棕榈油：压力阶段性释放，下方存在支撑豆油：美国生柴炒作密集，短期易涨难跌，豆粕：贸易摩擦缓和、美豆收涨，连粕震荡

Report Industry Investment Ratings No relevant content provided. Core Views - Palm oil: Pressure is released periodically, and there is support below [2][4]. - Soybean oil: Intense speculation on U.S. biodiesel, short - term upward trend is likely [2][4]. - Soybean meal: Trade friction eases, U.S. soybeans close higher, Dalian soybean meal fluctuates [2][13]. - Soybean No.1: The market fluctuates [2][13]. - Corn: The trend is oscillating upward [2][16]. - Sugar: Domestic sugar production continues to increase [2][20]. - Cotton: Optimistic market sentiment drives the rebound of cotton futures [2][24]. - Eggs: The market is in an oscillatory adjustment [2][30]. - Pigs: Short - term game, early trading of inventory reduction followed by restocking [2][32]. - Peanuts: The market is in a strong - biased oscillation [2][35]. Summary by Related Catalogs 1. Palm oil and Soybean oil Fundamental Tracking - Futures: Palm oil's daily - session closing price was 8,184 yuan/ton with a 2.89% increase, and the night - session closing price was 8,176 yuan/ton with a - 0.10% change. Soybean oil's daily - session closing price was 7,914 yuan/ton with a 1.57% increase, and the night - session closing price was 7,898 yuan/ton with a - 0.20% change [5]. - Spot: The spot price of 24 - degree palm oil in Guangdong was 8,800 yuan/ton, up 130 yuan; the spot price of first - grade soybean oil in Guangdong was 8,280 yuan/ton, up 60 yuan [5]. Macro and Industry News - It is expected that the Malaysian palm oil inventory will increase by 15% month - on - month in May to 2.15 million tons, which will put pressure on the price of crude palm oil. The price of crude palm oil is expected to fluctuate between 3,700 and 4,000 ringgit per ton in May [6]. - The NOPA report predicts that the U.S. soybean crushing in April may slow down but will still be the highest in April over the years. The estimated soybean crushing volume in April is 184.642 million bushels, a 5.1% decrease from March but a 9.0% increase from April 2024 [8]. Trend Intensity - Palm oil trend intensity: 1; Soybean oil trend intensity: 1 [12]. 2. Soybean meal and Soybean No.1 Fundamental Tracking - Futures: The closing price of DCE Soybean No.1 2507 (day session) was 4,174 yuan/ton with a 0.34% increase, and the night - session closing price was 4,183 yuan/ton with a 0.43% increase. The closing price of DCE soybean meal 2509 (day session) was 2,914 yuan/ton with a 0.38% increase, and the night - session closing price was 2,898 yuan/ton with no change [13]. Macro and Industry News - On May 14, CBOT soybean futures mostly closed higher. The benchmark contract reached a nearly 10 - month high, supported by the suspension of high - tariff imposition between China and the U.S. for 90 days and the proposal to extend the U.S. biofuel tax credit [15]. Trend Intensity - Soybean meal trend intensity: 0; Soybean No.1 trend intensity: 0 [15]. 3. Corn Fundamental Tracking - Futures: The closing price of C2507 was 2,356 yuan/ton with a 0.34% increase, and the night - session closing price was 2,347 yuan/ton with a - 0.38% change. The closing price of C2509 was 2,367 yuan/ton with a 0.30% increase, and the night - session closing price was 2,362 yuan/ton with a - 0.21% change [16]. Macro and Industry News - The northern corn collection and port price is 2,260 - 2,280 yuan/ton (new crop listing), and the price in Guangdong Shekou is 2,350 - 2,370 yuan/ton, unchanged from the previous day [17]. Trend Intensity - Corn trend intensity: 0 [18]. 4. Sugar Fundamental Tracking - The raw sugar price was 18.08 cents/pound, down 0.1; the mainstream spot price was 6,200 yuan/ton, up 20; the futures main - contract price was 5,906 yuan/ton, up 53 [20]. Macro and Industry News - Brazil's crushing progress is slowing down year - on - year; the USDA expects Brazil's production to increase by 2% in the 25/26 season; as of the end of April, India's sugar production in the 24/25 season was 25.69 million tons [20]. Trend Intensity - Sugar trend intensity: 0 [22]. 5. Cotton Fundamental Tracking - Futures: The closing price of CF2509 was 13,445 yuan/ton with a 0.86% increase, and the night - session closing price was 13,455 yuan/ton with a 0.07% increase. The closing price of CY2507 was 19,775 yuan/ton with a 0.46% increase, and the night - session closing price was 19,745 yuan/ton with a - 0.15% change [24]. Macro and Industry News - The domestic cotton spot trading is light, and the price of pure - cotton yarn is stable with a slight upward trend. ICE cotton has fallen for three consecutive days due to the bearish U.S. cotton supply - demand report [25]. Trend Intensity - Cotton trend intensity: - 1 [28]. 6. Eggs Fundamental Tracking - Futures: The closing price of eggs 2507 was 3,028 yuan/500 kilograms with a - 0.20% change, and the closing price of eggs 2509 was 3,800 yuan/500 kilograms with a 0.03% increase [30]. Trend Intensity - Egg trend intensity: 0 [30]. 7. Pigs Fundamental Tracking - Futures: The price of live pigs 2507 was 13,645 yuan/ton, up 70; the price of live pigs 2509 was 14,020 yuan/ton, up 135; the price of live pigs 2511 was 13,655 yuan/ton, up 65 [32]. Market Logic - Although the price difference between fat and lean pigs is inverted, and the pressure on pigpens in May has increased slightly, the price continues to exceed expectations, leading to continued inventory accumulation. Pay attention to the inventory - accumulation rhythm. The short - term support level of the LH2509 contract is 13,000 yuan/ton, and the pressure level is 15,000 yuan/ton [34]. Trend Intensity - Pig trend intensity: 0 [33]. 8. Peanuts Fundamental Tracking - Futures: The closing price of PK510 was 8,236 yuan/ton with a 0.61% increase, and the closing price of PK511 was 8,154 yuan/ton with a 0.72% increase [35]. Spot Market Focus - In the Henan market, the price of peanuts is basically stable, and in some areas, it is slightly stronger. In the Jilin market, the price is stronger, and in the Liaoning and Shandong markets, the trading has improved and the price is stronger [36]. Trend Intensity - Peanut trend intensity: 0 [37].