农产品日报：现货价格涨跌互现，豆粕维持震荡-20250613

Group 1: Report Industry Investment Rating - The investment rating for the soybean meal and corn sectors is cautiously bearish [3][6] Group 2: Core Viewpoints - For soybean meal, the large arrival of Brazilian soybeans has increased domestic oil - mill operating rates and rapidly raised soybean meal inventories. The short - term rise in Brazilian premiums will support soybean meal to some extent, but the overall loose supply pattern remains unchanged. Key factors to watch include Brazilian premiums, US soybean planting area weather, and policy changes [2] - For corn, on the domestic front, the supply has increased due to factors such as the end of grassroots grain reserves and the need for traders to clear inventory for wheat purchases. The demand from deep - processing enterprises is low, and feed enterprises mainly execute previous orders. Attention should be paid to the listing and substitution of new - season wheat [5] Group 3: Summary by Related Catalogs Soybean Meal Market News and Important Data - Futures: The closing price of the soybean meal 2509 contract was 3049 yuan/ton, up 2 yuan/ton (+0.07%) from the previous day; the rapeseed meal 2509 contract was 2674 yuan/ton, up 36 yuan/ton (+1.36%) [1] - Spot: In Tianjin, the soybean meal spot price was 2950 yuan/ton, down 10 yuan/ton; in Jiangsu, it was 2850 yuan/ton, unchanged; in Guangdong, it was 2860 yuan/ton, up 10 yuan/ton. In Fujian, the rapeseed meal spot price was 2580 yuan/ton, up 20 yuan/ton [1] - US soybean export inspection: In the week of May 29, 2025, it was 54.7 tons, higher than market expectations. As of the week of June 6, 2024, it was 23.4 tons. Cumulative exports this crop year reached 4518.8 tons, compared with 4054.3 tons in the same period of the previous year [1] Market Analysis - With the large arrival of Brazilian soybeans, domestic oil - mill operating rates have increased, and soybean meal inventories have risen from low levels. The overall supply of soybeans remains loose, and short - term support comes from rising Brazilian premiums [2] Strategy - Cautiously bearish [3] Corn Market News and Important Data - Futures: The closing price of the corn 2507 contract was 2372 yuan/ton, down 2 yuan/ton (-0.08%); the corn starch 2507 contract was 2710 yuan/ton, up 1 yuan/ton (+0.04%) [3] - Spot: In Liaoning, the corn spot price was 2150 yuan/ton, unchanged; in Jilin, the corn starch spot price was 2700 yuan/ton, unchanged [3] - Ukraine wheat export: As of June 11, 2024/25, Ukraine exported 1518.4 tons of wheat, lower than the previous year. The export volume has reached 93.7% of the quota, with 100 tons of quota remaining [3] Market Analysis - On the supply side, grassroots grain reserves are exhausted, and traders need to clear inventory for wheat purchases. On the demand side, deep - processing enterprises have low operating rates, and feed enterprises mainly execute previous orders [5] Strategy - Cautiously bearish [6]