| 1.57% | 硅铁 (SF603) | 5472 | 66.40% | 折算价:72硅铁合格块:内蒙-天津仓单 | ટર્ટક | 86 | 184 | 3.28% | 硅罐 (SM601) | 5790 | 5606 | 59.30% | 折算价:6517硅锰:内蒙-湖北仓单 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | HRB40020mm: 上海 | 螺纹钢 (RB2601) | 3220 | 163 | 5.33% | 66.60% | 3057 | 热卷 (HC2601) | 0.00% | 17.90% | 3270 | 3270 | 0 | Q235B: 4.75mm: 上海 | | | | | | 855 | 786 | ୧୦ | 8.79% | 54.20% | 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 | 铁矿石 (12601) | 21 | 1.27% | 1615 | 1 ...

| 指标 | | 11月21日 | 涨跌 | 升貼水 | 对主力基差 | | --- | --- | --- | --- | --- | --- | | | 锦州港平舱价 | 2220 | 0 | 0 | -21 | | | 鲅鱼圈港平舱价 | 2215 | 0 | 0 | -26 | | | 蛇口港市场价 | 2370 | 0 | | | | | 黑龙江省-哈尔滨 | 2030 | 0 | -195 | -16 | | | 黑龙江省-绥化 | 2020 | 0 | -195 | -26 | | | 吉林省-长春 | 2110 | 0 | -130 | -1 | | | 辽宁省-沈阳 | 2140 | 0 | -80 | -21 | | 玉米现货 | 辽宁省-铁岭 | 2130 | 0 | -80 | -31 | | | 内蒙古-通辽 | 2140 | 20 | -100 | -1 | | | 内蒙古-赤峰 | 2120 | 30 | -100 | -21 | | | 河北省-邯郸 | 2210 | 0 | - | - | | | 河北省-石家庄 | 2210 | 0 | | | | | 河南省-郑州 | 2 ...

| 田脂 | *业期现日报 | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 【2011】1292号 2025年11月24日 | | | | 王凌桂 | Z0019938 | | 臣湘 | | | | | | | | | 11月21日 | 11月20日 | 涨跌 | 涨跌幅 | | 现价 | 江苏一级 | 8470 | 8570 | -100 | -1.17% | | 期价 | Y2601 | 8190 | 8224 | -34 | -0.41% | | 星差 | Y2601 | 280 | 346 | -୧୧ | -19.08% | | 现货墓差报价 | 江苏1月 | 01+270 | 01+270 | 0 | - | | 仓单 | | 24625 | 24627 | -2 | -0.01% | | 棕榈油 | | | | | | | | | 11月21日 | 11月20日 | 涨跌 | 涨跌幅 | | 现价 | 广东24度 | 8470 | 8670 | -200 | -2.31% | | 期价 | P2601 | 8550 | ...

南华期货玉米&淀粉产业周报 戴鸿绪（投资咨询证号：Z0021819） 投资咨询业务资格：证监许可【2011】1290号 2025/11/23 第一章 核心矛盾及策略建议 1.1 核心矛盾 玉米供应处于存量消耗阶段，集中卖压高峰度过，卖压转向分散或阶段性表现，华北降水导致的供应结构问 题有所凸显，下游需求表现坚挺，供需结构继续向平衡甚至转移，价格延续上周上涨，在增产压力表现温 和，进口压力明显趋弱及需求稳定预期下，供需结构从长期看有偏紧预期； 周度东北产区表现稳中偏强，涨势趋弱，其他产区价格走高刺激黑黑吉产区"提价留粮 "，锦州港收购价格保 持强势走高，幅度不急强一周，库存有所增加，南港价格较为稳定，港口库存减少；华北黄淮产区价格表现 分化，山东地区受到现货上量低位及刚需支撑，下游企业仍有大范围提价收购动作，涨势属产区最强区域； 连盘玉米盘面主力连续三周收阳，周度持仓及成交变化不大，收盘于2195元/吨，周五夜盘停收于2201元，站 上2200元关口，注册仓单68764手 。 —— 现货区域表现分化 期货市场走高 整体来看，周度玉米市场延续中旬以来偏强运行特征，但涨势有所趋缓，在季节性上市压力下呈现转强表 现， ...

