Shouchuang Futures: Capital sentiment remains cautious, and the upward momentum of domestic oil and fats has slowed down

Today, the overall upward momentum of domestic oilseed futures has slowed, with prices generally pulling back after rising during trading hours. Overnight, crude oil experienced wide fluctuations, which limited the gains in U.S. soybean oil, although it rose again significantly during the day. Due to the slowdown in international oilseed prices overnight, domestic market sentiment remains cautious, leading to small profit-taking during trading, which restricts further gains for the day. Regarding oilseed costs, overnight soybean prices remained relatively stable, while rapeseed prices continued to rise. Overall, the impact of the Middle East conflict on crude oil is gradually unfolding, and short-term crude oil prices remain strong, continuing to influence international oilseed prices. Therefore, the view remains cautiously bullish on domestic oilseed futures, with continued holding of long positions in palm and rapeseed oil, as well as long positions in oilseed meal ratios. (First Capital Futures)