蛋白数据日报-20250530

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - The domestic soybean arrivals from Brazil in May, June, and July are expected to exceed 10 million tons each month. The purchase progress for June is 92.7%, July is 74.4%, and August is 29.7%. The U.S. soybean planting progress is fast, with dry weather expected in the next two weeks and poor conditions in Nebraska. There is speculation about floods in the Argentine soybean - producing areas, but the expected impact is limited [5][6]. - From the inventory, the supply of live pigs is expected to increase steadily before September, the poultry inventory remains high, the cost - effectiveness of soybean meal has significantly improved, and the downstream transactions have increased with better提货 [6]. - As of last week, the soybean inventory decreased slightly and is currently at a high level in the same period of previous years. The soybean meal inventory increased to 20.69 tons and is still low. The number of days of soybean meal inventory in feed enterprises has increased but is still at a low level [6]. - Overall, the sowing progress of U.S. corn in some regions is slow, and there may be a shift to soybean planting. The soybean - corn ratio has risen recently, which may affect the expected reduction of U.S. soybean planting area. The U.S. soybean planting progress is fast, and there is no short - term weather speculation. The U.S. soybean price is under pressure and falls, but the increase in Brazilian discounts weakens the impact of the U.S. soybean price decline. The domestic soybean meal is expected to accelerate inventory accumulation, and the short - term trend of soybean meal is expected to be volatile [6]. 3. Summary by Relevant Catalogs 3.1 Basis Data - The basis of the soybean meal main contract in different regions (Zhangjiagang, Tianjin, Dalian, etc.) shows different values and changes on May 29, 2025. For example, in Zhangjiagang, the 43% soybean meal spot basis (against the main contract) is - 32, - 11 on different time points [3]. - The basis of rapeseed meal in different regions (Guangdong, etc.) also shows different values and changes. For example, in Guangdong, the rapeseed meal spot basis is - 148, - 14 [7]. 3.2 Spread Data - The spot spread and the spread of the main contract between soybean meal and rapeseed meal in Guangdong are provided, such as the spot spread of soybean meal - rapeseed meal is 430, - 20, and the spread of the main contract is 344, - 13 [5]. 3.3 Inventory Data - The inventory data of soybeans in Chinese ports and major oil mills in China from 2020 - 2025 are presented, showing the changes in inventory over time [5]. - The inventory data of soybean meal in major oil mills in China from 2020 - 2025 are provided, and the inventory of soybean meal has increased to 20.69 tons as of last week [5][6]. - The number of days of soybean meal inventory in feed enterprises from 2020 - 2025 is shown, and currently, it is still at a low level [5][6]. 3.4开机 and压榨情况 - The opening rate and soybean crushing volume of major oil mills in China from 2020 - 2025 are presented, showing the changes in these indicators over time [5].