一、品种策略跟踪 (一) 豆粕和菜粕: 震荡上涨 焦点关注:豆粕 2509 合约和菜粕 2509 合约震荡上扬,豆粕需 求增加支持豆粕走高，而菜粕涨幅较大，受到库存大幅去库的提振; 1. 下游饲料企业增加豆粕添比,豆粕需求增加,同时临近端午 假期,低库存企业积极提货补库,油厂库存仍处于历史同期低位,库 存压力不大。粮油商务网数据显示,截至第 21 周国内豆粕库存 20.8 万吨，环比增加 59.75%。而菜粕工厂成交率和提货量皆大幅增加, 且油菜籽工厂开机率处于非常低水平,菜粕库存大幅下降,粮油商务 网数据显示，截至第 21 周末，菜粕库存 2.3 万吨，环比下降 34.86%， 低库存支持菜粕走高。 两粕上涨、鸡蛋大跌 一、农产品板块综述 两粕震荡上涨,临近端午,下游企业积极提货补库,支撑豆粕价 格,菜粕价格受到库存去化的提振,两粕联袂上涨,但是由于进口大 豆集中到港,油厂开机率提升,豆粕供应增加,或限制豆粕的反弹空 间。鸡蛋持续大跌刷新低点,因养殖端蛋鸡存栏高位,供应充足,加 之天气转热,鸡蛋存储环境变差，中间商和养殖端加大抛售，鸡蛋承 压大跌,后市仍有下行空间。 2、豆粕主力 2509 合约和菜粕 25 ...

原油等待 OPEC 会议驱动:聚烯烃偏弱,芳 烃偏强格局延续 (一) 原油: 逻辑:海外宏观路径依旧不清晰,但近期美债日债拍卖出现滞销, 关注本周三次美债拍卖情况,VIX 指数有所抬头，关注周内警惕宏观 风险可能;供需方面中期 OPEC+继续加速增产,6月1日的部长级会 中期结构 短期结构 小时周期策略 品种 偏空 空単持有 原油 震荡 偏空. 偏空. 空単特有 EB 寻反抽结束做空机会 偏空. 偏空. PX 偏空 偏空 寻反抽结束做空机会 PTA 偏空 偏空 空单持有 PP 塑料 偏空 偏空 空单持有 偏空 空単持有 甲醇 偏空 小时观望,15分钟空单持有 偏空 偏多 EG 偏空 偏空 震荡区间上沿逢高空 橡胶 偏空. 偏空. 寻反抽结束做空机会 PVC 偏空 BR 橡胶 偏空 空単持有 板块观点汇总 议市交易的时间下一次节点,短期美国成品油出现累库,留意美国需 求不及预期可能;地缘方面美伊第五轮谈判后特朗普表示会谈"非常 好"，主观仍推断新伊核协议达成可能较大。 图 1. 1: 原油 2507 日线图 数据来源:天富期货研询部、文华财经 图 1. 2: 原油 2507 小时图 (二) 苯乙烯: 逻辑:库存 ...

(一) 棕榈油: 震荡下行 焦点关注:棕榈油主力 2509 合约震荡下行，持续弱势; 油脂下挫、生猪反弹 一、农产品板块综述 油脂全线下跌，豆油破位下行，跌破本月横盘区间，因进口大豆 集中到港,油厂开机率显著上升,豆油供应增加,施压期价走低。棕 榈油亦进入跌势,棕榈油进口买船增加,库存逐渐回升,当日现货价 格大幅下跌,压制棕榈油期价走低。生猪低位反弹,技术修正,月底 部分猪企有缩量拉涨心态,但是中大猪产能释放,需求淡季,生猪反 弹空间有限,主趋势仍将下行。鸡蛋再度大跌,回吐上周反弹幅度, 因蛋鸡存栏高位,鸡蛋供应充足,下游需求偏弱,鸡蛋跌势料持续。 二、品种策略跟踪 2.国内棕榈油进口成本下行,买船量增加且已超过刚需,棕榈油 库存开始累库,粮油商务网数据显示,截至第20周末,国内棕榈油 库存 30.66 万吨，周环比增加 3.79%。5 月 26 日国内棕榈油现货价格 集体下跌，天津地区跌幅较大，当日下跌 350 元/吨至 8670 元/吨。 广州和江苏棕榈油价格皆跌破 8500 至 8420 和 8470 元/吨。 1.马来西亚棕榈油产量和出口数据皆环比增长,南部半岛棕榈油 压榨商协会（SPPOMA）发布的 ...

Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoint The report analyzes multiple petrochemical products, suggesting that the polyolefin category is weak while the aromatic hydrocarbon category is strong. Overall, most products have a bearish medium - term outlook, with varying short - term trends. The report provides logical analyses and technical tracking for each product, along with corresponding trading strategies [1]. 3. Summary by Product (1) Crude Oil - **Logic**: Overseas macro - path is unclear, with potential macro - risks. OPEC+ is accelerating production increase in the medium - term, and there is a risk of US demand falling short of expectations in the short - term. There is a high possibility of a new Iran nuclear deal. - **Technical Tracking**: Mid - term and short - term downward structures on the daily and hourly levels respectively. Consider today's price increase as a rebound on reduced positions, with short - term pressure at 475. - **Strategy**: Hold short positions on the hourly cycle [1][2]. (2) Styrene (EB) - **Logic**: Low inventory, but supply is expected to increase due to early resumption of previously shut - down plants. Cost support is weak, and downstream demand has limited growth. - **Technical Tracking**: Short - term downward structure on the hourly level. Today's price decline on increased positions. Short - term pressure at 7345. - **Strategy**: Hold short positions on the hourly cycle, with the stop - profit reference moved down to 7345 [5]. (3) PX - **Logic**: PX plants are in maintenance, with low operating rates and good short - term fundamentals. However, the cost factor may dominate the market after the decline in crude oil prices. - **Technical Tracking**: Short - term upward structure on the hourly level. Today's intraday oscillation. Short - term support refers to the low on May 13. - **Strategy**: Wait for a short - selling opportunity after the support is broken [9]. (4) PTA - **Logic**: Supply - side plant operating rates are increasing, but there are concentrated maintenance plans in the second quarter. Demand - side polyester operating rates are strong. However, the cost factor may dominate the market after the decline in crude oil prices. - **Technical Tracking**: Short - term upward structure on the hourly level. Today's intraday oscillation. Short - term support refers to the low on May 13. - **Strategy**: Wait for a short - selling opportunity after the support is broken [13]. (5) PP - **Logic**: Supply - side operating rates are stable, but new production capacity is expected to come on stream in June. Domestic demand is in the off - season, and downstream demand support is insufficient. - **Technical Tracking**: Short - term downward structure on the hourly level. Today's intraday oscillation with significant position increases, indicating strong downward momentum. - **Strategy**: Hold short positions on the hourly cycle, with short - term pressure and stop - profit referring to the high on May 21 [17]. (6) Methanol - **Logic**: Domestic operating rates have decreased slightly due to plant maintenance, but overseas operating rates are increasing, and imports are expected to rise in June. Demand is basically flat year - on - year, and the market is under pressure. - **Technical Tracking**: Downward structure on the hourly level. Today's intraday oscillation, with price increases on reduced positions and decreases on increased positions. - **Strategy**: Hold short positions on the hourly cycle, with the stop - profit reference at the high on May 22 [18]. (7) Rubber - **Logic**: Demand is weak, with high inventories of terminal automobiles and tires. There is no expectation of export demand recovery, and the EU has launched an anti - dumping investigation. Domestic inventories are accumulating against the season. - **Technical Tracking**: Mid - term downward structure on the daily level and short - term oscillatory structure on the hourly level. Today's price decline on increased positions. The upper pressure of the oscillation range refers to the high on April 8. - **Strategy**: Adopt a short - selling strategy at the upper edge of the oscillation range on the hourly cycle [21]. (8) PVC - **Logic**: Real - estate data in April is still poor, and downstream demand is difficult to improve. Plant maintenance is ending, and supply is expected to increase. - **Technical Tracking**: Mid - term and short - term downward structures on the daily and hourly levels respectively. Today's intraday oscillation. Short - term pressure at 4980. - **Strategy**: Look for short - selling opportunities after a reversal pattern on the hourly cycle [24]. (9) Ethylene Glycol (EG) - **Logic**: Supply - side operating rates have decreased slightly, and arrivals are increasing. Demand - side polyester operating rates remain high. - **Technical Tracking**: Mid - term downward structure on the daily level and short - term upward structure on the hourly level. Today's intraday oscillation. Short - term support at 4315. - **Strategy**: Observe on the hourly cycle and hold short positions on the 15 - minute cycle, with the stop - loss at 4455 [25]. (10) Plastic - **Technical Tracking**: Mid - term and short - term downward structures on the daily and hourly levels respectively. Today's intraday oscillation. Short - term pressure at 7120. - **Strategy**: Hold short positions on the hourly cycle, with the stop - profit moved down to 7120 [27]. (11) Synthetic Rubber (BR) - **Logic**: In June, plants are expected to resume production after maintenance, leading to a potential increase in butadiene supply. Demand is weak due to high inventories of terminal automobiles and tires. - **Technical Tracking**: Mid - term and short - term downward structures on the daily and hourly levels respectively. Today's long - negative candlestick. The upper pressure refers to 12120. - **Strategy**: Hold short positions on the hourly cycle [29].

