美国农业部：截至5月8日当周，美国2024/2025年度豆油出口净销售为1.4万吨，前一周为1.5万吨； 2025/2026年度豆油净销售0万吨，前一周为0.1万吨；美国2024/2025年度豆油出口装船5.1万吨，前一周 为3.5万吨。 USDA干旱监测报告：截至5月13日当周，约17%的美国大豆种植区域受到干旱影响，而此前一周为 15%，去年同期为9%。 瑞达期货（002961）： 消息面 4月国内油厂开机率偏低，压榨产能较少，豆油供应趋紧，基差较为坚挺，不过随着大豆大量到港，港 口大豆库存回归正常水平，全国油厂开机率逐步提高，且二季度大豆供应充足，油厂开机率预计高位运 行，产能持续，豆油库存趋于回升。同时南美大豆持续供应市场，季节性供应压力令大豆行情承压运 行；短期菜油依然供大于求格局，制约菜油价格；棕榈油产量恢复，库存状态或持续改善，棕榈油价格 偏弱运行。因此，豆油预计震荡偏弱运行为主。 截至5月14日，国内一级豆油现货价格8215元/吨，较5月12日提高79元/吨，涨幅0.97%；较5月13日提高 66元/吨，涨幅0.81%。 机构观点 国投安信期货： 美豆油出现大幅下跌，回吐了之前的涨幅，因为RV ...

【原油】 隔夜国际油价回落,布伦特07合约跌1.87%。哈梅内伊及特朗普关于美伊接近达成核协议的表态令 市场对伊朗石油制裁解除、供应风险弱化增加预期,但伊朗高级官员关于尚未收到关于解决核争端 未决分歧的美国最新提议又令这一预期有所修复,油价部分收复跌幅。考虑到OPEC+已进入快速增 产周期,美伊核谈判、俄乌和谈总体处于她缘缓和趋势,相关供应制裁风险趋于弱化,关税降级带 动的油价反弹空间不过分乐观,油价阶段性修复完成后将再度承压。 【贵金属】 隔夜贵金属先抑后扬波动剧烈。美国公布零售销售月率0.1%略超预期但低于前值,周度初请失业金 人数22.9万人基本持平预期和前值,PP1录得2.4%与CP1超同表现大幅降温。美联储主席鲍威尔讲话 称正在调整其总体政策制定框架,引起市场对于未来走向宽松的猜想。近期市场降低对于美国经济 滚退的抑注,降息路径仍将博弈,国际金价处于调整中,3000美元/盎司位置具备较强支撑,维持 回调买入思路。 gtaxinstitute@essence.com.cn 【铜】 隔夜伦铜收回亚洲盘跌幅,沪铜加权反弹回近7.8万。美国森信销售、PPI数据皆弱于预期，海外投 行对铜持谨慎态度。2505最 ...

Core Insights - The article discusses the transformation of Shaoxing Binhai New Area into a hub for agricultural modernization through effective investment and leveraging its geographical advantages, contributing to rural revitalization and economic growth [1][2][3]. Investment and Economic Growth - In 2024, the Binhai New Area achieved significant agricultural project investments totaling 903 million yuan, with an investment completion rate of 237%, and agricultural output surpassing 2.6 billion yuan, leading to a 10.4% increase in per capita income for low-income farmers [1]. - The Long Triangle International Agricultural Wholesale Center, with a total investment of 2.16 billion yuan, aims to become a key logistics hub for agricultural products in the Yangtze River Delta, with expected annual transactions exceeding 10 billion yuan [2]. - The Binhai New Area has seen the emergence of various major projects, including a 2 billion yuan investment in a biopharmaceutical production line and a project converting 180,000 tons of straw into organic substrates [2][3]. Technological Advancements - Digital technologies are reshaping agriculture in the Binhai New Area, with automated systems improving seedling survival rates from 80% to 95%, resulting in an average income increase of 15% for farmers [4]. - The use of data-driven approaches in farming has led to a 30% increase in efficiency in the production of yellow wine, showcasing the shift from traditional methods to smart agriculture [2][5]. Policy and Market Collaboration - The government is fostering a collaborative environment between public and private sectors, providing subsidies for storage, preservation, and processing projects, which has attracted significant social capital [3]. - A 10 billion yuan new momentum fund and land allocation strategies are being implemented to support agricultural projects and enhance local economic development [3]. Cultural and Community Integration - The Binhai New Area is integrating cultural heritage with modern agricultural practices, creating tourism opportunities that have significantly increased local income [6]. - Initiatives like "common prosperity workshops" are helping to create jobs and boost collective economic growth in rural areas, demonstrating a holistic approach to rural revitalization [6][7]. Future Goals - The Binhai New Area aims to establish a 10 billion yuan vegetable processing industry chain and create a national modern agricultural industrial park, focusing on cultivating over a thousand new farmers [7].

