五一长假期间保证金上调

Report Summary 1. Report Industry Investment Rating No information provided in the content. 2. Core Viewpoints - Recently, there have been notable developments in the domestic and international protein meal and oil futures markets, with key events in soybean - rapeseed meal and oil, and palm oil series [1]. 3. Section Summaries 3.1 Soybean and Rapeseed Meal and Oil - As of the week ending April 20, Canada's rapeseed exports decreased by 31.76% to 140,500 tons compared to the previous week [2]. - Paraná state in Brazil is expected to produce 21.11 million tons of soybeans, higher than last month's estimate. As of April 24, 80% of the 2024/25 soybeans in Rio Grande do Sul have been harvested [2]. - As of the week ending April 17, the net weekly export sales of 2024/25 US soybeans shrank to 277,000 tons, with cumulative sales of 47.06 million tons, a year - on - year increase of 5.57 million tons [2]. - As of the week ending April 17, the net weekly export sales of 2024/25 US soybean meal slightly increased to 170,900 tons, and the net weekly export of 2024/25 US soybean oil increased by 12,400 tons [2]. - A case being heard by Brazil's Supreme Court may provide an opportunity to improve the "soybean ban" implemented in 2008, which will impact the global soybean supply chain [3]. 3.2 Palm Oil Series - In March, Indonesia's palm oil exports were 2.05 million tons, a 3.4% decrease from the previous month. Exports to China dropped to 230,035 tons, a 19.1% decrease from February. India's palm oil imports in Q1 2025 decreased by nearly 40% to 1.07 million tons compared to the same period last year [4]. 3.3 Margin Adjustment during May Day Holiday - The Dalian Commodity Exchange will adjust the margin and price limit for multiple futures varieties during the May Day holiday, and then return to the original standards after the holiday [5]. 3.4 Other Data Charts - There are data charts related to spreads between different meal varieties, spreads across different periods of the same meal variety, price - to - price ratios of the same meal and oil varieties, and spreads between different oil varieties [6][7][9][12]