Conglomerate MK Group has agreed to purchase Serbian edible oils manufacturer Dijamant from Croatia’s Fortenova Group. The deal was announced in individual statements yesterday (27 January) from MK Group and Fortenova, which said the disposal of Dijamant "marks our exit from the agricultural industry and the edible oil industry". Financial terms were not disclosed, while the transaction remains subject to regulatory competition approvals. According to Fortenova's website, Dijamant is the “leader” in th ...

Core Viewpoint - Palm oil leads the oilseed sector with a price increase of over 2% in the main contract, driven by seasonal production cuts overseas and domestic pre-holiday stocking for the Spring Festival, indicating a short-term bullish outlook for palm oil [3][7]. Group 1: Policy and Market Dynamics - Oilseed policies are centered around Indonesia and the United States, with Indonesia canceling the B50 biodiesel plan and extending the B40 plan until 2026, leading to reduced demand expectations [3][7]. - The U.S. biodiesel policy is set to be announced soon, which is expected to boost vegetable oil demand, with plans to finalize the biodiesel blending obligation of 5.2 to 5.6 billion gallons by March 2026, while also abandoning the RINs import reduction rule [3][7]. Group 2: Production and Export Trends - Seasonal production cuts have begun, with the Malaysian Palm Oil Association (MPOA) estimating a 14.43% month-on-month decrease in palm oil production from January 1 to 20 [3][7]. - High-frequency data indicates a month-on-month increase in palm oil exports of 7.97% to 9.97% from January 1 to 25 [3][7]. Group 3: Domestic Market Conditions - Domestic pre-holiday stocking and the release of spot demand are pushing oilseeds into a destocking phase, contributing to a collective rise in domestic oilseed futures [3][7]. - Palm oil has reached a three-month high, soybean oil a five-month high, and rapeseed oil a six-week high in the domestic market [3][7].

Report Industry Investment Rating - Not provided in the content Core Views of the Report - The overall edible oils in China showed a volatile trend this week. The total inventory of the three major domestic edible oils continued to decline slightly, but the overall inventory was still sufficient [4]. - Malaysian palm oil has entered the production - reduction period, with expected continuous production and inventory reduction in the later stage, but the inventory - reduction speed is slow, and high inventory may persist [4][28]. - Domestic soybean oil inventory is gradually decreasing, but the overall inventory is not expected to be tight. There are uncertainties in subsequent customs policies, and short - term performance is relatively good, but there are no prominent contradictions currently [4][23][28]. - Sino - Canadian relations show signs of improvement. Importing rapeseed for oil extraction is profitable at current prices. However, even if relations ease, it will take time for rapeseed to arrive at ports. In the short term, the near - month rapeseed oil contracts have both pressure and support [4][26][28]. Summary by Relevant Catalogs First Part: Weekly Core Points Analysis and Strategy Recommendation International Market - **Malaysian Palm Oil**: Estimated that the production in December may drop to 1.76 million tons, exports may slightly increase to 1.25 million tons, and inventory may accumulate to nearly 3 million tons. High inventory will make subsequent inventory reduction slow, and the stock - to - sales ratio has increased significantly. The RBD price is around $1020, showing a volatile downward trend, and the decline space is expected to be limited. Attention should be paid to the MPOB report on Monday [5][8]. - **Indonesian Palm Oil**: The CPO spot price remains high at around $850, and the inventory is continuously low, with a firm price. Due to financial constraints, Indonesia may increase the palm oil export tax to support its biodiesel mission and may confiscate an additional 5 million hectares of palm oil plantations this year, causing palm oil prices to rise recently [8]. - **Indian Palm Oil**: The market expects India's edible oil imports to increase to over 17 million tons in the 25/26 fiscal year, with palm oil imports increasing from 7.5 million to 9.3 million tons. It is estimated that India