| | | | | 操作评级 | 2025年07月29日 | | --- | --- | --- | | 显一 | な☆☆ | 杨蕊霞 农产品组长 | | | | F0285733 Z0011333 | | 豆油 | な☆☆ | 吴小明 首席分析师 | | 棕榈油 | ななな | | | | | F3078401 Z0015853 | | 豆粕 | ななな | 董甜甜 高级分析师 | | 菜粕 | ☆☆☆ | | | | | F0302203 Z0012037 | | 菜油 | ☆☆☆ | | | | | 宋腾 高级分析师 | | 玉米 | ななな | | | | | F03135787 Z0021166 | | 生猎 | ★☆☆ | | | 鸡蛋 | ななな | 010-58747784 | | | | gtaxinstitute@essence.com.cn | 【豆一】 国产大豆大幅减仓回调,盘面收长下影线。本周中美贸易谈判牵动市场情绪,持续关注谈判结果。政策方面本周国产大豆双向 购销政策今日全部成交、成交均价4374元/吨，溢价50-210元/吨。短期东北地区降水偏多，需要防范低洼农田出现滞涝风险。 ...

Group 1 - The core viewpoint of the articles highlights the rebound in CBOT soybean futures due to anticipated increases in U.S. soybean export demand, particularly following Indonesia's commitment to purchase $4.5 billion worth of U.S. agricultural products [1] - The domestic soybean meal supply is currently ample, which is suppressing upward price movement, while downstream inventory levels are nearing saturation due to previous active replenishment [1] - The A-share market saw a rise in the livestock sector, with notable increases in stocks such as Bio-Group (+8.31%), Luo Niu Shan (+2.09%), and others, indicating a positive market sentiment towards the livestock industry [1] Group 2 - The soybean meal ETF (159985) is recognized not only as a standalone investment but also for its long-term investment value in asset allocation, inflation hedging, and roll yield [2] - Soybean meal has a low correlation with the stock market, suggesting that it can be a strategic long-term allocation even if short-term price increases are uncertain [2] - As the largest production variety among 12 oilseed meal feed types, soybean meal has a solid spot market foundation, enhancing its investment appeal [2]