Report Industry Investment Ratings - Beans 1: Not clearly defined [1] - Soybean Meal: ☆☆☆, indicating a relatively balanced short - term trend with poor operability [1] - Soybean Oil: ☆☆☆, indicating a relatively balanced short - term trend with poor operability [1] - Palm Oil: ☆☆☆, indicating a relatively balanced short - term trend with poor operability [1] - Rapeseed Meal: ☆☆☆, indicating a relatively balanced short - term trend with poor operability [1] - Rapeseed Oil: Not clearly defined [1] - Corn: ★☆★, representing a somewhat bullish or bearish trend with weak driving force for price movement [1] - Live Pigs: ★☆☆, representing a bearish trend with weak driving force for price decline [1] - Eggs: ★☆☆, representing a bearish trend with weak driving force for price decline [1] Core Viewpoints - The agricultural product market is affected by multiple factors such as supply and demand, policies, and weather. Different products show different trends, mainly including range - bound, weakening, and potential price pressure [2][3][4] Summary by Related Catalogs Soybeans - Domestic soybeans are at low prices, and reserve auctions continue to add supply. Imported soybeans face arrival pressure in late April, and attention should be paid to policies and planting - related factors in the future [2] Soybean Meal - It follows the weakening of US soybeans. The domestic basis shows a volatile decline. It is expected to be range - bound, waiting for US crop - related trading opportunities, with support below and suppression above [3] Soybean Oil and Palm Oil - US soybean prices are weak after relevant reports. There are contradictions in the overseas soybean oil biodiesel market. Soybean supply pressure will increase in late April. Palm oil needs to be observed during the mid - term production season. Overall, they are expected to be range - bound, and there may be opportunities to buy on dips [4] Rapeseed Meal and Rapeseed Oil - The USDA report on US new - season soybean planting area is neutral to bullish. Domestic rapeseed processing and inventory changes are small. The long - term supply of rapeseed is weak. Short - term market is affected by Sino - Canadian trade policies and may be volatile [6] Corn - The national corn sowing is nearly complete. Supply at Shandong deep - processing enterprises has increased, and prices have turned down. North port inventory is rising, and south port inventory is slowly decreasing. Grain release may cause futures prices to weaken [7] Live Pigs - Futures are weakly volatile, and spot prices fluctuate slightly. Supply pressure is increasing in the long term. Fat - to - lean price differentials affect supply release. Spot prices are expected to move towards 12 - 13 yuan/kg, and the futures market is bearish [8] Eggs - Futures are narrowly volatile, and spot prices are mostly down. Industry capacity is expected to rise before July. Attention should be paid to large - scale old - hen culling. Inventory pressure is high, and the futures price is expected to be under pressure [9]
农产品日报-2025-04-01
Guo Tou Qi Huo·2025-04-01 11:10