蛋白数据日报-20260312

Reporting Industry Investment Rating - Not provided in the content Core Viewpoints - The USDA March supply and demand report had no obvious highlights and its impact was neutral [4]. - Brazil's soybean harvest is currently more than half - completed, slower than the same period last year, with a sales progress of around 41.2%. Recently, the premium quotes are scarce due to large oil price changes and sellers' inability to determine freight [4]. - There is still a risk of rising shipping and fertilizer costs due to the short - term Middle East war. Brazilian beans may be delayed in arrival due to customs inspection and quarantine issues, which is beneficial for near - month and inter - month positive spreads. Attention should be paid to the subsequent progress of the Middle East war and changes in domestic customs policies, while being aware of the risk of price drops [4]. Summary by Relevant Catalogs Spot Basis Data - For 43% soybean meal spot basis (against the main contract) on March 11th: in Dalian it was 332 with a decline of 55; in Tianjin it was 252 with a decline of 35; in Rizhao it was 182 with a decline of 25; in Zhangjiagang it was 182 with a decline of 45; in Dongguan it was 252 with an increase of 25; in Zhanjiang it was 232 with an increase of 5; in Fangcheng it was 212 with an increase of 5 [3]. - For rapeseed meal spot basis on March 11th: in Guangdong it was 105 with an increase of 160; in NE - d it was 14 with an increase of 63; RM5 - 9 was 10 with an increase of 50 [3]. Spread Data - The spot spread of soybean meal - rapeseed meal in Guangdong was 745 with a decline of 68, and the main contract spread was 588 [4]. International Data - The US dollar to RMB exchange rate was 6.8321, and the Brazilian soybean CNF premium was 187.00 cents per bushel with an increase of 115 [4]. Inventory Data - The content presents the historical data trends of China's port soybean inventory, major oil mills' soybean inventory, major oil mills' soybean meal inventory, and feed enterprises' soybean meal inventory days from 2018 - 2026 [4]. 开机 and Pressing Situation - The content shows the historical data trends of major oil mills' soybean pressing volume, major oil mills' startup rate, downstream cargo volume, and downstream trading volume from 2019 - 2026 [4].