1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Report's Core View - **Soybean Oil**: China's soybean oil inventory is accumulating, but it is expected to stop increasing and decline in the fourth - quarter consumption season. The futures price center may move up slightly. It is recommended to hold long positions in the main contract, with support at 8150 - 8200 yuan/ton and resistance at 8400 - 8450 yuan/ton [1]. - **Rapeseed Oil**: The main contract of rapeseed oil is weak. Although the inventory is high, it is decreasing. The short - term price may fluctuate, and the long - term price is expected to strengthen. Aggressive investors can consider going long on the 01 contract on dips [1]. - **Palm Oil**: The price is affected by the decline in international crude oil prices, but the medium - to - long - term outlook is bullish. Aggressive strategies can consider holding long positions or buying out - of - the - money call options after stabilization [2]. - **Soybean Meal and Bean No.2**: The supply of soybean meal is abundant, and the consumption is in the off - season. The price is weak. It is recommended to short the main contract lightly or sell out - of - the - money call options. For arbitrage, consider going long on the 01 contract's bean oil - meal ratio [2]. - **Rapeseed Meal**: The market is in a situation of weak supply and demand. It is recommended to go long on the 01 contract's rapeseed oil - meal ratio [4]. - **Corn and Corn Starch**: The external market is in a game between harvest pressure and good exports. The domestic market is in a low - level oscillation. It is recommended to reduce short positions on dips [5]. - **Soybean No.1**: The new - season soybeans are on the market, and the high - quality ones are popular. It is recommended to exit long positions and wait and see [6]. - **Peanut**: The new - season peanuts are on the market, and the supply pressure exists. It is recommended to hold long positions for now [6]. - **Live Pig**: The spot price stops falling, and the futures price rebounds. It is recommended to wait for capacity reduction to be confirmed and then go long on the 2607 contract on dips [8]. - **Egg**: The futures price is at the bottom and oscillating. It is recommended for conservative investors to wait and see, and aggressive investors can go long on the 2512 contract on dips [8]. 3. Summary According to Relevant Catalogs 3.1 First Part: Sector Strategy Recommendations 3.1.1 Market Analysis | Sector | Variety | Market Logic | Support | Resistance | Market Outlook | Reference Strategy | | --- | --- | --- | --- | --- | --- | --- | | Oilseeds | Soybean No.1 01 | New domestic soybeans are on the market, and downstream purchases are active. Low valuation. | 4000 - 4030 | 4100 - 4150 | Oscillatory adjustment | Exit long positions | | | Soybean No.2 11 | Weak reality collides with strong expectations. | 3500 - 3540 | 3675 - 3700 | Oscillatory adjustment | Wait and see | | | Peanut 11 | Increasing supply, poor yield in some areas of Henan. | 7500 - 7600 | 8020 - 8162 | Oscillatory adjustment | Wait and see | | Oils | Soybean Oil 01 | Stable fundamentals, affected by crude oil. Supply is sufficient, and the outlook for the fourth quarter is positive. | 8150 - 8200 | 8400 - 8450 | Oscillatory rise | Go long with a light position | | | Rapeseed Oil 01 | Import volume increased in September, but inventory in East China and coastal areas is decreasing. | 9800 - 9820 | 10220 - 10250 | Oscillatory adjustment | Go long after stabilization | | | Palm 01 | Production exceeds expectations, but inventory pressure is not large. Indonesia plans to promote B50. | 9230 - 9270 | 9650 - 9680 | Oscillatory adjustment | Go long after stabilization | | Protein | Soybean Meal 01 | Sufficient inventory, weak feed demand in the fourth quarter. Positive expectation lies in Sino - US trade friction. | 2800 - 2850 | 2960 - 2970 | Oscillatory adjustment | Hold short positions | | | Rapeseed Meal 01 | Inventory in coastal oil mills is decreasing, and market disturbances are mixed. | 2270 - 2300 | 2400 - 2430 | Oscillatory adjustment | Wait and see | | Energy and By - products | Corn 01 | After hitting a new low, sentiment is divided. Upside space is limited. | 2000 - 2020 | 2180 - 2200 | Bottom - level oscillation | Reduce short positions on dips | | | Starch 01 | Corn price is under