will import only 500,000 tons of palm oil in December, while soybean oil and sunflower oil imports will increase significantly. The international price difference between soybean oil and palm oil is widening, and palm oil's cost - effectiveness is emerging, which is conducive to increased palm oil procurement to some extent [14]. Domestic Market - **Palm Oil**: As of January 2, 2026, the commercial inventory of palm oil in key national regions was 726,700 tons, a decrease of 7,400 tons from the previous week, a decline of 1.01%. The basis is stable. The origin's quotation is stable, and the import profit inversion has narrowed, but domestic procurement enthusiasm is low. It is expected that inventory reduction will start in December, but the speed will be slow [17]. - **Soybean Oil**: As of January 2, 2026, the commercial inventory of soybean oil in key national regions was 1.081 million tons, a decrease of 8,000 tons from the previous week, a decline of 0.73%. The inventory has reached an inflection point, and the basis is stable with a slight decline. The peak of soybean arrivals in China has passed, and domestic soybean oil inventory is expected to gradually decrease after October, but the overall inventory will not be tight [23]. - **Rapeseed Oil**: As of January 2, 2026, the coastal rapeseed oil inventory was 273,000 tons, a decrease of 18,000 tons from the previous week. The 3 - 5 spread has weakened. Sino - Canadian relations are improving, and importing rapeseed for oil extraction is profitable. In the long - term, rapeseed oil is bearish, but in the short - term, the near - month contracts have support at the bottom and pressure at the top [26]. Strategy Recommendation - **Unilateral Strategy**: Edible oils are expected to continue to rebound in the short - term, but the rebound height may be limited, and the overall trend may be volatile. For palm oil, consider short - selling at the upper limit of the range. Soybean oil lacks driving factors and may follow the overall trend of edible oils. Rapeseed oil's core issue lies in policy changes, so it is recommended to wait and see [30]. - **Arbitrage Strategy**: Wait and see [30]. - **Options Strategy**: Wait and see [30]. Second Part: Weekly Data Tracking - **Malaysian Palm Oil Supply and Demand**: Data on monthly production, exports, and inventory of Malaysian palm oil are presented, showing trends over multiple years [35][36][37]. - **Indonesian Palm Oil Supply and Demand**: Data on monthly production, exports, and inventory of Indonesian palm oil are presented, showing trends over multiple years [40][41][43]. - **International Soybean Oil Market**: Data on NOPA's U.S. soybean crushing volume, U.S. soybean oil inventory, Brazilian and Argentine soybean crushing volumes and soybean oil inventories are presented, showing trends over multiple years [45]. - **Indian Edible Oil Supply and Demand**: Data on India's monthly edible oil consumption, imports, and port inventory are presented, including data on palm oil, soybean oil, and sunflower oil imports, showing trends over multiple years [49][50][52]. - **Domestic Edible Oil Import Profit**: Data on the import profit of European rapeseed oil, domestic rapeseed oil, and 24 - degree palm oil are presented, showing trends over multiple years [61][62][63]. - **Domestic Soybean Oil Supply and Demand**: Data on domestic soybean weekly crushing volume, soybean oil weekly consumption, and trading volume are presented, showing trends over multiple years [65]. - **Domestic Palm Oil Supply and Demand**: Data on domestic palm oil monthly import volume, monthly sales volume, and weekly trading volume are presented, showing trends over multiple years [67]. - **Domestic Rapeseed Oil Supply and Demand**: Data on domestic rapeseed weekly crushing volume, rapeseed oil import volume, and monthly consumption are presented, showing trends over multiple years [69]. - **Domestic Edible Oil Spot Basis**: Data on the spot basis of first - grade soybean oil, 24 - degree palm oil, and domestic triple - refined rapeseed oil are presented, showing trends over multiple years [71][72][73]. - **Domestic Edible Oil Commercial Inventory**: Data on domestic soybean oil, palm oil, rapeseed oil, and total edible oil commercial inventories are presented, showing trends over multiple years [75][77][79].

