Post-holiday market transactions were relatively light. Yesterday, soybean oil trading volume was moderate, and the pace of product pickup slowed. Basis prices are expected to gradually converge toward the MayJune levels. Additional soybean oil exports for JulyAugust were booked yesterday. Based on calculations, the IndiaChina soybean oil price spread exceeds $150/ton, indicating that domestic soybean oil remains relatively cost-competitive. On the palm oil front, market rumors suggested one cargo cancellation for May shipments. Attention should be paid to the movement of the soybean oil-palm oil spread on the September contract.