Fundamentals:
1) ITS and AMSPEC data show that the export of horse palm from January 1 to 31 was -67% and -936%。
Logic: Boosted by technical buying, U.S. beans and U.S. soybean oil on Tuesday were affected by yesterday's domestic oil intraday, but then weakened again, of which palm oil fell significantly.
In terms of the macro environment, the dollar remained sideways until the end of the FOMC meeting, on Tuesday, under the influence of the IMF's raising of global economic growth expectations and the escalation of tensions in the Middle East.
In terms of industry, Brazil's soybean harvest is smooth and the progress is fast year-on-year, Argentina's soybean production is expected to be raised, and the weather in South America is basically normal in the next 2 weeks, but some market institutions have continued to lower Brazil's soybean production expectations in recent days, and the South American soybean discount fell to around 0, or has fully responded to the negative of South American soybean production. From the perspective of crushing profits, there is still room for oil and fat in the context of soybean meal.
The seasonal reduction of palm oil production is obvious, but the export of horse palm in January is also expected to decline, and the current price spread between vegetable palm and soybean dumplings is low.
To sum up, there is no obvious change in the fundamentals of oil and fat, and there is a high probability that oil will continue to run short in recent days.
Review: I don't know if there are any students who remember the weekly summary on January 21, mentioned in the Weibo blog post "Summary and Expectations on January 21", PP's medium-term bearish thinking (at that time it was a five-star strategy), today to complete the first target near the position, it is expected that the probability of completing the first goal is not large. The classmates who kept up with me have made out considerations today. In the range of 7420-7490, the highest touched 7540 on January 30, in line with the principle of entering the order, and the lowest touched 7342 in the day, and it was only a matter of time before the first target position of 7320 was touched in the bardo**. The late PP is still bearish in the medium term.
Technical: (There was a Weibo blog post on palm oil on January 22, you can review it, and the big idea remains the same).
Palm oil 2405
Weekly**. 
1.The weekly lifeline is 67**.
2.The pressure of 67** is obvious, and the annual line forms three supports.
3.The MACD red column is shortened and runs below the zero axis.
Daily**. 
1.The daily lifeline is the annual line.
2.The short-term 7054-7072 gap in the early stage is now the first support.
3.The daily level forms a continuous break to improve **all**.
4.The MACD green bar is enlarged, running above the zero axis.
Strategic ideas: On the fundamentals, there is no obvious change in the fundamentals of oil and oil, and it is still bearish, and there is a high probability that oil will continue to run short in recent days.
Technically, all the accumulated ** last month has been digested, ** is seriously broken, and the bearish sentiment may have continuity.
Strategic ideas:1From the medium-term monthly level, the 7000 first-line wave is 23The 6% level is still important, but there is still a probability of a breakout and recovery at the daily level.
2.The early ** gap of 7054-7072 at the daily level has been filled to 7066 today, which is an incomplete gap. At the same time, the annual line has been supported three times, and there is a probability that the annual line will be broken again.
3.The daily level of the two **continuous breakdowns** to improve all of the **system**, indicating that the downward strength is larger, **as long as there is no strength, the continuation** is also a high probability event.
Strategy 1: Medium-term bearish (
1.** Manage 10%.
2.7260-7310 range, target: 7160-7080-6980-6800-6690
3.Defense: 7380
Tips: This strategy requires the formation of a gap at the daily level**, if the gap is completely filled, it is difficult to reach the entry position. You can consider breaking the position and completely filling the vacancy, and then lay out the small **. This strategy is generally a standby strategy, and it is preferable.
Strategy 2: Short-term bearish (
1.** Manage 5%.
2.7140-7170 range, target 7080-6980-6800
3.Defense: 7250
Tips: This strategy is the idea of chasing orders, so the management needs to be reduced, if the trend is in line with the expectation of breaking, you can appropriately do a homeopathic chasing, the target below remains unchanged, and the probability of breaking 6860 below the broken position is larger.