Report Industry Investment Rating - The investment view is to mainly adopt a wait - and - see approach, and the industry is currently in a low - volatility oscillation phase with no clear unilateral trend in the short - term [5]. Core View of the Report - The supply situation shows that palm oil is neutral to bearish, soybean oil is bearish, and rapeseed oil is bullish; demand is in a wait - and - see state; inventory has marginal bullish factors; macro and policy aspects are also in a wait - and - see state. Overall, the investment view is to wait and see, and it is recommended to wait or participate through buying options [5]. Summary by Relevant Catalogs PART ONE: Main Views and Strategy Overview - **Supply**: Palm oil in Indonesia and Malaysia has high inventory at the origin and low domestic purchases; soybean oil mill crushing volume increases; rapeseed oil crushing and imports both decrease [5]. - **Demand**: In the origin, Indonesia's B50 is being actively promoted but has bearish disturbances; the US bio - diesel RVO is undetermined; the domestic peak season is lackluster with lower oil trading volume compared to the same period [5]. - **Inventory**: The total domestic oil inventory is decreasing. Palm oil inventory fluctuates slightly under weak supply and demand. There is an expectation of inventory reduction for soybean oil in the fourth quarter, and rapeseed oil inventory is continuously decreasing due to raw material shortages [5]. - **Macro and Policy**: The meeting between Chinese and US leaders may bring new directions; Indonesia's B50 is in the road test phase and is expected to be implemented in the second half of next year but faces obstacles; the US bio - diesel RVO is uncertain; there is an expectation of improved China - Canada trade relations, which is bearish for rapeseed oil [5]. - **Investment View**: Currently, the oil market is in a low - volatility oscillation phase. There is no clear unilateral trend for now, but factors such as the Malaysian production reduction season, origin bio - diesel policies, and international trade policies may bring new drivers. It is recommended to wait and see or participate through buying options [5]. - **Trading Strategy**: Unilateral: Wait and see; Arbitrage: Go long on far - month oil and short on meal; Risk Focus: Crude oil fluctuations, policy disturbances; Options: Buy volatility of palm oil and soybean oil (collar options) [5]. PART TWO: Market Review - The report presents the closing prices of major oil contracts and the trends of the agricultural product index, as well as price differences such as P1 - 5, Y1 - 5, OI1 - 5, and spot price differences between domestic soybean oil and palm oil [7][9][14]. PART THREE: Oil Supply and Demand Fundamentals - **Southeast Asia Weather**: It shows precipitation and temperature data including past 14 - day precipitation, precipitation anomalies, and future 7 - 14 - day precipitation and temperature forecasts in Southeast Asia [17][19][22]. - **Indonesia's Monthly Supply and Demand**: Data on Indonesia's palm oil production, domestic consumption, export volume, and ending inventory from 2021 - 2025 are provided [31][35]. - **Malaysia's Monthly Supply and Demand**: Data on Malaysia's palm oil production, domestic consumption, export volume, and ending inventory from 2021 - 2025 are presented [36][42]. - **India's Monthly Imports and International Bean - Palm Price Difference**: Information on India's imports of palm oil, soybean oil, and sunflower oil, as well as the price difference between Argentine soybean oil and Malaysian palm oil from 2021 - 2025 is given [43][47]. - **Domestic Palm Oil Import Profit and Supply and Demand**: Data on China's palm oil import cumulative value, daily trading volume, commercial inventory, import cost price, import hedging profit, and monthly import volume from 2021 - 2025 are shown [49][53]. - **Weather and US Soybean Production Situation**: It includes future 15 - day temperature and precipitation distributions in Brazilian and US soybean - producing areas, US soybean good - to - excellent rate, and harvest progress [61][63][68]. - **US and Brazilian Export Situations**: Data on US soybean cumulative export sales volume, export volume to China, and Brazilian soybean monthly export volume from 2021 - 2026 are provided [74][79]. - **China's Soybean and Soybean Oil Situation**: Information on China's soybean weekly arrival volume, domestic soybean oil production by pressing plants, daily trading volume, and weekly inventory from 2021 - 2025 is presented [89]. - **Rapeseed - Related Situations**: It includes future 15 - day precipitation and temperature distributions in Canadian and European rapeseed - producing areas, soil moisture in Canada, rapeseed FOB prices, Canadian rapeseed weekly export volume, Canadian rapeseed import hedging profit, domestic rapeseed and rapeseed oil expected arrival volume, Chinese rapeseed weekly pressing volume, rapeseed oil production by oil mills, rapeseed oil pick - up volume, and weekly inventory from 2021 - 2025 [90][99][104].

