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鸡蛋:现货持续偏强运行,带动期货逐步转强
基本面:5月18日,全国鸡蛋现货温和整理,全国均价5.04元/斤,较5月17日-0.02。现货继续稳定于5元关口。现货市场看:全国范围社会库存恢复正常。同时,因整体消费均低于去年同期。中间贸易环节囤货积极性减弱。注意5月气温升高后,鸡蛋存储条件亦提高,加快中间商出货速度。整体而言,现货蛋价目前处于淡旺季交替,持续震荡过程。
操作策略上:现货表现由鸡蛋供需周期转换所决定。当前需注意的是饲料原料端剧烈的价格波动以及疫情防控政策对鸡蛋流通及消费习惯的影响。整体而言,市场在疫情之中运行,蛋价维持震荡基调。但注意夏季将临,鸡蛋整体供需关系将再度转换。隔夜外盘市场表现偏弱。鸡蛋主力合约2209,连续两日均稳定在4770关键分水位上方,技术上转强。今日继续关注此位,投资者继续依托此位做顺向日内短线技术性交易。
来源:倍特期货;作者:魏宏杰/刘体峰;农产品集购网转载本文仅为传播更多信息为目的,并不表示本网认可文中作者观点。如因作品内容、版权、稿酬未付和其他任何问题需要同本网联系的,请在30日内进行,联系电话0512-65716709#8012。
2022-05-19
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5月19日早盘油脂观察
【外盘影响】
Cbot豆油主力价格下跌3.4%至80.6美分/磅;BMD毛棕油指数下跌1.4%至6049林吉特。
【重要资讯】
1.船运调查机构Societe Generale de Surveillance(SGS)公布的数据显示,马来西亚5月1-15日棕榈油产品出口量为613,646吨,较4月1-15日出口的495,096吨增加23.9%。
2.本年度印度菜籽压榨量在3-4月达到高峰,预计5月和未来几个月压榨量将继续高于去年同期。
3.自3月以来欧盟葵花籽进口量和压榨量高于市场预期。3月欧盟葵花籽进口量10万吨,为近15个月以来的最高水平。4月乌克兰出口10.5万吨葵花籽,多数出口至欧盟。预计5月及近几个月乌克兰至欧盟葵花籽出口量将继续保持高位。
4.海关总署:2022年4月,中国棕榈油进口量为12万吨,同比减少60%。1-4月累计进口38万吨,同比下滑70.8%。
【交易策略】
1、单边:印尼政府表示不会撤销棕榈油出口禁令,政策存较大不确定因素,短期看棕榈油仍难以深度回调。国内豆油基差继续维持高位,但下游贸易商明显谨慎追涨,成交减少,预计豆油基差继续大涨空间有限。菜油走势较弱,新季国产菜籽上市影响进口菜油的消费。油脂整体维持震荡走势,建议短线操作。
2、套利:关注y91在400左右入场反套的机会。
3、期权:可关注累沽期权策略,但政策不确定性较大,注意风险控制。(以上观点仅供参考,不作为入市基础)
来源:银河期货;作者:XXX;农产品集购网转载本文仅为传播更多信息为目的,并不表示本网认可文中作者观点。如因作品内容、版权、稿酬未付和其他任何问题需要同本网联系的,请在30日内进行,联系电话0512-65716709#8012。
2022-05-19
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2022年5月19日淀粉玉米早盘策略
【市场分析】:5月18日,国内玉米现货价涨跌互现,玉米隔夜主力C2209跌0.13%报3007,玉米基差走弱。外盘方面,美玉米偏弱运行。当前国内旧作余粮不足6%,市场有惜售情绪,贸易和农资成本高企以及玉米供应收紧等因素支撑玉米价格,市场看好玉米长期行情,但短期国内下游需求疲软限制玉米价格上浮空间。近期关注国内抛储政策、国际粮食保护政策和春耕情况对玉米行情的影响。玉米淀粉方面:国内玉米淀粉现货价稳中有涨,玉米淀粉隔夜主力CS2207涨0.36%报3334,玉米淀粉-玉米山东潍坊市场主流价差走高至460元/吨。当前玉米淀粉企业挺价心理较强,但市场购销平淡,玉米淀粉跟随原料玉米价格调整。
