Report Summary 1) Report Industry Investment Rating - No investment rating provided in the report 2) Core Viewpoints - Overnight, the US soybeans closed lower, and the Dalian soybean meal futures may fluctuate [1] - The soybean futures showed a rebound after an excessive decline [1] 3) Summary by Relevant Content a. Fundamental Tracking - Futures Prices: DCE soybean 2511 closed at 3911 yuan/ton during the day session, down 60 yuan (-0.13%), and up 8 yuan (+0.20%) to 3927 yuan in the night session; DCE soybean meal 2601 closed at 3066 yuan/ton during the day session, down 10 yuan (-0.33%), and up 12 yuan (+0.39%) to 3076 yuan in the night session; CBOT soybean 11 closed at 1025 cents/bushel, down 5.5 cents (-0.53%); CBOT soybean meal 12 closed at 285.7 dollars/short - ton, down 2.9 dollars (-1.00%) [1] - Spot Prices: In Shandong, the soybean meal (43%) price was 3050 - 3070 yuan/ton, with different premiums and discounts compared to M2601; in East China, it was 3000 yuan/ton (from a factory in Taizhou), with different premiums and discounts compared to M2601; in South China, it was 3020 - 3090 yuan/ton, with different premiums and discounts compared to M2601 [1] - Industrial Data: The previous trading day's soybean meal inventory was 106.39 tons/week, compared to 101.49 tons/week two trading days ago; the previous trading week's trading volume was 14.48 tons/day [1] b. Macro and Industry News - On September 10, CBOT soybean futures closed lower. Traders adjusted their positions before the USDA's global supply - demand report on Friday, and there were continuous concerns about Chinese demand [3] - Analysts expect the USDA to lower the US soybean and corn yield forecasts on Friday, but the production is still expected to be high. They guess the US soybean yield may be lowered to 53.3 bushels per acre from 53.6 bushels last month, and the soybean production may be 4.271 billion bushels this year [3] - The US soybean growth condition declined for the second consecutive week, although it was still above the average level [3] - Due to the deadlock in trade negotiations, US soybean exports to China were suspended, and South American competitors filled the gap, causing US farmers to miss billions of dollars in exports to China during the peak sales season [3] c. Trend Intensity - The trend intensity of soybean meal is 0, and that of soybean is +1, referring to the price fluctuations of the main - contract futures on the day session of the report day [3]
豆粕：隔夜美豆收跌，连粕或震荡，豆一：超跌反弹
Guo Tai Jun An Qi Huo·2025-09-11 02:31