Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Report's Core View - Malay high-frequency data has improved, but there is still significant pressure in December. The market is expected to rebound in the short term and then continue to decline, awaiting the release of MPOB's December data. For rapeseed oil, influenced by traders taking delivery and obstacles in Australian imports, the price has risen. Short-term observation is recommended, and it is not advisable to chase the upward trend. For soybean oil, wait for the USDA's January report and pay attention to the adjustment of the new US soybean yield per unit area [2] Group 3: Summary Based on Related Catalogs Spot Price - 24-degree palm oil: On December 29, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu were 8650, 8590, and 8490 respectively, with a decrease of 20 compared to December 26, 2025. The palm oil main contract spot basis in South China for Tianjin, Zhangjiagang, and Huangpu was 5000, 4000, and 3000 (or 2000) respectively [1] - First-grade soybean oil: On December 29, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu were 8250, 8390, and 8400 respectively, with no change compared to December 26, 2025 [1] - Fourth-grade rapeseed oil: On December 29, 2025, the prices in Zhangjiagang, Wuhan, and Chengdu were 9880, 9930, and 10130 respectively, with an increase of 100 compared to December 26, 2025. The soybean oil main contract spot basis in North China for Zhangjiagang, Wuhan, and Chengdu was 2000, 1500, and 1000 respectively [1] Futures Data - The price difference between the soybean and palm oil main contracts was -694 on December 29, 2025, an increase of 38 compared to December 26, 2025. The price difference between the rapeseed and soybean oil main contracts was 1222 on December 29, 2025, an increase of 12 compared to December 26, 2025 [1] - The palm oil warehouse receipts were 260 on December 29, 2025, with no change compared to December 26, 2025. The soybean oil warehouse receipts were 28264 on December 29, 2025, with no change compared to December 26, 2025. The rapeseed oil warehouse receipts were 3456 on December 29, 2025, with no change compared to December 26, 2025 [1] Industry News - On December 19, the Indonesian energy minister said that the country had launched a road test for B50 biodiesel two weeks ago, which is expected to last about six months. The mandatory use policy for B50 biodiesel is likely to be officially implemented in the second half of 2026 [2] - MPOC predicts that the crude palm oil price will fluctuate between 3800 and 4100 ringgit per ton in January next year, supported by seasonal low production and increased demand before the Lunar New Year and Ramadan [2] - According to MPOA, Malaysia's palm oil production from December 1 - 20 decreased by 7.44% compared to the same period last month. According to ITS, Malaysia's palm oil exports from December 1 - 25 increased by 1.6% compared to the same period last month; exports from December 1 - 20 increased by 2.4% compared to the same period last month; exports from December 1 - 15 decreased by 15.9% compared to the same period last month. According to AmSpec, Malaysia's palm oil exports from December 1 - 15 decreased by 16.4% compared to the same period last month [2] - ANEC predicts that Brazil's soybean exports in December will be 3.57 million tons, up from the previous week's forecast of 3.33 million tons. The US Department of Agriculture announced that a private exporter reported the sale of 134,000 tons of soybeans to China for delivery in the 2025/2026 fiscal year [2] - According to the Indian Solvent Extractors' Association, India's palm oil imports in November increased by about 5% compared to October, reaching 632,341 tons. Soybean oil imports decreased by more than 18% compared to the previous month, reaching 370,661 tons. Sunflower oil imports decreased by 45% compared to the previous month, reaching 142,953 tons, the lowest in two years. India also imported 5,000 tons of rapeseed oil from the UAE. The decrease in soybean and sunflower oil imports led to a 13.3% decrease in India's total edible oil imports in November compared to the previous month, reaching a seven - month low of 1.15 million tons. In November, India imported a record - high 69,919 tons of soybean oil from China due to discounts offered by Chinese crushers due to oversupply [2]