1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints of the Report - Corn futures closed higher in a volatile manner this week. The main 2601 contract closed at 2,195 yuan/ton, up 10 yuan/ton from last week. The USDA report is slightly bearish, and the domestic corn market has different situations in different regions. The short - term suggestion is to wait and see [8]. - Corn starch futures also closed higher in a narrow - range volatile manner. The main 2601 contract closed at 2,512 yuan/ton, up 7 yuan/ton from last week. With sufficient raw material supply, the industry's operating rate is rising, but the demand is good and the inventory is decreasing. The short - term suggestion is to wait and see [10]. 3. Summary According to the Directory 3.1. Weekly Highlights Summary 3.1.1. Corn - **Market Review**: The main 2601 contract of corn futures closed at 2,195 yuan/ton, up 10 yuan/ton from last week [8]. - **Market Outlook**: The USDA report shows that the US corn production is slightly bearish. In the domestic market, the purchase price in the Northeast is rising due to reduced supply, but the logistics is poor. In the North China and Huanghuai regions, farmers are reluctant to sell, and the price increase of deep - processing enterprises has slowed down. The short - term suggestion is to wait and see [8]. 3.1.2. Corn Starch - **Market Review**: The main 2601 contract of corn starch futures closed at 2,512 yuan/ton, up 7 yuan/ton from last week [10]. - **Market Outlook**: With the increase in new - season corn supply, the industry's operating rate is rising, but the demand is good and the inventory is decreasing. The short - term suggestion is to wait and see [10]. 3.2. Futures and Spot Market 3.2.1. Futures Price and Position Changes - The 1 - month contract of corn futures closed higher in a volatile manner, with a total position of 949,440 lots, an increase of 2,138 lots from last week. The 1 - month contract of corn starch futures also closed higher in a volatile manner, with a total position of 236,928 lots, a decrease of 1,007 lots from last week [16]. 3.2.2. Top Twenty Net Position Changes - The top twenty net position of corn futures was - 108,473 this week, compared with - 121,652 last week, with a slight decrease in net short positions. The top twenty net position of starch futures was - 43,094 this week, compared with - 53,346 last week, with a slight decrease in net short positions [22]. 3.2.3. Futures Warehouse Receipts - The registered warehouse receipts of yellow corn were 68,764 lots, and the registered warehouse receipts of corn starch were 11,710 lots [28]. 3.2.4. Spot Price and Basis - As of November 20, 2025, the average spot price of corn was 2,278.82 yuan/ton, and the basis between the active 1 - month contract of corn and the spot average price was + 83 yuan/ton. The spot price of corn starch in Jilin was 2,600 yuan/ton, and in Shandong was 2,800 yuan/ton, with a slight recovery this week. The basis between the 1 - month contract of corn starch and the spot price in Changchun, Jilin was 88 yuan/ton [33][37]. 3.2.5. Futures Inter - month Spread - The 1 - 3 spread of corn was + 0 yuan/ton, at a medium level in the same period. The 1 - 3 spread of starch was + 5 yuan/ton, also at a medium level in the same period [43]. 3.2.6. Futures Spread between Starch and Corn - The spread between the 1 - month contract of starch and corn was 317 yuan/ton. As of Thursday this week, the spread between Shandong corn and corn starch was 500 yuan/ton, a decrease of 24 yuan/ton compared with last week [52]. 3.2.7. Substitute Spread - As of November 20, 2025, the average spot price of wheat was 2,503.67 yuan/ton, and the average spot price of corn was 2,278.82 yuan/ton, with a wheat - corn spread of 224.85 yuan/ton. In the 46th week of 2025, the average spread between cassava starch and corn starch was 440 yuan/ton, an increase of 118 yuan/ton compared with last week [57]. 