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豆粕:贸易摩擦担忧、美豆偏弱,连粕或震荡,豆一:震荡
Guo Tai Jun An Qi Huo·2025-06-03 05:43

Report Summary 1. Report Industry Investment Rating - The investment rating for soymeal is that it may fluctuate due to trade friction concerns and weak US soybeans, and the rating for soybeans is "sideways" [1][3] 2. Core Viewpoints - The CBOT soybean futures closed lower due to trade disputes and good weather in the US Midwest. The uncertain outlook for agricultural product exports and sufficient South American soybean supply also put pressure on the market [4] - The Chinese government has been implementing the consensus of the Geneva economic and trade talks, while the US has introduced discriminatory restrictions, increasing the uncertainty of bilateral economic and trade relations [4] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Prices: DCE Soybean 2507 closed at 4,117 yuan/ton, down 3 yuan (-0.07%); DCE Soymeal 2509 closed at 2,968 yuan/ton, up 15 yuan (+0.51%); CBOT Soybean 07 closed at 1,034.5 cents/bushel, down 7.75 cents (-0.74%); CBOT Soymeal 07 closed at 294.5 dollars/short ton, down 1.6 dollars (-0.54%) [2] - Spot Prices: In Shandong, the price of soymeal (43%) was 2,920 - 2,960 yuan/ton, up 10 - 40 yuan from the previous day; in East China, the price in Taizhou Huifu was 2,880 yuan/ton, up 10 yuan; in South China, the price in Dongguan Fuyuan was 2,900 yuan/ton, unchanged [2] - Industrial Data: The trading volume of soymeal was 330,000 tons/day, compared with 875,000 tons in the previous trading day, and the inventory was 2.158 million tons in the previous week [2] 3.2 Macro and Industry News - On May 30, CBOT soybean futures fell due to Trump's remarks on Sino - US trade disputes and good weather in the US Midwest [4] - On June 2, CBOT soybean futures fell to a seven - week low due to good weather in the US soybean - growing areas, tense Sino - US relations, and sufficient South American soybean supply. As of June 1, the US soybean planting was 84% complete, and the good - to - excellent rate was 67% [4] 3.3 Trend Intensity - The trend intensity of soymeal and soybeans on the reporting day was 0, indicating a neutral trend [4]