Core Viewpoint - The article discusses the recent adjustments made by the Dalian Commodity Exchange to the trading contracts for soybean oil and palm oil, highlighting the impact of rising energy prices and the shift in biofuel policies globally, particularly in Indonesia and the United States [1][3]. Group 1: Dalian Commodity Exchange Adjustments - On March 31, the Dalian Commodity Exchange modified the minimum price fluctuation for soybean oil and palm oil contracts from 2 yuan/ton to 1 yuan/ton, enhancing pricing precision and facilitating market operations [1][3]. - The changes will take effect from April 10, 2026, following approval from the exchange's board [3]. Group 2: Global Biofuel Policy Shifts - High oil prices have prompted countries to reassess their biofuel policies, transitioning from a focus on carbon reduction to energy security [3]. - Indonesia plans to increase its biodiesel blending ratio from 40% to 50% this year, while the U.S. Environmental Protection Agency (EPA) aims to raise biodiesel blending to 5.61 billion gallons, a 67% year-on-year increase [1][6][9]. Group 3: Price Movements and Market Dynamics - Brent crude oil prices surged over 47% in the past month, with palm oil prices rising 18% and U.S. soybean oil increasing over 10% [1]. - The price of Malaysian palm oil futures rose 18% in March, reaching a two-year high, driven by increased demand for biodiesel [6]. Group 4: U.S. Soybean Oil Demand - The EPA's new renewable fuel standards will significantly boost the demand for soybean oil, with projections indicating a 60% increase in biodiesel and renewable diesel quotas compared to 2025 [9][10]. - The value of soybean oil used for biofuel production in the U.S. is expected to reach $31 billion by 2026, a $2 billion increase from 2025 [9]. Group 5: Market Sentiment and Investor Behavior - The price of soybean oil for May delivery has risen to $0.70 per pound, with a monthly increase of over 10% and a year-to-date increase exceeding 40% [11]. - Investor sentiment towards soybean oil is at its highest in nearly a decade, with net long positions reaching the largest scale since 2016 [11].

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The short - term price of soybean meal futures may stop falling and rebound following the US soybean futures price, and the market focus will shift to the spring sowing weather theme [5]. - The short - term price of palm oil futures will follow the external market to strengthen, but its trend is weaker than that of the international market [7]. 3. Summary by Variety Soybean Meal (M) - **Price Trend**: Short - term: stop falling and rebound; Medium - term: oscillate; Intraday: oscillate strongly [5][6]. - **Core Logic**: On March 31, the USDA report showed that the estimated soybean planting area in the US in 2026 was 84.7 million acres, higher than last year's 81.215 million acres but lower than the analysts' average expectation of 85.549 million acres, which drove speculative funds to enter the market to go long. The quarterly inventory report showed that the US soybean inventory on March 1 was 2.105 billion bushels, higher than the same period last year and market expectations, indicating an overall abundant supply. The lower - than - expected planting area and cost structure changes support the short - term strengthening of US soybeans, but high inventory and the global supply - abundant pattern limit the upside space. The US soybean futures price oscillating strongly provides import cost support for the domestic soybean market [5]. Palm Oil (P) - **Price Trend**: Short - term: follow the external market to strengthen; Medium - term: oscillate; Intraday: oscillate strongly [7]. - **Core Logic**: Geopolitical risks have pushed up crude oil prices, providing cost support and financial attribute premium for palm oil. The expectation of Indonesia's B50 policy and the optimistic outlook of the US Renewable Fuel Standard constitute long - term demand benefits, boosting market sentiment. However, the domestic fundamentals form a significant drag. Although the arrival volume of palm oil has decreased, its commercial inventory has reached a record high in the same period. High spot prices have suppressed the demand of terminal catering and food processing, and market transactions have been light [7].