Report Industry Investment Rating - Not provided in the report Core View - Southeast Asian floods have limited impact on palm oil, with potential negative expectation gaps [2] Summary by Related Catalogs Spot Price - On December 1, 2025, the spot price of 24 - degree palm oil in Tianjin, Zhangjiagang, and Huangpu remained unchanged compared to November 28, 2025, at 8710, 8670, and 8570 respectively [1] - The spot price of first - grade soybean oil in Tianjin, Zhangjiagang, and Huangpu increased by 50 on December 1, 2025, compared to November 28, 2025, reaching 8470, 8610, and 8620 respectively [1] - The spot price of fourth - grade rapeseed oil in Zhangjiagang, Wuhan, and Chengdu decreased by 30 on December 1, 2025, compared to November 28, 2025, reaching 10080, 10130, and 10330 respectively [1] Futures Data - On December 1, 2025, the spread between the main contracts of soybean oil and palm oil was - 364, an increase of 18 compared to November 28, 2025 [1] - The spread between the main contracts of rapeseed oil and soybean oil was 1482, a decrease of 31 compared to November 28, 2025 [1] - The palm oil warehouse receipts remained unchanged at 352; the soybean oil warehouse receipts increased by 5469 to 5469; the rapeseed oil warehouse receipts decreased by 110 to 3855 [1] Important Information - Indonesia - Indonesia's GAPKI believes that floods in Sumatra have not had a significant impact on palm oil production [1] - From January to October 2025, Indonesia exported a total of 19.49 million tons of crude and refined palm oil, a 7.83% increase compared to the same period last year. In October, 1.91 million tons of palm oil were exported, up from 1.38 million tons in September [1] Important Information - Malaysia - According to SPPOMA, the average yield per unit of palm oil in Malaysia in November decreased by 0.2% compared to the same period last month [1] - According to ITS, from November 1 - 30, Malaysian palm oil exports decreased by 19.7% compared to the same period last month; from November 1 - 20, exports decreased by 20.5%; from November 1 - 15, exports decreased by 15.5%; from November 1 - 10, exports decreased by 12.8% [1] - According to AmSpec, from November 1 - 30, Malaysian palm oil exports decreased by 15.9% compared to the same period last month; from November 1 - 20, exports decreased by 14%; from November 1 - 15, exports decreased by 10%; from November 1 - 10, exports decreased by 10% [1] Other Information - In September, the U.S. usage of soybean oil for biofuel production rose to 1.053 billion pounds, up from 1.041 billion pounds in August [1] - In the 2025/26 season, the overall growth of Brazilian soybeans indicates that the yield potential in most regions will be lower than in the 2024/25 season. The current sowing progress is 86.97%, compared to 89.54% in the same period last year and a five - year average of 85.13% [2] - As of the week ending October 16, the net sales of U.S. soybeans for the 2025/2026 season were 1.108 million tons, in line with expectations, up from 0.785 million tons the previous week; the net sales for the 2026/2027 season were 0 tons, down from 0.1 million tons the previous week. The export shipments of U.S. soybeans for the 2025/2026 season were 1.73 million tons, up from 0.693 million tons the previous week [2]

国贸期货有限公司 流的衍生品综合服务商 官 方 网 线 型 www.itf.com.cn 00-8888-598 | | | | | | 油脂数据日报 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | ITG国贸期货 | | | | 国贸期货出品 | | 2025/11/27 | | | | 农产品中心 | | 投资咨询业务资格 | | | 期货从业证号 | 176 投资咨询证号 | | | | 证监会许可【2012】31号_ 30 陈凡生 | | | | | F03117830 | Z0022681 | | | | 24度棕櫚油 2025/11/26 | | 2025/11/25 | 一口价变动 | | | | | | | | | | | | 棕榈油主力现货基差(华南) | | | | | 天津 8480 | | 8560 | -80 | 5000 | | | | | | 8360 张家港 | | 8440 | -80 | 4000 | | | | | | 黄浦 8290 | | 8370 B | -80 | 3000 | ...

官 方 网 线 型 www.itf.com.cn 00-8888-598 | | | | | | 油脂数据日报。 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | ITG国贸期货 | | | 国贸期货出品 | | 2025/11/24 | | | | 投资咨询业务资格 | | | | 农产品中心 | 期货从业证号 | 176 | 投资咨询证号 | | | 证监会许可【2012】31号。 | | | 国学 陈凡生 | | F03117830 | Z0022681 | | | | 24度棕櫚油 2025/11/21 | | 2025/11/20 | 一口价变动 | | 棕榈油主力现货基差(华南) | | | | | 一天津 8660 | | 8860 | -200 | 5000 | | | | | | 8540 张家港 | | 8740 | -200 | 4000 | | | | | | 黄浦 8470 | | 8670 9 | -200 | 3000 | | | | | | | | | | 2000 | | | | | | ...

