豆一期货日报-20250918

Report Summary 1. Report Industry Investment Rating No information provided 2. Core View The price of the main contract of DCE Bean No.1 futures (A2511) was blocked from rebounding and showed a weak trend. In the short term, in the context of the stable - to - declining spot price of soybeans, the price of the A2511 contract of Bean No.1 futures may continue the low - level volatile and weak trend [2][14] 3. Summary by Directory 3.1 Futures Market - Contract Market: On September 16, 2025, the main contract of DCE Bean No.1 futures (A2511) was blocked from rebounding and fluctuated weakly throughout the day. The opening price was 3935 yuan/ton, the highest price was 3948 yuan/ton, the lowest price was 3922 yuan/ton, and the closing price was 3924 yuan/ton, a decrease of 18 yuan/ton or 0.46% from the previous day. The trading volume was 102,878 lots, the open interest was 210,185 lots, and the daily increase in positions was 12,737 lots [2] - Variety Price: Different contracts of Bean No.1 futures all showed a downward trend. For example, the A2511 contract closed at 3924 yuan/ton, down 18 yuan/ton or 0.46%; the A2601 contract closed at 3930 yuan/ton, down 11 yuan/ton or 0.28% [3] 3.2 Spot Market - Basis and Registered Warehouse Receipts: The basis of Bean No.1 was 136 yuan/ton, and the basis continued to strengthen. The total number of registered warehouse receipts of Bean No.1 was 7952 lots, which was the same as the previous trading day [5] 3.3 Influencing Factors - Important Events: The average quotation of domestic soybeans was 4037 yuan/ton, a month - on - month decrease of 0.47%, and the spot price of soybeans weakened slightly. The inventory of soybeans in major ports was 6.6584 million tons, a month - on - month decrease of 0.69%, and the inventory accumulation speed of port soybeans slowed down [8][9] - Industry News: The landed duty - paid price of imported soybeans in the near - month was blocked from rebounding, with stable - to - decreasing prices. The domestic soybean crushing profit was stable - to - decreasing, while the decline of the imported soybean crushing profit slowed down and the profit stabilized and rebounded [10]