蛋白数据日报-20260305

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - Amidst the risk premium of commodities due to the Middle - East conflict and rising freight rates, the F08 price of soybeans is under pressure from the selling pressure of Brazil's bumper harvest. With the global large - scale supply suppressing, the upside of the soybean meal futures is limited in the short term. Later, attention should be paid to the release of Brazil's selling pressure, Sino - US trade dynamics, and domestic reserve release. In China, with high inventories of soybeans and soybean meal in oil mills and sufficient downstream stockpiling, the buying interest is weak, and the spot basis of soybean meal is expected to be under pressure [5] 3. Summary by Relevant Catalogs 3.1 Basis Data - For 43% soybean meal spot basis on March 4th: in Dalian it was 331 with a decrease of 13; in Tianjin it was 271 with a decrease of 13; in Rizhao it was 231 with a decrease of 13; in Zhangjiagang it was 231 with a decrease of 13; in Dongguan it was 211 with a decrease of 13; in Zhanjiang it was 231 with a decrease of 13; in Fangcheng it was 251 with a decrease of 13. For rapeseed meal spot basis, in Guangdong it was 45 with an increase of 16, and NE - d was - 115 with an increase of 5, RM5 - 9 was - 53 with an increase of 6 [3] 3.2 Spread Data - The spot spread of soybean meal - rapeseed meal in Guangdong was 639 with a decrease of 23, and the futures spread of the main contract was 526 [4] 3.3 International Data - The US dollar to RMB exchange rate was 6.8741. The CNF premium of soybeans in 2025 and the import soybean futures gross profit are presented in the form of a chart, including data of different months in Brazil [4] 3.4 Inventory Data - The inventory data of soybeans in Chinese ports, soybeans in major domestic oil mills, soybean meal inventory days of feed enterprises, and soybean meal inventory in major domestic oil mills are presented in the form of a chart from 2020 - 2026 [4][5] 3.5开机和压榨情况 (Operation and Pressing Situation) - The operation rate and soybean pressing volume of major domestic oil mills from 2020 - 2026 are presented in the form of a chart, as well as the downstream purchase volume and trading volume from 2017 - 2026 [5]