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Mysteel China edible oils market daily: USDA acreage report released; three major vegetable oils weaken in range-bound trading

Source: Mysteel Jul 01, 2026 10:17
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Plant Oil Demand Price Supply
Overnight, the U.S. Department of Agriculture (USDA) released its annual soybean planted acreage and quarterly stocks report. U.S. soybean planted area for 2026 came in at 85.365 million acres, up 5.1% year-over-year. As of June 1, total U.S. soybean stocks stood at 1.061 billion bushels, an increase of 5.3% year-over-year. Planted acreage was in line with market expectations, while quarter-end stocks came in higher than anticipated. Soybean oil futures traded lower with volatility. On the spot side, national soybean oil transaction volume reached 45,000 tonnes yesterday. Near-month basis for JuneJuly remained relatively stable with light fluctuations. Currently, crusher operating rates remain high, and the basis is expected to continue its range-bound movement in the near term.

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