Soybean: DCE No. 1 soybean futures settled higher WoW, supported by expectations of tighter future supply stemming from a year-on-year reduction in planting area and rising production costs in China. However, near-term upside remains capped by sufficient spot supplies and ongoing reserve auctions, which continue to weigh on market sentiment.
Edible Oil: Domestic vegetable oils market saw divergent movements last week amid a tug-of-war between sharply higher crude oil prices and differences in domestic fundamentals, which led to varied performance across individual products. Specially, palm oil and rapeseed oil posted strong gains, while soybean oil edged lower due to mounting domestic inventory pressure.
Hog: National hog prices continued to decline last week under pressure from rising marketing volumes and weak seasonal demand, though a modest recovery may emerge later this week.
Grain: Corn prices moved lower across most regions last week due to increased traders' selling, reduced industrial demand, and cautious feed procurement. The prices are expected to stay generally stable-to-weak in the near term.
Cotton: ZCE cotton futures dipped early in the week on reserve auction pressure but recovered later. Continued cotton reserve offerings have added to market supply during the traditional textile off-season. Therefore, the cotton prices are likely to remain rangebound.
