研究所 黑色研发报告 研究所 黑色研发报告 铁矿石日报 2026 年 01 月 29 日 | | 今日 | 昨日 | 涨跌 | | 今日 | 昨日 | 涨跌 | | --- | --- | --- | --- | --- | --- | --- | --- | | DCE01 | 765.5 | 752.5 | 13.0 | I01-I05 | -33.0 | -30.5 | -2.5 | | DCE05 | 798.5 | 783.0 | 15.5 | I05-I09 | 19.5 | 18.5 | 1.0 | | DCE09 | 779.0 | 764.5 | 14.5 | I09-I01 | 13.5 | 12.0 | 1.5 | | 现货 | 昨天 | 前天 | 涨跌 | 折标准品 | 01厂库基差 | 05厂库基差 | 09厂库基差 | | P B粉(60.8%) | 786 | 792 | -6 | 854 | 93 | 63 | 81 | | 纽曼粉 | 786 | 792 | -6 | 860 | 99 | 69 | 87 | | 麦克粉 | 785 | 789 | -4 | 867 | 10 ...

研究所 黑色金属研发报告 黑色金属日报 2026 年 01 月 29 日 螺纹热卷日报 第一部分 市场信息 | | | | 螺纹 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 期货(元/吨) | | | | | | | 今日 | 昨日 | 涨跌 | | 今日 | 昨日 | 涨跌 | | RB05 | 3157 | 3123 | 34 | HC05-RB05 | 151 | 157 | -6 | | RB10 | 3203 | 69TE | 34 | HC10-RB10 | 127 | 132 | -5 | | RB01 | 3228 | 3200 | 28 | HC01-RB01 | 122 | 126 | -4 | | RB01-RB05 | 71 | 77 | -6 | RB10-RB01 | -25 | -31 | 6 | | RB05-RB10 | -46 | -46 | 0 | | | | | | 05合约螺纹盘面利润 | -128 | -119 | - g | RB05/105 | 3.95 | 3.99 | ...

研究所 黑色金属研发报告 黑色金属日报 2026 年 1 月 29 日 铁合金日报 第一部分 市场信息 期货从业证号： F03134259 投资咨询证号： Z0021009 联系方式： :zhoutao_qh1@chinastock. com.cn | 期 货 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 期货合约 | 收盘价 | 日变动 | 周变动 | 成交量 | 日变化 | 持仓量 | 日变化 | | SF主力合约 | 5736 | 104 | 126 | 228839 | 106016 | 172651 | -33983 | | SM主力合约 | 5926 | 94 | 112 | 256191 | 116337 | 362400 | -12587 | | 现 货 | | | | | | | | | 硅铁 现货价格 | | 日变动 | 周变动 | 硅锰 | 现货价格 | 日变动 | 周变动 | | 72%FeSi内蒙 | 5400 | 50 | 30 | 硅锰6517内蒙 | 5670 | 0 | -10 | | ...