Group 1: Investment Rating - No investment rating information is provided in the report. Group 2: Core View - Malay high-frequency production data shows an increase in production in the first half of November, creating a negative expectation gap, and palm oil is expected to run weakly [2] Group 3: Summary by Relevant Catalogs Spot Price - **24-degree Palm Oil**: On November 17, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu were 8760, 8640, and 8570 respectively, with a decrease of 20 compared to November 14, 2025 [1] - **First-grade Soybean Oil**: On November 17, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu remained unchanged at 8450, 8590, and 8640 respectively compared to November 14, 2025 [1] - **Fourth-grade Rapeseed Oil**: On November 17, 2025, the prices in Zhangjiagang, Wuhan, and Chengdu were 10240, 10290, and 10520 respectively, with a decrease of 50 compared to November 14, 2025 [1] Futures Data - **Bean - Palm Main Contract Spread**: On November 17, 2025, it was -398, a decrease of 10 compared to November 14, 2025 [1] - **Rapeseed - Bean Main Contract Spread**: On November 17, 2025, it was 1598, a decrease of 69 compared to November 14, 2025 [1] - **Warehouse Receipts**: On November 17, 2025, palm oil warehouse receipts were 730 (unchanged), soybean oil warehouse receipts were 24777 (a decrease of 216), and rapeseed oil warehouse receipts were 5323 (unchanged) compared to November 14, 2025 [1] Production, Export, and Inventory - **Malaysian Palm Oil Production**: According to SPPOMA, from November 1 - 15, 2025, the yield per unit increased by 0.82% month - on - month, the oil extraction rate increased by 0.43%, and production increased by 4.09% compared to the same period last month; the production in the first 10 days decreased by 4% compared to the same period last month [2] - **Malaysian Palm Oil Export**: According to ITS, from November 1 - 15, 2025, exports decreased by 15.5% compared to the same period last month; from November 1 - 10, 2025, exports decreased by 12.8% compared to the same period last month. According to AmSpec, from November 1 - 15, 2025, exports decreased by 10% compared to the same period last month; from November 1 - 10, 2025, exports decreased by 10% compared to the same period last month [2] - **Domestic Palm Oil Inventory**: As of November 14, 2025, the national commercial inventory of palm oil was 653,200 tons, a week - on - week increase of 9.36%, at a recent high [2] - **US Soybean Production and Export**: In the 2025/26 season, the predicted production of US soybeans is 4.266 billion bushels, the yield per unit is 53.1 bushels per acre, and the ending inventory is 304 million bushels. The predicted export is 1.635 billion bushels, a decrease of 50 million bushels compared to the September prediction [2] - **Domestic Soybean Oil Inventory**: As of November 14, 2025, the national commercial inventory of soybean oil was 1.1485 million tons, a week - on - week decrease of 0.75% [2] - **Rapeseed Oil Import**: The predicted import volume of rapeseed oil in November 2025 is 226,000 tons (a month - on - month increase of 26.3%) due to the concentrated arrival of new - season Russian rapeseed oil [2]

Report Summary 1. Investment Rating - No investment rating for the industry is provided in the report. 2. Core View - Palm oil is dominated by oversupply pressure and performs the weakest, soybean oil oscillates between cost support and inventory pressure, and rapeseed oil is relatively strong but its rebound space is limited [2]. 3. Summary by Category Spot Price - **24 - degree palm oil**: On November 6, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu were 8760, 8600, and 8540 respectively, with a decrease of 10 compared to November 5. The spot - basis of palm oil futures (South China) was 5000, 4000, and 3000 in these regions [1]. - **First - grade soybean oil**: On November 6, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu were 8320, 8390, and 8490 respectively, with an increase of 10 compared to November 5 [1]. - **Fourth - grade rapeseed oil**: On November 6, 2025, the prices in Zhangjiagang, Wuhan, and Chengdu were 9780, 9830, and 10100 respectively, with an increase of 30 compared to November 5. The spot - basis of rapeseed oil futures (East China) was 3000 [1][2]. Futures Data - **Price difference between soybean and palm oil futures contracts**: On November 6, 2025, it was - 544, a