农产品日报-20260113

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - Corn: The corn 2603 contract increased in volume and price, with the near - term leading and the long - term following. The price of the March contract approached 2300 yuan. The spot market had narrow price adjustments due to pre - holiday stocking. The overall market was in an oscillatory state, and short - term long positions should pay attention to the pressure at the previous high [2]. - Soybean and Soybean Meal: CBOT soybeans closed down as the US Department of Agriculture raised the US 25/26 annual soybean production forecast and lowered the export forecast. Domestic soybean meal was mainly oscillatory, waiting for the supply - demand report. The strategy was a double - selling strategy [2]. - Palm Oil: BMD palm oil rose due to the realization of negative reports and positive export data. The market expected the palm oil to enter the de - stocking cycle in January. The domestic oil prices generally rose, and the strategy was to sell put options [2]. - Eggs: The egg 2603 contract rose first and then fell. The spot price rebounded, but the supply was sufficient. The futures were in a short - term callback after a rebound, and attention should be paid to whether the main contract could break through the long - term moving average [2]. - Pigs: The live hog 2603 contract oscillated, and the spot price was stable with a slight increase. The breeding side reduced supply to support prices. The future production capacity was likely to decline, and the short - term disk was in an oscillatory adjustment [3]. 3. Summary by Relevant Catalogs 2. Market Information - The MPOB released the December data of Malaysian palm oil. The production decreased by 5.46% month - on - month, the export increased by 8.52% month - on - month, the apparent demand decreased slightly, and the inventory was within the expected range. The December data was neutral. In the short - to - medium term, the supply - demand pressure in the production season may gradually bottom out, and attention should be paid to the implementation of the slight increase in the Indonesian export LEVY and the US RVO policy [4]. 3.1 Contract Spread - The report presented charts of contract spreads for corn 5 - 9, corn starch 5 - 9, soybeans 5 - 9, soybean meal 5 - 9, soybean oil 5 - 9, palm oil 5 - 9, eggs 5 - 9, and live hogs 5 - 9, but no specific analysis was provided [6][7][9][12] 3.2 Contract Basis - The report presented charts of contract basis for corn, corn starch, soybeans, soybean meal, soybean oil, palm oil, eggs, and live hogs, but no specific analysis was provided [15][17][19][25]