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 来源：CFC商品策略研究 作者 | 中信建投期货 研究发展部 石丽红 一、高频数据边际利多显示，但马棕12月累库概率仍高 在马棕12月1-15日降幅偏低的产量预估及环比大降的出口表现下，市场原本预期马棕12月库存将大概率 累至300万吨，棕榈油市场情绪因而受到较大打压。叠加宏观市场情绪不佳及美盘豆类弱势运行，这一 度引致上周棕榈油05向下跌破8300支撑，市场一片风声鹤唳。然而，本周马棕高频产量及出口数据边际 利多显现，叠加美国45Z税收抵免传出消息，以及文华商品指数向上突破，再度推动油脂反弹。 SPPOMA预计马棕12月1-20日产量环比降7.15%，较前15日2.97%的降幅扩大，引发马棕产量预估下调。 此外，船运机构ITS和Amspec分别预计马棕12月1-20日出口较上月同期增2.4%、降0.87%，较前15日的 降15.89%、16.37%明显好转，令马棕12月累库至300万吨以上的概率大幅降低，对棕榈油市场情绪带来 进一步缓和。然而，UOB及MPOA陆续给出马棕12月1-20日5%-9%和7.44%的产量环比降幅，若12月下 旬出口 ...

Palm oil fell below 4,000 ringgit a ton, touching its lowest level in three weeks, as it tracked weakness in soybean oil and faced pressure from dull exports out of Malaysia https://t.co/y25Hc9aNjI ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Recent core events and market review show that the export of Indonesian palm oil from January to October 2025 increased by 7.83% year - on - year, and traders expect India's edible oil imports in November to decline by 11.5% month - on - month. This week, the performance of oils and fats was significantly differentiated. Palm oil showed an overall oscillating upward trend, while rapeseed oil fluctuated and declined after reaching the upper limit of the range. [4] - Malaysia's palm oil may experience production cuts and inventory accumulation in November. Later, as the production areas gradually enter the production - cut season, its inventory will gradually decrease, but the speed is expected to be slow. Indonesia's inventory remains at a relatively low level, and the origin quotations are stable with a slight increase. Currently, the inventory of soybean oil has reached an inflection point and is gradually decreasing, but the market lacks driving forces, and its price mainly fluctuates following the overall trend of oils and fats. In the short term, due to insufficient domestic rapeseed supply and limited rapeseed oil imports, domestic rapeseed oil inventory is expected to continue to decline, which still provides some support for rapeseed oil prices. [4][25] - Overall, short - term oils and fats lack continuous positive driving forces and are expected to maintain range - bound oscillations. [27] 3. Summary According to Relevant Catalogs 3.1 International Market 3.1.1 Malaysia's Palm Oil - Estimated institutions predict that Malaysia's palm oil production in November will decrease by 3% month - on - month to 1.98 million tons, exports will sharply decrease by 15% to 1.44 million tons, and inventory will accumulate to around 2.7 million tons, reaching a high level in the same period of history. Attention should be paid to next week's MPOB report. [9] 3.1.2 Indonesia's Palm Oil - Indonesian Bureau of Statistics data shows that the export of Indonesian palm oil in October was 1.91 million tons, and from January to October, the export volume was 19.49 million tons, a year - on - year increase of 7.83%. ITS data shows that the export volume in October was around 2 million tons, a month - on - month increase of 28%, but the overall data from ITS shows a decreasing trend. From January to October, the export volume was 20.35 million tons, a slight year - on - year decrease of 0.4%. In terms of different countries, the export volume to Africa increased by about 30%. [9] 3.1.3 India's Edible Oil Market - Traders expect India's edible oil imports in November to decline by 11.5% month - on - month to 1.18 million tons, reaching a seven - month low. Among them, palm oil imports slightly increased by 4.6% month - on - month to 630,000 tons, soybean oil imports may decrease by 12% to 400,000 tons, and sunflower oil imports decreased by 44% to 145,000 tons. The market expects that India's edible oil imports in the 25/26 season will continue to increase to over 17 million tons. Among them, soybean oil imports may decrease year - on - year but remain at a relatively high level, while palm oil imports will increase from 7.5 million to 9.3 million tons, showing a large increase. There are rumors that India has cancelled about 70,000 tons of soybean oil orders originally scheduled for delivery from December to January. Currently, the international price difference between soybean oil and palm oil continues to widen, and the cost - effectiveness of palm oil is gradually emerging, which is conducive to an increase in palm oil procurement