Soybean: The DCE A2609 soybean contract moved rangebound, closing the week at Yuan 4,747/tonne, down Yuan 11/t WoW, as weak summer demand and sluggish state reserve auctions capped upside, while tight high-protein supplies and rising planting costs provided bottom support. The contract is xpected to trade between Yuan 4,670-4,800/t this week.
Edible Oil: Last week, domestic edible oil futures and spot prices advanced higher, lifted by rallies in U.S. soybeans and crude oil. Yet the domestic oil market remained fundamentally oversupplied, with ample supply coinciding with weak off-season downstream demand
Hog: China's national average marketing price of hog rose to Yuan 11.02/kg, up 11.99% WoW, driven by reduced marketing volumes from farming groups and a wide standard-to-fat hog spread, though a post-surge pullback occurred as terminal demand failed to keep pace.
Grain: Domestic corn prices moved steadily lower, with the national weekly average standing at Yuan 2,358/t, down Yuan 7/t WoW, as weak futures, slow trading activity, and substitute grain competition (e.g., wheat) weighed on the market, while downstream mills purchased only on an as-needed basis. This week's outlook remains soft, though cost support limits the downside risk.
Cotton: ZCE cotton futures fluctuated widely as early gains faded with heat raising production concerns in China's Xinjiang but weak downstream demand and thin orders limiting upside. The most-traded ZCE cotton futures contract is expected to trade between Yuan 15,500-16,300/t this week.
