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宝城期货豆类油脂早报-20250613
Bao Cheng Qi Huo·2025-06-13 01:23

Group 1: Report Industry Investment Rating - Not provided in the content Group 2: Core Viewpoints of the Report - The soybean meal market has an intraday view of being weakly volatile, a medium - term view of being volatile, and a reference view of being weakly volatile. The U.S. Department of Agriculture report has no highlights, and the market focus shifts to the planting area report at the end of June. The trading logic of the soybean market revolves around weather and trade prospects, and the domestic soybean meal futures price has limited short - term decline space due to the support of raw soybean import costs [5]. - The palm oil market has an intraday view of being weakly volatile, a medium - term view of being volatile, and a reference view of being weakly volatile. The overall oil market is in a volatile state, with funds focusing on the soybean market and the pattern of strong soybeans and weak oils continuing. The palm oil market is a game between production increase and strong demand, and the domestic palm oil lacks its own driving force and follows the international oil market [8]. Group 3: Summary by Related Catalogs Soybean Meal (M) - Time - frame Views: Short - term: volatile; Medium - term: volatile; Intraday: weakly volatile; Reference view: weakly volatile [5][7]. - Core Logic: The U.S. Department of Agriculture report lacks highlights, and the market focuses on the June - end planting area report. The soybean market trading logic is related to weather and trade prospects. The domestic soybean meal futures price is supported by raw soybean import costs, and the short - term decline space is limited. Also, factors include import arrival rhythm, customs clearance inspection, oil refinery operation rhythm, and stocking demand [5][7]. Palm Oil (P) - Time - frame Views: Short - term: volatile; Medium - term: volatile; Intraday: weakly volatile; Reference view: weakly volatile [6][7][8]. - Core Logic: The overall oil market is volatile, with funds concentrated in the soybean market and the pattern of strong soybeans and weak oils persisting. The palm oil market is a competition between production increase and strong demand. The domestic palm oil lacks its own driving force and follows the international oil market. Other factors are Malaysian palm production and exports, Indonesian exports, main - producing countries' tariff policies, domestic arrivals and inventory, and substitution demand [7][8]. Soybean Oil - Time - frame Views: Short - term: volatile; Medium - term: volatile; Intraday: weakly volatile; Reference view: weakly volatile [7]. - Core Logic: Factors include U.S. tariff policies, U.S. soybean oil inventory, biodiesel demand, domestic raw material supply rhythm, and oil refinery inventory [7].