Today ( Sept. 28th), the market for oilseeds and oils in China is shown as follows:

    Imported soybean: Prices for most imported soybeans keep stable, where non-GM imported soybean prices at 3,680-3,980 yuan/tonne, and GM imported soybeans are unquoted. Such ample supply and high stockpiles of imported soybeans no doubt inflict on the market. Add to that, narrowed price gap between Chinese soybeans and imported ones undermines price competitiveness of imported soybeans, and limited delivery also puts bearish pressure on imported soybeans available for distribution. Amid escalation of trade disputes with the US, blocked imports of US soybeans and basically finished soybean sales in Brazil after November contribute to soybean shortage concerns during December and February next year, which also leads to importer' strong wills to soybean bids in China. On the whole, imported soybeans for distribution in the short run will probably trade sideways narrowly and steadily the time market supply and demand balance struggles in trade spats. 

    Cottonseed: Today, cottonseed sees some rises of 0.03-0.04 yuan/kg, ascribed to the escalating trade tensions, small amount of new cottonseeds on market and price hikes of cottonseed meal, as well as traffic tensions and increasing transportation fee from Xinjiang to mainland China. However, there is a decrease of 0.02 yuan/kg partially due to the flat performance of other by-products, thin crush margins and oil mills’ caution against purchasing high-priced cottonseed when new cottonseed gradually increases its share on the market. On the whole, cottonseed is predicted to trend up before plenty of new cottonseed enters into the market. 

    Summary: US soybean charted a third consecutive session of gains overnight as Mexico and South America turned to US soybean purchases. Oils on DCE today otherwise move downward slightly, whilst soybean oil and palm oil spots on China's market go stable amid small variations. Honestly, today's turnover is still not much. Bumper harvest put downward pressure on US soybean, in the meanwhile, oil spots are also seen restrained from going high. To be exact, soybean oil and palm oil at home keep high in stockpiles based on relatively high operation rate in China's oil mills, but golden oil stockpiling ahead of Chinese holidays already comes to end. Add to that, palm oil stockpiles in Southeast Asia are forecast to hit a fresh high in the end of this year. Arguably, oil spots are weighed down by heavy oil stockpiles. However, intensified trade tensions still boost China's oil market, for the drastic decline of soybean arrivals in November reveals a big soybean shortage during December and February in year 2019. What's more, there is upward potential for crude oil prices in later market the time the US takes sanctions against Iran, in this way, market expects Brent crude oil to reach USD $10 a barrel. All in all, with market bullish attitude toward oils in later market, oils are expected to maintain mild uptrend provided if trade friction remains unsolved. Buyers thereby are suggested to take purchases upon bargain hunting. 

    Soybean oil: Main prices for GB grade-one soybean oil in coastal areas stay at 5,700-5,800 yuan/tonne, some up 10-20 yuan/tonne and some down 20 yuan/tonne (Tianjin traders offer 5,700-5,710 yuan/tonne, Rizhao traders 5,700, Zhangjiagang traders 5,800, Guangzhou traders Y1901-120). 

    Palm oil: 24-degree palm oil prices in coastal areas range from 4,640 to 4,730 yuan/tonne, some down 10 yuan/tonne (Tianjin traders offer 4,720-4,730 yuan/tonne, down 10; Zhangjiagang traders 4,720; Guangzhou traders 4,640; Xiamen 4,750; Rizhao traders stop to report). 

   Imported rapeseed oil: Prices for imported rapeseed oil edge down but in a stable pace, among which prices in coastal areas come into at 6,290-6,490 yuan/tonne, some down 10-20 yuan/tonne (Chinatex in Zhangzhou, Fujian stops to quote, Shenheng in Dongguan, Guangdong 1901-350; Maple in Fangchenggang, Guangxi offers 1901-260 upon basis). Intensive stockpiling for packing oils has almost finished, yet oil stockpiles remain high in China, under which struggling and languishing demand drags down rapeseed oil. Nonetheless, as long as trade woes remain unsolved, expected soybean shortage in China will help rapeseed oil to trade up mildly overall rather than suffer from a steep decline. Add to that, under US sanctions against Iran, a possible big upside for crude oil in later market also props up rapeseed oil in price. Buyers thereby had better maintain proper stock level upon bargain hunting. 

    Cottonseed oil: Today oil futures step down slightly in fluctuation, and spot price of soybean meal stay stagnant to fluctuate from 10-20 yuan/tonne. In the context of festival stockpiling completion and thin demand, cottonseed meal sees few riffles in its price. But soybean supply may get tightened by the trade spat, and oil mills are propping up prices due to a low cottonseed oil output under low operation rate; hence, cottonseed oil will fluctuate narrowly in the near term and may trend up in fluctuation before trade war end. Buyer are suggested to replenish properly on the dips.