天风证券：农产品供应链重构加速，重视生物育种产业化机遇

Core Viewpoint - The restructuring of global agricultural supply chains is accelerating under the backdrop of "de-globalization" in the United States, which is expected to enhance the importance of national food security and resource safety, thereby promoting the optimization of domestic grain structure [1] Group 1: Agricultural Sector Insights - Focus on the breeding sector indicates that the commercialization of genetically modified (GM) crops in China is likely to accelerate [1] - Biobreeding, characterized by high technological and resource barriers, is expected to help the seed industry overcome the current situation of oversupply [1] - Leading seed companies, with their advanced GM reserves, are anticipated to further enhance their competitiveness in the market [1]