According to data released by MPOA, Malaysia's crude palm oil production for June 120 increased by 4.76% month-on-month, with the Peninsular region posting a nearly 10% rise, exerting near-term supply-side pressure. Yesterday, two new cargo washouts were reported domestically, while the basis in the East China region has been gradually recovering. Market participants are keeping an eye on the futures-spot price spread. At present, domestic palm oil demand remains largely for essential needs, and overall CNF backwardation continues to hold. The domestic spot basis is expected to trade in a range-bound manner.