蛋白数据日报-20260309

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - The ongoing Middle East conflict has raised concerns about rising shipping and planting costs, and the war risk premium supports the US soybean and soybean meal futures. In the short term, it is recommended to monitor international situation dynamics. Due to the unpredictability of the war's duration, caution is advised for unilateral operations [11] Summary by Relevant Catalogs Spot Basis Data - On March 6, the 43% soybean meal spot basis in Dalian, Rizhao, and Zhangjiagang was 285, 165, and 155 respectively, with changes of -32, -32, and -42; in Tianjin, it was 235 with a change of -22; in Dongguan, it was 185 with a change of -12; in Zhanjiang and Fangcheng, it was 185 with a change of -32. The rapeseed meal spot basis in Guangdong was -64 with a change of -189, and N2 - d was -88 with a change of 24, RM5 - 9 was -35 with a change of 14 [3] Spread Data - The spot spread of soybean meal - rapeseed meal in Guangdong was 200, and the spread of the main contract was 541 with a change of 16. The Brazilian soybean CNF premium showed a stable - to - weak trend, and the US dollar - to - RMB exchange rate was 6.8597. The Brazilian soybean FOB premium was under pressure due to a bumper harvest, and the short - term shipping cost still had an upward risk [3][4] Inventory Data - The report presents the historical data trends of national major oil mills' soybean inventory, Chinese port soybean inventory, national major oil mills' soybean meal inventory, and feed enterprises' soybean meal inventory days from 2018 - 2026 [5][6][7][8] 开机和压榨情况 - The report shows the historical data trends of national major oil mills' operating rate, soybean crushing volume, and downstream trading volume from 2019 - 2026 [9][10] Origin Situation - In Brazil, recent rainy weather has slowed down the soybean harvest progress. As of February 28, 41.7% of the national soybeans were harvested, compared with 18.4% in the same period last year. In Argentina, the growth situation of soybeans has improved. As of March 4, the proportion of soybeans with good crop conditions was 30% (last week was 29%, 31% in the same period last year), normal was 4% (last week was 45%, 19% in the same period last year), and fair or poor was 26% (last week was 26%, 20% in the same period last year) [11]