Imported soybean: Prices for most imported soybeans keep stable, where non-GM imported soybean prices at 3,680-3,980 yuan/tonne, and GM imported soybeans are unquoted. Such ample supply and high stockpiles of imported soybeans no doubt will further inflict on the market. Narrowed price gap between domestic soybeans and imported ones undermines price competitiveness of imported soybeans, and limited delivery also puts bearish pressure on imported soybeans available for distribution. Subject to escalating trade disputes with the US, blocked imports of US soybeans and basically finished soybean sales in Brazil after November may contribute to lower-than-usual soybean arrivals during November and January next year. If such, forward soybean supply will be tight especially in the 4th quarter when Brazilian soybeans are sold out. That also leads to crushers' strong wills to soybean bids. On the whole, imported soybeans for distribution in the short run will probably trade sideways narrowly and steadily the time market supply & demand balance struggles in trade spats. 

    Cottonseed: Today, some cottonseeds at lows see rises of 0.04 yuan/kg, ascribed to the escalating tensions, the already tight cottonseed supply in mainland China, and oil mills’ difficulty in procurement under wet weather in some areas, coupled by traffic tensions and increasing transportation fee from Xinjiang to mainland China. But the rise is constrained by its own low ending demand, declining cottonseed oil price, weak upward trend of cottonseed meal and the caution of oil mills in purchasing under thin margins from cottonseed crush. Overall, short-term cottonseed price is predicted to have narrow fluctuations.

    Summary: US soybeans experienced a technical rebound after down to a ten-year low, accordingly, oils on DCE today also move downward. Soybean oil and palm oil spots also come down in price amid unsatisfactory turnover. Vulnerable to bumper harvest of US soybeans and stagnant exports in time of trade disputes, futures on DCE overall maintain weak performance. Soybean oil now continue to grow in stocks helped by recovered soybean crush, additionally, good import margins at 210 yuan/tonne of soybean oil sourced from Argentina also lead to more imports later. Yet demand for oils struggles when stockpiling for packing oil is basically near the end. That is to say, heavy soybean oil supply together with more palm oil arrivals recently hovers above oil performance in the near term. Generally, oils shorter term will not show a steep decline in price, when escalating trade tensions expose China to large soybean shortage onwards and traders in midstream and downstream applaud forward basis and bode well for later market performance. Buyers are suggested to stay on the sidelines and make proper replenishment when prices go steady and low. 

    Soybean oil: main prices for GB grade-one soybean oil in coastal areas stay at 5,650-5,730 yuan/tonne, some down 10-20 yuan/tonne (Tianjin traders offer 5,650-5,660 yuan/tonne, Rizhao traders 5,650 yuan/tonne, Zhangjiagang traders 5,730 yuan/tonne, Guangzhou traders Y1901-110). 

    Palm oil: 24-degree palm oil prices in coastal areas are mostly between 4,640 and 4,770 yuan/tonne, most down 20-50 yuan/tonne (Tianjin traders offer 4,730-4,740 yuan/tonne, down 20; Rizhao 4,770 yuan/tonne, down 30; Zhangjiagang traders offer 4,700 yuan/tonne; Guangzhou 4,640 yuan/tonne; Xiamen 4,750 yuan/tonne, down 50). 

    Imported rapeseed oil: Prices for imported rapeseed oil fall sharply, among which prices in coastal areas come into at 6,290-6490 yuan/tonne, down 10-20 yuan/tonne (Chinatex in Zhangzhou, Fujian stops to quote, Shenheng in Dongguan, Guangdong 1901-350; Maple in Fangchenggang, Guangxi offers 1901-260 upon basis). Oil stockpiling ahead of Chinese holidays is about to finish, yet oils still bear considerable pressure from oversupply. Add to the pressure, the Statistics Canada predicts canola production in year 2018 will be around 21 Mln tonnes, a tad lower than last year but still higher than 19.2 Mln tonnes estimated by farm survey this July, therefore rapeseed oil is seen dragged down in performance. Yet amid escalating trade fights with the US, rapeseed oil shorter term is not to fall a lot, but to move upward on a small scale with nagging concerns over soybean shortage onwards. Buyers had better make replenishment upon low and stable prices. 

    Cottonseed oil: Soybean oil on DCE today continues to fall, and spot price of soybean oil falls by 10-20 partially. Cottonseed oil also sees some falls of 50-100 due to its own weakened demand under the end of festival stockpiling and the oversupply of staple oils. But the escalating trade spats is bullish for domestic oil market, so there is little space for cottonseed oil price to go down, especially amid its limited supply and underpriced status quo. Buyers can just wait until prices fall steadily.