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Palm oil shows a short - term strong performance stimulated by B50 news [2][4] - Soybean oil is boosted by the sentiment of the soybean sector due to the lower - than - expected sowing area [2][4] - The USDA area report for soybean meal is bullish, and the futures market may rebound [2][13] - The spot price of soybean is stable, and the futures market rebounds and fluctuates [2][13] - Corn runs in a volatile manner [2][16] - Sugar oscillates within a range [2][20] - Attention should be paid to the domestic new - crop cotton planting [2][23] - Wait for opportunities to short eggs at high prices in the far - month contracts [2][27] - The market has recognized the L - bottom expectation for pigs, and the price center continues to move down [2][30] - Pay attention to peanut purchases by oil mills [2][34] Summary by Related Catalogs Palm Oil and Soybean Oil - **Fundamental Data**: Palm oil's day - session closing price is 9,866 yuan/ton with a - 0.64% change, and night - session closing price is 10,094 yuan/ton with a 2.31% change; soybean oil's day - session closing price is 8,668 yuan/ton with a - 0.53% change, and night - session closing price is 8,768 yuan/ton with a 1.15% change [5] - **Macro and Industry News**: Indonesia will implement the B50 biofuel policy from July 1st; the 2026 US soybean planting area is 84.7 million acres, lower than the Reuters' expectation of 85.549 million acres [6][7] - **Trend Intensity**: Palm oil trend intensity is 1, soybean oil trend intensity is 0 [12] Soybean Meal and Soybean - **Fundamental Data**: DCE soybean 2605's day - session closing price is 4,641 yuan/ton with a +74 (+1.62%) change, and night - session closing price is 4,639 yuan/ton with a +27 (+0.59%) change; DCE soybean meal 2605's day - session closing price is 2,915 yuan/ton with a - 22 (-0.75%) change, and night - session closing price is 2,913 yuan/ton with a - 6 (-0.21%) change [13] - **Macro and Industry News**: On March 31st, CBOT soybean futures closed higher as the sowing area was lower than market expectations [15] - **Trend Intensity**: Soybean meal trend intensity is +1, soybean trend intensity is 0 [15] Corn - **Fundamental Data**: The closing price of C2605 is 2,351 yuan/ton with a - 0.25% change, and the night - session closing price is 2,364 yuan/ton with a 0.55% change; the closing price of C2607 is 2,368 yuan/ton with a - 0.29% change, and the night - session closing price is 2,378 yuan/ton with a 0.42% change [17] - **Macro and Industry News**: The price of northern corn shipped in bulk to ports decreased by 10 yuan/ton, and the price of corn in Northeast China and North China was stable with a slight decline [18] - **Trend Intensity**: Corn trend intensity is 0 [18] Sugar - **Fundamental Data**: The raw sugar price is 15.52 cents/pound with a - 0.02 change; the mainstream spot price is 5,430 yuan/ton with a - 30 change; the futures main - contract price is 5,398 yuan/ton with a - 43 change [20] - **Macro and Industry News**: As of March 15th, the sugar production in the 25/26 season in India increased by 10% year - on - year; from January to February in China, the cumulative sugar imports were 520,000 tons (+440,000 tons) [20] - **Trend Intensity**: Sugar trend intensity is 0 [22] Cotton - **Fundamental Data**: The closing price of CF2605 is 15,295 yuan/ton with a - 0.58% change, and the night - session closing price is 15,510 yuan/ton with a 1.41% change; the closing price of CY2605 is 21,545 yuan/ton with a 0.14% change, and the night - session closing price is 21,750 yuan/ton with a 0.95% change [23] - **Macro and Industry News**: The cotton spot trading was mostly quiet, and the spot basis was generally stable. ICE cotton futures rose first and then fell due to the higher - than - expected US cotton planting area in 2026 [24] - **Trend Intensity**: Cotton trend intensity is 0 [26] Eggs - **Fundamental Data**: The closing price of egg 2604 is 3,200 yuan/500 kg with a - 2.82% change, and the closing price of egg 2605 is 3,440 yuan/500 kg with a - 0.32% change [27] - **Trend Intensity**: Egg trend intensity is 0 [28] Pigs - **Fundamental Data**: The Henan spot price is 9,380 yuan/ton, the Sichuan spot price is 9,200 yuan/ton, and the Guangdong spot price is 10,160 yuan/ton; the price of live - hog 2605 is 9,770 yuan/ton with a - 235 change year - on - year [31] - **Trend Intensity**: Pig trend intensity is - 1 [32] Peanuts - **Fundamental Data**: The price of Liaoning 308 general peanuts is 9,000 yuan/ton, the price of Henan Baisha general peanuts is 7,500 yuan/ton; the closing price of PK604 is 8,070 yuan/ton with a 0.07% change, and the closing