大连商品交易所农产品日报-20260326

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - Corn is expected to be in a weak and volatile trend. The main short - position holders of the May contract reduced their positions, providing short - term price support. Northeast corn prices are stable, North China prices are slightly weak with limited downward space, and sales area prices are rising. The 2605 contract of corn fluctuates after the wheat supply policy, and short - term participation is recommended [1]. - Soybean meal is expected to be volatile. CBOT soybeans rose due to bargain - hunting, while domestic protein meal declined. Factors such as weak US soybeans, falling crude oil, and the China - Brazil agricultural meeting are negative for the market. Short - term participation is advised [1]. - Fats and oils are expected to be volatile. BMD palm oil fell to a two - week low due to falling crude oil and other fats. The domestic fats and oils market is weak, following the decline in import costs. Short - term participation is recommended [1]. - Eggs are expected to be volatile. The 2605 contract of eggs rose slightly. Spot prices are mostly stable, and the futures are expected to be range - bound with the lower limit of the range rising due to cost support [1]. - For the pig market, the description is the same as that of corn, with short - term price support from the reduction of short - positions in the May contract, and short - term participation is recommended [2]. 3. Summary by Relevant Catalogs 3.1 Research Viewpoints - Corn: On Wednesday, corn reduced positions and adjusted. The main short - position holders of the May contract left the market, supporting short - term prices. Northeast corn prices are stable, North China prices are slightly weak, and sales area prices are rising. Technically, the 2605 contract fluctuates after the wheat supply policy, and short - term participation is recommended [1][2]. - Soybean Meal: On Wednesday, CBOT soybeans rose due to bargain - hunting, while US soybean meal fell. The domestic protein meal continued to decline, affected by factors such as weak US soybeans, falling crude oil, and the China - Brazil agricultural meeting. Spot market prices continued to fall, and short - term participation is recommended [1]. - Fats and Oils: On Wednesday, BMD palm oil fell to a two - week low. The domestic fats and oils market is weak, following the decline in import costs. Spot market is dull, and short - term participation is recommended [1]. - Eggs: On Wednesday, egg futures fluctuated, and the 2605 contract rose 0.26%. Spot prices are mostly stable. After a continuous rise, the supply still pressures the egg price, and the futures are expected to be range - bound with the lower limit rising [1]. - Pigs: The description is the same as that of corn, with short - term price support from the reduction of short - positions in the May contract, and short - term participation is recommended [2]. 3.2 Market Information - Military actions against Iran by the Israeli Defense Forces will continue for at least three more weeks, with thousands of targets remaining [2]. - The Pentagon is considering sending more warships to the Middle East to escort oil tankers passing through the Strait of Hormuz [2]. - At the end of February, the balance of broad - money (M2) was 349.22 trillion yuan, a year - on - year increase of 9% [2]. - In 2026, China will strengthen the bottom - line thinking and monitor and regulate the linkage between domestic and foreign, futures and spot markets [3]. - The total inventory of imported iron ore at 45 ports in China is 17187.52 tons, a week - on - week increase of 69.66 tons; the daily average port clearance volume is 317.90 tons, an increase of 6.82 tons; the number of ships at ports is 110, a decrease of 2 [3]. - The rebound of iron ore prices at the end of February is mainly due to sentiment and technical repair, lacking fundamental support [3]. - The US Treasury issued a 30 - day license allowing countries to buy Russian oil and oil products stranded at sea [3]. - China will organize the early release of the 2025/2026 national fertilizer commercial reserve [3]. - After the US - Israel attack on Iran, energy and fertilizer prices soared, and the price of the urea futures contract on the Chicago Mercantile Exchange rose by more than 20% compared with before the attack [3]. - Iraq is ready to resume oil exports through the Ceyhan pipeline, with a daily export volume of no more than 300,000 barrels, while the Kurdistan region refuses to resume exports [4]. - Bahrain Aluminium Company has started phased production cuts due to the near - stagnation of transportation in the Strait of Hormuz [4]. - As of March 12, the methanol inventory at East China ports was 54.80 tons, a decrease of 7.2 tons compared with March 5 [4]. 3.3 Variety Spreads - Contract Spreads: The report provides charts of 5 - 9 spreads for corn, corn starch, soybeans, soybean meal, soybean oil, palm oil, eggs, and pigs [5][6][7][8][11]. - Contract Basis: The report provides charts of the basis for corn, corn starch, soybeans, soybean meal, soybean oil, palm oil, eggs, and pigs [9][13][15][17][23].