Palm oil led the oils sector lower, with funds substantially increasing short positions. On the origin side, Malaysia's October palm oil exports rose 45.4% month on month, but production also recovered in tandem, and inventory pressure has not eased. Domestic commercial palm oil inventories continue to accumulate, the basis discount has deepened, pickup enthusiasm in South China has declined, and spot transactions are weak. The crude oil decline further weakened biodiesel premium expectations, and with the onset of the demand off-season, palm oil is under obvious pressure. In the short term, palm oil is expected to maintain a weak downward pattern. On the upside, watch resistance at Yuan 9,1009,150/tonne; on the downside, watch support at 9,500 yuan/mt. Focus on MPOB's October report data around November 10.