研究员：洪辰亮 021-60635572 hongchenliang@ccb.ccbfutures.com 期货从业资格号：F3076808 研究员：刘悠然 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 农产品研究团队 行业 油脂 日期 2026 年 3 月 2 日 研究员：余兰兰 021-60635732 yulanlan@ccb.ccbfutures.com 期货从业资格号：F0301101 研究员：林贞磊 021-60635740 linzhenlei@ccb.ccbfutures.com 期货从业资格号：F3055047 研究员：王海峰 021-60635727 wanghaifeng@ccb.ccbfutures.com 期货从业资格号：F0230741 请阅读正文后的声明 ＃summary＃ 每日报告 数据来源：Wind，建信期货研究发展部 华南菜油：6-9 月三菜 09+250、一菜 09+450。华东市场豆油基差价格：一豆： 现货：Y05+350；远月价格：05+350（3 月）；05+230（5-7）；09+260（6 ...

1. Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2. Core Views of the Report - The overall market of feed, breeding, and oils and fats shows different trends. The prices of some varieties are affected by factors such as supply - demand, international policies, and raw material prices. For example, the expected increase in biodiesel demand has a positive impact on the prices of soybean - related products, while the supply pressure and overseas tariff games have an impact on the prices of rapeseed - related products [1][3]. - The prices of different varieties have different trends and investment suggestions. For instance, soybean oil is expected to rise, and long positions in the main contract can be considered to be held; palm oil is expected to continue the bottom - building trend, and investors can consider buying at low prices; the price of soybean meal is expected to be strong in the short - term, and light long positions can be considered [1][2][3]. 3. Summary According to the Directory 3.1 First Part: Plate Strategy Recommendation 3.1.1 Market Judgment - **Oilseeds**: For the 05 contract of soybean No.1, due to the relatively concentrated domestic soybean sources and the downstream replenishment demand, the price is expected to be strong. For the 05 contract of soybean No.2, it is recommended to try long positions lightly. The expected improvement of the US biodiesel policy drives the strength of domestic soybeans [9]. - **Oils**: The 05 contract of soybean oil is expected to rise, and long positions can be held. The 05 contract of rapeseed oil is recommended to be short - term long positions cautiously. The 05 contract of palm oil is expected to build the bottom, and investors can pay attention to the opportunity of buying at low prices [9]. - **Protein**: The 05 contract of soybean meal is expected to rise, and light long positions can be tried. The 05 contract of rapeseed meal is expected to run in a range, and it is recommended to wait and see or conduct range operations [9]. - **Energy and By - products**: The 05 contracts of corn and corn starch are expected to fluctuate in a range, and investors can wait for the opportunity to buy on dips [9]. - **Breeding**: The 05 contract of live pigs is expected to find the bottom, and light long positions can be tried. The 05 contract of eggs is expected to find the bottom, and it is recommended to wait and see [9]. 3.1.2 Commodity Arbitrage - **Inter - month Spread**: For most varieties, the current recommendation is to wait and see. For the 5 - 9 spread of corn, it is recommended to short at high prices [10][11]. - **Inter - commodity Spread**: For most inter - commodity spreads, it is recommended to wait and see. For the oil - meal ratio of soybeans and rapeseed in the 05 contract, it is recommended to take a long position [11]. 3.1.3 Basis and Spot - Futures Strategy The report provides the spot prices, price changes, and basis changes of various varieties, which can be used as a reference for spot - futures operations [12]. 3.2 Second Part: Key Data Tracking Table 3.2.1 Oils and Oilseeds - **Daily Data**: It includes the import cost data of soybeans, rapeseeds, and palm oil from different origins and different shipping dates, such as the arrival premium, CBOT futures prices, CNF prices, and import duty - paid prices [14][15]. - **Weekly Data**: It shows the inventory and operating rates of various oils and oilseeds, such as the inventory of soybeans, soybean meal, rapeseed, rapeseed meal, rapeseed oil, palm oil, peanuts, and peanut oil, as well as the operating rates of soybean and rapeseed oil mills [16][17]. 3.2.2 Feed - **Daily Data**: It provides the import cost data of corn from different countries and different months, including CNF prices and import duty - paid costs [17]. - **Weekly Data**: It shows the consumption, inventory, operating rate, and inventory of corn and corn starch in deep - processing enterprises, as well as the grain - selling progress of farmers [18]. 3.2.3 Breeding - **Live Pigs**: It provides the daily and weekly data of live pigs, including spot prices, prices of binary sows, piglets, and fattening pigs, breeding costs and profits, slaughter data, etc. [18][20]. - **Eggs**: It provides the daily and weekly data of eggs, including spot prices, production rate, egg size ratio, culled chicken age and quantity, market sales, inventory, breeding profits, and related spot prices [20][21]. 3.3 Third Part: Fundamental Tracking Charts - **Breeding End (Live Pigs, Eggs)**: It includes the closing prices of live pig and egg futures contracts, spot prices, piglet prices, white - striped pork prices, chicken苗 prices, and culled chicken prices [23][25][26]. - **Oils and Oilseeds**: - **Palm Oil**: It shows the monthly production, export volume, ending inventory, import profit, import volume, domestic inventory, daily trading volume, and basis of Malaysian palm oil [33][35][36]. - **Soybean Oil**: It includes the US soybean crushing volume, US soybean oil inventory, soybean crushing profit, domestic soybean oil mill operating rate, domestic soybean oil inventory, daily trading volume, and basis of soybean oil [40][42][43]. - **Peanuts**: It shows the arrival and shipment volume of peanuts in domestic wholesale markets, peanut crushing profit, oil mill raw material procurement volume, peanut operating rate, peanut and peanut oil inventory, and peanut basis [45][47]. - **Feed End**: - **Corn**: It includes the closing price, spot price, basis, inter - month spread, port inventory, grain - selling progress, import volume, consumption, and processing profit of corn [49][56][59]. - **Corn Starch**: It shows the closing price, spot price, basis, operating rate, inventory, and profit of corn starch [62][64][68]. - **Rapeseed**: It includes the spot price, basis, inventory, and crushing profit of rapeseed meal and rapeseed oil [70][74][77]. - **Soybean Meal**: It shows the US soybean growth rate, inventory, basis, inter - month spread, and oil - meal ratio of soybean meal [82][86][93]. 3.4 Fourth Part: Options Situation of Feed, Breeding, and Oils and Fats It shows the historical volatility of rapeseed meal, rapeseed oil, soybean oil, palm oil, and peanuts, as well as the trading volume, open interest, and put - call ratio of corn options [97][98][99]. 3.5 Fifth Part: Warehouse Receipt Situation of Feed, Breeding, and Oils and Fats It shows the warehouse receipt quantities of rapeseed meal, rapeseed oil, soybean oil, palm oil, peanuts, corn, corn starch, live pigs, and eggs, as well as the open interest of live pig and egg indexes [102][103][104].