【弘业期货】USDA月度供需数据跟踪-251117（5页）.pdf

1、USDAUSDA月度供需月度供需数据跟踪数据跟踪20252025年年1111月月弘业期货农产品事业部弘业期货农产品事业部期初期初产量产量进口进口消费消费出口出口期末期末74.49120.0844.01118.884475.93环比环比0.432.40.30.050.32.79同比同比1.080.80.98-0.161.571.4434.8433.55.438.50.0835.17环比环比010.2001.2同比同比-1.8751.50.214-0.50.0140.325414.120.011.712.24.3环比环比00.9000.20.7同比同比0.85-0.2980.002-0.0370.

2、30.310.02242.8251.310.52环比环比0.0500000.05同比同比0.7160-0.2410-0.0250.5美美国国印印度度USDA棉花供需数据跟踪USDA棉花供需数据跟踪单位：（百万包）单位：（百万包）全全球球中中国国期初期初产量产量进口进口压榨压榨消费消费出口出口期末期末123.34421.75186.41364.98421.54187.97121.99环比环比-0.19%-0.97%0.11%-0.45%-0.55%0.10%-1.61%同比同比7.14%-1.26%4.06%2.01%2.06%1.59%-1.09%8.614115.7510.54469.536

3、72.52744.4977.885环比环比-4.12%-1.11%0.00%0.00%-0.01%-2.97%-3.43%同比同比-7.57%-2.77%-25.99%4.50%4.42%-12.80%-8.46%44.488211121081330.144.388环比环比2.32%0.00%0.00%0.00%0.00%0.00%2.33%同比同比2.72%1.69%3.70%4.35%4.40%38.89%-0.22%36.8111750.355963.3112.536.361环比环比1.66%0.00%0.00%1.72%1.61%0.45%-2.42%同比同比23.85%2.04%-5

4、2.19%1.72%2.10%9.07%-1.22%23.10248.57.74148.28.2522.852环比环比-3.95%0.00%6.94%-3.30%-3.41%37.50%-4.19%同比同比-3.93%-5.10%21.76%-5.11%-4.57%4.86%-1.08%0.431110.023.13.37.70.451环比环比0.00%0.00%0.00%0.00%0.00%0.00%0.00%同比同比50.70%7.84%0.00%0.00%0.76%13.24%4.64%阿阿根根廷廷巴巴拉拉圭圭USDA大豆供需数据跟踪USDA大豆供需数据跟踪单位：（百万吨）单位：（百万吨

5、）全全球球美美国国中中国国巴巴西西大豆大豆数据数据偏多偏多，美美豆豆再次调减单产再次调减单产，总产量，总产量下调下调，期末期末库存下调库存下调。南美巴西及阿根廷产量未调整，全球期末南美巴西及阿根廷产量未调整，全球期末库存库存再再调调减。减。玉米数据中性偏空，美玉玉米数据中性偏空，美玉米米单产微降单产微降，总产量总产量微微降降，但但期末期末库存库存微微增增。南美巴西及阿根廷产量未调整，全球期末库存微调减南美巴西及阿根廷产量未调整，全球期末库存微调减。调减幅度偏小，供应压力不减。调减幅度偏小，供应压力不减。期初期初产量产量进口进口消费消费出口出口期末期末291.661286.23191.12129

6、6.54203.47281.34环比环比2.63%-0.03%-1.08%0.56%0.87%-0.02%同比同比-7.57%4.51%3.97%3.34%7.94%-3.54%38.905425.5250.635332.24778.10954.709环比环比15.60%-0.37%0.00%0.00%3.36%2.11%同比同比-13.14%12.49%25.00%6.22%8.66%40.62%191.92829583210.02173.908环比环比-0.60%0.00%-20.00%0.00%0.00%-1