Overseas Market Update

The US Dollar Index rose by 0.06% on the 10th, closing at 102.99 in the foreign exchange market.

WTI crude oil futures settled up by 3.56%, at $75.85 per barrel, while Brent crude oil futures settled up by 3.68%, at $79.40 per barrel.

COMEX gold futures closed up by 0.81%, at $2647.3 per ounce, and COMEX silver futures closed up by 2.1%, at $31.38 per ounce.

London base metals all closed higher, with LME copper futures up by 0.65% at $9737.5 per ton, LME zinc futures up by 2.62% at $3099 per ton, LME nickel futures up by 0.89% at $17525 per ton, LME aluminum futures up by 1.97% at $2591 per ton, LME tin futures up by 0.88% at $32770 per ton, and LME lead futures up by 0.58% at $2074 per ton.

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The Chicago Board of Trade agricultural futures main contracts closed mixed, with soybean futures down by 0.59% at 1014.25 cents per bushel, corn futures down by 0.65% at 418.25 cents per bushel, and wheat futures up by 0.63% at 602.75 cents per bushel.

News Express

[Oil Plant Shutdowns Lead to Reduced Soybean Meal Production and Continued Significant Reduction in Inventory]

According to China Grain and Oils Information Network, during the National Day holiday, some oil plants ceased operations, leading to a decline in soybean meal production. Coupled with an increase in pre-holiday pick-up volumes, soybean meal inventory saw a significant drop. However, compared to the same period in previous years, it remains at a high level. Monitoring data from China Grain and Oils Information Network shows that as of the end of the 40th week of 2024, domestic soybean meal inventory stood at 1.138 million tons, a decrease of 219,000 tons or 16.13% from the previous week's 1.357 million tons. Among them, coastal inventory was 978,000 tons, a decrease of 166,000 tons or 14.52% from the previous week's 1.144 million tons.

[US Unadjusted CPI for September at 2.4%, Expected 2.3%]The United States' unadjusted CPI annual rate for September recorded 2.4%, marking the sixth consecutive month of decline and reaching a new low since February 2021, but higher than the market's expected 2.3%; the unadjusted core CPI annual rate for September was 3.3%, versus the expected 3.2% and the previous value of 3.20%; the number of initial jobless claims for the week ending October 5th in the United States was 258,000, higher than the expected 230,000 and the previous value of 225,000.

【Houthi Forces in Yemen Claim Attack on a U.S. Oil Tanker】

According to a report by Xinhua News Agency on the 10th, a spokesman for the Houthi forces in Yemen, Yahya Sarea, stated on the 10th that the group had attacked a U.S. oil tanker in the Red Sea in the early morning and another vessel in the Indian Ocean. Following the outbreak of a new round of Israeli-Palestinian conflict in October last year, the Houthi forces in Yemen have repeatedly targeted locations in the Red Sea and the Arabian Sea using drones and missiles.