Report Summary 1. Report Industry Investment Rating No information provided. 2. Report's Core View - The USDA export sales report shows various data on US soybean and soybean meal export sales and shipments, including changes compared to previous weeks and four - week averages [1]. - The Canadian Agriculture and Agri - Food Department (AAFC) adjusts the 2024/25 annual Canadian rapeseed export volume estimate but keeps the year - end inventory estimate unchanged, and also has related estimates for the 2025/26 annual rapeseed [1]. - There are data on import soybean crushing profit, fat import profit, and spot prices of related products, as well as information on protein meal basis, fat basis, and fat and oil product price spreads [1][2][7][10]. 3. Summary by Related Catalogs 3.1 US Soybean Export Sales - For the week ending on the 15th, the net increase in US current - market - year soybean export sales was 30.79 million tons, up 9% from the previous week and down 10% from the four - week average, with a market forecast of 10 - 30 million tons [1]. - The net increase in next - year's soybean export sales was 1.5 million tons, with a market forecast of 9 - 40 million tons [1]. - US soybean export shipments were 25.08 million tons, a market - year low, down 42% from the previous week and 43% from the four - week average [1]. - The new sales of US current - market - year soybean were 31.41 million tons, and next - market - year soybean were 1.5 million tons [1]. 3.2 US Soybean Meal Export Sales - For the week ending on the 15th, the net increase in US current - market - year soybean meal export sales was 35.96 million tons, up 25% from the previous week and 61% from the four - week average, with a market forecast of 10 - 40 million tons [1]. - The net increase in next - year's soybean meal export sales was 2.31 million tons, with a market forecast of 0 - 5 million tons [1]. - US soybean meal export shipments were 24.87 million tons, down 4% from the previous week and 14% from the four - week average [1]. - The new sales of US current - market - year soybean meal were 38.92 million tons, and next - market - year soybean meal were 2.31 million tons [1]. 3.3 Canadian Rapeseed Estimate - The AAFC increased the 2024/25 annual rapeseed export volume estimate to 8.5 billion tons, at least 100 tons higher than the previous estimate, but kept the year - end inventory estimate at 1.3 billion tons [1]. - The 2025/26 annual rapeseed carry - over inventory estimate remains at 2 billion tons, and the estimated 2025/26 annual rapeseed crushing volume is 11 billion tons, lower than last month's estimate of 12 billion tons [1]. 3.4 Spot Price - The report provides spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from May 16th to May 22nd, 2025 [2].
油脂油料早报-20250523
Yong An Qi Huo·2025-05-23 08:00