to some extent. [12] 3.2 Domestic Market 3.2.1 Domestic Palm Oil - As of November 28, 2025 (week 48), the commercial inventory of palm oil in key regions across the country was 653,500 tons, a decrease of 13,600 tons or 2.04% compared with last week. Recently, palm oil inventory is at a neutral level in the same period of history. The origin quotations are relatively stable, and the inversion of import profits has narrowed to around - 200. There are rumors of two ship purchases this week. The basis is stable with a slight decline. In the short term, oils and fats lack continuous positive driving forces. Palm oil is in a long - short game between the positive factor of production cuts caused by flood impacts and the suppression of relatively high inventory. Overall, palm oil is still in a range - bound bottom - grinding stage in the short term, and one can consider buying on dips and conducting high - selling and low - buying range operations. [15] 3.2.2 Domestic Soybean Oil - As of November 28, 2025, the commercial inventory of soybean oil in key regions across the country was 1.1788 million tons, a decrease of 1,100 tons or 0.09% compared with last week. Currently, soybean oil inventory is at a relatively high level in the same period of history, but the inventory inflection point has been reached, and the basis is stable with a slight decline. Domestic demand is average, and trading has become dull. Traders mainly execute contracts. Later, as the arrival of soybeans gradually decreases and soybean crushing volume declines from a high level, soybean oil inventory may slightly decrease, but overall inventory is still sufficient. In the short term, domestic soybean oil supply is abundant, and the price increase is relatively weak, lacking obvious driving forces. It is expected to maintain range - bound oscillations. One can try to go long with a light position after the price stabilizes following a pullback. Attention should be paid to next week's USDA report. [20] 3.2.3 Domestic Rapeseed Oil - As of November 28, 2025, the coastal rapeseed oil inventory was 368,000 tons, a decrease of 17,000 tons compared with last week. It is still at a high level in the same period of history, but the inventory is continuously decreasing marginally. The FOB quotation of European rapeseed oil remains stable at around $1,100, and the inversion of import profits for European rapeseed oil has widened to around - 1,000. There are rumors of rapeseed oil imports this week. The basis of rapeseed oil remains at a high level, and the quotations in Sichuan and Chongqing regions are relatively high, but the downstream acceptance is general. It is expected that the inventory - decreasing trend in coastal areas will continue. In the short term, the overall increase of oils and fats is weak. Currently, the fundamentals of domestic rapeseed oil have not changed much. Due to insufficient rapeseed supply, high import costs, and the continuous marginal decrease of rapeseed oil inventory, there is still some support for rapeseed oil prices. Without a full - scale relaxation of rapeseed procurement, rapeseed oil may maintain range - bound oscillations. One can consider buying on dips at the lower limit of the range for OI03 or 05 contracts and conducting high - selling and low - buying range operations. [23] 3.3 Strategy Recommendation - Unilateral strategy: Short - term oils and fats lack continuous positive driving forces and are expected to maintain range - bound oscillations. One can consider high - selling and low - buying range operations. - Arbitrage strategy: Wait and see. - Option strategy: Wait and see. [27]

Report Industry Investment Rating There is no information provided regarding the report industry investment rating. Core Viewpoints of the Report - MPOB's December palm oil supply - demand data and USDA's monthly report are neutral to bullish, and the oil market may experience a weak rebound but will likely remain volatile in the short term [4][19]. - Due to low inventories in Malaysia, Indonesia, and China, as well as import profit inversion in China, palm oil may be supported; domestic soybean oil inventories are neutral and may be prone to decline; domestic rapeseed oil supply remains abundant [4][11][14][17]. Summary by Directory International Market - Malaysian Palm Oil - In December, Malaysian palm oil