decrease of 92 compared to November 5 [1]. - **Price difference between rapeseed and soybean oil futures contracts**: On November 6, 2025, it was 1376, a decrease of 107 compared to November 5 [1]. - **Warehouse receipts**: On November 6, 2025, the palm oil warehouse receipts were 650 (unchanged), soybean oil warehouse receipts were 26460 (a decrease of 984), and rapeseed oil warehouse receipts were 5112 (a decrease of 1726) compared to November 5 [1]. Industry News - **Palm oil supply**: Indonesia's palm oil production in 2025 is expected to reach 56 million tons, a year - on - year increase of 10%. Malaysia's palm oil inventory in October is expected to reach 2.44 million tons, a month - on - month increase of 3.5%, and the production is expected to be 1.94 million tons, a month - on - month increase of 5.6%. As of October 29, China's palm oil commercial inventory was 639,000 tons, a week - on - week increase of 3.06% [2]. - **Soybean news**: Brazil's Supreme Court confirmed the validity of the soybean environmental protection agreement. StoneX lowered the 2025 US soybean yield to 53.6 bushels per acre. Brazil's soybean sowing progress was 47.1% on November 2 [2]. - **Rapeseed oil import**: The rapeseed oil import volume in November is expected to be 226,000 tons, a month - on - month increase of 26.3%, due to the concentrated arrival of new - season rapeseed oil from Russia [2].

Report Summaries 1. Report Industry Investment Rating - The industry investment rating suggests a range-bound market with a recommendation to wait and see [2] 2. Core View of the Report - The report provides a comprehensive analysis of the current situation of the global oil and fat market, including spot and futures prices, inventory levels, and production and export data from major producers. It also highlights policy changes in Indonesia and the production progress of soybeans in Brazil and the United States [1][2] 3. Summary by Relevant Catalogs Spot Price - **24 - degree Palm Oil**: On October 15, 2025, prices in Tianjin, Zhangjiagang, and Huangpu were 9420, 9260, and 9200 respectively, each down 80 from the previous day [1] - **First - grade Soybean Oil**: Prices in Tianjin, Zhangjiagang, and Huangpu on October 15, 2025, were 8420, 8520, and 8590 respectively, each down 30 from the previous day [1] - **Fourth - grade Rapeseed Oil**: Prices in Zhangjiagang, Wuhan, and Chengdu on October 15, 2025, were 10150, 10190, and 10470 respectively, each down 30 from the previous day [1] Futures Data - **Bean - Palm Main Contract Spread**: On October 15, 2025, it was - 1070, up 20 from the previous day [1] - **Rapeseed - Bean Main Contract Spread**: On October 15, 2025, it was 1680, down 39 from the previous day [1] - **Warehouse Receipts**: Palm oil warehouse receipts remained at 500; soybean oil warehouse receipts increased by 850 to 26294; rapeseed oil warehouse receipts remained at 7590 [1] International Market Conditions - **India**: In September 2025, total vegetable oil imports were 1639743 tons, slightly down from August. Palm oil imports decreased significantly, while soybean oil and sunflower oil imports increased [2] - **Indonesia**: Plans to raise the crude palm oil (CPO) export tax from 10% to 15% to fund the transition from B40 to B50 biodiesel. B50 is in the final testing stage, with full - scale testing expected in Q2 2026 and official implementation in the second half of the same year [2] - **Malaysia**: In September 2025, palm oil production was 184.12 million tons, with a month - on - month decrease of 0.73% and a year - on - year increase of 1.06%. From October 1 - 10, 2025, production increased by 6.59% month - on - month. Exports from October 1 - 10 increased by 9.9% (ITS) and 19.4% (AmSpec) compared to the previous month [2] Domestic Market Conditions - **Soybean Production**: As of October 11, 2025, Brazil's 2025/26 soybean sowing rate was 11.1%. As of September 28, 2025, the US soybean good - to - excellent rate was 62%, and the harvest rate was 19% [2]

