It rose in the overnight session, tracking the oils and fats complex. SGS data showed Malaysia's palm oil exports for September 1-15 at 528,839 tons, up 14.99% month-on-month, while September 1-20 production rose 21.32% month-on-month and exports fell 12.80% month-on-month, indicating emerging supply pressure at the origin. Domestically, concentrated arrivals in September-October continued to pressure the market, inventories kept accumulating, and the deep soybean-palm oil price inversion weakened market liquidity, pressuring spot prices and basis. Although far-month contracts carry weather premium expectations, the short-term weak reality dominates the market, and basis may continue to weaken after the holiday. Key areas to track include Malaysian exports, domestic arrivals, El Nio, Indonesia's biofuel policy, and domestic buying pace.