【投资策略】:玉米:关注价格回调时做多机会,C2209合约逢低买入,同时买入看跌期权对冲风险。玉米淀粉:CS2207合约暂且观望;或07合约逢高布空。关注空CS2209多C2207套利机会
来源:华安期货;作者:XXX;农产品集购网转载本文仅为传播更多信息为目的,并不表示本网认可文中作者观点。如因作品内容、版权、稿酬未付和其他任何问题需要同本网联系的,请在30日内进行,联系电话0512-65716709#8012。
2022-05-19
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印尼禁令延续,油脂高位运行
核心观点:印尼禁令延续,油脂高位运行
主要逻辑:
国际市场,印尼出口政策变动依旧是油脂面临的最大不确定性因素,该禁令已引起当地农户不满,举行抗议示威活动。但政府表示待散装油价格降至14000卢比/吨再考虑放宽,目前价格为17200。在其高库存、产量回升现状下,一旦放开,存在较大销售压力。
国内现货,油厂压榨开机进度放缓,豆油库存小幅回落至89万吨,目前看到,后期延续累库趋势,但远月大豆采购存在缺口,对豆油基差会有托底作用。棕榈油商业库存继续走低至26万吨,近期5月船期出现大量洗船,预计到港量在7万吨左右,短期国内库存欲维持低位。
盘面表现,今日油脂波动不大,继续偏弱运行,棕榈油收于20日均线之下,豆油徘徊在5日均线上。
策略建议:短期高位震荡,建议短线操作;印尼政策松动或引发情绪性回调。套利,关注豆棕价差进一步修复。
来源:中州期货公司;作者:XXX;农产品集购网转载本文仅为传播更多信息为目的,并不表示本网认可文中作者观点。如因作品内容、版权、稿酬未付和其他任何问题需要同本网联系的,请在30日内进行,联系电话0512-65716709#8012。
2022-05-19
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2022-5-19花生早盘观察
【重要资讯】
昨日国内花生市场平稳偏弱运行。通货价格上涨后带动成品米价格快速上涨,从近期市场表现来看,价格推动过快,整体接收能力有限。东北产区报价小幅回调,东北产区308通货米报价4.60-4.85元/斤,下调0.15元/斤,成交有所放缓。河南产区暂停上涨势头,白沙产区通货米报价4.50-4.60元/斤,大花生通货报价4.45元/斤,成交价格以质论价;山东产区报价通货米报价4.30-4.40元/斤。油厂到货量稳定,通货米成交价格在8200-8500元/吨,部分好货成交价格在8800元/吨,上涨100元/吨,其余工厂成交价格相对稳定。
花生油:原料强势推动了花生油的上涨,加上油脂盘面及其他油脂现货的高位运行,也对花生油产生利多影响。目前市场对花生油看多情绪较浓厚,但花生油终端需求较弱,限制了成交的兑现。油厂供应情况来看,花生油企业开机率高位,大厂积极压榨。目前国内压榨一级普通花生油均价16200元/吨;小榨浓香型花生油市场报价不一,主流报价区间为18500-19000元/吨。
【交易策略】
单边:今日花生盘面震荡偏弱。现货端收购意愿有所减低,市场较强的情绪得到缓解,但油厂的收购意愿依旧较好,短期没有大幅回调的基础,因此建议保持观望。
月差:因为10月合约可以交割旧花生,但01合约是新花生的定价,建议在-100左右做缩10-1月差。
期现策略:花生基差现为-1550左右,交割利润为1000左右,可以买入现货,卖出盘面锁定基差利润。(以上观点仅供参考,不作为入市依据)
来源:银河期货;作者:XXX;农产品集购网转载本文仅为传播更多信息为目的,并不表示本网认可文中作者观点。如因作品内容、版权、稿酬未付和其他任何问题需要同本网联系的,请在30日内进行,联系电话0512-65716709#8012。
2022-05-19
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