建信期货豆粕日报-20251030

Report Summary 1. Reported Industry Investment Rating No investment rating for the industry is provided in the report. 2. Core Viewpoints of the Report - The future direction depends on the outcome of the current round of negotiations. It is expected that the price volatility may increase next week. It is recommended that investors hold an empty or light - position. Aggressive investors can consider the option double - buying strategy to gain potential returns from the rising volatility [6]. 3. Summary by Related Catalogs a. Market Review and Operation Suggestions - Market Conditions: The US soybean futures contracts were relatively strong, with the main contract at 1075 cents. The domestic soybean meal rebounded slightly from its low level last week but was weaker than the external market. The market was affected by the China - US talks, and the bulls were hesitant to enter the market due to the uncertainty of importing US soybeans. Also, potential positive factors could not be realized because of the US government shutdown [6]. - Operation Suggestions: Pay attention to the results of the negotiation. It is recommended that investors hold an empty or light - position. Aggressive investors can consider the option double - buying strategy [6]. b. Industry News - As of Sunday, the US soybean harvest is expected to be 84% complete, and corn harvest 72% complete. Analysts' forecasts for the US harvest progress range from 80% - 88% for soybeans and 67% - 80% for corn. Last year, the soybean harvest progress was 89%, and the corn harvest progress was 81% [7]. - Brazil's soybean exports in October are expected to reach 7 million tons, down from the previous week's estimate of 7.34 million tons. Brazil's soybean meal exports in October are expected to reach 2.08 million tons, down from 2.09 million tons the previous week [9].