Today（Sept. 26th), the market for oilseeds and oils in China is shown as follows:

    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 inflict on the market. Add to that, narrowed price gap between Chinese 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 escalation of trade disputes with the US, blocked imports of US soybeans and basically finished soybean sales in Brazil after November may contribute to lighter-than-usual soybean arrivals during November and January next year. If such, forward soybean supply will be tight especially in the 4th quarter, which 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 and demand balance struggles in trade spats.  

    Cottonseed: Cottonseed price is hard to soar at present, for its by-product prices are stepping down despite a slight rise of cottonseed meal, in addition to dismal crush margin in oil mills and oil mills’ caution against purchasing high-priced cottonseed when new cottonseed gradually increases its share on the market. But under the intensified trade spat and small amounts of new cottonseeds on the market, as well as traffic tensions and increasing transportation fees from Xinjiang to mainland China, cottonseed price is predicted to go up modestly before new cottonseed floods into the market. 

    Summary: US soybean in overnight trading saw a technical rebound, accordingly, oils on DCE today gain further. Domestically, soybean oil and palm oil spots also rise in price with some turnover at lows. In spite of the technical rebound, US soybean overall goes on a weak performance subject to trade friction and its bumper harvest outlook. Whereas, the escalation of trade tensions actually are bullish for China's oil market, specifically, a serious soybean shortage in China to be amid trade conflicts underpin crushers to seize oil prices. Add to that, rising crude oil prices attributed to US sanctions against Iran also prop up oil performance. Yet honestly, oils performance is otherwise dwarfed by its oversupply: for one thin, soybean oil hits 1.65 Mln tonnes high in stockpiles after intensive stockpiling finishes before National Day; for another, palm oil arrivals and stockpiles this month see a spike when the export tax in Malaysia fell to zero. Under such circumstance, rises in oils are markedly smaller than in meals, and oils are exposed to frequent fluctuations amid oversupply. For all these, oils are probable to maintain the uptrend overall as long as trade friction with the US persists. Buyers may as well balance well purchases and sales, that is to say, maintain cautious if chasing high bids and make replenishment upon lower and stable prices. 

    Soybean oil: main prices for GB grade-one soybean oil in coastal areas stay at 5,720-5,800 yuan/tonnes, up 30-60 yuan/tonne, (Tianjin traders offer 5,720-5,730 yuan/tonne, Rizhao traders 5,730, Zhangjiaang traders 5,800 yuan/tonne, Guangzhou traders Y1901-110 or Y1901-100). 

    Palm oil: 24-degree palm oil prices in coastal areas range from 4,640-4,780 yuan/tonne, most increasing by 20-30 yuan/tonne (Tianjin traders offer 4,720-4,730 yuan/tonne, up 20; Rizhao 4,780 yuan/tonne, up 30; Zhangjiagang traders offer 4,730 yuan/tonne, up 30; Guangzhou traders 4,640-4,650 yuan/tonne; Xiamen 4,750 yuan/tonne, up 30). 

    Imported rapeseed oil: Prices for imported rapeseed oil rise further, among which prices in coastal areas settle at 6,320-6,520 yuan/tonne, up 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). Rapeseed oil now struggles on the market: possible soybean deficiency in supply to be amid troublesome trade issues still props up rapeseed oil performance, yet when oil stockpiling has finished after holidays, languishing demand and heavy oil stockpiles otherwise put down rapeseed oil. To be specific, rapeseed oil remain high in stockpiles at round 0.51 Mln tonnes despite a tad lower in recent three weeks, soybean oil at around 1.65 Mln tonnes, add to that, palm oil arrivals also see a spike this month after Malaysia lowers its export duty to zero. All in all, there is still limited upward potential for rapeseed oil, but as long as trade woes remain unsolved, rapeseed oil is overall to trade up. Buyers thereby had better maintain proper stock level upon bargain hunting. 

    Cottonseed oil: Today cottonseed oil price goes down by 30 partially for its weakened demand under the oversupply of staple oil and the end of festival stockpiling. But oils on DCE go on to increase, followed by soybean oil spots to increase by 30-50. Besides, oil mills are active in propping up prices considering that cottonseed oil output is limited by the low operation rate in cottonseed oil mills, in addition to its low price seen in years. So cottonseed meal price takes no plunge, and it will see narrow fluctuation in the short run.