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豆类油脂早报-20250624
Bao Cheng Qi Huo·2025-06-24 01:39

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Views of the Report - The soybean meal market shows an intraday view of being weakly volatile and a medium - term view of being strongly - trending. The core logic is that favorable rainfall in US soybean - producing areas has improved the weather outlook, causing US soybean futures prices to fluctuate weakly. The domestic soybean market's trading logic remains unchanged, and the room for further decline is limited after giving back some weather - risk premiums following the US soybean futures prices [5]. - The palm oil market has an intraday view of being weakly volatile and a medium - term view of being strongly - trending. The core logic is that with the sharp drop in international oil prices, the energy spill - over support for the oil and fat market has weakened. The palm oil market is a short - term game between increasing production and strong demand, and strong export demand helps offset some inventory pressure. The domestic palm oil market lacks its own drivers and follows other oils and the international palm oil futures prices [6][8]. Group 3: Summary by Related Catalogs Soybean Meal (M) - Time - frame Views: Short - term (within a week) is strongly - trending, medium - term (two weeks to a month) is strongly - trending, and intraday is weakly volatile. The reference view is weakly volatile. - Core Logic: Import arrival rhythm, customs clearance inspection, oil refinery operation rhythm, and stocking demand [7]. Soybean Oil (2509) - Time - frame Views: Short - term is strongly - trending, medium - term is strongly - trending, and intraday is weakly volatile. The reference view is weakly volatile. - Core Logic: US biofuel policy, US soybean oil inventory, domestic soybean cost support, supply rhythm, and oil refinery inventory [7]. Palm Oil (2509) - Time - frame Views: Short - term is strongly - trending, medium - term is strongly - trending, and intraday is weakly volatile. The reference view is weakly volatile. - Core Logic: Biodiesel attributes, Malaysian palm oil production and exports, Indonesian exports, tariff policies of major producing countries, domestic arrivals and inventory, and substitution demand [7].