Soybeans are trading with weaker action on Thursday, as contracts are down 1 to 2 cents. Futures saw late session buying, with contracts closing 10 to 12 cents higher. Wednesday’s preliminary open interest rose 8,252 contracts. The cmdtyView national average Cash Bean price was 10 cents higher at $9.35. Soymeal futures were down $1 in the nearby October contracts, as other contracts were steady to 80 cents higher. Soy Oil futures were 73 to 93 points higher. Futures shrugged off early session pressure as ...

报告行业投资评级 未提及 报告的核心观点 饲料行业预期009合约豆粕表现偏震荡，四季度豆粕存在进口成本抬升预期，11月和1月合约建议关注逢低做多机会，需关注6月底USDA种植面积报告结果 [8] 根据相关目录分别进行总结 基差数据 - 6月30日，大连豆粕主力合约基差为 -11，涨跌15；天津为 -41，涨跌25；日照为 -81，涨跌25；张家港43%豆粕现货基差（对主力合约）为 -121，涨跌5；东莞为 -111，涨跌35；湛江为 -111，涨跌 -15；防城为 -111，涨跌5；广东菜粕现货基差为 -2，涨跌27；M9 - 1为 -38 [6] 价差数据 - 6月30日，豆粕 - 菜粕现货价差（广东）为389，涨跌2；盘面价差（主力）为280，涨跌10；RM9 - 1为271 [7] 升贴水及汇率数据 - 美元兑人民币汇率为7.1656，大豆CNF升贴水107.00美分/蒲，盘面榨利232元/吨，涨跌2 [7] 库存数据 - 截至上周五，国内大豆和豆粕继续累库，大豆库存居于历史同期高位，豆粕库存居于历史同期低位，饲料企业豆粕库存天数继续上升 [7][8] 开机和压榨情况 - 国内6、7、8月巴西大豆到港量预计均在千万吨以上，新作美豆供需平衡表趋紧，美豆优良率下滑至66%低于去年同期，未来两周美豆天气良好利于生长；从存栏推断，生猪供应在11月前预期稳步增加，禽类存栏维持高位，豆粕性价比高饲用添比提升，提货居于高位，部分地区小麦替代玉米减少对蛋白用量 [7] 总结 - 随着国内豆粕下游库存逐步建立，在油厂高开机压榨预期下，后续国内豆粕累库速度或加快 [8]