stocks decreased to 1709000 tons, a 6.91% month - on - month reduction. Production dropped 8.3% to 1487000 tons, exports declined about 10% to 1340000 tons, and consumption increased significantly to 310000 tons. The overall report impact was neutral [7]. - ITS predicted that Malaysian palm oil exports in the first 10 days of January decreased 21.4% month - on - month. Future rainfall in the producing areas is normal, and short - term supply tightness may continue, with stocks likely to keep decreasing [7]. - Indonesia's B40 will be fully implemented in February, with a transition period to consume B35 inventory and adjust equipment. Restrictions on POME exports may increase CPO usage [7]. International Market - US Soybeans - USDA lowered the new - crop soybean yield per acre in the US to 50.7 bushels, with production dropping to 4.366 billion bushels. The inventory - to - consumption ratio decreased from 10.81% to 8.74%, tightening supply expectations. South American soybean production is still expected to be high [8]. - The US proposed 45Z, which may affect UCO imports [8]. Domestic Palm Oil - As of January 3, 2025, the national key - area palm oil commercial inventory was 501700 tons, a 5.05% decrease from the previous week. The inventory is at a relatively low level historically. The import profit inversion has widened, and the basis is stable [11]. Domestic Soybean Oil - As of January 3, 2025, the national key - area soybean oil commercial inventory was 956500 tons, a 1.01% decrease from the previous week. The basis has declined slightly. The oil mill's soybean crushing volume and开机率 decreased. Spot market trading has become lighter, and inventory is likely to decline [14]. Domestic Rapeseed Oil - Last week, the coastal rapeseed crushing volume was 122500 tons, with a开机率 of 32.65%. As of January 3, 2025, the rapeseed oil inventory was 484000 tons, an increase of 13000 tons from the previous week. Supply is abundant, the basis is stable at a low level, and trading is light [17]. Strategy Recommendations - Unilateral strategy: The oil market is expected to remain volatile with a possible weak rebound. Control risks [21]. - Arbitrage strategy: Consider going long on P3 - 5 and P5 - 9 spreads at low levels [21]. - Option strategy: Stay on the sidelines [21].

Report Investment Rating - The investment strategy for the industry is neutral [3] Core View - The impact of typhoons in palm-producing areas is limited, and the oil market is under pressure and fluctuating [1] Market Analysis Futures - The closing price of the palm oil 2601 contract was 8,418 yuan/ton, a decrease of 200 yuan or 2.32% [1] - The closing price of the soybean oil 2601 contract was 7,474 yuan/ton, a decrease of 78 yuan or 1.03% [1] - The closing price of the rapeseed oil 2601 contract was 8,625 yuan/ton, an increase of 45 yuan or 0.52% [1] Spot - The spot price of palm oil in Guangdong was 9,640 yuan/ton, a decrease of 230 yuan or 2.33%, and the spot basis was P01 + 1,222 yuan, a decrease of 30 yuan [1] - The spot price of first-grade soybean oil in Tianjin was 7,730 yuan/ton, a decrease of 60 yuan or 0.77%, and the spot basis was Y01 + 256 yuan, an increase of 18 yuan [1] - The spot price of fourth-grade rapeseed oil in Jiangsu was 8,700 yuan/ton, an increase of 40 yuan or 0.46%, and the spot basis was OI01 + 75 yuan, a decrease of 5 yuan [1] Market News - Indian buyers have locked in large soybean oil purchases from April to July 2026 to cope with rising palm oil prices, with monthly purchases of over 150,000 tons of South American soybean oil [2] - As of the week ending October 23, the net export sales of US soybeans for the 2025/2026 season were 1.45 million tons, in line with market expectations, and 0 tons for the 2026/2027 season [2] - The net export sales of US corn for the 2025/2026 season were 1.805 million tons, in line with market expectations, and 160,000 tons for the 2026/2027 season [2] - As of last Thursday, 89% of the expected soybean planting area in Brazil for the 2025/26 season has been planted, and 99% of the expected first-season corn planting area in the central-southern region [2] - The three major oils fluctuated yesterday. The Indonesian Palm Oil Association stated that the floods in Sumatra did not significantly impact palm oil production, and Malaysian palm oil prices dropped significantly after the close of the Dalian palm oil market. Attention should be paid to the recent soybean oil reserve release [2]