研究所 航运研发报告 航运日报 2026 年 1 月 29 日 航运日报 第一部分 集装箱航运——集运指数（欧线） 期货从业证号： F3084078 投资咨询证号： Z0018656 联系方式： :jiaruilin_qh@chinastock.com.cn | 银河期货集运指数 | | | | （欧线） 日报 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 期货盘面 | | | | | | | | | 期货合约 | 收盘价 | 涨跌 | 涨跌幅 | 成交量（手） | 增减幅 | 持仓量(手) | 增减幅 | | EC2602 | 1,717.5 | -1.5 | -0.09% | 432.0 | 16.76% | 2,812.0 | -11.74% | | EC2604 | 1,249.7 | 20.7 | 1.68% | 27,481.0 | -29.51% | 39,669.0 | -1.19% | | EC2606 | 1,576.0 | 82.8 | 5.55% | 6,835.0 | 37.97% | 11,306.0 | 1 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints of the Report - The supply pressure of global corn has weakened, and US corn is still oscillating at the bottom. The import profit of foreign corn has increased, and the domestic corn spot is relatively stable in the short - term. The 03 corn still has room to fall, while the 07 and 05 corn can consider building long positions on dips. [4][6][8][9] - The inventory of corn starch has decreased this week. Due to the end of pre - holiday stocking, the starch spot is weak, and the enterprise is still in a loss. It is expected that the short - term 03 starch futures will oscillate weakly. [7] 3. Summary by Relevant Catalogs 3.1 Data - **Futures Disk**: For corn futures (C2601, C2605, C2509), the closing prices are 2263, 2286, and 2305 respectively, with increases of 0.35%, 0.31%, and 0.35%. For corn starch futures (CS2601, CS2605, CS2509), the closing prices are 2592, 2607, and 2620 respectively, with changes of 0.15%, - 0.12%, and - 0.11%. [2] - **Spot and Basis**: Corn spot prices in different regions (such as Qinggang, Songyuan Jiji) are stable. The basis of corn and starch in different regions is provided. For example, the basis of corn in Qinggang is - 145, and the basis of starch in Longfeng is 123. [2] - **Spreads**: Corn inter - period spreads (C01 - C05, C05 - C09, C09 - C01), starch inter - period spreads (CS01 - CS05, CS05 - CS09, CS09 - CS01), and cross - variety spreads (CS09 - C09, CS01 - C01, CS05 - C05) are presented, along with their price changes. [2] 3.2 Market Judgment - **Corn**: Affected by the drought in Argentina, the supply pressure of US corn has weakened, but it is still oscillating at the bottom. The import profit of foreign corn has increased. Domestic corn spot is relatively stable in the short - term. The market is concerned about the seasonal selling pressure of Northeast China's corn before the Spring Festival and the downstream inventory building situation. [4][6] - **Starch**: The number of vehicles arriving at Shandong's deep - processing plants has increased, and the corn spot in Shandong is stable. The corn starch inventory has decreased this week. The starch spot is weak due to the end of pre - holiday stocking, and the enterprise is still in a loss. It is expected that the short - term 03 starch futures will oscillate weakly. [7] 3.3 Trading Strategies - **Single - side**: The 03 US corn has support at 420 cents per bushel. Consider building long positions on dips for the 07 and 05 corn. [9] - **Arbitrage**: Wait and see. [10] 3.4 Corn Options - Option Strategy: Short - term cumulative put option strategy with rolling operations. [11] 3.5 Relevant Attachments - Multiple charts are provided, including the North Port corn closing price, corn 05 contract basis, corn 5 - 9 spread, corn starch 5 - 9 spread, corn starch 05 contract basis, and corn starch 05 contract spread, to show the price trends over time. [14][15][16][17][19][20]

Group 1: Report Information - Report Name: Galaxy Futures' Daily Report on Oils and Fats [1] - Report Date: January 29, 2026 [1] Group 2: Data Analysis - **Spot Prices and Basis**: The closing price of soybean oil on the 2605 contract was 8382 yuan, up 56 yuan; palm oil was 9362 yuan, up 92 yuan; and rapeseed oil was 9446 yuan, up 116 yuan. The basis of soybean oil, palm oil, and rapeseed oil showed different changes in different regions [2]. - **Monthly Spread**: The 5 - 9 monthly spread of soybean oil was 88 yuan, up 2 yuan; palm oil was 68 yuan, up 8 yuan; and rapeseed oil was 69 yuan, up 10 yuan [2]. - **Cross - Variety Spread**: The 05 - contract Y - P spread was (980) yuan, down 36 yuan; OI - Y was 1064 yuan, up 60 yuan; OI - P was 84 yuan, up 24 yuan; and the oil - meal ratio was 2.99, down 0.001 [2]. - **Import Profit**: The CNF price of 24 - degree palm oil from Malaysia and Indonesia was 1130 US dollars, and the FOB price of rapeseed oil from Rotterdam was 1046 US dollars, with a negative import profit [2]. - **Weekly Commercial Inventory**: In the 4th week of 2026, the commercial inventory of soybean oil was 95.6 million tons, down 0.73 million tons from last week; palm oil was 74.2 million tons, down 0.38 million tons; and rapeseed oil was 25.2 million tons, down 2.3 million tons [2]. Group 3: Fundamental Analysis - **International Market**: Anec data showed that Brazil exported 267,642 tons of soybeans from January 18 - 24 [4]. - **Domestic Market - Palm Oil**: The palm oil futures price fluctuated slightly higher, up nearly 1%. As of January 23, 2026, the commercial inventory was 74.23 million tons, down 0.51% from last week. The basis was stable to weak, and the import profit was inverted. It was expected to maintain a high - inventory state with limited upside space [4]. - **Domestic Market - Soybean Oil**: The soybean oil futures price fluctuated slightly higher. The actual soybean crushing volume last week was 2.1021 million tons, and the inventory was 95.6 million tons, down 0.76% from last week. The basis was stable. It was expected to have limited upside space [4][6]. - **Domestic Market - Rapeseed Oil**: The rapeseed oil futures price fluctuated higher, up over 1%. The coastal rapeseed crushing volume last week was 0 tons, and the inventory was 25.2 million tons, down 2.3 million tons. The import profit was inverted. It was expected to continue de - stocking, and the near - month contract had limited downside space [6]. Group 4: Trading Strategies - **Single - Side Trading**: Short - term oils and fats are expected to fluctuate higher, but due to many uncertainties and no prominent contradictions, those without positions are advised to wait and not chase the high or rush to short [8]. - **Arbitrage**: Adopt the strategy of buying the March contract and selling the May contract of rapeseed oil at low prices [8]. - **Options**: Adopt a wait - and - see approach [8]. Group 5: Related Attachments - The report includes 8 figures showing the basis of different oils and fats and the monthly spreads and cross - variety spreads of different contracts from 2017 - 2026 [11][12][15][19]

