油脂油料套利周报：油脂油料跨期&跨品种套利-20250908

Report Information - Report Title: "Grease and Oil Arbitrage Weekly Report" [1] - Report Date: August 15, 2025 [2] - Report Author: Guoyuan Futures Research and Consulting Department [2] Report Industry Investment Rating - Not mentioned in the report Core Viewpoints - For soybean oil 9 - 1 spread, it is expected that the price difference will continue to widen. The recommended entry range is 60 - 70, and the target profit - taking range is 100 - 110 [5] - For 2509 soybean - palm oil spread and 2601 soybean - palm oil spread, due to the reversal of the supply - demand pattern, it is recommended to stop loss [6][7] - For 2601 rapeseed - soybean oil spread, the rapeseed series fluctuated greatly during the week and hit the stop - loss point [8] Summary by Directory 1. Key Contracts to Focus On | Spread Name | Current Value | Five - year Max | Five - year Median | Five - year Min | One - year Max | One - year Median | One - year Min | 2024 Same - period Value | 2023 Same - period Value | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Soybean Meal 9 - 1 Spread | - 54.0 | 928.0 | 45.5 | - 189.0 | 37.0 | - 36.5 | - 66.0 | - 54.0 | 615.0 | | Palm Oil 9 - 1 Spread | - 66.0 | 1144.0 | 138.0 | - 360.0 | 260.0 | 52.0 | - 360.0 | 142.0 | 34.0 | | Soybean Meal 5 - 9 Spread | - 155.0 | 319.0 | - 40.5 | - 191.0 | - 10.0 | - 109.5 | - 191.0 | - 120.0 | - 19.0 | | Rapeseed Meal 5 - 9 Spread | - 93.0 | 589.0 | - 2.0 | - 145.0 | 65.0 | - 69.0 | - 145.0 | - 91.0 | - 12.0 | | September Soybean - Palm Oil Spread | - 832.0 | 2130.0 | 488.0 | - 938.0 | 182.0 | - 530.0 | - 938.0 | - 302.0 | 772.0 | | September Soybean Oil - Meal Ratio | 2.8 | 3.0 | 2.4 | 1.7 | 2.8 | 2.6 | 2.4 | 2.5 | 1.8 | [12] 2. Inter - period Arbitrage Charts - Include historical and seasonal trend charts of spreads such as soybean meal 9 - 1, soybean oil 9 - 1, palm oil 9 - 1, rapeseed oil 9 - 1, rapeseed meal 9 - 1, soybean meal 5 - 9, soybean oil 5 - 9, palm oil 5 - 9, rapeseed oil 5 - 9, rapeseed meal 5 - 9, soybean meal 1 - 5, soybean oil 1 - 5, palm oil 1 - 5, rapeseed oil 1 - 5, and rapeseed meal 1 - 5 [10][13][16] 3. Inter - product Arbitrage Charts - Include charts of spreads such as January soybean - rapeseed meal difference, May soybean - rapeseed meal difference, September soybean - rapeseed meal difference, January rapeseed - soybean oil difference, May rapeseed - soybean oil difference, September rapeseed - soybean oil difference, January soybean - palm oil difference, May soybean - palm oil difference, September soybean - palm oil difference, January rapeseed - palm oil difference, May rapeseed - palm oil difference, September rapeseed - palm oil difference, January soybean oil - meal ratio, May soybean oil - meal ratio, September soybean oil - meal ratio, January rapeseed oil - meal ratio, May rapeseed oil - meal ratio, and September rapeseed oil - meal ratio [11][74][80]