Supported by strengthened expectations of biodiesel production in the United States and seasonal reductions in palm oil output, the price focus of vegetable oils has shifted upward. During the overnight session, palm oil prices experienced a slight decline, while soybean oil futures generally traded around Yuan 8,100 per tonne, with market attention focused on the momentum for a breakthrough above Yuan 8,150/tonne. On the physical market, against the backdrop of rising futures prices and relatively subdued trading in inland consumption areas, the basis is under pressure. In the short term, the physical basis is expected to remain under some pressure, though the room for further decline is likely limited, as crush plants currently face no significant inventory pressure.