Oil semi-annual report: oil futures have bottom support but lack of drive

Golden Ten Futures June 25th news, oil in the annual level of production growth and consumption growth is basically the same, the supply and demand structure level of the lack of core driving; palm oil reality is strong, but medium-term expectations are weak. Vegetable oil reality is weak, but the new crop production reduction expectations are strong. Soybean oil reality is weak, expectations are weak, but the price has strong support. At the quarterly level, the oil spot supply is sufficient and the price is expected to continue to be weak. The oil futures price has bottom support but lacks drive. The supply and demand driving variables come from: the European Union's production reduction; Indonesia's production reduction; Canada's new crop production. Otherwise, the macro drive is needed to raise the overall cost of foreign oil and fat, which will be transmitted to China.