农产品日报-20251225

Group 1: Report Industry Investment Ratings - Corn: Downward [1] - Soybean Meal: Sideways [1] - Oils: Sideways [1] - Eggs: Sideways [1] - Pigs: Upward [2] Group 2: Core Views of the Report - Corn: On Wednesday, corn continued to fluctuate. The trading in the Northeast was lackluster, and there was no profit in shipping goods to the northern port. The price in North China remained stable. The overall inventory of deep - processing enterprises was increasing, and the terminal demand was weak. Technically, the March contract showed signs of stabilizing, and short - term long positions with light positions could be considered [1]. - Soybean Meal: On Wednesday, CBOT soybean prices rose as investors adjusted their positions before the long holiday. In China, the two - meal market fluctuated downward, with spot prices slightly falling. The spot inventory was high, and the trading volume of forward contracts was large. The market atmosphere was light, and the price range was limited. A double - selling strategy was recommended [1]. - Oils: On Wednesday, BMD palm oil was basically flat. International crude oil prices rose for the sixth consecutive day. The output of Malaysian palm oil from December 1 - 20 decreased by 7.44% month - on - month. In China, soybean oil and palm oil fluctuated, while rapeseed oil rose. The price direction was unclear, and a double - selling strategy was recommended [1]. - Eggs: On Wednesday, egg futures rebounded from a low level. The spot price was weak due to sufficient supply, despite the approaching New Year's Day. There was uncertainty in capacity reduction, so it was recommended to wait and see [1][2]. - Pigs: On Wednesday, the main 2603 contract of live pigs closed with a small阳线, and the spot price increased. The daily slaughter volume of key breeding enterprises increased, and the average weight decreased slightly. Technically, short - term attention should be paid to the bottom performance of the March contract, and long - term long positions with light positions could be considered for forward contracts [2]. Group 3: Summary According to Market Information - Malaysian palm oil production from December 1 - 20 decreased by 7.44%, with different decreases in different regions [3]. - On December 23, the CNF quotes of 24 - degree palm oil imports for January and February shipments increased week - on - week, and the corresponding arrival and tax - paid costs in South China also rose [3]. - The trading volume of soybean meal in major domestic oil mills fluctuated. On December 24, the total trading volume was 18.45 tons, an increase of 10.99 tons from the previous day [3]. Group 4: Summary According to Variety Spreads - The report presents various contract spreads and contract basis charts, including those of corn, corn starch, soybeans, soybean meal, soybean oil, palm oil, eggs, and pigs [5][13]