Report Core Views Palm Oil - International Market: Malaysian BMD crude palm oil futures trended weakly due to concerns about potential export growth slowdown and significant production increase. The price may test the support of the 60 - day moving average at 4400 ringgit. With a bearish fundamental outlook and expected substantial month - end inventory growth, there's a risk of breaking below the 60 - day moving average. However, as production enters the decline season in November and the market speculates on Indonesia's B50 policy, the price may stabilize and recover [3]. - Domestic Market: Dalian palm oil futures maintained a weak and volatile trend, dragged down by rising port inventories and the decline of Malaysian palm oil. The price may seek support at the 9000 - yuan mark, with strong support at the annual line of 8900 yuan. After this round of adjustment, it may slowly recover following Malaysian palm oil. The view is that the near - term contracts are weaker than the far - term ones, and attention should be paid to whether it can stop falling in the 8900 - 9000 yuan range [3]. Soybean Oil - The market is currently focused on the results of the China - US negotiations. Domestically, demand is weak, and traders are reluctant to purchase due to concerns about price drops. Although soybean import costs support the market, there are also bearish factors. In the short term, the Dalian soybean oil January contract will fluctuate around 8200 yuan. If CBOT soybeans and soybean oil rise again, it may increase slightly; otherwise, it may fall to 8000 - 8100 yuan [4]. Bean Meal - Spot prices of bean meal increased by 20 - 40 yuan/ton, and near - month basis decreased by 10 - 20 yuan. Some oil mills in North and South China suspended production due to delayed soybean arrivals, and cost inversion boosted the price - holding attitude. However, due to the unclear outcome of China - US trade negotiations, feed enterprises are digesting existing inventories, and traders' enthusiasm for chasing prices is limited [17]. Price Information Oil Price | Variety | Unit | Price | Today's Change | | --- | --- | --- | --- | | P 1 - 5 | yuan/ton | 24 | - 2 | | P 5 - 9 | yuan/ton | 220 | 8 | | P 9 - 1 | yuan/ton | - 244 | - 6 | | Y 1 - 5 | yuan/ton | 166 | - 4 | | Y 5 - 9 | yuan/ton | 92 | - 6 | | Y 9 - 1 | yuan/ton | - 258 | 10 | | OI 1 - 5 | yuan/ton | 389 | 3 | | OI 5 - 9 | yuan/ton | 71 | 13 | | OI 9 - 1 | yuan/ton | - 460 | - 16 | | Y - P 01 | yuan/ton | - 944 | - 18 | | Y - P 05 | yuan/ton | - 1086 | - 16 | | Y - P 09 | yuan/ton | - 958 | - 2 | | Y/M 01 | / | 2.7869 | - 2.4% | | Y/M 05 | / | 2.896 | - 1.54% | | Y/M 09 | / | 2.7487 | - 1.33% | | OI/RM 01 | / | 4.1714 | - 2.14% | | OI/RM 05 | / | 4.0519 | - 1.4% | | OI/RM 09 | / | 3.8529 | - 1.93% | [5] Palm Oil Spot and Futures Price | Variety | Unit | Latest Price | Change Rate (Spread) | | --- | --- | --- | --- | | Palm Oil 01 | yuan/ton | 9122 | - 0.11% | | Palm Oil 05 | yuan/ton | 9104 | - 0.04% | | Palm Oil 09 | yuan/ton | 8858 | - 0.34% | | BMD Palm Oil Main Contract | ringgit/ton | 4442 | - 0.65% | | 24 - degree Palm Oil in Guangzhou | yuan/ton | 9050 | 50 | | 24 - degree Basis in Guangzhou | yuan/ton | - 132 | - 108 | | POGO | US dollars/ton | 461.996 | - 1.168 | | International Soybean - Palm Oil | US dollars/ton | - 3.86 | - 5 | [8] Soybean Oil Spot and Futures Price | Variety | Unit | Latest Price | Change Rate (Spread) | | --- | --- | --- | --- | | Soybean Oil 01 | yuan/ton | 8194 | - 0.17% | | Soybean Oil 05 | yuan/ton | 8016 | - 0.07% | | Soybean Oil 09 | yuan/ton | 7906 | - 0.17% | | CBOT Soybean Oil Main Contract | cents/pound | 50.86 | 1.68% | | Shandong First - grade Soybean Oil Spot | yuan/ton | 8350 | 0 | | Shandong First - grade Soybean Oil Basis | yuan/ton | 162 | - 20 | | BOHO (Weekly) | US dollars/barrel | 46.382 | - 11.2948 | | Domestic First - grade Soybean Oil - 24 - degree Palm Oil | yuan/ton | - 500 | 110 | [14] Oilseed Futures Price | Variety | Closing Price | Today's Change | Change Rate | | --- | --- | --- | --- | | Bean Meal 01 | 2933 | - 5 | - 0.17% | | Bean Meal 05 | 2768 | - 2 | - 0.07% | | Bean Meal 09 | 2880 | - 5 | - 0.17% | | Rapeseed Meal 01 | 2325 | - 14 | - 0.6% | | Rapeseed Meal 05 | 2300 | - 12 | - 0.52% | | Rapeseed Meal 09 | 2401 | - 12 | - 0.5% | | CBOT Yellow Soybeans | 1061.25 | 0 | 0% | | Offshore RMB | 7.125 | - 0.0019 | - 0.03% | [18] Bean and Rapeseed Meal Spread | Spread | Price | Today's Change | Spread | Price | Today's Change | | --- | --- | --- | --- | --- | --- | | M01 - 05 | 168 | 26 | RM01 - 05 | 27 | 19 | | M05 - 09 | - 115 | 3 | RM05 - 09 | - 101 | - 10 | | M09 - 01 | - 53 | - 29 | RM09 - 01 | 74 | - 9 | | Bean Meal Rizhao Spot | 3020 | 40 | Bean Meal Rizhao Basis | 42 | - 33 | | Rapeseed Meal Fujian Spot | 2450 | 0 | Rapeseed Meal Fujian Basis | 111 | - 32 | | Bean and Rapeseed Meal Spot Spread | 530 | 20 | Bean and Rapeseed Meal Futures Spread | 599 | 21 | [19][21]

Group 1 - The core point of the article is that Jingliang Holdings announced the convening of its 24th meeting of the 10th Board of Directors on October 24, 2025, to review the proposal for the third quarter report of 2025 [1] - For the first half of 2025, the revenue composition of Jingliang Holdings is as follows: oil and fat accounted for 91.34%, food manufacturing accounted for 8.45%, and other businesses accounted for 0.21% [1] - As of the time of reporting, the market capitalization of Jingliang Holdings is 4.9 billion yuan [1]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - **Soybean Oil**: The main 01 contract of soybean oil continued to adjust weakly on Thursday. The increase in Malaysian palm oil production data led to a decline in the overall oil and fat market. China's soybean oil inventory is accumulating, with sufficient supply. Although the short - term upward drive of the futures price is insufficient, the expectation is positive. It is not recommended to chase short - selling. The support level of the main contract is 8100 - 8130 yuan/ton, and the pressure level is 8400 - 8450 yuan/ton. Pay attention to the results of recent Sino - US trade negotiations [3]. - **Rapeseed Oil**: The main contract of rapeseed oil fell again. The increase in Malaysian palm oil production and the non - realization of the palm oil production reduction expectation led to a weak adjustment of the futures price, which in turn drove down the rapeseed oil price. China's rapeseed oil inventory is at a relatively high level, and the sentiment of relaxing the import policy of Canadian rapeseeds is rising. However, the short - term import supply of rapeseed is tightening, and the inventory is declining, so the basis remains firm. The main contract continued to reduce positions and volume, and the market sentiment was weak. The market may oscillate and adjust. It is recommended to wait and see in the short term [4]. - **Palm Oil**: The main 01 contract of palm oil adjusted weakly on Thursday. The increase in Malaysian palm oil production led to a decline in the palm oil price, weakening the strong expectation in the fourth quarter. As the palm oil in the producing areas is about to enter the production - reduction season, it is not advisable to chase short - selling. The short - term palm oil may test the support in the 9000 - 9050 range, and the pressure level is 9350 - 9400. It is advisable to wait and see for the time being [4]. - **Soybean No.2 and Soybean Meal**: The main 11 contract of CBOT soybeans remained firm, and the main 01 contract of soybean meal rose. Frequent Sino - US trade negotiations and the expectation of an increase in US soybean exports supported the price of CBOT soybeans. China's domestic inventory