As of May 29, rapeseed inventories at major coastal oil mills stood at 312,000 tons—an increase of 41,000 tons compared to the previous week.

As of May 29, rapeseed inventories at major coastal oil mills reached 312,000 tons, marking a week-on-week increase of 41,000 tons. With raw material supplies for rapeseed being abundant, the outlook for subsequent rapeseed meal production and supply is expected to be ample, thereby exerting downward pressure on spot prices. On June 3, 2026, the Zhengzhou Commodity Exchange (ZCE) rapeseed meal main contract (RM2609) closed at 2,310 yuan/ton—a decline of 12 yuan/ton from the previous trading day—while open interest decreased by 6,124 lots; consequently, futures prices are currently trading under short-term pressure.

The week-on-week rise in rapeseed inventories—bolstered by sufficient raw material supplies—supports an anticipated increase in subsequent crushing volumes at oil mills. This suggests an outlook of ample rapeseed oil supply, which serves as a bearish factor for spot prices. Although the ZCE rapeseed oil long-dated contracts have recently demonstrated a relatively strong trend, the short-term expectation of ample supply continues to exert some degree of downward pressure on futures prices.

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