Core Insights - The price of rapeseed meal has decreased by 0.65% from the beginning of the month, with a benchmark price of 2548.33 CNY/ton as of June 4 [1] Price Overview - The rapeseed meal prices vary across different regions in China, with the following market prices reported: - Fujian Province/Xiamen City: 2460 CNY/ton - Tianjin: 2500 CNY/ton - Liaoning Province/Yingkou City: 2620 CNY/ton - Hubei Province/Jingzhou City: 2470 CNY/ton - Jiangsu Province/Nantong City: 2420 CNY/ton [2] - The futures market shows a closing price of 2543.00 CNY/ton for the main rapeseed meal contract, reflecting a decline of 1.89% [2] International Market Trends - Canadian rapeseed prices have decreased, with July shipment prices at 584 USD/ton and August shipment prices at 574 USD/ton, both down by 15 USD/ton from the previous trading day [3] - The European Union's rapeseed import volume for the 2024/25 season has reached 6.4 million tons, an increase from 5.19 million tons in the same period last year [4] Market Analysis - Favorable rainfall in Canada's western prairie region has not fully alleviated drought conditions, impacting domestic rapeseed crushing volumes slightly in April [5] - Despite short-term fluctuations, the cumulative data for the year indicates strong growth in Canada's rapeseed crushing industry, suggesting improved capacity utilization and production [5] - Domestic port rapeseed inventories are recovering from low levels, ensuring market supply meets domestic demand [5] - The overall operating rate of crushing plants and rapeseed meal delivery volumes remain stable, with high inventories of port rapeseed meal and granulated meal continuing to decline [5] - Market demand is showing signs of recovery, supporting optimistic consumption expectations, while the market remains attentive to the rhythm of imported rapeseed arrivals [5] - Short-term sentiment in the meal market is influenced by external factors, with rapeseed meal futures exhibiting high elasticity, maintaining a trend of fluctuating strength [5]
需求端回暖支撑消费乐观预期 菜籽粕震荡偏强运行
Jin Tou Wang·2025-06-04 08:51