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Mysteel China edible oils market daily: Vegetable oils fluctuate with heightened geopolitical volatility

Source: Mysteel Jul 21, 2026 10:22
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Plant Oil Demand Price Supply
Overnight trading saw a modest upward move with reduced open interest, as prices tentatively broke above the upper edge of the recent consolidation range but lacked follow-through momentum. The daytime session's strong driverssuch as rising crude oil prices, Indonesia's aggressive push for B50, and far-term weather concernsprovided solid downside support during the night session but failed to spark a new round of upward trend. The underlying reason is that the ongoing tug-of-war between strong long-term expectations and real-world supply pressure in the producing regions continues, while weakening spot basis also dampened enthusiasm for chasing rallies. In the short term, without fresh catalysts, upside room may remain limited.

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