农产品日报（2026 年3 月17日）-20260317

1. Report Industry Investment Rating No information provided 2. Core Viewpoints of the Report - Corn: The price of the main 2605 contract of corn fell below the 2400 yuan integer - level support, and the price showed a downward - trending shock. The supply of wheat increased, which put pressure on the corn price. The price in the Northeast was slightly adjusted, while that in North China continued to rise. The downstream was cautious in purchasing, and the market trading volume was average. It is recommended to pay attention to policy trends [1]. - Soybean and related products: CBOT soybeans hit a two - year high and then fell by the daily limit. The export inspection volume of US soybeans was higher than expected, but the export volume of Brazilian soybeans decreased year - on - year. Domestic protein meal followed the decline. It is recommended to close long positions [1]. - Palm oil and other oils: BMD palm oil rose for four consecutive days, while CBOT soybean oil fell. The export of Malaysian palm oil increased, and domestic oils were strong. It is recommended to reduce long positions [1]. - Eggs: The main 2605 contract of egg futures rebounded slightly. The spot price was stable with partial increases. Due to sufficient supply and off - season demand, it is recommended to wait and see and pay attention to supply and market sentiment [1][2]. - Pigs: The main 2605 contract of live - hog futures fell sharply to a new low. The spot price was stable with partial changes. Due to sufficient supply and off - season demand, it is necessary to pay attention to the impact of macro and spot price changes on the futures [2]. 3. Summary by Related Catalogs Research Viewpoints - Corn: On Monday, the corn contract reduced positions and declined. The 2605 contract price fell below 2400 yuan. After the policy of 500,000 tons of wheat supply, the willingness to sell corn increased. The price in the Northeast was slightly adjusted, and that in North China continued to rise. The downstream was cautious in purchasing, and the price decline space was limited. It is recommended to pay attention to policy impacts [1]. - Soybean and related products: CBOT soybeans hit a two - year high and then fell by the daily limit. The US soybean crushing volume in February exceeded expectations, and the export inspection volume was 966,000 tons. Brazilian soybean exports in the first two weeks of March decreased by 16% year - on - year. Domestic protein meal followed the decline, and long positions should be closed [1]. - Palm oil and other oils: BMD palm oil rose for four consecutive days, while CBOT soybean oil fell. The export of Malaysian palm oil from March 1 - 15 increased by 43.5% - 56.9% month - on - month. Domestic oils were strong, and long positions should be reduced [1]. - Eggs: The main 2605 contract of egg futures rebounded slightly, and the spot price was stable with partial increases. Due to sufficient supply and off - season demand, it is recommended to wait and see and pay attention to supply and market sentiment [1][2]. - Pigs: The main 2605 contract of live - hog futures fell sharply to a new low. The spot price was stable with partial changes. Due to sufficient supply and off - season demand, it is necessary to pay attention to the impact of macro and spot price changes on the futures [2]. Market Information - Military actions: Israel's military actions against Iran will continue for at least three more weeks, and the US may send more warships to the Middle East [3]. - Monetary data: At the end of February, the balance of broad money (M2) was 349.22 trillion yuan, a year - on - year increase of 9% [3]. - Regulatory meeting: The China Securities Regulatory Commission will strengthen monitoring and supervision of domestic and foreign, futures and spot markets [3]. - Iron ore: The inventory of imported iron ore in 45 ports increased by 696,600 tons, and the daily handling volume increased by 68,200 tons [3]. - Fertilizer: The state will advance the release of national fertilizer reserves, and the price of urea futures on the Chicago Mercantile Exchange has risen by more than 20% [3][4]. - Oil: Iraq is ready to resume oil exports, and Bahrain Aluminium has started phased production cuts [3][4]. - Methanol: The inventory of methanol in East China ports decreased by 72,000 tons [4]. Variety Spreads - Contract spreads: Include corn 5 - 9, corn starch 5 - 9, bean 5 - 9, soybean meal 5 - 9, soybean oil 5 - 9, palm oil 5 - 9, egg 5 - 9, and live - hog 5 - 9 spreads [6][7][8][10]. - Contract basis: Include corn, corn starch, soybean, soybean meal, soybean oil, palm oil, egg, and live - hog contract basis [13][15][19][21].