Palm oil also experienced a volatile, slightly lower session overnight. On the spot front, basis levels remained largely stable across most regions, trading in a range-bound pattern overall, with transaction activity generally subdued. Market participants mostly adopted a wait-and-see approach. Cargo-buying margins continued to improve, though no new vessel purchases were added yesterday. Given the favorable profit outlook, market attention will remain on future shipping schedules and margin dynamics. Indonesia's B50 mandate, Malaysia's plan to raise its blending ratio, and El Nio-related production cut expectations continue to provide underlying support for forward prices. The near-weak, far-strong pattern is expected to persist in the near term, with prices likely to maintain range-bound trading. Attention should also be paid to DSI developments and the progress of Indonesia's B50 policy.