豆粕、豆油期货品种周报-20260112

Group 1: Report Summary - The report is a weekly report on soybean meal and soybean oil futures from January 12 - 16, 2026 [1][2] Group 2: Soybean Meal Futures Mid - term Market Analysis - Mid - term trend: The soybean meal futures are in a volatile stage. The global soybean supply is generally abundant. Domestic port soybean and oil - mill soybean meal inventories are high, and pig farming is continuously loss - making, suppressing feed demand and prices. However, the decline in domestic oil - mill operating rates, suspension of imported soybean auctions, and local shutdown expectations have caused concerns about short - term supply, and pre - Spring Festival stocking expectations are rising, providing support for the market. It is expected that the soybean meal futures price will maintain a volatile pattern. Key factors to watch include inventory depletion progress, South American weather, and arrival schedules [6] Variety Trading Strategy - Last week's strategy review: The soybean meal futures price was in a sideways trend, with bearish sentiment in terms of funds. The M2605 contract was expected to be in a weak - volatile stage in the short term, with an expected trading range of 2700 - 2800 [9] - This week's strategy advice: The soybean meal futures price is in a sideways trend, with bearish sentiment in terms of funds. The M2605 contract is expected to be in a weak - volatile stage in the short term, with an expected trading range of 2730 - 2850 [10] Relevant Data - Data includes soybean meal weekly production, weekly inventory, apparent consumption, weekly inventory days, basis, and oil - meal ratio. Data sources are Wind, Mysteel, and Great Wall Futures Trading Consultation Department [19][23][26] Group 3: Soybean Oil Futures Mid - term Market Analysis - Mid - term trend: The soybean oil futures are in a wide - range volatile stage. The global soybean supply is abundant, and the South American harvest is suppressing costs. Domestic soybean oil inventories are higher year - on - year, and pre - festival stocking demand is weak. However, due to delayed soybean arrivals and slower crushing rhythms, domestic oil mills have a strong willingness to hold prices, and there is rigid demand on the demand side. Under the game of long and short forces, the soybean oil futures price is expected to be in a wide - range volatile stage. Key factors to watch are domestic procurement rhythm changes, US bio - diesel progress, and South American weather [30] Variety Trading Strategy - Last week's strategy review: The soybean oil futures price was in a sideways trend, with bullish sentiment in terms of funds. The Y2605 contract was expected to continue the volatile trend in the short term. - This week's strategy advice: The soybean oil futures price is in an upward trend, with bullish sentiment in terms of funds. The Y2605 contract is expected to be in a volatile - bullish stage in the short term [33] Relevant Data - Data includes soybean oil weekly production, weekly inventory, basis, trading volume, soybean weekly arrivals, weekly inventory, weekly crushing volume, weekly operating rate, weekly port inventory, and Brazilian premium. Data sources are Wind, Mysteel, and Great Wall Futures Trading Consultation Department [42][47][50]