中加会谈预期压制盘面 菜籽粕期货可能惯性回调

Core Viewpoint - The main focus of the news is the significant decline in canola meal futures, with the main contract dropping nearly 2% and closing at 2338.00 yuan, reflecting a downward trend in the market [1][2]. Group 1: Market Analysis - Canola meal futures are experiencing a weak supply and demand situation, with the supply side affected by slower-than-expected processing of Australian canola, while demand remains limited due to the off-season for aquatic consumption [2]. - The current inventory of canola meal is declining, but there is an expectation of a rebound in inventory due to increased supply from Australia, indicating that the market may have limited upward potential [2]. - The protein meal market is characterized by strong expectations but weak realities, with soybean meal prices supported by tight supply expectations, yet overall inventory levels remain high [3]. Group 2: Future Outlook - The canola meal futures market may continue to experience a downward adjustment due to high domestic soybean inventories and the expectation of a steady supply from Brazil as new harvests begin [3]. - The improvement in China-Canada trade relations is anticipated to further influence the canola meal futures market, potentially leading to a continued downward trend and affecting the buying sentiment in the soybean meal futures market [3].