Vegetable oil futures closed lower in the night session and are expected to remain range-bound before the holiday. Post-holiday attention will be focused on the finalization of the total U.S. Renewable Volume Obligation (RVO) targets and production changes in palm oil-producing regions. In the physical market, trading activity has weakened, with declining transaction volumes and weaker basis prices. Recently, increased trading for February-March and March-May contracts has been observed, as short positions have appropriately replenished supplies. Expectations of tight post-holiday soybean oil supply have diminished.