price of PK605 is 8,086 yuan/ton with a 0.02% change [34] - **Spot Market Focus**: In Henan, the mainstream peanut prices were stable with a slight decline in some areas; in Jilin, Liaoning, and Shandong, the peanut prices were weak [35] - **Trend Intensity**: Peanut trend intensity is 0 [36]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The South American soybean harvest is progressing well, with Brazil's harvest nearing completion and Argentina's crop quality improving after rainfall, putting pressure on the market. The market is expected to remain volatile in the short term, and spot buyers are advised to actively set prices at lower prices, while paying attention to the release of the estimated planting area of US soybeans at the end of the month [1]. - The US biofuel policy provides medium - to long - term support for soybean oil, but the positive effect is weakened due to market expectations and postponed import restrictions. Indonesia's plan to increase the palm - diesel blend ratio to 50% has led to a sharp rise in palm oil prices, but the implementation still takes time, and crude oil prices are the main factor affecting the implementation schedule [2]. 3. Summary by Related Catalogs Soybean Meal - As of March 27, 2026, the harvest progress of Brazil's 2025/26 soybean crop was 72.99%, up from 65.79% a week ago, lower than 81.31% in the same period last year but close to the five - year average of 73.95%. Rainfall in some parts of Brazil is expected to decrease in the coming days, which will help speed up field operations [1]. - As of the week of March 25, 2026, the rainfall in Argentina's agricultural areas helped improve the soybean crop rating. Currently, 82% of the soybean crops are rated normal to good, up from 78% a week ago and 76% in the same period last year. 85% of the planting areas have suitable to optimal moisture conditions, higher than 79% a week ago and the same as last year. The improvement is mainly due to the better condition of late - sown soybeans. For early - sown soybeans, 41% of the area has entered the maturity stage, and more than 60% in the two major core production areas have entered the maturity stage, and the harvest will be fully carried out in the next few days [1]. Oils - The US Environmental Protection Agency has issued a new rule, increasing the renewable fuel obligation targets in 2026 and 2027 by more than 60% compared to 2025, and raising the proportion of the fuel quota allocated to large refineries from small refineries' exemptions from 50% to 70%, which provides medium - to long - term support for soybean oil, but the positive effect is weakened [2]. - Indonesia's President announced that the palm - diesel blend ratio will be increased from 40% to 50% this year to deal with the energy crisis caused by the Middle East situation, leading to a sharp rise in palm oil and Malaysian palm oil prices. However, the implementation of Indonesia's B50 still takes time, and crude oil prices are the main factor affecting the implementation schedule [2].

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoint of the Report The overall view of US soybeans is that there is no basis for a bull market due to a bumper harvest in South America, but demand is expected to improve, limiting the downside. The market is expected to be generally volatile and slightly bullish, with a trading range of 1050 - 1250 cents per bushel [5]. 3. Summary by Relevant Catalogs 3.1 Market Conditions - This week, the price of US soybeans fluctuated sideways, with a weekly decline of 2 cents per bushel to 1159.25 cents per bushel. US soybean oil prices rose, while US soybean meal prices fell [1]. - As of March 21, the soybean harvest progress in Brazil was 67.7%, slower than 76.1% in the same period last year but slightly faster than the five - year average. Future weather in Brazil and Argentina is generally favorable for soybean growth and harvest [2]. 3.2 Market Concerns - The situation of mutual visits between Chinese and US leaders: Trump's visit to China has been postponed, but if the Middle East situation eases, another visit is expected [3]. - The transmission of rising crude oil prices to planting: It will directly increase the costs of fertilizers, pesticides, and fuel. If all prices increase by 30%, the cost of US soybeans will increase by about 70 cents, and that of Brazilian soybeans will increase by 102 cents. Higher fertilizer prices may also prompt some farmers to switch from corn to soybeans [3]. - The release rhythm of South American supply pressure: As the harvest in Brazil accelerates and precipitation in Argentina improves, the supply pressure of spot soybeans will increase [3]. 