Group 1: Report Industry Investment Rating - The report suggests going long on oils and fats as the bullish drivers are temporarily unfalsifiable [2] Group 2: Core Viewpoints - The report presents price changes of 24 - degree palm oil, first - grade soybean oil, and fourth - grade rapeseed oil in different regions on August 20, 2025, compared to August 19, 2025, with most showing a downward trend [1] - Due to the anti - dumping investigation on Canadian rapeseed, the domestic far - month rapeseed procurement progress is slow, and there are concerns about future rapeseed supply. The estimated rapeseed arrivals in August are about 200,000 tons, and the average monthly arrivals from September to October are about 130,000 tons [2] - The USDA report adjusted the US soybean new - crop area and yield. Although the yield per acre was raised to a historical high, the planting area was unexpectedly reduced, resulting in a lower - than - expected production [2] - The weather in the US in the next two weeks is favorable for soybean yield, and the good - to - excellent rates of US soybeans and corn are in line with market expectations [2] Group 3: Summary by Related Content Spot Price - 24 - degree palm oil: On August 20, 2025, prices in Tianjin, Zhangjiagang, and Huangpu were 9,660, 9,540, and 9,510 respectively, down 200 from August 19 [1] - First - grade soybean oil: On August 20, 2025, prices in Tianjin, Zhangjiagang, and Huangpu were 8,510, 8,630, and 8,610 respectively, down 200 from August 19 [1] - Fourth - grade rapeseed oil: On August 20, 2025, prices in Zhangjiagang, Wuhan, and Chengdu were 9,900, 9,950, and 10,160 respectively, down 130 from August 19 [1] Futures Data - The price difference between soybean and palm oil main contracts was - 1,140 on August 20, 2025, down 26 from August 19 [1] - The price difference between rapeseed and soybean main contracts was 1,414 on August 20, 2025, up 90 from August 19 [1] - Palm oil warehouse receipts were 1,404 on August 20, 2025, down 16 from August 19; soybean oil warehouse receipts remained unchanged at 15,310; rapeseed oil warehouse receipts remained unchanged at 3,487 [1] Rapeseed - related Information - The Ministry of Commerce preliminarily ruled that there was dumping of imported Canadian rapeseed, and from August 14, 2025, importers need to pay a 75.8% deposit on Canadian rapeseed [2] Palm Oil - related Information - Bloomberg's July MPOB forecast: Palm oil production increased 8.3% month - on - month to 1.83 million tons, imports were 50,000 tons, exports increased 3.2% to 1.3 million tons, local consumption was 250,000 - 450,000 tons, and inventory increased 10% to 2.23 million tons [2] - In Malaysia, from August 1 - 5, palm oil yield per unit decreased 17.27% month - on - month, and from August 1 - 10, exports increased 23.3% (ITS) and 23.7% (AmSpec) compared to the same period last month [2] Soybean - related Information - The USDA report raised the US soybean yield per acre to 53.6 bushels/acre but cut the 2025/26 planting area by 2.5 million acres to 80.9 million acres, resulting in a 43 - million - bushel reduction in production to 4.292 billion bushels [2] - As of the week ending August 10, the good - to - excellent rate of US soybeans was 68%, and that of US corn was 72%, both in line with market expectations [2]

Report Industry Investment Rating - The report recommends going long on oils and fats as the bullish drivers are temporarily difficult to disprove [2] Core Viewpoints - The report analyzes the price, inventory, production, and export data of palm oil, soybean oil, and rapeseed oil, and points out that due to the anti - dumping investigation on Canadian rapeseed, the supply of rapeseed may be tight; the production and export situation of palm oil in Malaysia is complex; and the production of US soybeans has both high - yield expectations and area reduction [1][2] Summary by Related Content Price Data - **Palm Oil**: On August 15, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu were 9710, 9640, and 9300 respectively, while on August 18, they were 9440, 9370, and 9570, with a one - price change of 270 [1] - **Soybean Oil**: On August 15, 2025, the prices in Tianjin, Zhangjiagang, and Huangpu were 8660, 8780, and 8760 respectively, and on August 18, they were 8710, 8830, and 8810, with a one - price change of 50 [1] - **Rapeseed Oil**: On August 15, 2025, the prices in Zhangjiagang, Wuhan, and Chengdu were 9900, 10080, and 10160 respectively, and on August 18, they were 10030, 9950, and 10290, with a one - price change of 130 [1] Futures Data - The spread between soybean and palm oil main contracts changed from - 926 to - 1068, a decrease of 142; the spread between rapeseed and soybean main contracts changed from 1310 to 1223, a decrease of 87; palm oil warehouse receipts remained at 1420, and