Palm oil and soybean oil： the spot price fell and the market fluctuated.

[The spot price fluctuates, and the market of palm oil and soybean oil varies]

The spot price of palm oil in Zhangjiagang is 7740 yuan/ton (-100), and that in Guangdong is 7720 yuan/ton (-100). The spot price of soybean oil in Zhangjiagang is 7750 yuan/ton (-90), and that in Guangzhou is 7850 yuan/ton (-40). The MPOB report has a neutral impact, palm oil continues to fluctuate widely, and the marginal improvement of supply restricts the medium and long-term upside. Indonesia raised the reference price of palm oil export, overseas demand is expected to shift to Malaysia, India will stock up in July, and the production area is limited. Soybean oil follows the fluctuation of the external market, and its operation is weak. The mixed storage of grain and oil drums has caused market demand concerns, and the US soybean supply and demand report has not been effectively guided. The narrowing of domestic soybean-palm price difference makes the substitution effect of soybean oil better, but the negative fundamentals of American soybeans drag down the price of soybean oil, which is weaker than palm oil as a whole. The recovery of palm oil production is less than expected, and the recovery of overseas palm oil demand is a risk factor.