油脂震荡、白糖下挫 一、农产品板块综述 油脂板块先扬后抑,马棕油产量和出口环比皆增加,但产量增幅 大于出口增幅,库存有增加预期,加之原油走软削弱棕榈油生柴吸引 力,棕榈油反弹空间受限,后市或偏弱运行。白糖受外盘跌势拖累而 下挫,国内进口糖利润窗口打开,后市到港量或将增大,对白糖带来 潜在供应压力,糖价短期或偏弱波动。生猪持续下跌,标肥价差倒挂, 中大猪产能释放,天气升温后猪肉需求转弱,施压猪价下跌,弱势料 持续。 二、品种策略跟踪 (一) 棕榈油:先扬后抑,震荡偏弱 焦点关注:棕榈油主力 2509 合约先扬后抑,收长影线小阳,行 情震荡,弱势未变: 1.原油走软削弱棕榈油生柴吸引力,马来西亚棕榈油产量和出口 数据环比增长,南部半岛棕榈油压榨商协会(SPPOMA)和 MPOA 发 布的高频数据显示,5月1-20日马来西亚棕榈油产量环比增长3.72% 和 3.51%,而出口亦增长,相关检验机构高频数据显示 5月1-20 日 马来西亚棕榈油出口量环比增加 1.55%和 1.53%。产量增幅大于出口 增幅,棕榈油库存有增加预期,棕油期价反弹受限,震荡回落。 2.国内棕榈油进口成本下行,买船量增加且已超过刚需,棕榈油 ...

Report Industry Investment Rating No relevant information provided. Core Viewpoints - Focus on the US-Iran talks today for crude oil, and continue to look for shorting opportunities in polyolefin varieties [1] - Most of the analyzed commodities have a bearish or cautious outlook due to factors such as supply - demand imbalances, cost pressures, and geopolitical issues Summary by Commodity Crude Oil - **Logic**: OPEC+ discussing large - scale production increase in July and potential new Iran nuclear deal create supply - demand concerns; medium - term supply surplus exists [2][3] - **Technical Analysis**: Daily - level medium - term decline, hourly - level short - term oscillation; hold short positions on the hourly cycle [2][3] Styrene (EB) - **Logic**: Cost pressure from falling crude oil, increased supply expected due to ethylene plant maintenance recovery and new capacity in Q2 [6] - **Technical Analysis**: Hourly - level short - term decline; hold short positions on the hourly cycle with a stop - loss at 7465 [6] PX - **Logic**: Low profit, ongoing plant maintenance, increased downstream PTA demand; cost logic dominates after crude oil decline [7][10] - **Technical Analysis**: Hourly - level short - term rise; wait for shorting opportunities after breaking the support [10] PTA - **Logic**: Both supply and demand increase, but cost logic dominates after crude oil decline [11][13] - **Technical Analysis**: Hourly - level short - term rise; wait for shorting opportunities after breaking the support [13] PP - **Logic**: Limited impact from ethylene plant failure, narrowing export profit, future supply and cost pressures [17] - **Technical Analysis**: Hourly - level short - term decline; hold short positions on the hourly cycle, with short - term pressure and take - profit at the May 21 high [17] Methanol - **Logic**: Slightly lower domestic start - up, low traditional demand, potential port inventory build - up [18] - **Technical Analysis**: Hourly - level decline; hold short positions on the hourly cycle, with take - profit at the May 22 high [18] Rubber - **Logic**: Short - term positive sentiment digested, high tire inventory, low demand, potential supply increase [21] - **Technical Analysis**: Daily - level medium - term decline, hourly - level short - term oscillation; short at the upper end of the range on the hourly cycle [21] PVC - **Logic**: Expected increase in start - up after maintenance, weak terminal real - estate demand [25] - **Technical Analysis**: Daily - level medium - term decline, hourly - level short - term decline; look for shorting opportunities on the hourly cycle [25] Ethylene Glycol (EG) - **Logic**: Improved demand from polyester, but future supply pressure from new ethylene capacity [27] - **Technical Analysis**: Daily - level medium - term decline, hourly - level short - term rise; hold 15 - minute short positions, stop - loss at 4455 [27] Plastic - **Technical Analysis**: Daily - level medium - term decline, hourly - level short - term decline; transfer 15 - minute short positions to the hourly cycle [28][30] Synthetic Rubber (BR) - **Logic**: Limited impact from ethylene plant failure, future supply increase of butadiene putting pressure on cost [32] - **Technical Analysis**: Daily - level medium - term decline, hourly - level short - term decline; transfer 15 - minute short positions to the hourly cycle after breaking support [32]