Indian buyers have secured large purchases of soybean oil for the four months to July, a rare move in anticipation of rising prices of rival palm oil https://t.co/bsqCqAk3Qz ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - After a significant decline, the oil market has stabilized and is experiencing a technical rebound. However, in the short term, there is still a lack of obvious drivers, and the expected increase is limited [25][27]. - It is expected that after the Malaysian palm oil inventory accumulates in October, it will gradually start to decline slightly, but the inventory will still remain at a moderately high level. The production forecast of Indonesian palm oil has been raised, and the inventory is expected to remain low, but the fundamentals have weakened marginally compared to before. The domestic palm oil inventory has been continuously accumulating, and the supply may be relatively loose. Currently, there is no prominent core contradiction in soybean oil, and its price fluctuates more in line with the overall trend of the oil market, with limited upward momentum but greater resilience. In the short term, the domestic rapeseed supply is insufficient, and the import volume of rapeseed oil is also relatively limited. The domestic rapeseed oil inventory is expected to continue to decline, but there are rumors of Australian rapeseed arrivals, which alleviates the expectation of a tight rapeseed supply [4][25]. 3. Summary by Relevant Catalogs 3.1 First Part: Weekly Core Points Analysis and Strategy Recommendations 3.1.1 International Market - Malaysian Palm Oil - Estimated institutions predict that the Malaysian palm oil production will increase by 6% to 1.95 million tons in October, exports will increase to 1.48 million tons, and the inventory will accumulate to 2.44 million tons. However, MPOA's latest forecast shows a 12% increase to 2.07 million tons, and UOB also expects an increase of 8 - 12%. If these production forecasts are accurate, the inventory in October may increase to over 2.5 million tons. Attention should be paid to the MPOB report next Monday [5][7]. - SPPOMA predicts a 6.8% month - on - month increase in Malaysian palm oil production in the first 5 days of November. The rainfall forecast indicates that most producing areas will be dry in the next week, with more rainfall in parts of southern Malaysia. The drought will ease in the next two weeks, and southern Malaysia will still have relatively high rainfall [7]. - Some reports predict that the Malaysian palm oil production in the 2025/26 season may be 19.2 million tons, while this year's production is 19.38 million tons. Currently, the market expects the production in the new season to be flat or slightly lower year - on - year [7]. 3.1.2 International Market - Indonesian Palm Oil - Recently, the prices of Indonesian fruit bunches and CPO tender prices have been fluctuating weakly, currently lower than last year but still at a relatively high level in the same historical period. This year's production in Indonesia has recovered beyond market expectations, and Gapki has recently raised this year's production forecast to 56 - 57 million tons, a year - on - year increase of 8 - 10%. Some reports predict that the palm oil production in Indonesia in the 2025/26 season will be 51 million tons, 4% higher than the previous forecast but still lower than last year. The production forecast for the 2024/25 season has been raised to 53 million tons, reflecting better - than - expected production in July and August. Overall, the market has different forecasts for the production of Indonesian palm oil in the new year [10]. - The Indonesian Statistics Bureau shows that the exports of palm oil and refined palm oil from January to September this year were 17.58 million tons, a year - on - year increase of 11.62% [10]. 