of soybean meal is sufficient, and the further downward drive is weakening. It is recommended to wait and see for the time being [5]. - **Rapeseed Meal**: Rapeseed meal stopped falling and rebounded. Affected by weak demand and the easing of Sino - Canadian trade relations, the rapeseed meal market had been weak. However, the cumulative import volume of rapeseeds from January to September decreased by 42.2% year - on - year, and the inventory continued to decline, providing some support for the weak demand. The current fundamentals are weak in both supply and demand, and the futures price is expected to oscillate and adjust. It is recommended to go long on the 01 contract oil - meal ratio [5][6]. - **Corn and Corn Starch**: The futures prices continued to oscillate and consolidate on Thursday. The external market changed little. In the domestic market, the new - season harvest is in the middle and late stages. The continuous rainy weather in North China has brought new differences to the market. The short - term upward space of the futures price is still limited. It is recommended to reduce short positions on dips or pay attention to the reverse spread of the corn 1 - 5 spread [6]. - **Soybean No.1**: The main 01 contract of soybean No.1 rose on Thursday. The high - quality soybeans in Northeast China are in high demand, and due to low valuation, farmers are reluctant to sell. After continuous rises, the long - position holders are cautious, and the selling - hedging drive increases. It is recommended to exit long positions and wait and see [7]. - **Peanuts**: The peanut futures price continued to oscillate and decline. The market lacks positive news. The new - season peanuts are gradually on the market, but the harvest weather is unfavorable, which increases concerns about the new - season output. Although the planting area has increased, the expected increase in production is discounted. There is still pressure from seasonal supply on the spot and futures prices. It is recommended to hold long positions for the time being [7]. - **Pigs**: The futures price of pigs adjusted weakly on Thursday. The spot price stopped falling this week, and the futures price rebounded after reducing positions. The market volatility remained high due to the Sino - US tariff restart negotiation. The current pig - to - grain ratio has fallen below 5. It is recommended to wait and see for the time being for conservative investors. For mid - term investment, wait for the confirmation of capacity reduction and then buy the 2607 contract on dips [8][9]. - **Eggs**: The egg futures price rebounded after reducing positions on Thursday. The spot price was stable with a slight decline this week, and the decline slowed down. The egg futures price has fallen below the historical low since 2016. It is not advisable to chase short - selling. Conservative investors should wait and see, while aggressive investors can buy the 2512 contract on dips when the price is below the farmers' cash cost [9]. 3. Summary According to the Directory 3.1 First Part: Sector Strategy Recommendations 3.1.1 Market Analysis - Most varieties in the feed, breeding, and oil and fat industries are expected to oscillate and adjust. For example, soybean No.1, soybean No.2, peanuts, soybean oil, rapeseed oil, palm oil, soybean meal, and rapeseed meal are all in an oscillating adjustment state. Corn and corn starch are expected to be in a low - level oscillation. Pigs and eggs are in an oscillating bottom - seeking state [12]. 3.1.2 Commodity Arbitrage - **Inter - period Arbitrage**: For most varieties, it is recommended to wait and see, such as soybean No.1 11 - 1, soybean No.2 11 - 1, etc. For the corn 5 - 1 spread, it is recommended to go long on dips with a reference target of 180 - 200. For the pig 1 - 3 spread, it is recommended to do a positive spread on dips [13]. - **Inter - variety Arbitrage**: For some spreads, such as 01 soybean oil - palm oil, it is recommended to operate bearishly; for 01 rapeseed oil - soybean oil, it is recommended to operate bullishly; for the 01 contract oil - meal ratio of beans and rapeseeds, it is recommended to operate bullishly [13]. 