【冠通期货研究报告】：油粕日报：关注近月到港-20260316

Group 1: Report Summary - The report is an oil and meal daily report released by Guantong Futures on March 16, 2026, focusing on the soybean meal and oil markets [1]. Group 2: Soybean Meal - Marex reported that this week's Brazilian soybean sales to China dropped to only five vessels, even lower than the six - vessel level during the usually quiet Spring Festival. Sales this week dropped about four - fold compared to last week, with about 1.5 million tons sold this Friday (March 13) compared to about 6 million tons last week [1]. - The sharp decline reflects the impact of the change in inspection procedures for grain shipments to China by the Brazilian Ministry of Agriculture. The Brazilian government is sending an official to China to discuss inspection procedures and phytosanitary regulations [1]. - CONAB's sixth survey of the year predicts Brazil's 2025/26 soybean production at a record 177.847 million tons, down 1.38 million tons from last month's forecast, but up 3.7% from last year [2]. - The soybean planting area is 48.435 million hectares, slightly higher than last month's prediction, and up 2.3% year - on - year. The expected yield per hectare is 3,672 kg, down from last month's prediction and up 1.4% year - on - year [2]. - Brazil temporarily canceled a quarantine measure, allowing soybean loading to resume. After last week's high, the market has fallen but the issue is unresolved, and the premium remains. Short - term high - level fluctuations are expected [2]. Group 3: Oils - According to AmSpec, Malaysia's palm oil exports from March 1 - 15 were 921,606 tons, a 56.89% increase from the same period last month [2]. - Indonesia's president called on coal, crude palm oil and derivative producers and distributors to prioritize domestic demand before exporting, and the government will implement stricter export controls. The DMO obligation for Indonesian palm oil since August 2024 has been 250,000 tons per month [3]. - With the rise in crude oil prices, bio - fuel policies in Indonesia (B50) and the US are pending. Short - term oil prices are expected to remain strong, but the Middle - East situation at the end of the month should be watched [3].