不锈钢农产品日报-20250912

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Corn: In the current new - old crop transition period, the spot market shows weak prices in North Ports and strong prices in production areas, with chaotic and differentiated quotes. Corn futures prices can move up or down. The short - term 11 - month contract has a pressure area at 2180 - 2200, with a short - term adjustment expected and a medium - term bearish outlook due to expected high yields and lower costs [1]. - Soybean and Soybean Meal: CBOT soybeans rose on Thursday. Analysts expect a decrease in US soybean yield, export estimates, and a slight reduction in inventory. Domestic soybean meal prices are mainly oscillating, with stable import costs, sufficient domestic supply, and increased apparent consumption. Short - term participation is recommended [1]. - Oils: BMD palm oil closed higher on Thursday, but weak demand curbed the increase. Canadian rapeseed and US soybean oil also rose. Domestic oil futures prices are oscillating. Strategies include trading volatility or selling put options [1]. - Eggs: Egg futures oscillated on Thursday. Seasonal increases support spot prices, but supply pressure limits the rebound. With the current long - short game, it is recommended to wait and see and focus on market sentiment and supply - side changes [1][2]. - Pigs: Pig futures continued to oscillate on Thursday. Spot prices are generally stable with partial adjustments. The short - term fundamentals are stable, and the market is waiting for policy guidance [2]. Summary by Related Catalogs Market Information - EU Soft Wheat and Corn: The EU's 2025/26 soft wheat production is expected to reach a record high of 136.1 million tons, up 330,000 tons from last month's forecast and 19.8% higher than the previous season. However, EU soft wheat exports are weak due to Russian competition and lack of Chinese imports. The EU's corn production forecast is lowered to 55.7 million tons, a 5.4% decrease from 2024/25 due to adverse weather [3]. - Malaysian Palm Oil: From September 1 - 10, 2025, Malaysian palm oil's yield, oil extraction rate, and production decreased compared to the same period last month [3]. - Imported Soybean Auction: On September 11, the National Grain Trading Center planned to auction 22,524.3 tons of imported soybeans, all of which were sold at an average price of 3801 yuan/ton [4]. Variety Spreads - Contract Spreads: The report provides charts of 1 - 5 spreads for various agricultural products including corn, corn starch, soybeans, soybean meal, eggs, and pigs [5][6][7][11]. - Contract Basis: The report provides charts of the basis for various agricultural products such as corn, corn starch, soybeans, soybean meal, eggs, and pigs [13][14][17][24].