国投期货农产品日报-20250626

1. Report Industry Investment Ratings - Buy (★★★): Soybean (Bean 1), Soybean Meal, Soybean Oil, Palm Oil, Corn [1] - Sell (★☆☆): Rapeseed Meal, Rapeseed Oil, Live Pigs, Eggs [1] 2. Core Views - The report analyzes the market trends of various agricultural products, including soybeans, soybean meal, soybean oil, palm oil, rapeseed meal, rapeseed oil, corn, live pigs, and eggs. Short - term market trends are affected by factors such as weather, planting area reports, and policy changes, while long - term trends are influenced by supply - demand relationships and bio - diesel development [2][3][4] 3. Summary by Related Catalogs 3.1 Soybean (Bean 1) - Domestic soybeans are in a downward trend. U.S. soybeans are weak due to favorable short - term weather and market waiting for the planting area report. There is little residual grain at the grass - roots level of domestic soybeans, and the policy side is conducting auctions. Short - term focus is on the U.S. soybean area report and weather [2] 3.2 Soybean & Soybean Meal - Soybean meal futures fell 2.43% today. Before the U.S. Department of Agriculture's planting area report on July 1, institutions predict an average soybean planting area of 83.655 million acres. U.S. weather is favorable for soybean growth. Domestic spot prices are falling, and oil mill soybean meal inventories are increasing. The soybean meal market is currently in a volatile state [3] 3.3 Soybean Oil & Palm Oil - U.S. soybeans are weak. Brazil will raise the biodiesel blending ratio to 15% from August 1. The decline of soybean and palm oil has slowed. In the long - term, a long - position strategy for vegetable oils is recommended, waiting for the U.S. soybean planting area report [4] 3.4 Rapeseed Meal & Rapeseed Oil - Rapeseed meal futures continue to be weak. The weather in North American oilseed areas is good. The inventory of rapeseed meal and rapeseed oil in oil mills is low, but the East China inventory is sufficient. A short - position strategy for rapeseed products is recommended [6] 3.5 Corn - Dalian corn futures are fluctuating weakly. There are policies on wheat prices, and the expected state reserve auction suppresses the increase of corn prices. The inventory situation varies between north and south ports. Corn futures are expected to be volatile [7] 3.6 Live Pigs - The main contract of live pig futures rebounds slightly, and the far - month contract is relatively weak. Spot prices are rising slightly. In the medium - term, the pressure of pig supply is large, and the long - term focus is on policy and production capacity inflection points [8] 3.7 Eggs - The main contract of egg futures shows a doji pattern. Spot prices are stable in some areas and slightly lower in others. Egg production capacity is still being released, and a short - position strategy for egg futures is recommended [9]