3.3 Overall View and Long - Short Logic of US Soybeans - **Overall view**: There is no basis for a bull market due to a bumper harvest in South America, but demand is expected to improve, limiting the downside. The market is generally volatile and slightly bullish, with a trading range of 1050 - 1250 cents per bushel [5]. - **Short - side logic**: After China purchases US soybeans, the Trump administration's support for the biodiesel addition policy may weaken; the harvest progress in Brazil is accelerating, and the shipping speed has basically returned to normal, resulting in high global spot pressure; the weather in Argentina has improved, and the previously damaged yield per unit area is expected to recover [5]. - **Long - side logic**: If Trump visits China, China is expected to purchase an additional 8 million tons of soybeans in the current crop year; the US biodiesel policy is beneficial to soybean consumption; rising crude oil prices support costs [5]. 3.4 Futures and Spot Market Prices - As of March 27, 2026, the price of the continuous US soybean futures contract fell 2 cents per bushel to 1159.25 cents per bushel; the continuous US soybean meal futures contract fell 12.7 dollars per short ton to 315.3 dollars per short ton; the continuous US soybean oil futures contract rose 1.9 cents per pound to 67.41 cents per pound [5]. - As of March 26, 2026, the spot soybean purchase price in Illinois rose 3.25 cents per bushel to 1166.25 cents per bushel compared with the previous week; the soybean quotation at the US Gulf port rose 8.75 cents per bushel to 1240.75 cents per bushel compared with the previous week [6]. - As of March 26, 2026, the spot price of soybeans in the inland region of Mato Grosso, Brazil, rose 2.62 reais per bag to 103.37 reais per bag compared with the previous week; the spot price at the Paranagua port rose 0.63 reais per bag to 130.01 reais per bag compared with the previous week [6]. - As of March 25, 2026, the FOB price of Argentine soybeans for May shipment rose 6 dollars per ton to 418 dollars per ton; the price for June shipment rose 4 dollars per ton to 418 dollars per ton [6]. 3.5 Main Producing Area Weather Conditions - In Brazil, precipitation in the next week will be mainly concentrated in the northern and western regions, with slightly less precipitation in the central and southern regions. In the next two weeks, precipitation will be mainly concentrated in the northern and western regions. Overall, the precipitation in the next two weeks is favorable for soybean harvest and transportation [20]. - In Argentina, precipitation in the Buenos Aires and Cordoba regions in the next two weeks will be good for soybean growth, while precipitation in the central and northern regions will be slightly less. Overall, the weather for the final growth of soybeans is acceptable, and the average yield per unit area is expected to recover to some extent [20]. 3.6 US Soybean Demand - As of the week of March 20, 2026, the US soybean export inspection and quarantine volume was 1.3442 million tons, compared with 0.9065 million tons in the previous week; the net sales in the current crop year were 0.6689 million tons, compared with 0.2982 million tons in the previous week; the net sales in the next crop year were 27,000 tons, compared with 6,600 tons in the previous week; the shipment to China was 0.6649 million tons, compared with 0.5458 million tons in the previous week. Of the 12 million tons of US soybeans purchased by China, 8.5241 million tons have been shipped, and 3.47 million tons remain unshipped [39]. - The domestic soybean crushing volume in the US in February was 208.78 million bushels, the highest level for the same period in history, indicating strong domestic demand [39]. 3.7 CFTC Positions and Planting Costs - As of March 25, 2026, the net long positions of funds in soybean futures and options were 203,200 contracts, a decrease of 10,500 contracts from the previous week; the net long positions in soybean oil futures and options were 117,100 contracts, a decrease of 1,200 contracts from the previous week; the net long positions in soybean meal futures and options were 107,900 contracts, an increase of 24,000 contracts from the previous week [44]. - In terms of planting costs, the cost in the US remains high, while the cost in Brazil is lower than that in the US but has also increased compared with the previous year. Before the rise in crude oil prices, the estimated planting cost in the US was 1200 - 1250 cents per bushel, and in Brazil, it was 950 - 1000 cents per bushel. If calculated based on the current energy cost, it is expected to increase by 5 - 10% on this basis [44].

