白糖产业期现日报 元 F / 发期货 投资咨询业务资格:证监许可 【2011】1292号 2025年12月10日 70016336 刘珂 | 期货市场情况 | | | | | | | --- | --- | --- | --- | --- | --- | | 指标 | 现值 | 前值 | 涨跌 | 涨跌幅 | 单位 | | 白糖2601 | 5343 | 5337 | 6 | 0.11% | | | 白糖2605 | 5247 | 5244 | 3 | 0.06% | 元/吨 | | ICE原糖主力 | 14.66 | 14.83 | -0.17 | -1.15% | 美分/磅 | | 白糖1-5价差 | 96 | ਰੇਤੇ | 3 | 3.23% | 元/吨 | | 主力合约持仓量 | 260465 | 289716 | -29251 | -10.10% | ਜੇ | | 仓单数量 | 181 | 181 | 0 | 0.00% | | | 有效预报 | 1705 | 1490 | 215 | 14.43% | इर | | 现货市场价格 | | | | | | | 指标 | 现值 | 前值 | 涨跌 | ...

股指期货持仓日度跟踪 投资咨询业务资格： 广发期货研究所 电 话：020-88818051 E-Mail：yeqianning@gf.com.cn 目录： 股指期货： IF、IH、IC、IM | 品种 | | 主力合 约 | 总持仓点评 | 前二十席位重要变动 | | --- | --- | --- | --- | --- | | 沪深 | 300 | IF2512 | 总持仓小幅下降 | 前二十席位多头增减仓不一 | | 上证 | 50 | IH2512 | 总持仓小幅下降 | 中信多空头各减仓千手左右 | | 中证 | 500 | IC2512 | 总持仓保持稳定 | 国君多头加仓逾千手 | | 中证 | 1000 | IM2512 | 总持仓小幅上升 | 海通多空头均加仓 2000 手左右 | 股指期货持仓日度变动简评 -7,233.0 -3,701.0 -2,550.0 -3,702.0 -3,493.0 -3,696.0 902.0 3,359.0 -8,000 -6,000 -4,000 -2,000 0 2,000 4,000 IF IH IC IM 主力合约持仓变动 总持仓变动 数据来源：Wi ...

欢迎关注微信公众号 | | | | 【每日精选观点】 | | | --- | --- | --- | --- | --- | | | 品种 锡 | 合约 SN2601 | 观点 震荡偏强 | | | | 本乙烯 | EB2601 | 農荡偏弱 | | | | 焦煤 | JM2605 | 震荡偏弱 | | | | 玉米 | C2601 | 震荡偏弱 | | | 板块 | 品种 | 主力合约 | 【全品种日评】 点评 | 操作建议 | | | | | | 12月美联储议息会议将召开,继续降息仍是大概 | | | | IF2512 | | 率情景,但市场仍担忧鹰派发言,顺周期资产显著 | | | | IH2512 | | 回调。A股近日量能有所放大,阶段底部确认后, | | | 股指 | IC2512 | 股指低开低走,双创板块逆势上扬 | 低波动率持续月余后预期将有升波。短期单边期货 | | | | IM2512 | | 做多操作难度较大,逢回调可轻仓、分段布局中证 1000看跌期权牛市价差。 | | | | | | 当前10年期国债在1.85%阶段高点附近仍有阻 | | | | | | 力,对应T2603合约在 ...

广发早知道-汇总版 广发期货研究所 电 话：020-88818009 E-Mail：zhangxiaozhen@gf.com.cn 目录： 每日精选： 每日重点关注品种逻辑解析 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银、铂、钯 集运欧线 商品期货： 有色金属： 铜、氧化铝、铝、铝合金、锌、锡、镍、不锈钢、碳酸锂、工业硅、多 晶硅 黑色金属： 钢材、铁矿石、焦煤、焦炭 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、红枣、苹果 能源化工： PTA、乙二醇、苯乙烯、纯苯、短纤、瓶片、烧碱、PVC、LLDPE、PP、 甲醇、合成橡胶、橡胶、玻璃纯碱 2025 年 12 月 10 日星期三 投资咨询业务资格： 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 周敏波（投资咨询资格：Z0010559） 电话：020-81868743 邮箱：zhoumingbo@gf.com.cn 朱迪（投资咨询资格：Z0015979） 电话：020-88818008 邮箱：zh ...

| 锡产业期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | 2025年12月9日 | | | | 寇帝斯 | Z0021810 | | 现货价格及基差 | | | | | | | 品种 | 现值 | 前值 | 涨跌 | 涨跌幅 | 单位 | | SMM 1#锡 | 314000 | 314800 | -800 | -0.25% | | | SMM 1#锡升贴水 | 50 | 50 | 0 | 0.00% | 元/吨 | | 长江 1#锡 | 314500 | 315300 | -800 | -0.25% | | | LME 0-3升贴水 | 70.00 | 70.00 | 0.00 | 0.00% | 美元/吨 | | 内外比价及进口盈亏 | | | | | | | 品种 | मोरिस | 前值 | 涨跌 | 涨跌幅 | 单位 | | 进口盈亏 | -15329.05 | -16618.50 | 1289.45 | 7.76% | 元/吨 | | 沪伦比值 | 7.9 ...

