of - 44, - 8, 0, - 2, and price change rates of - 1.12%, - 0.76%, 0.57%, - 0.54% respectively [1] Domestic Spot Market - Prices: The current spot prices of Tianjin first - grade soybean oil, Guangzhou first - grade soybean oil, Zhangjiagang 24° palm oil, etc. had different price change rates. For example, the price change rate of Tianjin first - grade soybean oil was - 1.00% [1] - Basis: The current spot basis of Tianjin first - grade soybean oil, Zhangjiagang 24° palm oil, etc. were 266, 480 respectively [1] - Spreads: The current spot spreads of Guangzhou first - grade soybean oil and 24° palm oil, Zhangjiagang third - grade rapeseed oil and first - grade soybean oil, etc. had changes compared with the previous values [1] Import and Crushing Profit - The current values of import and crushing profit for near - month Malaysian palm oil, near - month US Gulf soybeans, etc. were - 648, - 121, etc., showing changes compared with the previous values [1] Warehouse Receipts - The current values of warehouse receipts for soybean oil, palm oil, rapeseed oil, etc. were 17,652, 340, 0 respectively, with some changes compared with the previous values [1] Industry Information - As of the week ending June 4, Argentine farmers sold 175.79 million tons of soybeans in the 2024/2025 season, with cumulative sales reaching 1963.45 million tons. Local oil mills purchased 128.1 million tons, and the export industry purchased 47.69 million tons [2] - From June 1 - 10, 2025, the yield per unit of Malaysian palm oil decreased by 16.71%, the oil extraction rate decreased by 0.1%, and the output decreased by 17.24% [2] - As of June 8, the US soybean sowing was 90% complete, with a good - to - excellent rate of 68% [2]