Report Summary 1. Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - For soybeans, the recovery of Brazilian shipments eases concerns about near - month arrivals, and the acceleration of soybean harvesting in Brazil and improved conditions in Argentina may lead to a narrowing of near - month crushing margins if arrivals are normal and state reserves are released, but the decline space is limited due to high import costs [2] - For oils, short - term oil prices are expected to fluctuate at high levels, and the policy - driven benefits from countries like Indonesia, the US, and Brazil may be realized as crude oil prices remain high. Attention should be paid to changes in the Middle East situation around the end of the month [3] 3. Summary by Related Content Soybean and Soybean Meal - As of March 20, 2026, the harvest progress of 2025/26 Brazilian soybeans was 65.79%, lower than 73.84% in the same period last year and slightly lower than the five - year average of 66.96% [1] - As of the week of March 18, 78% of Argentine soybeans were rated normal to good, with 79% of planting areas having suitable to optimal moisture conditions, which improved due to rainfall in some regions [1] - As of March 20, the total planned shipment of Brazilian soybeans to China from various ports was 8.538009 billion tons, slightly lower than last week but at a record high for the same period in recent years. The total shipment from Brazilian ports to China in March was 6.535711 billion tons, an increase of 2.624315 billion tons from last week [2] Oils - Brazilian biodiesel producers have the capacity to support a 20% blending ratio, and the association calls on the government to allow a higher blending ratio than the legal 15% to buffer energy shocks [2] - Before the policy release, the price of soybean oil futures has risen by 7% since the end of February, and the price of waste cooking oil has soared by more than 14% to 73 cents per pound [3] - Indonesia's B50, the US's new biofuel policy, and Brazil's B20 are all in preparation, and policy - driven benefits may be realized as crude oil prices remain high [3]

Report Industry Investment Rating - Not provided Core Viewpoints - The supply of soybeans in April has shifted from loose to slightly tight, and soybean meal has fallen from its high but still has some support below. Attention should be paid to subsequent soybean reserve release announcements [2] - It is estimated that edible oils will fluctuate at a high level in the short term, and attention should be paid to changes in the Middle - East situation around the end of the month [3] Summary by Related Content Soybean Meal - Abiove expects Brazil's soybean production in the 2025/26 season to reach 177.85 million tons, up from the previous estimate of 177.12 million tons; exports in 2026 to be 111.5 million tons, the same as the previous estimate; the crushing volume in 2026 to reach a record 61.5 million tons, higher than the previous estimate of 61 million tons; soybean meal production in 2026 to be 47.4 million tons, up from the previous estimate of 47 million tons; and soybean oil production to be 12.35 million tons, up from the previous estimate of 12.25 million tons [1] - As of March 11, 2026, Argentine farmers pre - sold 7.52 million tons of 2025/26 season soybeans, compared with 7.45 million tons in the same period last year. They also sold 44.27 million tons of 2024/25 season soybeans, compared with 39.22 million tons in the same period last year. Last week, they sold 170,000 tons [1] - Brazil temporarily cancelled a quarantine measure, allowing soybean shipments to resume normal. However, due to previous shipping delays, some April soybean shipments to China were postponed to May, and the April soybean supply has become slightly tight. Trump postponed his visit to China, and US soybean demand has weakened, causing soybean meal to fall from its high [2] Edible Oils - Abiove believes that the Brazilian government should allow a higher proportion of biodiesel to be mixed in regular diesel to deal with the energy price crisis caused by the US - Israel - Iran war. Brazilian biodiesel producers are ready to support a 20% mixing ratio (B20) [2] - According to AmSpec, Malaysia's palm oil exports from March 1 - 20, 2026 were 1,166,586 tons, a 49.6% increase compared to the same period last month [2] - With the sharp rise in crude oil prices, major bio - fuel producing countries are taking action. Policies such as Indonesia's B50, the US's new bio - fuel policy, and Brazil's B20 are in the works. Policy - related benefits may gradually materialize as crude oil prices remain high [3]