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The new round of production increase plan has pushed crude oil to increase positions and decline again, and polyester has followed. Polyolefins continue to focus on short - selling opportunities [1] - The mid - term supply - demand surplus logic of crude oil always exists, and short - term geopolitical factors focus on the fifth round of US - Iran negotiations on Friday. The next time node driven by mid - term supply surplus is the OPEC+ monthly meeting on June 1st [1] Group 3: Summary by Related Catalogs Crude Oil - Logic: The news of OPEC+ discussing large - scale production increase in July pushed crude oil to increase positions and form a long negative line in the afternoon. The mid - term supply - demand surplus logic exists, and there is a tendency for a new Iran nuclear agreement. The short - term geopolitical focus is on the US - Iran fifth - round negotiation on Friday. The next time node driven by mid - term supply surplus is the OPEC+ monthly meeting on June 1st [1] - Technical Analysis: The daily - level mid - term structure of crude oil is in a downward trend, and the hourly - level short - term structure is in a shock. Today, it increased positions and formed a long negative line, and the end of the session accelerated the decline. The short - term may test the previous low. The strategy is to hold short positions in the hourly cycle [1][2] Styrene (EB) - Logic: There is pressure from the decline of crude oil at the cost end. At the supply end, the ethylene plant maintenance is restored, new production capacity is put into operation in the second quarter, and the supply is expected to increase strongly under the current high profit of styrene [5] - Technical Analysis: The hourly - level short - term structure of styrene is in a downward trend. Today, it increased positions and formed a long negative line. The strategy is to hold short positions in the hourly cycle, with the stop - loss referring to yesterday's high [5] PX - Logic: PX profit is at a low level, the device is still in the maintenance period, the downstream PTA start - up rate is increasing, the demand is improving, and the short - term fundamentals are good. However, after the decline of crude oil at the cost end, the cost logic dominates the market [7][10] - Technical Analysis: The hourly - level short - term structure of PX is in an upward trend. Today, it decreased positions and formed a long negative line with the decline of crude oil. The short - term support refers to the low point on May 13th. Wait for the opportunity to short after breaking the support in the hourly - cycle strategy [10] PTA - Logic: The supply - end devices of PTA have increased, and at the same time, the polyester load and textile start - up rate at the demand end have also increased. The short - term fundamentals have improved, but after the decline of crude oil at the cost end, the cost logic dominates the market [11][14] - Technical Analysis: The hourly - level short - term structure of PTA is in an upward trend. Today, it decreased positions and formed a long negative line with the decline of crude oil. The short - term support refers to the low point on May 13th. Wait for the opportunity to short after breaking the support in the hourly - cycle strategy [14] PP - Logic: Last week, the fault shutdown of Hengli's ethylene plant involved 2% of PP production capacity, and the actual impact was limited. After the expectation of demand improvement brought by the Sino - US easing, the actual export profit has narrowed, and the short - term export demand is difficult to have obvious increments. In the future, it will still face the supply pressure brought by the restart of the device and the cost pressure brought by the decline of crude oil [18] - Technical Analysis: The hourly - level short - term structure of PP is in a downward trend. Today, it increased positions and declined without changing the downward path. The strategy is to hold short positions in the hourly cycle, with the short - term pressure and take - profit referring to yesterday's high [18] Methanol - Logic: The domestic start - up rate decreased slightly month - on - month, the traditional demand fell to the year - on - year low, the port inventory