Daily Futures Market Highlights (2026-01-27)

1. According to CONAB, the National Commodity Supply Company under Brazil's Ministry of Agriculture, as of January 24, Brazil's soybean planting rate is 99.1%, up from 98.6% last week, 99.2% in the same period last year, and a five-year average of 99%; Brazil's soybean harvest rate is 6.6%, up from 2.3% last week, 3.2% in the same period last year, and a five-year average of 7%.
2. According to data from the China Steel Association, as of mid-January 2026, the steel inventory of key steel enterprises is 16.13 million tons, an increase of 1.09 million tons or 7.3% compared to the previous ten days; the total crude steel production of key steel enterprises is 19.79 million tons, with an average daily output of 197,900 tons, a 0.9% decrease day-on-day.
3. Data released by the Malaysian Palm Oil Association (MPOA) indicates that Malaysia's palm oil production from January 1-20 is estimated to have decreased by 14.43%, with the Peninsula decreasing by 14.29%, Sabah by 11.12%, Sarawak by 23.21%, and Borneo by 14.6%.
4. OPEC+ representatives stated that, in response to global oversupply and geopolitical risks, the organization expects to adhere to the plan to maintain current oil production levels at next month's meeting.
5. The International Aluminum Institute (IAI) data shows that global alumina production in December 2025 was 13.566 million tons, compared to 12.825 million tons in the same period last year, and a revised figure of 13.118 million tons for the previous month. It is expected that China's alumina production in December will be 8.170 million tons, revised from 8.000 million tons in the previous month.
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