During the night trading session, oil and fat futures prices fluctuated within a narrow range. Supported by the sustained rise in U.S. soybean futures prices, soybean oil futures experienced a slight rebound. Market trading activity remained subdued, with a notable contraction in transaction volumes. Attention is now focused on the implementation of the U.S. biodiesel policy after the holiday and the arrival of domestic soybean supplies. According to Mysteel estimates, the projected dynamic full-sample soybean crushing volume for oil mills in February 2026 is 5.4645 million tons. If this level is actually achieved, soybean oil supply in February is expected to remain relatively ample.