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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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美豆价格区间震荡
【现货市场】豆粕报价:天津4300,+10;山东日照4240,+20;江苏连云港4340,+40;广东东莞4280,+0。
【行业数据】截止5月5日当周,美豆出口47.17万吨,环比-9.2万吨,-16.31%,累计出口4776.35万吨,同比-856.53万吨,-15.21%,上周-15.65%;美豆出口中国14.75万吨,环比-3.05万吨,-17.14%,累计出口中国2789.33万吨,同比-707.94万吨,-20.24%,上周-20.6%。
截止5月15日当周,美豆种植进度30%,上周12%,五年均值39%,去年同期58%;出芽率9%,上周3%,五年均值12%,去年同期19%。
截止5月15日当月,巴西出口大豆492.48万吨,+492.48;自2月起年度累计出口3508.11万吨,同比-749.15万吨,-17.6%,上周-10.7%。
据巴西农业部下属的国家商品供应公司CONAB,截止5月14日当周,巴西大豆收割率为96.8%,上周为94.9%,去年同期为98.5%。
【操作策略】俄乌局势和能源走势多变,美豆播种进度较慢,美豆新季产量库存均调增,南美销售增长缓慢,美豆价格区间震荡,国内大豆库存有所恢复,豆粕库存连续回升,豆粕期价窄幅震荡,M2209、RM2209可日内交易为主。
来源:倍特期货;作者:程杰;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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多空交织,油脂高位震荡
【行业信息及动态】SGS数据,5月1—15日马棕油出口61.36万吨,较上月同期的49.51万吨增加23.9%。USDA数据,美豆种植率为30%,前一周为12%,去年同期为58%,五年均值为39%,分析师平均预估为29%。USDA数据,2022/23年度大豆产量46.4亿蒲,出口预估22亿蒲,压榨22.55亿蒲,结转库存3.1亿蒲。
现货方面,根据wind,张家港四级豆油报11820元/吨(-80元/吨);黄埔24度棕榈油报15280元/吨(-200元/吨);江苏进口菜籽压榨四级菜油报14000元/吨(+0元/吨)。
【观点与操作策略】马棕油前15日出口数据同比增加23.9%;市场预期印尼将解除出口禁令,市场可流通棕油或增加;美豆种植进度高于预期,旧作压榨数据低于预期,消息面多空交织,油脂高位震荡。国内方面,油脂库存略增,豆油88.96万吨(-1.14万吨)、棕油25.89万吨(-0.65万吨)、华东菜油19.75万吨(-0.08万吨)。建议P2209、y2209、OI209日内短线交易。
来源:倍特期货;作者:刘思兰;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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考察人员预测堪萨斯州北部的小麦单产低于历史均值
外媒5月18日消息:美国小麦质量委员会本周组织进行对堪萨斯州小麦作物的三天实地考察。在周二的首日考察结束后,考察人员预测堪萨斯州北部硬红冬小麦平均单产为每英亩39.5蒲,低于2021年的59.2蒲/英亩,因为受到干旱影响。
作为对比,过去五年里同一地区的考察单产均值为每英亩46.9蒲。(受疫情影响,2020年没有组织实地考察)。
堪萨斯是美国头号冬小麦产区,作物状况一直受到密切关注。今年全球小麦供应紧张,特别是乌克兰出口中断,印度近期禁止出口,加剧供应担忧。
周二考察人员对堪萨斯州的248块麦田进行抽样。大部分小麦作物比正常矮小,在最干旱的田地里,小麦长的稀稀落落。堪萨斯州立大学的农艺专家简·法尔科·琼斯表示,这些小麦似乎没有赶上降雨。周二晚上堪萨斯州中部地区下了雨,可能有助于保持单产潜力。不过琼斯说,这时候下雨只能维护作物,不会提高单产潜力。
现在的任何降雨对于堪萨斯州与俄克拉荷马州交界处的小麦来说都可能太晚了。考察团周三将考察堪萨斯州南部的麦田,包括该州西南部的一些最干燥的地区。考察团将于周四发布堪萨斯州最终单产预测。
科罗拉多州小麦协会的布拉德·艾克尔周二预计,2022年科罗拉多州小麦产量为4010万蒲,单产为每英亩28.6蒲,这要远远低于美国农业部5月12日预估的科罗拉多州小麦产量4960万蒲。
内布拉斯加州小麦协会成员肯特·洛伦斯估计今年内布拉斯加小麦产量为3690万蒲,与美国农业部上周的预测一致。
来源:博易大师;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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