投资咨询业务资格:证监许可【2012】31号 08/25 07/26 1000 86 日照 -28 500 43%豆粕现货基差 张家港 186 -28 -500 (对主力合约) 12/23 01/23 02/23 03/25 04/25 05/26 06/26 07/27 09/21 10/22 11/22 08/27 N9-N1 东莞 166 -28 ------ 2019/20 ----- 2020/21 ---- 2021/22 -- 2022/23 1000 湛江 186 -28 800 600 防城 246 12 400 200 广东 菜粕现货基差 -12 -149 -200 M9-1 M9-RM9 -54 -3 - 18/19 ===== 19/20 ===== 20/21 ==== 21/22 ===== 22/23 ===== 22/23 = RM9-1 1200 197 5 1000 价差数据 800 豆粕-菜粕 720 -10 现货价差(广东) 600 豆粕-菜粕 200 405 6 盘面价差(主力) 02/18 01/19 03/19 04/18 升贴水-连续月 产地 美元兑人民币汇率 ...

大宗商品研究所 农产品研发报告 玉米淀粉日报 2025 年 5 月 15 日 玉米淀粉日报 第一部分 数据 | 玉米&玉米淀粉数据日报 | | | | | | | | 2025/5/15 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 期货盘面 | | | | | | | | | | 期货 | | 收盘价 | 涨跌 | 涨跌幅 | 成交量 | 增减幅 | 持仓量 | 增减幅 | | C2601 | | 2239 | -16 | -0.71% | 15,361 | 3.54% | 57,649 | 0.81% | | C2505 | | 2311 | 0 | 0.00% | 20 | -96.02% | 2,916 | -0.65% | | C2509 | | 2357 | -10 | -0.42% | 90,837 | -6.42% | 434,416 | 0.54% | | CS2601 | | 2663 | -12 | -0.45% | 916 | -13.50% | 4,429 | 6.08% | | CS2505 | | 2667 ...

期货热点追踪 为增加对生物柴油基金的资金支持，印尼提高毛棕榈油出口专项税，B50生物柴油政策要来了？ 相关链接 ...

Core Insights - The article highlights the financial support provided by the People's Bank of China to promote rural revitalization in Anhua County, Hunan Province, focusing on agricultural production and innovation [1][2][3] Group 1: Financial Support and Loan Statistics - As of February 2025, the agricultural loan balance in Anhua County reached 21.22 billion yuan, accounting for 57.14% of total loans, which is 20.33 percentage points higher than the city average [1] - The re-loan balance in Anhua County was 1.72 billion yuan, with over 3 billion yuan disbursed since 2024, benefiting nearly 7,000 agricultural and small enterprises [2] - A total of 20.83 billion yuan in loans was issued to key rural revitalization enterprises, with a financing demand satisfaction rate of 89.46% [3] Group 2: Interest Rate Reductions and Loan Accessibility - Interest rates on newly issued agricultural loans have decreased by 57 to 110 basis points, potentially saving agricultural entities 7 million yuan in interest costs [3] - The average interest rate for a loan provided to a tea company was reduced by 1.4 percentage points, saving over 200,000 yuan in interest costs annually [2] Group 3: Innovative Financial Products - Agricultural Bank of China introduced a credit-based "Black Tea Loan," disbursing 500 million yuan to nearly 3,000 farmers and 20 enterprises [5] - Industrial and Commercial Bank of China launched a "Yellow Essence Planting e-loan" to support the establishment of a yellow essence seedling base, providing 3.7 million yuan in loans [5] - Anhua Rural Commercial Bank offers credit support to local small enterprises based on cash flow data, allowing for loan approvals in as little as 30 minutes [5] Group 4: Collaborative Mechanisms and Policy Support - The People's Bank of China has facilitated cooperation between banks, local government, and agricultural entities, resulting in 1.68 billion yuan in loans signed at business meetings [7] - A total of 90 million yuan has been allocated to support the yellow essence industry over three years, with annual subsidies for loan interest and guarantee fees [7] Group 5: Enhancing Rural Financial Services - The establishment of credit towns and villages has improved the rural financial environment, with 271 credit villages created, benefiting over 30 million yuan annually [8] - The implementation of a "credit + guarantee" mechanism has provided 1.28 billion yuan in financing guarantee funds to high-credit enterprises [8] - The county has achieved full coverage of cash withdrawal points in 370 administrative villages and 63 communities, enhancing access to financial services [8]

