As for soybean oil, open interest continues to rise with prices moving higher. The overall trend for vegetable oils remains bullish. Currently, soybean oil prices are relatively low compared to other vegetable oils, making it a safer choice for funds from both spread and valuation perspectives. On the spot side, basis was steady to softer yesterday, with more notable declines in the Sichuan-Chongqing inland region due to strong expectations of future supply. However, inventories continued to decline before the holiday, especially in East China, where crude soybean oil exports have left total stocks relatively tight. For JuneSeptember trade, market quotes are around Yuan +200220/tonne over Y2609, suggesting limited further downside.