remained stable at a low level, but it is facing the arrival pressure of the increase in Iranian shipments in early May, and the port inventory accumulation expectation is strong [20] - Technical Analysis: The hourly - level structure of methanol is in a downward trend. Today, it increased positions and declined, continuing the downward path. The strategy is to transfer the 15 - minute - level short positions yesterday to the hourly cycle, with the stop - loss referring to the 2285 line [20] Rubber - Logic: The short - term emotional bullishness of Sino - US easing has basically been digested. Currently, tire enterprises have the highest inventory year - on - year, the start - up rate is at a year - on - year low, downstream tires are not subject to equal tariffs, there is no expectation of export demand recovery, and the EU has launched an anti - dumping investigation on Chinese tires, involving about 1.2 billion tires. At the supply end, the implementation effect of Thailand's suspension of the opening - cut order is not good, the production areas are gradually opening - cut, and the increment expectation is strong without abnormal weather, still showing a weak supply - demand expectation [24] - Technical Analysis: The daily - level mid - term structure of rubber is in a downward trend, and the hourly - level short - term structure is in a shock. Today, it fluctuated within the day. Recently, the trading volume at the upper edge of the shock range was insufficient, and it was difficult to break through. The upper pressure still refers to the high point on April 8th. Recently, it is still a narrow - range shock to repair the oversold situation by trading time for space. The hourly - cycle strategy is to short at the upper edge of the range [24] PVC - Logic: The start - up rate is the same as that of previous years, and there is an expectation of an increase in the start - up rate after the maintenance season. The terminal real - estate demand is still insufficient, and the expectation of strong supply and weak demand continues [27] - Technical Analysis: The daily - level mid - term structure of PVC is in a downward trend, and the hourly - level short - term structure is in a downward trend. Today, it increased positions and declined. The short - term pressure still focuses on the 5015 line. The hourly - cycle strategy is to look for the opportunity to short when a reversal pattern appears [27] Ethylene Glycol (EG) - Logic: The start - up rate of downstream polyester has increased, and the demand has improved. However, after the digestion of the unexpected shutdown of Hengli's ethylene plant last week, the actual involved production capacity is about 6%, but the expected shutdown time is short and the impact is limited. In the future, it will face the supply pressure brought by the large - scale release of ethylene plant production capacity [30] - Technical Analysis: The daily - level mid - term structure of EG is in a downward trend, and the hourly - level short - term structure is in an upward trend. Today, it fluctuated within the day, and the short - term support below refers to the 4315 line. The strategy is to wait and see in the hourly cycle and hold short positions in the 15 - minute level, with the stop - loss referring to the 4455 line [30] Plastic - Technical Analysis: The daily - level mid - term structure of plastic is in a downward trend, and the hourly - level short - term structure is in an upward trend. Today, it increased positions and declined. The short - term support below refers to the 7100 line. The strategy is to wait and see in the hourly cycle and hold short positions in the 15 - minute cycle, with the take - profit referring to the 7225 high [31][33] Synthetic Rubber (BR) - Logic: Last week, the fault shutdown of Hengli's ethylene plant involved about 2% of butadiene production capacity, and the actual impact was limited. After the digestion of emotions, it will face the pressure of increased butadiene supply brought by the large - scale release of ethylene plant production capacity in the future. The butadiene storage capacity is low, and the price is likely to fall sharply after inventory accumulation, putting pressure on synthetic rubber from the cost end [35] - Technical Analysis: The daily - level mid - term structure of synthetic rubber is in a downward trend, and the hourly - level short - term structure is in an upward trend. Today, it fluctuated within the day. The short - term support still focuses on the low point on May 13th. The strategy is to hold short positions in the 15 - minute level, with the stop - loss referring to the 12300 line [35][37]