Archer Daniels Midland Company (ADM) 2025 Conference Summary Company Overview - **Company**: Archer Daniels Midland Company (ADM) - **Date**: May 14, 2025 - **Key Speakers**: Manish Padalawala (CFO), Chris Cuddy (President of Carb Solutions and North America) Core Industry Insights - **Commodity Cycle Management**: ADM is focused on managing through the commodity cycle, simplifying its business, and pursuing strategic growth opportunities to enhance earnings potential over time [1][2] - **Cost Optimization**: The company aims to achieve cost efficiencies of $500 million to $750 million over the next three to five years, with $200 million to $300 million targeted for the current year [10][34] - **Growth Opportunities**: ADM sees significant growth potential in biosolutions, carbon capture, and emerging markets, alongside its nutrition business [11][30] Financial Performance and Projections - **Earnings Guidance**: ADM reaffirmed its earnings guidance at $4.00 to $4.75 per share, with expectations for improved crush margins in the second half of the year [21][22] - **Operational Challenges**: The company has faced operational challenges, including unplanned downtimes, but is working to improve efficiency and reliability in its plants [35][39] Regulatory and Market Factors - **RVO Impact**: ADM has lobbied for Renewable Volume Obligations (RVOs) of 15 billion gallons for ethanol and 5.25 billion gallons for biomass biodiesel, emphasizing the importance of certainty in regulations for capital investments [14][15] - **Market Demand**: The company is cautious about demand softness in certain segments, particularly in the carbohydrate solutions and nutrition businesses, but remains optimistic about long-term growth [41][49] Strategic Initiatives - **Digital Transformation**: ADM is investing in digital capabilities to enhance operational efficiency and data analytics, which are expected to drive better decision-making and performance [11][71] - **Capital Allocation**: The company is focused on maintaining a strong balance sheet while investing in organic growth and returning capital to shareholders through dividends and share buybacks [67][72] Additional Insights - **Sustainability Focus**: ADM is committed to sustainability initiatives, including carbon capture and renewable products, which are seen as key growth areas [30][31] - **Portfolio Management**: The company is actively evaluating its portfolio for simplification and potential divestitures, with a focus on areas where it has a competitive advantage [65][73] Conclusion - **Long-term Outlook**: ADM is positioned for long-term value creation through operational excellence, strategic growth initiatives, and a strong balance sheet, despite facing short-term challenges in the market [12][73]

油脂油料早报 研究中心农产品团队 2025/05/14 隔 夜 市 场 信 息 ： SPPOMA：马来西亚5月1-10日棕榈油产量环比增长22.31% 南部半岛棕榈油压榨商协会（SPPOMA）发布的数据显示，2025年5月1-10日，马来西亚棕榈油产量环比增长 22.31%，鲜果串单产增长20.20%，出油率增长0.40%。 MPOB报告：马来西亚4月底棕榈油库存环比增加19.4% 马来西亚棕榈油总署（MPOB）公布月报显示，马来西亚4月底棕榈油库存较前月增加19.37%，至187万吨。 MPOB数据显示，马来西亚4月毛棕油产量为169万吨，较前月增加21.52%。 马来西亚3月棕榈油出口量为110万吨，较前月增加9.62%。 此前的一份调査显示，预计马来西亚3月棕榈油库存为179万吨，产量料为162万吨，出口量料为110万吨。 USDA油籽报告：全球2025/26年度棕榈油产量预估为8043.6万吨 美国农业部公布的5月油籽报告显示，全球2025/26年度棕榈油产量预计为8043.6万吨，较上年度产量预估上调 219.1万吨。 全球2025/26年度棕榈油期末库存预计为1446.3万吨，较上年期未库存度预估 ...

豆油：美国生柴炒作密集，短期易涨难跌 | | | 2025 年 5 月 14 日 商 品 研 究 棕榈油：压力阶段性释放，下方或有支撑 【基本面跟踪】 油脂基本面数据 | | 棕榈油主力 | 单 位 元/吨 | 收盘价 (日盘） 7,954 | 涨跌幅 -0.87% | 收盘价 （夜盘） 8,036 | 涨跌幅 1.03% | | --- | --- | --- | --- | --- | --- | --- | | | 豆油主力 | 元/吨 | 7,792 | -0.28% | 7,828 | 0.46% | | | 菜油主力 | 元/吨 | 9,374 | -0.04% | 9,400 | 0.28% | | 期 货 | 马棕主力 | 林吉特/吨 | 3,893 | 2.04% | 3,929 | 0.92% | | | CBOT豆油主力 | 美分/磅 | 51.65 | 3.47% | | | | | | 单 位 | 昨日成交 | 成交变动 | 昨日持仓 | 持仓变动 | | | 棕榈油主力 | 手 | 697,530 | 23,508 | 409,349 | 5,249 | | | 豆油主力 | 手 ...