Data from the European Commission indicates that EU imports of oilseeds and vegetable oils for the 2025/26 season are generally lower than last year, reflecting anticipated growth in domestic oilseed production and crushing volumes. As of May 31, soybean imports by the EU-27 for the 2025/26 season (which began on July 1) totaled approximately 12.38 million tonnes, a year-on-year decrease of 7% (compared to an 8% drop the previous week).

With soybean imports at approximately 12.38 million tonnes as of May 31, import demand has fallen short of the same period last year, exerting bearish pressure on soybean spot prices.

Total EU vegetable oil imports for the 2025/26 season are also below last year's levels; this weakening external demand acts as a slight bearish factor for rapeseed oil prices. Currently, the closing price for the main rapeseed oil contract (2609) on the Zhengzhou Commodity Exchange (ZCE) stood at 10,011 RMB/tonne on June 8—down 118 RMB/tonne from the previous trading day—with open interest decreasing by 32,509 lots, suggesting the market has already partially priced in these bearish expectations.

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