01 Rapeseed

Week 5 (January 26-30, 2026): National average price of rapeseed (net seed): 3.60 yuan/jin; Anhui rapeseed price: 3.08-3.18 yuan/jin; Hubei rapeseed price: 3.02 yuan/jin; Jiangsu rapeseed price: around 3.18 yuan/jin; Hunan rapeseed price: 3.15-3.20 yuan/jin; Sichuan rapeseed price: 3.10 yuan/jin. Rapeseed market conditions in various regions this week are as follows:

Weekly Review:

This week, domestic rapeseed prices showed a fluctuating upward trend. Currently, the supply of high-quality rapeseed in China remains tight, and the market generally has a reluctance to sell, leading to price increases for high-quality products. On the demand side, downstream demand is mainly for replenishing inventory for immediate needs, resulting in slow trading and sluggish sales. The Sino-Canadian rapeseed trade policy remains unclear, and market expectations remain generally optimistic.

It is expected that rapeseed prices will likely remain stable in the short term, without significant price fluctuations. Increased long-term supply of Canadian rapeseed is a foregone conclusion, becoming the core factor suppressing market prices. Overall, the market is expected to remain stable before the Spring Festival, and the future market will depend on Sino-Canadian trade relations, the arrival of Canadian rapeseed, and the pace of recovery in downstream demand.

02 Rapeseed Oil

In week 5 (January 26-30, 2026), the national average price of grade 4 rapeseed oil was 10,230 yuan/ton, a slight increase compared to the previous week. Reference prices for grade 4 rapeseed oil in various regions are as follows: 

Weekly Review: 

In the futures market, rapeseed oil futures prices rose sharply this week. The main rapeseed oil contract (2605) closed at 9,380 yuan/ton on Friday. Several factors influenced the rapeseed oil price trend this week: First, expectations for the direction of US biodiesel policy were positive. Market rumors suggested that the EPA might significantly increase the total renewable fuel quota obligation for 2026, while also reallocating the blending obligations exempted for small refineries to make up for the blending gap. Second, the recent continuous high temperatures and drought in southern Brazil and Argentina are beneficial to the soybean market. Third, the volatile US-Canada relations, with the US imposing a 100% tariff on Canada, may lead to further changes in Sino-Canadian rapeseed trade policies, increasing bullish sentiment in the market.

With Australian rapeseed not yet entering large-scale crushing, the spot supply of rapeseed oil remains tight, continuing to support prices. Coupled with increased willingness among oil mills to maintain prices, spot quotations have generally increased, and market transactions are gradually becoming more active. Meanwhile, import costs and international edible oil prices are supporting the domestic market, keeping the spot basis relatively firm. In the short term, rapeseed oil inventories are expected to continue to decline, and the downside potential for near-month rapeseed oil contracts may be limited.

03 Rapeseed Meal

The following are the reference prices for rapeseed meal in various regions for week 5 (January 26-30, 2026):

Weekly Review:

This week, rapeseed meal prices rose slightly, with prices in coastal areas increasing by 30-40 yuan/ton compared to last week. On the supply side, low inventory and slow oil mill operation supported spot prices. Additionally, the uncertain relationship between China and Canada led to positive expectations. Soybean meal's strong substitution advantage weakened rapeseed meal demand. Overall, the rapeseed meal market maintained a weak dual pattern of "low inventory supporting supply and weak demand due to the off-season," lacking a sustained unilateral driver, and short-term trends were mainly characterized by fluctuations and adjustments.