光大期货：12月16日软商品日报

Sugar Industry - As of December 15, India has 479 sugar mills operating for the 2025/26 crushing season, an increase of 6 mills year-on-year [2] - Sugar production in India is 7.79 million tons, which is an increase of 1.72 million tons or 28.34% year-on-year [2] - Domestic spot prices for new sugar in Guangxi are quoted at 5340-5440 CNY/ton, down by 10 CNY/ton, while Yunnan's new sugar is priced at 5210-5320 CNY/ton, also down by 10 CNY/ton [2] - The market is experiencing general concerns due to the recent influx of new sugar, leading to a slight decline in domestic spot prices [2] Cotton Industry - On Monday, ICE cotton rose by 0.16% to 63.93 cents per pound, while CF601 increased by 1.08% to 14,000 CNY/ton [3] - The main contract's open interest decreased by 50,374 contracts to 347,100 contracts [3] - The cotton 3128B spot price index is at 14,690 CNY/ton, up by 60 CNY/ton from the previous day [3] - The market is awaiting U.S. economic data, with fluctuations in the dollar index impacting sentiment [3] - Recent updates on U.S. cotton exports show relatively good performance, providing some support for cotton prices [3] - There are discussions regarding the regulation of cotton planting areas for the new year, with expectations for an official report [3][8] - The cotton market is characterized by mixed factors, with support from demand and policy, while facing pressure from high production levels and potential hedging pressures [8]