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Views - The Brazilian truck drivers' strike may affect the transportation of soybeans and other agricultural products, and the adjustment tendency of soybean production in South America is neutral to downward [1]. - The supply of soybeans in April has changed from loose to slightly tight, the price of soybean meal has fallen from a high level but still has certain support, and attention should be paid to the subsequent soybean reserve release announcement [2]. - The short - term price of palm oil is expected to remain above 4,450 ringgit per ton, but global economic growth and geopolitical uncertainties may limit its upward space [2]. - In the short - term, the price of oils is expected to fluctuate at a high level, and attention should be paid to the changes in the Middle East situation around the end of the month [3]. 3. Summaries by Related Content Soybean and Soybean Meal - The 2025/26 annual soybean production forecast for Brazil remains at 178 million tons, and for Argentina at 47 million tons, with a neutral to downward adjustment tendency [1]. - In the week of March 8 - 14, 2026, Brazil exported 3,011,011 tons of soybeans, 377,388 tons of soybean meal, and 235,161 tons of corn. In the week of March 15 - 21, it plans to export 4,325,555 tons of soybeans, 729,810 tons of soybean meal, and 180,852 tons of corn [1]. - Due to the delay in shipment, some April soybean ships are postponed to May, and the supply of soybeans in April has changed from loose to slightly tight [2]. Palm Oil - From March 1 - 15, 2026, the yield per unit area of Malaysian palm oil decreased by 2.96% month - on - month, the oil extraction rate decreased by 0.44% month - on - month, and the output decreased by 5.28% month - on - month [2]. - The recent price of palm oil is expected to remain above 4,450 ringgit per ton, influenced by high energy prices and the favorable palm oil - gasoline price difference, but global economic and geopolitical factors may limit its rise [2]. Oils - Policy - related benefits in the bio - fuel field may be gradually realized with the high price of crude oil, and the short - term price of oils is expected to fluctuate at a high level, requiring attention to the Middle East situation around the end of the month [3].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report - Brazilian soybean exports in March 2026 are slower than last year, while the average export price has increased; the supply of soybeans in April has shifted from loose to slightly tight, and the price of soybean meal has fallen from a high level but still has some support below. [1][2] - If crude oil prices remain above $100 per barrel, Indonesia may accelerate the implementation of its B50 plan, and palm oil prices have room to rise further; it is estimated that the average price of Malaysian crude palm oil in 2026 is 4,100 ringgit per ton. [2] - In the context of high - oil prices, the policy benefits of biofuels in Indonesia and the United States may be gradually realized; it is expected that the prices of edible oils will fluctuate at a high level in the short term, and attention should be paid to the changes in the Middle East situation around the end of the month. [3] 3. Content Summary by Related Catalogs Soybean Meal - Brazil's Ministry of Agriculture (MAPA) has updated the phytosanitary certification procedures for grain shipments to China, with samples mainly collected by independent supervision companies. MAPA inspectors will still sample 1 in every 10 ships. The new rule takes effect immediately for unsampled goods. [1] - From March 1 - 13, 2026, Brazilian soybean exports were 6.507 million tons, and the average daily export volume decreased by 15.6% year - on - year. The average export price per ton increased by 5.4% year - on - year. [1] - Brazil temporarily cancelled a quarantine measure, but the arrival of soybean ships in April was postponed to May, and the soybean supply in April shifted from loose to slightly tight. Trump postponed his visit to China, and the demand for US soybeans weakened, causing soybean meal prices to fall from a high level, with some support below. Attention should be paid to subsequent soybean reserve release announcements. [2] Edible Oils - If crude oil prices remain above $100 per barrel and the Strait of Hormuz is blocked, Indonesia may accelerate the implementation of B50 to save foreign exchange. The average price of Malaysian crude palm oil in 2026 is predicted to be 4,100 ringgit per ton, and there is room for further price increases if B50 is implemented. [2] - From March 1 - 15, 2026, the estimated export volume of Malaysian palm oil was 443,812 tons, an increase of 12.68% compared with the same period last month. [2] - High crude oil prices make biofuel - producing countries eager to implement policies, and the policy benefits may be realized as oil prices remain high. It is estimated that edible oils will fluctuate at a high level in the short term, and attention should be paid to the Middle East situation around the end of the month. [3]