Industry Investment Rating No relevant information provided. Core Viewpoints - The agricultural product sector shows mixed performance. Palm oil, apples, and pigs are under downward pressure, while soybeans are rising, and cotton remains stable. The performance of each variety is affected by factors such as supply and demand, weather, and international trade policies [1][2][4] Summary by Variety Palm Oil - The palm oil market is under pressure due to factors such as increased production, rising inventories, and falling crude oil prices. The 2509 contract has reversed and fallen sharply, and the strategy is to hold a light - short position [1][2] Soybean Meal - The soybean meal market is driven by external markets, but the expected increase in domestic soybean arrivals and inventory may limit its upward space. The 2509 contract is oscillating upward, and short - term trading is recommended [4] Soybean Oil - The soybean oil market is affected by falling crude oil prices and increased domestic supply. The 2509 contract has fallen sharply, and the strategy is to sell at high prices [6] Corn - The corn market has rebounded technically, but the upcoming large - scale arrival of new wheat and the substitution effect may resist the rebound. The 2507 contract has rebounded from a low level, and short positions should be closed [9] Pig - The pig market is under pressure due to capacity release and weak demand. The 2509 contract has continued to fall, and the strategy is to hold a light - short position [10][12] Cotton - The cotton market is supported by the reduction of Sino - US tariffs and good export data, but downstream demand has not fully recovered. The 2509 contract is fluctuating at a high level, and a light - long position is recommended [13][15] Sugar - The domestic sugar market has strong production and sales, but the upcoming increase in imports may put pressure on prices. The 2509 contract is oscillating, and short - term trading is recommended [16] Egg - The egg market is facing pressure due to high inventory and weak demand. The 2507 contract is oscillating at a low level, and a light - short position is recommended [18] Apple - The apple market is affected by slowed sales and the impact of seasonal fruits. The 2510 contract has continued to fall sharply, and a light - short position is recommended [21] Peanut - The peanut market is supported by pre - holiday stocking and reduced imports. The 2510 contract has pulled back after rising, and a light - long position is recommended [22][24]

逻辑:今早美媒爆出以色列可能对伊朗发动袭击,原油受地缘担 忧小幅跳空高开,但无后续消息原油收复大半涨幅,解读与昨日哈梅 内伊讲话一样可视作美伊第五轮谈判前的施压,目前看美伊均有达成 新伊核协议动机,倾向于会出现新伊核协议。短期地缘关注美伊第五 中期结构 短期结构 小时周期策略 品种 偏空 震荡 原油 空单持有 偏空 偏容 空单试空机会 EB 偏空 偏多 观望等短期破位 PX 观望等短期破位 偏空 偏多 PTA 偏空 偏空 空单持有 PP 小时观望,15分钟有试空机会 塑料 偏空 偏多 15 分钟有空单试空机会 甲醇 偏空 偏空 偏空 小时观望,15分钟有试空机会 偏多 EG 震荡区间上沿逢高空 橡胶 偏空 震荡 寻反抽结束做空机会 PVC 偏空 偏空 BR 橡胶 偏空 偏多 小时观望,15分钟有试空机会 板块观点汇总 轮谈判。中期供应过剩驱动的下一个时间节点是 6 月 1 日的 OPEC+ 月度会议。 日度技术追踪:原油日线级别中期下跌结构,小时级别短期震荡 结构。今日减仓反弹长上沿,视作反抽。策略上小时周期空单持有。 数据来源:天富期货研询部、文华财经 原油受消息扰动反抽之下聚酯类与聚烯烃 类分化,优先关注 ...

豆粕上涨、油脂震荡 一、农产品板块综述 焦点关注:豆粕主力合约 2509 合约上涨收长阳,突破短期横盘 区间,走势转强: 1. 南美阿根廷大豆产区遭遇暴雨袭击,可能损害大豆作物,美 豆走高,对国内豆类行情有所提振。国内市场 5 月 20 日主流油厂豆 粕成交暴增,创下逾一年新高,油厂积极预售2026年5月-7月基 差合约,大型饲料集团和贸易商积极采购,提振豆粕市场情绪。但是 国内进口大豆集中到港,市场预计 5 月份进口大豆到港 1300 万吨,6 月到港 1200万吨,油厂大豆周度压榨量将快速回升到 200万吨以上, 5月油厂豆粕库存将明显回升,或将限制豆粕的回升幅度。 2、豆粕主力 2509 合约大幅上涨,站上短期均线,向上突破短 期横盘区间,技术转强,策略上空单平仓,主力2509 合约支撑 2880, 阻力 2950。 (二) 棕榈油:反弹震荡,涨幅受限 焦点关注:棕榈油主力 2509 合约窄幅震荡,涨幅受限: 1.棕榈油产地进入增产季,产量增长,南部半岛棕榈油压榨商协 会(SPPOMA)发布的数据显示,5月1-20日马来西亚棕榈油产量 环比增长 3.72%,而出口亦增长,相关调查机构数据显示 5 月 1 ...