1. Report Industry Investment Ratings No information about industry investment ratings is provided in the reports. 2. Core Views 2.1 Oil and Fat Industry - Malaysian BMD crude palm oil futures are in a volatile adjustment. There are concerns about inventory growth and weak December exports. It is oscillating around 4,100 ringgit, waiting for the MPOB supply - demand report. Domestic Dalian palm oil futures may weaken under the influence of Malaysian palm oil, with a possible decline to seek support at 8,500 yuan. - The market expects an increase in the US soybean ending inventory, which pressures CBOT soybeans and affects CBOT soybean oil. The decline of BMD palm oil also drags down CBOT soybean oil. Domestically, the decline of international related varieties has a greater impact on Dalian soybean oil. Factory开机率 has decreased, but the inventory change is not significant due to limited downstream demand [1]. 2.2 Pig Industry - Spot prices show signs of stabilizing and rebounding. Although large - scale enterprises still have significant sales pressure, the increasing demand for southern curing and the potential entry of secondary fattening may support prices. However, the overall large - scale production increase pattern remains unchanged. - The futures market is affected by a positive macro - atmosphere. Bullish funds are actively entering the market, and the futures may maintain a slightly stronger trend in the short term [3]. 2.3 Meal and Bean Industry - The US soybean price is in a correction, and China's policy - based procurement is uncertain. The domestic meal market remains in a loose pattern, and the single - side price is under pressure. The key lies in whether US soybean purchases can meet the domestic arrival volume in March. The market outlook is weak, but the basis may strengthen [6]. 2.4 Sugar Industry - ICE raw sugar futures slightly increase, but the sufficient supply and weak demand in the spot market suppress the upward movement of futures prices. Brazil's sugar exports in early December increased. India's sugar production has increased significantly, and the overall raw sugar price is in a bearish pattern. The domestic sugar price is expected to be in a volatile and weak trend [9]. 2.5 Corn and Corn Starch Industry - In the northeast region, the price is stable due to the support of inventory replenishment and policy procurement. In the north - central region, prices are firm due to the shortage of high - quality grains. On the demand side, some deep - processing enterprises are in deficit, and feed enterprises have low enthusiasm for long - term inventory building. The futures price may decline slightly in the short term, but the decline may be limited [11]. 2.6 Cotton Industry - ICE cotton futures closed lower. Traders are cautious before the USDA monthly supply - demand report. US cotton export sales increased significantly in the week ending November 6. Domestically, the hedging pressure on Zhengzhou cotton is increasing, but the rigid demand from the industrial downstream and the good profit situation of textile enterprises may limit the downward space. The cotton price may fluctuate within a range in the short term [15]. 2.7 Egg Industry - The supply side still has significant pressure, with a high inventory of laying hens and slow decline. The demand side lacks obvious positive factors, but the positive market sentiment provides some support. Egg prices are expected to be weak with limited downward space [19]. 3. Summary by Related Catalogs 3.1 Oil and Fat Industry 3.1.1 Price Changes - **Soybean Oil**: The spot price in Jiangsu remained unchanged at 8,600 yuan, the futures price (Y2601) decreased by 0.44% to 8,230 yuan, and the basis increased by 10.78% to 370 yuan. - **Palm Oil**: The spot price in Guangdong decreased by 0.57% to 8,690 yuan, the futures price (P2601) decreased by 0.73% to 8,706 yuan, and the basis increased by 46.67% to - 16 yuan. - **Rapeseed Oil**: The spot price in Jiangsu decreased by 1.00% to 8,960 yuan, the futures price (OI601) decreased by 1.21% to 9,502 yuan, and the basis increased by 4.30% to 388 yuan [1]. 3.1.2 Spread Changes - **Inter - delivery Spread**: The soybean oil 01 - 05 spread increased by 6.45% to 198 yuan, the palm oil 01 - 05 spread decreased by 50.00% to 4 yuan, and the rapeseed oil 01 - 05 spread increased by 8.06% to 228 yuan. - **Cross - variety Spread**: The spot soybean - palm oil spread increased by 35.71% to - 90 yuan, the 2601 soybean - palm oil spread increased by 1.76% to - 670 yuan, the spot rapeseed - soybean oil spread decreased by 7.19% to 1,290 yuan, and the 2601 rapeseed - soybean oil spread decreased by 5.92% to 1,272 yuan [1]. 3.2 Pig Industry 3.2.1 Futures Indicators - The price of the main contract of live pigs 2605 increased by 1.27% to 11,955 yuan/ton, and the price of 2603 increased by 2.71% to 11,385 yuan/ton. The 3 - 5 spread increased by 20.83% to - 570 yuan. The main contract positions increased by 81.80% to 151,512, and the number of warehouse receipts remained unchanged at 108 [3]. 