The Trump administration plans to finalize the 2026 biofuel blending mandate by early March, with the overall scale largely following the previously proposed growth trajectory. However, it will abandon the punitive plan to slash subsidy credits for imported renewable fuels and their feedstocks. Following the news, buying interest in U.S. soybean oil accelerated, driving up domestic vegetable oil futures, with rapeseed oil showing the strongest rebound due to its significant use in U.S. biodiesel, which is particularly bullish for Canadian rapeseed oil. Soybean oil futures closed at Yuan 8,020/tonne during the night session. In the spot market, soybean oil basis remained stable to firm overall, with strong basis in East China and Guangxi due to tight shipments, supporting stronger prices in inland markets such as Sichuan and Chongqing. The Chengdu market, in particular, remains at an inverted price level, and prices are expected to stay firm in the near term. In northern markets, the ba