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豆粕：关注前高技术压力位，谨防冲高回落，豆一：回落调整
Guo Tai Jun An Qi Huo·2025-07-21 02:27

Report Industry Investment Rating - Not provided in the content Core Viewpoints - Concern about the high technical pressure level of soybean meal and guard against a pullback after a spike; soybean No. 1 is in a pullback adjustment [1] - On July 18, CBOT soybean futures rose for the third consecutive trading day, with the benchmark contract up 0.8% to a two - week high due to concerns about high - temperature weather threatening US crops and the expectation that US biofuel policies will boost domestic soybean oil demand [3] Summary by Related Catalogs Fundamental Tracking - Futures Prices: DCE soybean No. 1 2509 closed at 4189 yuan/ton during the day session, down 5 yuan (-0.12%), and 4176 yuan at night, down 22 yuan (-0.52%); DCE soybean meal 2509 closed at 3056 yuan/ton during the day session, up 45 yuan (+1.49%), and 3067 yuan at night, up 24 yuan (+0.79%); CBOT soybean 11 closed at 1035 cents/bushel, up 7.75 cents (+0.75%); CBOT soybean meal 12 closed at 288.8 dollars/short ton, up 5.3 dollars (+1.87%) [1] - Spot Prices: In Shandong, the price of soybean meal was 2910 - 2960 yuan/ton, up 20 - 40 yuan from the previous day; in East China, it was 2830 - 2920 yuan/ton, up 20 or 40 yuan; in South China, it was 2900 - 2960 yuan/ton, up 10 - 50 yuan [1] - Industrial Data: The trading volume of soybean meal was 14.31 million tons/day, down from 16.81 million tons/day in the previous trading day; the inventory was not available, and the previous week's inventory was 84.29 million tons [1] Macro and Industry News - On July 18, CBOT soybean futures rose for three consecutive days. The market was worried that high - temperature weather might threaten US crops, and US biofuel policies would boost domestic soybean oil demand. Traders also focused on the strong expected demand for US soybean oil and closely monitored US weather conditions as August is the critical growth period for soybeans [3] Trend Intensity - The trend intensity of soybean meal is +1; the trend intensity of soybean No. 1 is 0, referring only to the price fluctuations of the main contract during the day session on the reporting day [3]