3.2.2 Spot Indicators - Spot prices in different regions showed mixed trends. The daily slaughter volume of sample points increased by 0.07% to 217,041 heads, the weekly white - strip price remained unchanged at 18.21 yuan, the weekly piglet price remained unchanged at 17.00 yuan/kg, the weekly sow price remained unchanged at 32.47 yuan, the weekly slaughter weight increased by 0.46% to 129.82 kg, the weekly self - breeding profit decreased by 13.31% to - 168 yuan/head, the weekly purchased - pig breeding profit decreased by 4.25% to - 259 yuan/head, and the monthly fertile sow inventory decreased by 1.12% to 3,990 million heads [3]. 3.3 Meal and Bean Industry 3.3.1 Price Changes - **Soybean Meal**: The spot price in Jiangsu decreased by 0.65% to 3,040 yuan, and the futures price (M2605) decreased by 1.52% to 2,778 yuan. - **Rapeseed Meal**: The futures price (RM2605) decreased by 1.47% to 2,342 yuan. - **Soybean**: The warehouse receipt of Harbin soybeans remained unchanged at 15,766 [6]. 3.3.2 Spread Changes - The soybean meal 05 - 09 spread decreased by 2.61% to - 3 yuan, the rapeseed meal 05 - 09 spread increased by 4.35% to - 66 yuan, the spot oil - meal ratio increased by 0.66% to 2.83, and the 2605 soybean - rapeseed meal spread decreased by 1.80% to 436 yuan [6]. 3.4 Sugar Industry 3.4.1 Futures Market - The price of sugar 2601 increased by 0.64% to 5,337 yuan/ton, the price of 2605 increased by 0.21% to 5,244 yuan/ton, and the ICE raw sugar main contract increased by 0.07% to 14.83 cents/pound. The 1 - 5 spread increased by 32.86% to 93 yuan/ton. The main contract positions decreased by 8.69% to 289,716, the number of warehouse receipts increased to 181, and the effective forecast increased by 714.21% to 1,490 [9]. 3.4.2 Spot Market - Spot prices in Nanning remained unchanged at 5,360 yuan, and in Kunming decreased by 0.37% to 5,320 yuan. The basis in Nanning decreased by 8.66% to 116 yuan, and in Kunming decreased by 28.97% to 76 yuan. The import price of Brazilian sugar (within quota) decreased by 0.37% to 4,079 yuan, and (outside quota) decreased by 0.39% to 5,168 yuan [9]. 3.4.3 Industry Situation - National sugar production increased by 12.03% to 1,116.21 million tons, sales increased by 9.17% to 1,048.00 million tons, the national sales ratio decreased by 2.60% to 93.90%, and the industrial inventory decreased by 41.20% to 68.21 million tons. Sugar imports increased by 37.50% to 55.00 million tons [9]. 3.5 Corn and Corn Starch Industry 3.5.1 Corn - The price of corn 2601 decreased by 1.48% to 2,261 yuan, the basis increased by 97.14% to 69 yuan, the 1 - 5 spread decreased by 144.44% to - 4 yuan. The northern - southern trade profit decreased by 20.41% to 39 yuan, the import profit decreased by 15.13% to 314 yuan, the number of remaining vehicles in Shandong deep - processing enterprises in the morning decreased by 13.64% to 399, the positions decreased by 2.25% to 2,354,124, and the number of warehouse receipts remained unchanged at 57,705 [11]. 3.5.2 Corn Starch - The price of corn starch 2601 decreased by 1.51% to 2,549 yuan, the basis increased by 1950.00% to 41 yuan, the 1 - 5 spread decreased by 40.74% to - 38 yuan, the 01 spread between starch and corn decreased by 1.71% to 288 yuan, the Shandong starch profit decreased by 25.00% to 6 yuan, the positions decreased by 2.52% to 333,585 [11]. 3.6 Cotton Industry 3.6.1 Futures Market - The price of cotton 2605 increased by 0.04% to 13,725 yuan/ton, the price of 2601 remained unchanged at 13,750 yuan/ton, the ICE US cotton main contract decreased by 0.33% to 63.74 cents/pound. The 5 - 1 spread increased by 16.67% to - 25 yuan. The main contract positions decreased by 1.75% to 489,062 hands, the number of warehouse receipts increased by 1.62% to 2,753, and the effective forecast increased by 8.02% to 3,004 [15]. 3.6.2 Spot Market - The Xinjiang arrival price of 3128B decreased by 0.17% to 14,847 yuan, the CC Index of 3128B decreased by 0.09% to 15,009 yuan, and the FC Index of M: 1% decreased by 0.08% to 12,843 yuan [15]. 3.6.3 Industry Situation - Commercial inventory increased by 28.7% to 468.36 million tons, industrial inventory increased by 0.9% to 93.96 million tons, imports decreased by 10.0% to 9.00 million tons, and the bonded - area inventory decreased by 1.8% to 32.20 million tons [15]. 3.7 Egg Industry 3.7.1 Futures and Spot Prices - The price of the egg 01 contract increased by 1.15% to 3,153 yuan/500KG, and the price of 02 increased by 0.80% to 3,038 yuan/500KG. The egg - producing area price increased by 0.41% to 2.98 yuan/FT, the basis decreased by 15.45% to - 178 yuan/500KG, and the 1 - 2 spread increased by 11.65% to 115 yuan [19]. 3.7.2 Related Indicators - The price of laying hens increased by 5.56% to 2.85 yuan/feather, the price of culled chickens increased by 1.58% to 3.86 yuan/FT, the egg - feed ratio increased by 3.90% to 2.40, and the breeding profit increased by 20.35% to - 22.62 yuan/feather [19].