soybean oil warehouse receipts increased from 14840 to 15310, an increase of 470 [1] Supply and Demand Information - **Rapeseed**: The Ministry of Commerce preliminarily ruled that there was dumping of imported Canadian rapeseed. From August 14, 2025, importers need to pay a 75.8% deposit. The procurement of domestic distant - month rapeseed is slow, and the supply may be tight. The estimated arrival volume in August is about 200,000 tons, and the average monthly arrival volume from September to October is about 130,000 tons [2] - **Palm Oil**: Bloomberg's July MPOB estimate shows that production increased 8.3% month - on - month to 1.83 million tons, imports were 50,000 tons, exports increased 3.2% to 1.3 million tons, local consumption was 250,000 - 450,000 tons, and inventory increased 10% to 2.23 million tons. In Malaysia, from August 1 - 5, production decreased 17.27% month - on - month; from August 1 - 10, exports increased 23.3% (ITS) and 23.7% (AmSpec) compared to the same period last month [2] - **Soybean**: The USDA report increased the yield per acre of US soybeans to 53.6 bushels/acre but decreased the planting area by 2.5 million acres to 80.9 million acres, resulting in a production decrease of 43 million bushels to 4.292 billion bushels. The weather in the next two weeks is favorable for yield, and as of August 10, the good - to - excellent rate of US soybeans was 68% [2]

Group 1: Report Industry Investment Rating - The report suggests going long on oils and fats as the bullish drivers are temporarily hard to disprove [2] Group 2: Core View of the Report - The report provides a comprehensive analysis of the spot and futures prices of palm oil, soybean oil, and rapeseed oil, as well as relevant market data and news, suggesting a long - position in the oils and fats market due to non - falsifiable bullish drivers [1][2] Group 3: Summary Based on Different Data Spot Price - On August 13, 2025, the spot prices of 24 - degree palm oil in Tianjin, Zhangjiagang, and Huangpu were 9520, 9450, and 9380 respectively, with a daily increase of 120 [1] - The spot prices of first - grade soybean oil in Tianjin, Zhangjiagang, and Huangpu were 8720, 8840, and 8820 respectively, with a daily increase of 170 [1] - The spot prices of fourth - grade rapeseed oil in Zhangjiagang, Wuhan, and Chengdu were 10260, 10310, and 10520 respectively, with a daily increase of 500 [1] Futures Data - On August 13, 2025, the spread between soybean and palm oil main contracts was - 848, up 38 from the previous day; the spread between rapeseed and soybean oil main contracts was 1488, up 162 [1] - The number of palm oil warehouse receipts was 1420, unchanged; the number of soybean oil warehouse receipts was 22170, an increase of 216; the number of rapeseed oil warehouse receipts was 3487, unchanged [1] Market News - The Ministry of Commerce preliminarily ruled that imported Canadian rapeseed was dumped. From August 14, 2025, importers need to pay a 75.8% deposit on Canadian companies [2] - Affected by the anti - dumping investigation on Canadian rapeseed, the domestic long - term rapeseed procurement progress is slow. The imported rapeseed arrival volume in August is expected to be about 200,000 tons, and the average monthly arrival volume from September to October is about 130,000 tons [2] - Bloomberg's July MPOB forecast: Palm oil production increased 8.3% month - on - month to 1.83 million tons, imports were 50,000 tons, exports increased 3.2% to 1.3 million tons, local consumption was 250,000 - 450,000 tons, and inventory increased 10% to 2.23 million tons [2] - From August 1 - 5, Malaysia's palm oil yield per unit decreased 19.32% month - on - month, the oil extraction rate increased 0.39% month - on - month, and production decreased 17.27% month - on - month [2] - From August 1 - 10, Malaysia's palm oil exports increased 23.3% and 23.7% respectively compared with the same period last month according to ITS and AmSpec [2] - The USDA report adjusted the new - crop soybean yield per acre from 52.5 bushels/acre to a record high of 53.6 bushels/acre but unexpectedly reduced the 2025/26 US soybean planting area by 2.5 million acres to 80.9 million acres, resulting in a 43 million - bushel reduction in production to 4.292 billion bushels [2] - The US soybean and corn good - to - excellent rates as of August 10 were 68% and 72% respectively, in line with market expectations [2]