On October 9, the soybean oil commodity index was 58.46, up 0.16 points from yesterday, down 41.84% from the cyclical peak of 100.51 points (2011-09-12), and up 16.87% from the lowest point of 50.02 on December 18, 2018. (Note: Period refers to 2011-09-01 to date)

On October 9, the palm oil commodity index was 60.92, up 1.26 points from yesterday, down 46.03% from the cyclical peak of 112.88 points (2012-04-10), and up 18.20% from the lowest point of 51.54 on December 16, 2018. (Note: Period refers to 2012-03-01 to date)

On October 9, the rapeseed oil commodity index was 74.65, up 0.52 points from yesterday, down 33.86% from the cyclical peak of 112.86 points (2012-09-23), and up 22.24% from the lowest point of 61.07 on December 27, 2018. (Note: Period refers to 2012-03-01 to date)

According to the monitoring of SunSirs: after the festival, the oil sector has opened the door red, and the prices of soybean oil, palm oil and rapeseed oil have risen simultaneously. As of October 9, the average market price of soybean oil was RMB 5,976 yuan per ton, up 0.96% and 13.19% in three months. The average price of palm oil in the market was 4814 yuan per ton, up 2.12% from pre-festival and 14.24% in three months. The average market price of rapeseed oil was RMB 7,517 yuan/ton, up 1.35% from pre-festival and 6.07% in three months.

After the National Day, futures market speculation rose again. Before the festival, USDA issued a quarterly grain inventory report, which was overwhelming. The main contract of soybeans rose from 880 to 920 in a week, an increase of more than 4%. After the festival, Meidou is expected to usher in a snowstorm with delayed harvest and serious market concerns. CBOT soybean futures prices continue to rise, stimulating the domestic oil futures market and oil futures sector to rise for two days.

The main contract of soybean oil on the 8th day closed at RMB 5,938 yuan/ton, with the price rising by RMB 56 yuan/ton. On the 9th, the main contract of soybean oil closed at RMB 5998 yuan/ton, and the price rose by 66 yuan/ton. The main contract of even palm oil on the 8th day was 4716 yuan/ton, up RMB 32 yuan/ton; on the 9th day, even palm oil was RMB 4792 yuan/ton, up RMB 96 yuan/ton. The main contract of Zhengzhou rapeseed oil was RMB 7160 yuan/ton on the 8th, up RMB 62 yuan/ton; on the 9th, Zhengzhou rapeseed oil was RMB 7260 yuan/ton, up RMB 106 yuan/ton.

Futures market boosted. During the National Day, soybean oil factories stopped and repaired one after another. The pressure of oil market supply was relieved. Lido supported the increase of oil spot price. The mainstream price of soybean oil spot exceeded the RMB 6000 yuan mark. Palm oil rose the most dramatically, with a daily increase of RMB 50-70 yuan/ton, an increase of more than 2%. Rapeseed oil in soybean oil, palm oil, two major vegetable oil boosted, 9 ushered in a surge.

SunSirs agricultural product analyst believes that the oil surge in this round is mainly due to news hype, plus oil is in the peak season of consumption. In the future, imported soybeans will come on the market one after another, with the increase of oil plant startup rate and supply pressure, it will be difficult for oil plate to have room for a big rise in the future market, or will be weak downward, with palm oil falling the most, soybean oil followed by rapeseed oil or will be the smallest.

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