原木期货日报 288.00 297.00 -9.0 -3.03% 0.45% 万/立方米 山东 199.50 198.6 0.9 江苏 85.09 74.23 -10.9 -12.77% 需求:日均出库量 (周慶) 12月5日 涨跌 涨跌幅 地区 11月28日 車位 0.53 中国 6.66 6.13 9% 12% 山东 0.35 力/立方米 3.39 3.04 江苏 2.71 2.62 0.09 3% 原木主要港口库存(万方) 原木日均出库量(万方) 750 650 550 450 350 250 150 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/1 10/111/112/1 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/110/111/112/11/1 =2022 == 2023 =2024 2025 =2022 -2023 =2024 2025 辐射松4米中A:CFR价(美元/JAS立方米 辐射松3.8中A现货价(元/立方米) 220 870 2020 2021 =2022 2024 2025 2023 850 180 830 160 810 790 77 ...

知识图强,求实奉献,客户至上,合作共赢 | 现货价格 | 期货价格 | 基差率 | 留注 | 品种/合约 | 基差 | 历史分位数 | 现货参考 | 1.18% | 64 | 折算价:72硅铁合格块:内蒙-天津仓单 | 硅铁 (SF603) | 5444 | 63.10% | 5508 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1.12% | 64 | 折算价:6517硅锰:内蒙-湖北仓单 | 硅罐(SM603) | 5800 | 5736 | 37.50% | 157 | 5.03% | 螺纹钢 (RB2605) | HRB40020mm: 上海 | 3280 | 3123 | 65.20% | | | | | | Q235B: 4.75mm: 上海 | -11 | 热卷 (HC2605) | 3280 | 3291 | -033% | 13.40% | 64 | 779 | 折算价:62.5%巴混粉(BRBF) ...

| 锡产业期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | 2025年12月9日 | | | | 寇帝斯 | Z0021810 | | 现货价格及基差 | | | | | | | 品种 | 现值 | 前值 | 涨跌 | 涨跌幅 | 单位 | | SMM 1#锡 | 314000 | 314800 | -800 | -0.25% | | | SMM 1#锡升贴水 | 50 | 50 | 0 | 0.00% | 元/吨 | | 长江 1#锡 | 314500 | 315300 | -800 | -0.25% | | | LME 0-3升贴水 | 70.00 | 70.00 | 0.00 | 0.00% | 美元/吨 | | 内外比价及进口盈亏 | | | | | | | 品种 | मोरिस | 前值 | 涨跌 | 涨跌幅 | 单位 | | 进口盈亏 | -15329.05 | -16618.50 | 1289.45 | 7.76% | 元/吨 | | 沪伦比值 | 7.9 ...

| 股指期货价差日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | | | 叶倩宁 | Z0016628 | | 2025 125202 | | | | | | | 价差 | 品种 | 電新價 | 较前一日变化 | 历史1年分位数 | 全历史分位数 | | F期现价元 | | 8.55 | 1.58 | 63.90% | 40.80% | | 期现价差 | 期见价美 | -4.36 | 0.25 | 39.70% | 36.70% | | IC期现价差 | | 28.37 | 13.73 | 70.00% | 43.00% | | IM期刊价去 | | -42.65 | 12.56 | 85.00% | 86.60% | | 次月-当月 | | -15.80 | 1.60 | 28.20% | 27.90% | | 李月 崇月 | | 37.20 | 1.40 | 38.50% | 29.70% | | 「跨期价差 | 远月-当月 | -84.20 | 2.40 | 26.60% | 22.90 ...