3.3. Industrial Chain Situation 3.3.1. Corn - **Supply Side** - **Inventory at Ports**: As of November 14, 2025, the domestic trade corn inventory in Guangdong Port was 27.3 tons, a decrease of 18.10 tons from last week; the foreign trade inventory was 35.5 tons, a decrease of 5.70 tons from last week. The corn inventory in the four northern ports was 117 tons, an increase of 9.9 tons week - on - week; the shipping volume of the four northern ports was 40 tons, a decrease of 18.20 tons week - on - week [47]. - **Selling Progress**: As of November 20, the total selling progress of domestic corn was 27%, an increase of 3% from last week and 2% year - on - year [59]. - **Monthly Import Volume**: In September 2025, China's corn import volume was 56,562.26 tons, a decrease of 256,532.84 tons (81.93%) year - on - year, and an increase of 20,404.55 tons month - on - month [63]. - **Feed Enterprise Inventory Days**: As of November 20, the average inventory of national feed enterprises was 26.23 days, an increase of 0.62 days from last week, a 2.42% week - on - week increase, and a 9.58% year - on - year decrease [67]. - **Demand Side** - **Livestock Inventory**: At the end of the third quarter, the national pig inventory was 436.8 million heads, an increase of 9.86 million heads (2.3%) year - on - year and 12.33 million heads (2.9%) quarter - on - quarter. The inventory of breeding sows was 40.35 million heads, a decrease of 280,000 heads (0.7%) year - on - year and 90,000 heads (0.2%) quarter - on - quarter [71]. - **Breeding Profit**: As of November 14, 2025, the breeding profit of self - breeding and self - raising pigs was - 114.81 yuan/head, and the breeding profit of purchased piglets was - 205.64 yuan/head [75]. - **Processing Profit**: As of November 20, 2025, the corn starch processing profit in Jilin was 28 yuan/ton. As of November 21, 2025, the corn alcohol processing profit in Henan was - 434 yuan/ton, in Jilin was - 549 yuan/ton, and in Heilongjiang was - 299 yuan/ton [80]. 3.3.2. Corn Starch - **Supply Side** - **Enterprise Inventory**: As of November 19, 2025, the total corn inventory of 96 major corn processing enterprises in 12 regions was 272.7 tons, a decrease of 0.29% [84]. - **Operating Rate and Inventory**: From November 13 to 19, 2025, the national corn processing volume was 61.24 tons, a decrease of 1.95 tons from last week; the national corn starch output was 31.5 tons, a decrease of 1.34 tons from last week; the weekly operating rate was 60.89%, a decrease of 2.59% from last week. As of November 19, the total starch inventory of national corn starch enterprises was 110.9 tons, a decrease of 2.40 tons from last week, a 2.12% weekly decrease, a 1.68% monthly decrease, and a 25.59% year - on - year increase [88]. 3.4. Option Market Analysis As of November 21, the implied volatility of the options corresponding to the main 2601 contract of corn was 8.42%, up 0.46% from last week's 7.96%. The implied volatility rebounded this week and was slightly lower than the 20 - day, 40 - day, and 60 - day historical volatilities [91].

Group 1: Report Industry Investment Rating - The investment rating for both the bean meal and corn sectors is cautiously bearish [3][6] Group 2: Core Viewpoints - For the bean meal market, the current domestic supply is still relatively abundant, with continuous soybean arrivals and increasing oil - mill inventories. Although the bean meal inventory decreased this week due to reduced crushing, it remains at a high level. The price was supported by the rise in US soybean prices and import costs last week. Future focus should be on soybean imports, South American soybean weather, and policy changes [2] - For the corn market, new corn from the Northeast and North China is concentrated on the market. The port and production - area prices are rising due to traders' price - increasing acquisitions. In North China, supply is tight and prices are rising due to farmers' wheat - planting and concerns about corn quality. Feed enterprises are hesitant to build inventories, while deep - processing enterprises are raising prices to purchase. The overall supply is slightly abundant, and attention should be paid to farmers' selling and traders' shipping [4][5] Group 3: Summary by Related Catalogs Bean Meal Market News and Important Data - Futures: The closing price of the bean meal 2601 contract was 3017 yuan/ton, down 5 yuan/ton (-0.17%) from the previous day; the rapeseed meal 2601 contract was 2412 yuan/ton, down 7 yuan/ton (-0.29%) [1] - Spot: Tianjin's bean meal spot price was 3040 yuan/ton, unchanged; Jiangsu's was 2970 yuan/ton, down 10 yuan/ton; Guangdong's was 2970 yuan/ton, unchanged; Fujian's rapeseed meal spot price was 2590 yuan/ton, down 10 yuan/ton [1] - Market Information: As of last Friday, the soybean sowing in Mato Grosso was 96.36% complete, up 10.68% from the previous week. Brazil's soybean exports in November are expected to reach 471 tons, up from the previous forecast of 426 tons [1] Market Analysis - The domestic supply is loose, with continuous soybean arrivals and high oil - mill inventories. The bean meal inventory is still high, and downstream feed enterprises mainly replenish inventories on a rolling basis. The price was supported by US soybean prices and import