光大期货：1月6日农产品日报

Group 1: Protein Meal - CBOT soybeans rose on Monday, supported by early-year fund buying and a general market uptrend [2][10] - U.S. soybean net sales for the week ending December 25 reached 1.1777 million tons, an increase from the previous week but below the four-week average [2][10] - StoneX raised Brazil's soybean production forecast to 177.6 million tons, while domestic protein meal prices experienced narrow fluctuations due to weak spot basis and rising inventories [2][10] Group 2: Oils - BMD palm oil increased on Monday due to a weaker Malaysian ringgit and stronger U.S. soybean oil [3][11] - December palm oil inventory in Malaysia reached a seven-year high, driven by strong production outpacing moderate export improvements [3][11] - Domestic oil markets showed divergence, with palm oil declining significantly while soybean and canola oils remained strong [3][11] Group 3: Live Pigs - Post-holiday live pig prices showed a decline, with the main futures contract dropping 1.14% to 11,660 yuan/ton [5][12] - The average daily price of live pigs in China was 12.44 yuan/kg, down 0.02 yuan/kg from the previous week and 0.36 yuan/kg from before the holiday [5][12] - Southern regions maintained normal supply but faced weak demand, while northern regions experienced tight supply of heavier pigs, providing some price support [5][12] Group 4: Eggs - Demand before New Year was limited, resulting in stable egg prices during the holiday period [6][13] - The main futures contract for eggs rose 1.39% to 2,992 yuan/500 kg on the first trading day after the holiday [6][13] - Current egg prices across various markets remained stable, with slight increases in some areas, while supply pressures exist despite a declining trend in inventory [6][13] Group 5: Corn - Corn prices initially fell before rebounding on Monday, influenced by negative policies regarding wheat sales [7][14] - The spot market for corn remained stable with low transaction volumes, particularly in the Northeast region [7][14] - Farmers exhibited a reluctance to sell, leading to a slow market, while expectations for increased purchasing activity are anticipated as the Spring Festival approaches [7][14]