市场呈供应宽松格局 预计豆二期货陷入宽幅震荡

Group 1 - The domestic oilseed market shows mixed performance, with soybean futures (Soybean No. 2) slightly up by 1.79% to 3802.00 CNY/ton as of the report date [1] - As of December 10, the top 20 futures companies held a total of 164,600 long positions and 146,700 short positions in Soybean No. 2, resulting in a long-to-short ratio of 1.12 and a net position increase of 6,205 contracts [1] - The USDA reported that U.S. private exporters sold 136,000 tons of soybeans to China and 119,000 tons to unknown destinations for the 2025/26 marketing year [1] Group 2 - Market focus is on China's purchasing pace of U.S. soybeans, which is slow and uncertain, leading to cautious market sentiment [2] - U.S. soybean export data has significantly declined year-on-year, while drought conditions in the U.S. Midwest have eased, and South American soybean planting is progressing steadily [2] - The domestic soybean market is characterized by high inventory and high crushing volumes, indicating a loose supply-demand balance, with the market entering a "weak reality pricing" phase [2]