pressure, and the spot is slightly loose. Upside support is insufficient. | 2340 - 2350 | 2500 - 2520 | Bottom - level oscillation | Reduce short positions on dips | | Livestock | Live Pig 01 | Feed price stops falling and rebounds, and the expectation of capacity reduction is strengthened. | 11800 - 12000 | 12500 - 12800 | Oscillatory bottom - seeking | Turn to waiting and seeing | | | Egg 12 | Capacity pressure and consumption peak - season expectation. | 2900 - 3100 | 3300 - 3350 | Oscillatory bottom - seeking | Wait and see | [11] 3.1.2 Commodity Arbitrage - **Inter - period Arbitrage**: For most varieties, it is recommended to wait and see, except for corn 5 - 1 (go long on dips) and live pig 1 - 3 (positive arbitrage on dips) [12]. - **Inter - variety Arbitrage**: For some oil - related and protein - related spreads, different strategies such as short - selling, long - buying, and waiting and seeing are recommended. For example, go long on the 01 contract's bean oil - meal ratio and rapeseed oil - meal ratio [12]. 3.1.3 Basis and Spot - Futures Strategy The table shows the spot prices, price changes, main contract basis, and basis changes of various varieties in different sectors such as oilseeds, oils, and proteins [13]. 3.2 Second Part: Key Data Tracking Table 3.2.1 Oils and Oilseeds - **Daily Data**: It provides the import cost data of soybeans, rapeseeds, and palm oil from different origins and shipping dates, including CNF prices, arrival - at - port duty - paid prices, etc. [15][16] - **Weekly Data**: Shows the inventory and operating rates of beans, rapeseeds, palm oil, and peanuts. For example, soybean port inventory is 729.97 (33.71), and the bean crushing operating rate is 58.00% (1.00%) [17] 3.2.2 Feed - **Daily Data**: Presents the import cost data of corn from Argentina and Brazil in different months [17]. - **Weekly Data**: Displays the consumption, inventory, operating rate, and inventory of corn and corn starch in deep - processing enterprises [18] 3.2.3 Livestock - **Daily Data**: Includes the spot prices, price changes, and relevant ratios of live pigs and eggs in different regions and at different times [19][20] - **Weekly Data**: Shows the weekly average prices, costs, profits, and other data of live pigs and eggs [21][23] 3.3 Third Part: Fundamental Tracking Charts It includes a large number of charts related to the livestock end (live pigs and eggs), oils and oilseeds (palm oil, soybean oil, peanuts), and feed end (corn, corn starch, rapeseeds, soybean meal), showing various data such as prices, inventories, operating rates, and spreads [24][33][54] 3.4 Fourth Part: Feed, Livestock, and Oil Options Situation It shows the historical volatility and trading volume of options of some varieties such as rapeseed meal, rapeseed oil, soybean oil, and palm oil [92] 3.5 Fifth Part: Feed, Livestock, and Oil Warehouse Receipt Situation It presents the warehouse receipt situations of various varieties such as rapeseed meal, rapeseed oil, soybean oil, and palm oil [100]

1. Report Industry Investment Rating There is no information about the industry investment rating in the provided report. 2. Core Views of the Report - **Soybean Oil**: The current inventory in China continues to accumulate with sufficient supply, but in the fourth - quarter consumption peak, the inventory is expected to stop increasing and decline, and the futures price center may move up slightly. Short - term prices may fluctuate due to sufficient inventory, while the medium - to - long - term outlook is positive [3]. - **Rapeseed Oil**: The market is bearish due to the expected relaxation of Canadian rapeseed - related policies. However, domestic supply will gradually tighten, and enterprises are strongly willing to hold prices. It is recommended to wait and see or use options to protect positions [3]. - **Palm Oil**: The price of the main contract dropped on Wednesday. The medium - to - long - term price outlook is positive, and it is recommended to go long after the price stabilizes [4]. - **Soybean Meal and Bean No. 2**: Global soybean production areas have good weather, and domestic supply is abundant. The price of soybean meal is expected to remain weak, and it is recommended to short lightly or sell out - of - the - money call options. For bean No. 2, it is recommended to wait and see [4]. - **Rapeseed