3.1.3 Basis and Spot - Futures Strategies - The report provides the spot prices, price changes, and basis changes of various varieties in different sectors, including soybeans, rapeseed, palm oil, etc. For example, the spot price of soybean No.1 is 3980 yuan/ton, and the basis of the main contract is - 133 yuan/ton [14]. 3.2 Second Part: Key Data Tracking Table 3.2.1 Oilseeds and Oils - **Daily Data**: It shows the import cost data of soybeans, rapeseeds, and palm oil from different origins and shipping periods, including CNF prices, import duty - paid prices, and the cost of soybean meal when the profit is zero [15][16]. - **Weekly Data**: It presents the inventory and operating rates of various oilseeds and oils. For example, the port inventory of soybeans is 773.35 (with a change of 21.92), and the operating rate of soybean processing plants is 58.00% [17]. 3.2.2 Feed - **Daily Data**: It provides the import cost data of corn from Argentina and Brazil in different months [18]. - **Weekly Data**: It shows the consumption, inventory, operating rate, and inventory of corn and corn starch in deep - processing enterprises [18]. 3.2.3 Breeding - It includes the daily and weekly data of pigs and eggs, such as the price, weight, and profit of pigs, as well as the price, production rate, and inventory of eggs [19][20][21][23]. 3.3 Third Part: Fundamental Tracking Charts - The report provides a series of charts to track the fundamentals of the breeding, oilseeds and oils, and feed sectors, including the closing prices of futures contracts, spot prices, basis, spreads, production, export, inventory, and other data of various varieties [24][35][52]. 3.4 Fourth Part: Options Situation of Feed, Breeding, and Oils - The report shows the historical volatility of futures prices of varieties such as rapeseed meal, rapeseed oil, soybean oil, palm oil, and peanuts, as well as the trading volume, open interest, and put - call ratio of corn options [86][87][88]. 3.5 Fifth Part: Warehouse Receipt Situation of Feed, Breeding, and Oils - It presents the warehouse receipt quantities of various varieties, including rapeseed meal, rapeseed oil, soybean oil, palm oil, peanuts, corn, corn starch, pigs, and eggs, as well as the open interest of the pig and egg indexes [91][92][94].

Core Viewpoint - On October 23, the Dalian Commodity Exchange released data on oilseed and oil warehouse receipts, indicating stable inventory levels across various commodities [1] Group 1: Warehouse Receipts Data - Palm oil futures warehouse receipts stood at 600 contracts, unchanged from the previous period [1] - Soybean oil futures warehouse receipts totaled 26,294 contracts, also remaining flat [1] - Soybean meal futures warehouse receipts reached 42,582 contracts, with no change compared to the last report [1] - First soybean futures warehouse receipts were at 7,090 contracts, consistent with previous data [1] - Second soybean futures warehouse receipts were recorded at 100 contracts, showing no variation [1]

| | 1、巴西植物油行业协会Abiove预测该国2025/26年度大豆产量将达到创纪录的1.785亿吨，高于 | | --- | --- | | | 去年的1.718亿吨。2、印尼能源部长Bahlil Lahadalia表示，印尼2025年1-9月生物柴油消费量 | | 行业 | 为1057万公升，较去年同期的961万公升增加近10%。3、据马来西亚棕榈油协会（MPOA）发布的数 | | 信息 | 据，马来西亚10月1-20日棕榈油产量预估增加10.77%，其中马来半岛增加4.54%，沙巴增加 | | | 21.99%，沙捞越增加16.69%，婆罗洲增加20.45%。 | | | 蛋白粕：夜盘豆菜粕震荡收涨，最新出口检验报告显示，截至2025年10月16日的一周，美国大豆 | | | 出口检验量为1,474,354吨，高于市场预期区间，较一周增长45%。巴西新季大豆播种有序推进， | | | 根据AgRural数据截至上周四，巴西2025/26年度大豆种植率达到24%，高于前一周的14%和去年同 | | | 期的18%。近期市场对于中美贸易关系缓和预期升温，受此提振美豆期价有所回暖。国内方面，市 | | | ...

