Today (Aug. 15th), the market for oilseeds and oils in China is shown as follows:

 

Imported soybean: Imported soybean price is steady today, among which Russian soybean is unchanged at 4150 yuan/tonne from yesterday. The market is supported by the small amount of imported and distributed soybean in Tianjing port and the short-term US soybean import restriction due to the uncertainties over trade war when White House trade adviser said there are still seven structural issues the U.S. needs to work out with China, according to Bloomber and the time of September trade talk has not been confirmed. However, the bumper crop harvest in South America and huge global supply still still curbs China's imported and distributed soybean market. Short-term prices likely maintain stable.

Cottonseed: Cottonseed prices today partially fluctuate between 0.02-0.04 yuan/kg with most purchase activities suspending, due to the declining supply of cottonseed, and a certain period before the marketing of new cottonseed. However,  the upward potential is curbed because the cottonseed trading is not much as most of oil mills halt the operation due to poor crush margin,  and the mills that are operating are reluctant to purchase. Short-term price is likely to go strong.

Buyers are suggested to make a small replenishment upon low price.

Summary: Rainfalls are forecast to occur in the U.S. production regions. Besides, there are still seven structural issues the U.S. needs to work out with China, according to a report by Bloomberg. And no date has been set for the trade talks between China and the U.S. in September. U.S. soybeans fell for another session last night, but oil futures fluctuate to inch higher on the Dalian Commodity Exchange (DCE) today. In spot market, soybean oil mostly increases by 10-40 yuan/tonne and some down by 20 yuan, and palm oil remain stable with some rises of 40 yuan/tonne. The trading is tepid, for buyers tend to wait when oil futures are fluctuating and in correction territory on the DCE. While soybean crush remains small, soybean oil deliveries are quickened as the market is stocking up packing oil ahead of holidays, so its inventory is decreasing. So is palm oil. The oil market is now underpinned by two main factors of better fundamentals and huge uncertainty in trade talks. Besides, the market may become keener on the weather speculation after a sharp decline in U.S. soybean planting acreage. Therefore, the overall market is predicted to stay strong. The current problem is that the trading is weaker after price surges in row last week, and there are also corrections in technical term. Overall, short-term oil market may fluctuate to adjust, but the adjusting room will be just a little. Buyers can wait for low and stable prices to see if there is any demand for replenishment. 

Soybean oil: GB Grade I soybean oil is mainly priced at 5,980-6,200 yuan/tonne in domestic coastal areas, mostly up by 10-40 yuan/tonne and partially down by 20 yuan. (Tianjin 5,990-6,000, Rizhao 5,980, Zhangjiagang 6,200, and Guangzhou 6,100). 

Palm oil: 24-degree palm oil is mainly priced at 4,750-4,910 yuan/tonne in coastal areas, partially up by 40 yuan/tonne. (Tianjin 4,840-4,850, flat; Rizhao 4,900-4,910, flat; Zhangjiagang 4,800, flat; Guangzhou 4,750, flat; and Xiamen 4,770, up 40). 

Imported rapeseed oil: Imported rapeseed oil rises in price today, of which it goes up by 10-20 yuan to settle at 7,200-7,300 yuan/tonne in coastal areas. (Fujian 7,200, stable; Guangdong not offered; and Guangxi 7,300, up 20). The import of rapeseed and rapeseed oil from Canada is still confronted with pending issues between Beijing and Ottawa, so rapeseed supply in China will get tightened. Besides, buyers are busy stocking up packing oil ahead of the festivals, and there may be frequent weather speculations on U.S. soybean crops later. Therefore, rapeseed oil market is buoyed to go relatively strong. But the demand for rapeseed oil is subject to its big price gap with soybean oil and palm oil, bringing a dismal scene to its market, and imported soybean and palm oil will arriving at ports in huge quantities; thus, rapeseed oil market may see limited rises, and the price rise of rapeseed oil is obviously smaller than that of soybean oil. Buyers are suggested not to drive up prices excessively. 

Cottonseed oil: Cottonseed oil today stays stable when operation rate and output are both low; oil market is in a busy season of restocking for packing oil amid many orders waiting for delivery; and US weather seems mostly non threatening as scattered rain falls, hitting some dry areas of the Eastern and Western Corn Belt; White House trade adviser said there are still seven structural issues the U.S. needs to work out with China, according to Bloomber and the time of September trade talk has not been confirmed; today oils on DCE slightly rise with fluctuation and spot soybean oil mostly goes up 10-40. However, cottonseed oil consumption for blending oil is at a limited level.Short-term cottonseed oil is likely to move sideways. Buyers are suggested to stay on the sideline or take a hand-to-mouth buying strategy.