研究所 农产品研发报告 花生日报 2026 年 1 月 29 日 | 第一部分 | | | | 数据 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 花生数据日报 | | | | | | | 2026/1/29 | | 期货盘面 | | | | | | | | | 期货 成交量 | 收盘价 | 涨跌 | 涨跌幅 | | 增减幅 | 持仓量 | 增减幅 | | PK604 15,751 | 7978 | -6 | -0.08% | | 2.42% | 43,950 | 5.78% | | PK610 132 | 8246 | 0 | 0.00% | | 94.12% | 2,765 | 0.91% | | PK601 18 | 8244 | 8 | 0.10% | | 157.14% | 30 | 76.47% | | 现货与基差 | | | | | | | | | 现货 | 河南南阳 | 山东济宁 | 山东临沂 | 日照花生粕 | 日照豆粕 | 花生油 | 日照一级豆油 | | 今日报价 3250 | 7400 | 8000 | 8000 ...

研究所 农产品研发报告 期货从业证号： F3045719 投资咨询证号： Z0015458 联系方式： chenjiezheng_qh@chinastock.c 粕类日报 2026 年 1 月 29 日 【粕类日报】扰动因素增加 粕类继续偏强 研究员：陈界正 om.cn | 粕类价格日报 | | | | | | 2026/1/29 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 期 货 | | | | | | 现货基差 | | | 品 种 | 合 约 | 收盘价 | 涨 跌 | 地 区 | 今 日 | 昨 日 | 涨 跌 | | 豆粕 | 0 1 | 2933 | 1 2 | 天津 | 380 | 390 | -10 -10 | | 东莞 | 0 5 | 2802 | 2 0 | | 290 | 300 | | | 张家港 | 0 9 | 2888 | 7 | | 280 | 290 | -10 | | | | | | 日照 | 290 | 300 | -10 | | 南通 | 0 1 | 2252 | 1 6 | | 205 | 233 | - ...

研究所 农产品研发报告 生猪日报 2026 年 1 月 29 日 【生猪日报】出栏压力增加 现货继续下行 研究员：陈界正 期货从业证号： F3045719 投资咨询证号： Z0015458 联系方式： chenjiezheng_qh@chinastock.c om.cn | | | | | 生猪价格日报 | | 2026/1/29 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 现货价格 | | | | | | | 今 日 | 昨 日 | 变 化 | | 今 日 | 昨 日 | 变 化 | | 河南（0） | 12.71 | 12.94 | -0.23 | 山西（-100） | 12.65 | 12.91 | -0.26 | | 湖北（0） | 12.39 | 12.59 | -0.20 | 辽宁（-300） | 12.73 | 12.84 | -0.11 | | 安徽（200） | 12.82 | 13.06 | -0.24 | 吉林（-300） | 12.60 | 12.70 | -0.1 | | 湖南（100） | 12.23 ...

期 货 眼 ·日 迹 每日早盘观察 银河期货研究所 2026 年 1 月 29 日 0 / 49 研究所 期货眼·日迹 | 股指期货：承接进一步加强 4 | | --- | | 国债期货：增量信息依旧有限 5 | | 蛋白粕：供应扰动增加 | 美豆走势偏强 6 | | --- | --- | | 白糖：外盘价格下调，国内价格强势 6 | | | 油脂板块：原油带动油脂继续上涨 8 | | | 玉米/玉米淀粉：北港现货回落，盘面偏弱震荡 8 | | | 生猪：供应压力增加 | 价格下行增加 9 | | 花生：花生现货稳定，花生盘面底部震荡 10 | | | 鸡蛋：临近节前备货，蛋价有所上涨 11 | | | 苹果：节前走货尚可，苹果价格坚挺 12 | | | 棉花-棉纱：整体变化不大 | 棉价有所支撑 13 | | 钢材：需求边际转弱，钢价延续震荡 14 | | --- | | 双焦：驱动不明显，关注资金扰动 14 | | 铁矿：终端需求低位，矿价震荡运行 15 | | 铁合金：估值偏低存在修复需求，短期震荡偏强 16 | | 金银：美联储稍显鹰派 但金银不改强势 17 | | --- | | 铂钯：联储议息会 ...