Report Overview - Report Name: Baocheng Futures Bean and Oil Morning Report (October 17, 2025) - Publisher: Baocheng Futures - Date: October 17, 2025 Industry Investment Rating - The report does not provide an overall industry investment rating. Core Viewpoints - The prices of soybean meal and palm oil futures are expected to be weak with oscillations in the short - term and show an oscillating trend in the medium - term. This is due to multiple factors such as Sino - US trade relations, international oil prices, policy uncertainties, and inventory situations [5][7]. Summary by Variety Soybean Meal (M) - **Intraday View**: Oscillating and weakening [5]. - **Medium - term View**: Oscillating [5]. - **Reference View**: Oscillating and weakening [5]. - **Core Logic**: Sino - US trade relations, high near - term domestic inventory, far - term supply gap expectations, and reduced capital support lead to the short - term weakening with oscillations of soybean meal futures prices [5]. Palm Oil (P) - **Intraday View**: Oscillating and weakening [7]. - **Medium - term View**: Oscillating [7]. - **Reference View**: Oscillating and weakening [7]. - **Core Logic**: The continuous impact of international oil price pressure on the oil market, increased policy uncertainties in various countries, demand substitution in the oil market, and cautious market funds result in the short - term weakening with oscillations of palm oil futures prices [7]. Other Related Contracts - **Soybean Meal 2601**: Short - term, medium - term, and intraday views are all oscillating and weakening. Influencing factors include Sino - US relations, import arrival rhythm, oil mill operation rhythm, and inventory pressure [6]. - **Soybean Oil 2601**: Short - term, medium - term, and intraday views are all oscillating and weakening. Influencing factors include Sino - US relations, US biofuel policies, US soybean oil inventory, domestic soybean cost support, supply rhythm, and oil mill inventory [6]. - **Palm 2601**: Short - term, medium - term, and intraday views are all oscillating and weakening. Influencing factors include biodiesel attributes, Malaysian palm production and exports, Indonesian exports, main - producing country tariff policies, domestic arrival and inventory, and substitution demand [6].