costs last week [2] Strategy - Cautiously bearish [3] Corn Market News and Important Data - Futures: The closing price of the corn 2601 contract was 2168 yuan/ton, down 7 yuan/ton (-0.32%); the corn starch 2511 contract was 2473 yuan/ton, down 7 yuan/ton (-0.28%) [3] - Spot: Liaoning's corn spot price was 2150 yuan/ton, unchanged; Jilin's corn starch spot price was 2550 yuan/ton, unchanged [3] - Market Information: Brazil's wheat exports in November 2025 are expected to reach 29 tons, a 202% increase from the same period last year. The estimated wheat exports from January to November are 177 tons, lower than the same period last year [3] Market Analysis - Supply: New corn from the Northeast and North China is on the market. The price is rising due to traders' acquisitions. In North China, supply is tight and prices are rising due to farmers' behavior [4] - Demand: Feed enterprises are hesitant to build inventories, while deep - processing enterprises are raising prices to purchase [5] Strategy - Cautiously bearish [6]

1. Report Industry Investment Rating - No information provided in the given content. 2. Core View of the Report - The report presents the price, basis, basis rate, historical quantile, and other data of various futures and spot commodities on November 21, 2025, including ferrous metals, non - ferrous metals, agricultural products, energy and chemical products, and financial futures [1]. 3. Summary According to Related Catalogs Ferrous Metals - **Silicon Iron (SF603)**: The conversion price of 72 - grade silicon iron qualified blocks from Inner Mongolia to Tianjin warehouse receipts is 5446, with a change of 2.06% [1]. - **Silicon Manganese (SM601)**: The conversion price of 6517 - grade silicon manganese from Inner Mongolia to Hubei warehouse receipts is 5614 [1]. - **Rebar (RB2601)**: The price of HRB400 20mm in Shanghai is 3050, and the futures price is 3210, with a basis rate of 5.25% [1]. - **Hot - Rolled Coil (HC2601)**: The futures price is 3270, with a change of 0.09% [1]. - **Iron Ore (I2601)**: The conversion price of 62.5% Brazilian mixed powder (BRBF) from Vale at Rizhao Port is 1634, with a change of 0.75% [1]. - **Coke (J2601)**: The conversion price of quasi - first - grade metallurgical coke at Rizhao Port is 1646, with a historical quantile of 70.18% [1]. - **Coking Coal (JM2601)**: The conversion price of S1.3 G75 main coking coal (Meng 5) at Shaheyi is 1114, with a change of 9.83% [1]. Non - Ferrous Metals - **Copper (CU2601)**: The SMM 1 copper average price is 86435, and the futures price is 86130, with a basis of 305 and a historical quantile of 79.79% [1]. - **Aluminum (AL2601)**: The SMM A00 aluminum average price is 21570, and the futures price is 21530, with a basis rate of 0.19% [1]. - **Alumina (AO2601)**: The SMM alumina index average price is 2836 [1]. - **Zinc (ZN2512)**: The SMM 1 zinc ingot average price is 22360, and the futures price is 22380, with a basis of - 20 [1]. - **Tin (SN2512)**: The SMM 1 tin average price is 291500, and the futures price is 292030, with a change of - 0.18% [1]. - **Nickel (NISE01)**: The SMM 1 imported nickel average price is 116600, and the futures price is 115380, with a basis of 1220 [1]. - **Stainless Steel (SS2601)**: The price of 304/2B: 2*1240*C: Wuxi Hongwang (including trimming fee) is 12820, and the futures price is 12285, with a change of 4.35% [1]. Agricultural Products - **Soybean Meal (M2601)**: The ex - factory price of common protein soybean meal in Zhangjiagang, Jiangsu is 2980, and the futures price is 3017, with a basis rate of - 1.23% [1]. - **Soybean Oil (Y2601)**: The ex - factory price of grade - four soybean oil in Zhangjiagang, Jiangsu is 8224, and the futures price is 8420, with a basis of 196 [1]. - **Palm Oil (P2601)**: The delivery price of palm oil at Huangpu Port is 8630, and the futures price is 8646, with a basis of - 16 [1]. - **Rapeseed Meal (RM601)**: The ex - factory price of common rapeseed meal in Zhanjiang, Guangdong is 2412, and the futures price is 2500, with a basis rate of - 0.19% [1]. - **Rapeseed Oil (Ol601)**: The ex - factory price of grade - four rapeseed oil in Nantong, Jiangsu is 9779, and the futures price is 10100, with a basis of 321 [1]. - **Corn (C2601)**: The flat - hatch price of corn at Jinzhou Port is 2220, and the futures price is 2168, with a basis rate of 3.28% [1]. - **Corn Starch (CS2601)**: The ex - factory price of corn starch in Changchun, Jilin is 2550, and the futures price is 2473, with a basis of 77 [1]. - **Live Pigs (LH2601)**: The ex - factory price of live pigs (external ternary) in Henan is 11750, and