光大期货0119热点追踪：中加关系改善，菜粕短线承压

Group 1 - The core point of the article highlights a significant decline in canola meal prices, with a maximum drop of nearly 3% observed in a single day, influenced by recent developments in Canada-China agricultural cooperation [3][8] - Canadian Prime Minister's visit to China resulted in a preliminary agreement to enhance agricultural cooperation and food security, including the reactivation of the Canada-China Agricultural Joint Committee [3][8] - Under the new agreement, Canada anticipates that China will reduce tariffs on Canadian canola seeds by March 1, leading to a substantial decrease in the comprehensive tax rate to approximately 15% [3][8] Group 2 - Canola meal prices are expected to follow the trends of soybean meal prices, with recent favorable U.S. soybean export data showing net sales exceeding 2 million tons, surpassing market expectations [4][9] - The NOPA reported a December soybean crushing volume of 224.991 million bushels, reflecting a month-on-month increase of 4.1% and a year-on-year increase of 8.9%, marking the second-highest level in history [4][9] - Domestic soybean crushing reached 1.99 million tons, showing an increase but falling short of expectations, while the market remains in a destocking phase with upstream prices being supported [4][9]