Meal**: The price is weak. Although there is limited upside drive, the downside space is also limited. It is recommended to go long on the 01 contract rapeseed oil - meal ratio [4]. - **Corn and Corn Starch**: The external market is under pressure, and the domestic market has a bearish background. It is recommended to hold short positions cautiously [5]. - **Soybean No. 1**: With new domestic soybeans on the market and active downstream purchases, it is recommended to go long lightly [6]. - **Peanuts**: The new - season output increase expectation is discounted. It is recommended to hold long positions for now [6]. - **Hogs**: The spot price has rebounded after falling. It is recommended to wait and see in the short - term and go long on the 2607 contract after capacity reduction is confirmed [7][8]. - **Eggs**: The futures price has rebounded from the bottom. It is recommended to wait and see or go long on the 2512 contract at low prices [8]. 3. Summary According to Relevant Catalogs 3.1 First Part: Plate Strategy Recommendation 3.1.1 Market Judgment - **Oilseeds**: Bean No. 1 is expected to be volatile and bullish, and it is recommended to go long lightly; Bean No. 2 is expected to be volatile and adjusted, and it is recommended to wait and see; Peanuts are expected to be volatile and adjusted, and it is recommended to wait and see [11]. - **Oils**: Soybean oil is expected to rise with fluctuations, and it is recommended to go long lightly; Rapeseed oil is expected to be volatile and adjusted, and it is recommended to wait and see; Palm oil is expected to be volatile and adjusted, and it is recommended to go long after stabilization [11]. - **Proteins**: Soybean meal is expected to be volatile and adjusted, and it is recommended to hold short positions; Rapeseed meal is expected to be volatile and adjusted, and it is recommended to wait and see [11]. - **Energy and By - products**: Corn and corn starch are expected to be under pressure, and it is recommended to hold short positions cautiously [11]. - **Livestock Farming**: Hogs and eggs are expected to find the bottom with fluctuations, and it is recommended to wait and see [11]. 3.1.2 Commodity Arbitrage - **Inter - period Arbitrage**: Most varieties are recommended to wait and see, while hogs and eggs are recommended to conduct positive arbitrage at low prices [12]. - **Inter - variety Arbitrage**: For some oil and protein varieties, it is recommended to conduct long or short operations, and for oil - meal ratios, it is recommended to go long [12]. 3.1.3 Basis and Spot - Futures Strategies The report provides spot prices, price changes, and basis information for various varieties in different sectors [13]. 3.2 Second Part: Key Data Tracking Table 3.2.1 Oils and Oilseeds - **Daily Data**: It includes import cost data for soybeans, rapeseeds, and palm oil from different origins and shipping dates [15][16]. - **Weekly Data**: It shows inventory and operating rate data for various oilseeds and oils, such as soybeans, rapeseeds, and their related products [17]. 3.2.2 Feed - **Daily Data**: It provides import cost data for corn from Argentina and Brazil [17]. - **Weekly Data**: It includes data on corn consumption, inventory, and starch enterprise operating rate and inventory [18]. 3.2.3 Livestock Farming - **Daily Data**: It shows the daily price changes of hogs and eggs in different regions [19][20]. - **Weekly Data**: It provides key weekly data on hogs and eggs, including price, cost, profit, and production - related data [21][23]. 3.3 Third Part: Fundamental Tracking Charts - **Livestock Farming (Hogs and Eggs)**: It includes charts of futures and spot prices, and other related data of hogs and eggs [25][28]. - **Oils and Oilseeds**: It includes charts of production, inventory, import, and price spread data for palm oil, soybean oil, and peanuts [33][44][53]. - **Feed**: It includes charts of price, inventory, consumption, and profit data for corn, corn starch, rapeseed, and soybean meal [59][66][77]. 3.4 Fourth Part: Options Situation of Feed, Livestock Farming, and Oils It includes charts of historical volatility, trading volume, and open interest of options for various varieties [92]. 3.5 Fifth Part: Warehouse Receipt Situation of Feed, Livestock Farming, and Oils It includes charts of warehouse receipt quantities for various varieties [95].