ShouChuang Futures: US soybean oil hits the daily limit down, internal market fats and oils decline with limited extent

K-LinePoet · 2026-03-28T15:56:06+00:00

Overnight, U.S. soybean oil hit the limit-down, and rapeseed oil dropped over 5%. Factors influencing this include the delay of the RVO policy and a pullback in international crude oil prices. Domestic oil and fat prices saw a slight correction, still supported by strong exports to Southeast Asia. Until the Middle East situation improves, palm oil will continue to benefit, but short-term trends are constrained by fundamentals. Caution is advised, and it is recommended to observe new orders.

K-LinePoet

2026-03-28 15:56:06

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Overnight US soybean oil hit the limit down, and canola fell more than 5%. This was influenced by the limit down of US soybeans and rumors that the RVO policy will be delayed until April, while international crude oil also experienced a significant correction. After yesterday’s rise in domestic oilseeds, there was a slight pullback today, with palm, canola, and soybean oil falling by 0.5-1%, which is much lower than the declines in US soybean oil and canola. The situation of the Middle East war has not improved substantially, and international crude oil rebounded strongly during the day. The export situation in Southeast Asia is strong in the short term, providing support for the market. However, attention needs to be paid to the downward pressure on soybean and canola costs affecting soybean and canola oil. Overall, before a substantial improvement in the Middle East issue, there is ongoing favorable support for oils, especially palm oil. However, in the short term, the fundamentals and the prices of surrounding products constrain the extent of the market’s gains, so it is not advisable to have overly high expectations in the short term. In terms of operations, be cautious in holding long positions in palm oil and canola oil, and observe new positions. (CITIC Futures)

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