20250613-中辉期货-双粕周报_缺乏持续性利多驱动_豆粕追多谨慎_22页_3mb

Summary: The report analyzes the soybean and rapeseed meal markets for the week ending June 13, 2025. It highlights a mixed market outlook with supply factors dominating for soybean meal due to ample production in key regions like Brazil and the U.S., but demand from feeders provides some support. Short-term strategies recommend an震荡 approach with cautious buying. For rapeseed meal, the Canadian market is strong with high exports, but trade uncertainties are key risks. Watch out for USDA reports, weather updates, and trade developments.

Soybean Meal:

• Supply is robust with favorable weather in the U.S. and Brazil, leading to ample inventories and potential downward pressure.
• Demand remains steady but is slowing; feeder restocking is lower than last year.
• External factors like US-China trade talks support prices, but overall fundamentals are weak; prices face resistance at 3030-3070 yuan.
• Recommended strategy: Short-term震荡, avoid aggressive buying; look for short opportunities on rebounds.

Rapeseed Meal:

• Canadian rapeseed market is strong with high export volumes and low import pressures due to restrictions.
• Trade negotiations pose significant risks; imports remain limited.
• Short-term operations should monitor export data and consider tactical positions based on potential adjustments or套利 opportunities.

Market Dynamics:

• Weather patterns are closely monitored, with climate forecasts indicating reduced drought risk in some areas.
• Inventory reports show increases in soybean ports and decreases in rapeseed stocks, emphasizing supply concerns.
• Price comparisons indicate near-term squeeze for soybean meal, while rapeseed markets reflect tight supply conditions.