Palm oil closed higher in night trading. On the spot market, most regions have rolled over to the January 2026 contract for palm oil. Yesterday, three new purchase vessels were added for September and October shipments. Profit margins for September shipments remain favorable against the futures curve, but September arrival pressure is relatively high. Domestic spot basis offers are stable for now. On the forward curve, Indonesia's B50 policy and El Nio-related production cut expectations continue to provide underlying support for far-month contracts. The near-term pattern of weak nearby months and strong far months persists. Attention should be paid to DSI updates and progress on Indonesia's B50 implementation.