The domestic oil and fat market is boosted by rising crude oil prices and is expected to maintain a fluctuating and slightly strong trend.

Yesterday, CBOT soybean oil markets surged strongly, boosted by a sharp rise in crude oil. Yesterday, Malaysia’s palm oil market fluctuated and rebounded to a one-month high, following the rebound in the crude oil market, with the gains continuing to expand in the night trading session. Domestic oilseed supply is generally ample, and the demand during the off-season has dragged the oilseed sector to actively recover. The spillover effect of rising crude oil prices is still being released, and the evolving situation in the Middle East remains a key factor influencing the recent domestic and international vegetable oil market trends. The domestic oilseed market is expected to continue its relatively strong momentum. Due to the recovery of domestic oil mills’ operation rates and high soybean oil inventories, combined with the market being in the traditional off-season for consumption, terminal demand is sluggish, and spot prices lack upward momentum. Although high levels of foreign oilseed prices provide some cost support through oscillations, the domestic supply and demand are the main drivers, and it is expected that soybean oil spot prices will remain oscillating and relatively strong in the near future. (China Feed Industry Information Network)