3.1.3 International Market - Indian Palm Oil and Edible Oil - Due to increased domestic inventory, weak demand in the food industry, and a narrowing price difference with other oilseeds, India's palm oil imports in October dropped to a five - year low of 750,000 tons. The main reason for the decrease in imports is the sufficient inventory in Indian ports and warehouses, currently holding over 1.2 million tons of edible oil. In addition, the relatively low prices of soybean oil and sunflower oil have prompted refineries to change their preferences [13]. - Traders said that India's total edible oil imports in the 2024/25 season increased slightly by 0.3% year - on - year to 16 million tons. Among them, palm oil imports decreased by 16% year - on - year to 7.56 million tons, the lowest level in five years; soybean oil imports increased by 61.6% year - on - year to a record 5.56 million tons; and sunflower oil imports decreased by 17.7% year - on - year to 2.88 million tons, the lowest level in three years. This week, there were rumors that India had purchased over 100,000 tons of palm oil and some soybean oil, with the shipping dates mainly concentrated in December and later [13]. 3.1.4 Domestic Palm Oil - As of October 31, 2025 (week 44), the commercial inventory of palm oil in key national regions was 592,800 tons, a decrease of 14,300 tons from the previous week, a decline of 2.36%. Recently, the palm oil inventory has decreased slightly and is at a neutral level in the same historical period. The origin quotes are stable, and the import profit inversion has narrowed, currently around - 300. It is rumored that three ships were purchased this week, and it is expected that the palm oil purchases in October and November will exceed 200,000 tons. The basis is stable. Attention should be paid to future domestic purchases and arrivals [16]. 3.1.5 Domestic Soybean Oil - As of October 31, 2025, the commercial inventory of soybean oil in key national regions was 1.2158 million tons, a decrease of 34,500 tons from the previous week, a decline of 2.76%. Currently, the soybean oil inventory is at a relatively high level in the same historical period, but the inventory inflection point may have been reached, and the basis is strengthening steadily. This week, the total spot trading volume of soybean oil was 81,000 tons, an increase from the previous week, but the overall trading volume is still weak [20]. - China has lowered the import tariff on US soybeans to 13%, but it is still difficult for commercial purchases. However, it is rumored that domestic purchases of US soybeans have begun. Attention should be paid to the purchase rhythm of US soybeans. In the short term, the domestic soybean oil supply is sufficient, the price increase is weak, and there is a lack of obvious drivers. It is expected to maintain a volatile trend [20]. 3.1.6 Domestic Rapeseed Oil - As of October 31, 2025, the coastal rapeseed oil inventory was 514,000 tons, a decrease of 21,000 tons from the previous week. It is still at a high level in the same historical period, but the inventory is continuously decreasing marginally. Currently, the rapeseed inventory has reached the bottom, and the rapeseed crushing volume of major coastal oil mills this week was 0 tons, with an operating rate of 0%. It is rumored that Australian rapeseed will arrive at the end of the year, which is the first export of Australian rapeseed to China in five years. The FOB quote of European rapeseed oil has remained stable at around $1,100, and the import profit inversion of European rapeseed oil has widened to around - 1,100. The market still has a sentiment of holding back sales at high prices, and the domestic rapeseed oil basis is strengthening steadily. It is expected that the coastal inventory decline trend will continue [23]. 3.1.7 Strategy Recommendations - Unilateral strategy: After a significant decline, the oil market has stabilized and is experiencing a technical rebound. However, in the short term, there is still a lack of obvious drivers, and the expected increase is limited. It is recommended to wait and see for the time being [27]. - Arbitrage strategy: Long OI 1 - 5 spread and short P1 - 5 spread [27]. - Option strategy: Wait and see [27]. 3.2 Second Part: Weekly Data Tracking - The report provides a large amount of data on the production, export, inventory, consumption, and price of palm oil, soybean oil, and rapeseed oil in Malaysia, Indonesia, India, and the domestic market, as well as data on the import, consumption, and basis of various oils in the domestic market [31][38][43]. These data are presented in the form of tables and charts, including monthly and weekly data, which can be used to track the market trends of the oil industry.