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China oils market daily: Soybean oil futures traded in a narrow range, with basis prices coming under downward pressure

Source: Mysteel Feb 28, 2026 09:42
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Plant Oil Soybean Demand Price Supply
In the night session, soybean oil trended weak with fluctuations, while palm oil was somewhat boosted by expectations of production changes in Malaysia. In the short term, no clear trend is evident in the market. Due to geopolitical conflicts, the rise in crude oil prices is expected to bolster the performance of vegetable oils. On the spot side, market transactions remained light, and basis prices came under pressure, trending downward.

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