the futures price is 11440, with a basis of 310 [1]. - **Eggs (JD2601)**: The average price of eggs in Shijiazhuang, Hebei is 3238, and the futures price is 2710, with a basis rate of - 16.31% [1]. - **Cotton (CF601)**: The arrival price of cotton 3128B in Xinjiang is 14563, and the futures price is 13465, with a basis of 1098 [1]. - **Sugar (SR601)**: The spot price of white sugar at Liuzhou Station is 5760, and the futures price is 5366, with a basis of 394 [1]. - **Apples (AP601)**: The delivery theoretical price of apples is 9496, and the futures price is 8840, with a basis of - 656 [1]. - **Red Dates (C1601)**: The wholesale price of first - grade grey dates in Hebei is 9300, and the futures price is 8800, with a basis of - 500 [1]. Energy and Chemical Products - **Para - Xylene (PX601)**: The spot price of para - xylene at the main Chinese port (CFR) converted into RMB is 6830, and the futures price is 6833, with a basis rate of 0.04% [1]. - **PTA (TA601)**: The market price (intermediate price) of PTA in the East China region is 4630, and the futures price is 4696, with a basis of - 66 [1]. - **Ethylene Glycol (EG2601)**: The market price (intermediate price) of ethylene glycol in the East China region is 3935, and the futures price is 3822, with a basis of 113 [1]. - **Polyester Staple Fiber (PF602)**: The market price (mainstream price) of polyester staple fiber (1.4D*38mm (direct - spinning)) in the East China market is 6220, and the futures price is 6305, with a basis of 85 [1]. - **Styrene (EB2601)**: The market price (spot benchmark price) of styrene in East China, China is 6625, and the futures price is 6595, with a basis of 30 [1]. - **Methanol (MA601)**: The market price (spot benchmark price) of methanol in Taicang, Jiangsu, China is 2000, and the futures price is 2016, with a basis of - 16 [1]. - **Urea (UR601)**: The market price (mainstream price) of urea (small - particle) in Shandong region is 1640, and the futures price is 1665, with a basis of - 25 [1]. - **LLDPE (L2601)**: The duty - paid self - pick - up price (intermediate price) of LLDPE (film - grade) in Shandong is 6855, and the futures price is 6835, with a basis of 20 [1]. - **PP (PP2601)**: The duty - paid self - pick - up price (intermediate price) of PP (拉丝级, melt index 2 - 4) in Zhejiang is 6400, and the futures price is 6500, with a basis of 100 [1]. - **PVC (V2601)**: The market price (mainstream price) of PVC (SG - 5) in the Changzhou market, China is 4456, and the futures price is 4420, with a basis of - 36 [1]. - **Caustic Soda (SH601)**: The market price (mainstream price) of caustic soda (32% ion - membrane caustic soda) in Shandong market converted to 100% is 2437.5, and the futures price is 2261, with a basis of 176.5 [1]. - **LPG (PG2512)**: The market price of LPG in Guangzhou region is 4397, and the futures price is 4348, with a basis of - 49 [1]. - **Asphalt (BU2601)**: The market price (mainstream price) of asphalt (heavy - traffic asphalt) in Shandong region is 3030, and the futures price is 3058, with a basis of 28 [1]. - **Butadiene Rubber (BR2601)**: The distribution price of cis - butadiene rubber (Daqing, BR9000) of PetroChina East China is 10700, and the futures price is 10520, with a basis of 180 [1]. - **Glass (FG601)**: The market price of Fufa glass 5mm large board in Shahe, Shahe Great Wall Glass (daily) is 988, and the futures price is 989, with a basis of - 1 [1]. - **Soda Ash (SA601)**: The market price of heavy - grade soda ash in Shahe (daily) is 1158, and the futures price is 1128, with a basis of - 30 [1]. - **Natural Rubber (RU2601)**: The market price of natural rubber (Yunnan state - owned whole latex) in Shanghai is 15250, and the futures price is 14850, with a basis of 400 [1]. Financial Futures - **Stock Index Futures**: - IF2512.CFE: The futures price is 4564.9, and the basis is - 25.7, with a basis rate of - 0.57% [1]. - IH2512.CFE: The futures price is 3002.6, and the basis is - 5.7, with a basis rate of - 0.19% [1]. - IC2512.CFE: The futures price is 7061.9, and the basis is - 61.9, with a basis rate of - 0.88% [1]. - IM2512.CFE: The futures price is 7340.4, and the basis is - 76.8, with a basis rate of - 1.00% [1]. - **Treasury Bond Futures**: - TS2512: The futures price is 100.04, and the basis is - 0.01, with a basis rate of - 0.01% [1]. - TF2512: The futures price is 105.92, and the basis is 0.00, with a basis rate of 0.00% [1]. - T2512: The futures price is 108.48, and the basis is 0.08, with a basis rate of 0.08% [1]. - TL2512: The futures price is 115.93, and the basis is 0.16, with a basis rate of 0.14% [1].

