Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View of the Report The report focuses on the performance and outlook of various agricultural products in the market. It analyzes factors such as supply - demand dynamics, policy impacts, and technical indicators to provide trading strategies for different agricultural product futures contracts [1][2][4]. 3) Summary by Variety (a) Soybean Meal - The price of soybean meal futures is on an upward trend. The first meeting of the China - US economic and trade consultation mechanism boosts market sentiment, and the high - opening rate of domestic oil mills increases supply, but inventory is still lower than last year. The technical indicators are strong. The strategy is to hold a light long position for the 2509 contract, with support at 3000 and resistance at 3050 [1][2]. (b) Corn - Corn prices are rising strongly. The implementation of the minimum purchase price policy for wheat in Henan Province on June 6th supports wheat prices and boosts corn prices. Coupled with tight supply and falling port inventories, the technical indicators are strong. The strategy is to hold a light long position for the 2507 contract, with support at 2350 and resistance at 2400 [1][4]. (c) Cotton - Cotton prices are continuously rising. The first meeting of the China - US economic and trade consultation mechanism improves market sentiment, and domestic cotton commercial inventory is decreasing. Although the raw material replenishment of small and medium - sized cotton spinning enterprises is weak, the technical indicators are strong. The strategy is to hold a light long position for the 2509 contract, with support at 13450 and resistance at 13600 [6]. (d) Palm Oil - Palm oil prices are falling. Malaysia's May palm oil production and inventory increased, and the total domestic oil inventory also rose significantly. The technical indicators are weak. The strategy is to hold a light short position for the 2509 contract, with support at 8078 and resistance at 8200 [8]. (e) Soybean Oil - Soybean oil prices are in a downward adjustment. Due to a large number of imported soybeans arriving at ports and high oil - mill opening rates, soybean oil supply is increasing. The strategy is for short - term trading for the 2509 contract, with support at 7724 and resistance at 7790 [10]. (f) Sugar - Sugar prices are oscillating downward. Favorable weather in major sugar - producing countries and expected increases in domestic sugar production and imports limit the rebound space. The technical indicators are weak. The strategy is to hold a light short position for the 2509 contract, with support at 5688 and resistance at 5732 [13]. (g) Live Pigs - Live pig prices are rebounding. The central government's plan to purchase 10,000 tons of frozen pork for storage boosts market sentiment. The strategy is to close short positions and consider a light long position if the 20 - day moving average resistance is broken for the 2509 contract, with support at 13500 and resistance at 13620 [14]. (h) Eggs - Egg prices first decline and then rise, but the downward trend remains. High egg - laying hen inventory, slow capacity reduction, weak post - festival demand, and high storage difficulties during the rainy and hot season put pressure on prices. The technical indicators are weak. The strategy is to hold a light short position for the 2507 contract, with support at 2810 and resistance at 2856 [17]. (i) Apples - Apple prices are in narrow - range oscillation after a sharp decline. The peak season of fruit listing reduces apple demand, and although inventory is low, the slow de - stocking and quality decline due to rising temperatures pull down prices. The technical indicators are weak. The strategy is to hold a light short position on rallies for the 2510 contract, with support at 7480 and resistance at 7600 [19]. (j) Peanuts - Peanut prices are oscillating downward. The weakening of the oil market affects peanut prices, along with limited supply from the grassroots level, low downstream consumption, and cautious purchasing by traders. The technical indicators are weak. The strategy is to hold a light short position for the 2510 contract, with support at 8282 and resistance at 8354 [21].
豆粕走高、棕油下挫
Tian Fu Qi Huo·2025-06-10 12:13