The night session saw the main contract rise, but open interest dropped sharply, indicating cautious capital participation. Spot basis weakened across the board. Yesterday, national trading volume was only 360 tonnes, down another 108 tonnes from the previous day, with virtually no bright spots on the demand side. Import profit stood at Yuan 147/tonne, up sharply by Yuan 111/tonne from the previous session, remaining in profitable territory, so there is still incentive for cargo procurement. High domestic inventories and the off-season for consumption continue to pressure near-month contracts, while soybean oil reserve releases further add to the overall loosening sentiment in the oils and fats complex, weighing on palm oil market sentiment. Longer-term concerns over El Nio-induced production cuts continue to provide support for deferred-month contracts.