白糖产业期现日报 テ 广发期货 投资咨询业务资格:证监许可 【2011】1292号 2025年11月21日 70016336 刘珂 | 期货市场情况 | | | | | | | --- | --- | --- | --- | --- | --- | | 指标 | 现值 | 前值 | 流跌 | 涨跌幅 | 单位 | | 白糖2601 | 5366 | 5381 | -15 | -0.28% | | | 白糖2605 | 5320 | 2338 | -18 | -0.34% | 元/吨 | | ICE原糖主力 | 14.68 | 14.66 | 0.02 | 0.14% | 美分傍 | | 白糖1-5价差 | 46 | 43 | ന | 6.98% | 元/吨 | | 主力合约持仓量 | 402945 | 388009 | 14936 | 3.85% | 글 | | 仓单数量 | 7982 | 8428 | -446 | -5.29% | કેસ્ | | 有效预报 | 183 | 183 | 0 | 0.00% | | | 现货市场价格 | | | | | | | 指标 | 现值 | 前值 | 涨跌 | 涨跌幅 ...

研究所 农产品研发报告 第二部分 行情研判 玉米： 美玉米回落，后期仍会下调单产，产量仍处于高位，美玉米窄幅震荡。美玉米配 额内关税为 11%，高粱为 12%，国外玉米进口利润下跌，12 月巴西进口价格 2137 元。 今日北方港口平仓价稳定，基本 2210 元附近，东北玉米产区现货稳定。华北上量减 1 / 5 锦州港平舱价 元 吨 研究员：刘大勇 玉米淀粉日报 2025 年 11 月 20 日 玉米淀粉日报 第一部分 数据 | 玉米&玉米淀粉数据日报 | | | | | | | | 2025/11/20 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 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 | | 2168 | -7 | -0.32% | 405,905 | -4.81% | 932,364 | -1.44% | | C2605 | | 2237 | -8 | -0.36% | 43,153 | -6.73% | 3 ...

农产品日报 | 2025-11-20 现货供应充足，豆粕偏弱震荡 粕类观点 市场要闻与重要数据 期货方面，昨日收盘豆粕2601合约3022元/吨，较前日变动-19元/吨，幅度-0.62%；菜粕2601合约2419元/吨，较前 日变动-12元/吨，幅度-0.49%。现货方面，天津地区豆粕现货价格3040元/吨，较前日变动-10元/吨，现货基差M01+18， 较前日变动+9；江苏地区豆粕现货2980元/吨，较前日变动-20元/吨，现货基差M01-42，较前日变动-1；广东地区 豆粕现货价格2970元/吨，较前日变动跌-20元/吨，现货基差M01-52，较前日变动-1。福建地区菜粕现货价格2600 元/吨，较前日变动-10元/吨，现货基差RM01+181，较前日变动+2。 近期市场资讯，美国农业部在每周作物生长报告中公布称，截至2025年11月16日当周，美国大豆收割率为95%，去 年同期为98%，五年均值为96%。11月18日，Abiove周二在一份报告中称，预计巴西2025/26年度大豆产量料为创纪 录的1.777亿吨，而之前的预估为1.785亿吨，高于上一年度的1.721亿吨；预计巴西2025/26年度大豆压 ...