专题报告 2025-10-23 斯小伟 农产品分析师 从业资格号：F03114441 交易咨询号：Z0022498 028-86133280 sxwei@wkqh.cn 油脂：暂时观望，跟踪产量信息 报告要点： 马来、印尼棕榈油产量超预期压制棕榈油行情表现，特别是印尼若维持当前高产量，10、11 月高产季节产地或共累库 110-170 万吨，但在 12 月至次年 4 月的减产季节，产地或将去库 220 万吨。棕榈油短期因供应偏大累库的现实可能会在四季度及明年一季度迎来反转，如果印尼当 前的高产量不能持续去库时间点可能会更快到来。但若印尼一直维持近期的高产记录，棕榈油 则会继续弱势。策略上，建议暂时观望，等待更为明确的产量信号。 农产品研究|油脂油料 一、马来、印尼棕榈油产量超预期压制棕榈油行情表现 印尼当前棕榈油产量处于近年最高水平。据 GAPKI 7 月棕榈油月报数据显示，截至 7 月底印尼 棕榈油库存录得 253 万吨环比增加 3.8 万吨，印尼 7 月棕榈油出口达 353.7 万吨环比 6 月下降 7 万吨，7 月棕榈油产量达 560.6 万吨环比增加 31.7 万吨，单月产量创近十年最高水平。叠加 马 ...

油脂油料产业日报 2025/10/22 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 ...

Core Insights - The event "Stabilizing Enterprises and Securing Agriculture: Futures Services for SMEs in the Vegetable Oil Sector" was successfully held in Guangzhou, focusing on opportunities and challenges in the vegetable oil industry [1] - Over 170 representatives from the vegetable oil industry gathered, indicating significant industry interest and engagement [1] Group 1: Expert Insights and Strategies - The event featured industry experts discussing market supply and demand, providing practical strategies for risk management [2] - Key presentations included an analysis of domestic and international vegetable oil market trends and supply-demand dynamics [2] - Experts emphasized the importance of using futures tools for risk management and enhancing industry collaboration to navigate market changes [2][3] Group 2: Roundtable Discussions - A roundtable forum addressed critical issues in the vegetable oil sector, focusing on opportunities and challenges amid global trade tensions [3] - Experts advised SMEs to proactively use futures tools to manage price volatility and suggested a combination strategy of "small steps and focused phases" to mitigate future uncertainties [3] - Discussions highlighted the need for vigilance regarding potential cost increases in packaging oil raw materials in 2026 [3] Group 3: Commitment to Health and Industry Development - Yihai Kerry Group showcased its dual commitment to "serving the real economy and empowering health," aligning with national health initiatives [4][5] - The company has a history of innovation in healthy eating, continuously expanding its product offerings to meet health demands [5] - The event served as a platform for SMEs to connect, share knowledge, and enhance confidence in navigating the complex market environment [6]

| | 1、据巴西农业部下属的国家商品供应公司CONAB，截至10月18日，巴西大豆播种率为21.7%，上周 | | --- | --- | | | 为11.1%，去年同期为17.6%，五年均值为27.7%。2、美国农业部数据显示，截至2025年10月16日 | | 行业 | 当周，美国大豆出口检验量为1474354吨，前一周修正后为1017172吨，初值为994008吨。2024年 | | 信息 | 10月17日当周，美国大豆出口检验量为2549979吨。本作物年度迄今，美国大豆出口检验量累计为 | | | 5537802吨，上一年度同期8013348吨。 | | | 蛋白粕：夜盘豆菜粕震荡收涨。美国压榨数据表现超预期，减轻了市场对于美豆需求的担忧。根 | | | 据NOPA数据显示，9月份大豆压榨量1.97亿蒲，环比增加4.24%，同比增加11.6%，并创下有记录 | | | 以来的第四个月度高点，也是历史同期最高纪录，受此提振美豆期价有所回暖。国内方面，场关 | | | 注10月末APEC中美两国元首会面情况，国内供应充足使得短期连粕上方仍面临较大压力。 | | | 油脂：夜盘菜棕油震荡收跌，豆油震荡收 ...