1. Report Industry Investment Ratings No information about industry investment ratings is provided in the report. 2. Core Views of the Report - Palm oil: There are frequent speculation themes, and it still has a short - term strong tendency [2]. - Soybean oil: The driving force of the soybean system is limited, and attention should be paid to the progress of Sino - US consultations [2]. - Soybean meal: Market sentiment has recovered, and Dalian soybean meal may fluctuate [2]. - Soybean: The spot price in the producing area is stable, and the futures price may fluctuate [2]. - Corn: It will run in a fluctuating manner [2]. - Sugar: Raw sugar is strengthening, and it will fluctuate with an upward bias [2]. - Cotton: There is a phased situation of strong overseas and weak domestic markets [2]. - Eggs: It will fluctuate within a range [2]. - Pigs: Inventory reduction and weight loss will start, and the duration may exceed expectations [2]. - Peanuts: Attention should be paid to the macro - impact [2]. 3. Summaries According to Relevant Catalogs Palm Oil and Soybean Oil - **Fundamentals**: Palm oil futures prices declined, with the day - session closing price at 9,954 yuan/ton (down 0.56%) and the night - session at 9,876 yuan/ton (down 0.78%); soybean oil futures prices also declined, with the day - session closing price at 8,644 yuan/ton (down 0.83%) and the night - session at 8,622 yuan/ton (down 0.25%). Spot prices of palm oil, soybean oil, and rapeseed oil all decreased [4]. - **News**: International companies suspended some Brazilian soybean exports last week, and the slow progress of the Brazilian soybean harvest worried the market about the tightening of China's imported soybean supply from March to April, leading to a significant increase in soybean meal trading volume. The estimated export volume of Malaysian palm oil from March 1 - 15 increased by 12.68% compared with the same period last month. The US is about to implement the bio - fuel blending policy, and the White House may announce the final rules in late March [5][6][7]. - **Trend Intensity**: Palm oil trend intensity is 1; soybean oil trend intensity is 0 [9]. Soybean Meal and Soybean - **Fundamentals**: DCE soybean 2605 closed at 4,935 yuan/ton (up 0.02%) in the day - session and 4,931 yuan/ton (up 0.35%) in the night - session; DCE soybean meal 2605 closed at 3,070 yuan/ton (down 0.42%) in the day - session and 3,056 yuan/ton (up 0.39%) in the night - session. Spot prices of soybean meal in different regions had different changes [11]. - **News**: On March 17, CBOT soybean futures closed higher due to the strengthening of international crude oil futures and the upcoming implementation of the US bio - fuel blending policy. Brazil's soybean export volume in March is expected to be 1.632 billion tons, slightly lower than last week's forecast. Brazilian officials will visit China next week to discuss health and quarantine issues [11][13]. - **Trend Intensity**: Both soybean meal and soybean trend intensities are 0 [13]. Corn - **Fundamentals**: The closing price of C2605 was 2,379 yuan/ton (down 0.42%) in the day - session and 2,385 yuan/ton (up 0.25%) in the night - session; the closing price of C2607 was 2,392 yuan/ton (down 0.37%) in the day - session and 2,394 yuan/ton (up 0.08%) in the night - session. Spot prices in some regions increased [15]. - **News**: The price of northern corn for bulk shipping and container shipping increased by 10 yuan/ton. Northeast corn prices partially rose by 10 - 20 yuan/ton, and North China corn prices fluctuated [16]. - **Trend Intensity**: Corn trend intensity is 0 [16]. Sugar - **Fundamentals**: The raw sugar price was 14.45 cents/pound (up 0.26), the mainstream spot price was 5,440 yuan/ton (down 10), and the futures main - contract price was 5,406 yuan/ton (down 66) [18]. - **News**: As of March 15, the sugar production in the 25/26 sugar - crushing season in India increased by 10% year - on - year. CAOC expects the domestic sugar production in the 25/26 sugar - crushing season to be 1.17 billion tons, and ISO expects a global sugar supply surplus of about 163 million tons in the 25/26 sugar - crushing season [18][19]. - **Trend Intensity**: Sugar trend intensity is 1 [20]. Cotton - **Fundamentals**: CF260 closed at 15,415 yuan/ton (down 0.42%) in the day - session and 15,385 yuan/ton (down 0.19%) in the night - session; CY2605 closed at