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Mysteel China edible oils market daily: Soybean oil and palm oil rebounded while rapeseed oil pulled back

Source: Mysteel Oct 21, 2026 10:41
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Plant Oil Demand Price Supply
Palm oil performed stronger than soybean oil and rapeseed oil in the night session. On the origin side, MPOB data showed that Malaysia's palm oil stocks in September unexpectedly surged to 3.51 million tonnes (+24.54% MoM), while domestic commercial inventories also accumulated to 1.16 million tonnes. The fundamental "weak reality" remains unchanged, and inventory buildup pressure persists. However, far-month logic is active. Recently, vessel purchase margins have been favorable, and last week more than 10 new vessel purchases were added for February, September, and October 2027 shipment dates. Attention will be on this week's vessel purchases and washouts; SPPOMA showed that October 1-5 production fell 5.97% MoM, initially showing an inflection point, and El Nino has triggered expectations of production cuts in 2027. The night-session rebound may have been boosted by external market stabilization or vessel purchase expectations.

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