农业：美国大选落定，种植产业链有望持续发力

Investment Rating - The report assigns an "Overweight" rating for the agriculture sector, maintaining the same rating as the previous report [1]. Core Viewpoints - The report highlights that with the conclusion of the U.S. elections, the planting industry chain is expected to continue its momentum. The focus is on enhancing China's food self-sufficiency, with seeds being a core driver for yield improvement. The application of advanced agricultural technologies, such as genetically modified organisms (GMOs), is anticipated to accelerate, benefiting companies with strong competitive varieties and leading technological reserves [4][3]. Summary by Sections Investment Recommendations - If the U.S. imposes additional tariffs on China, food products may continue to be used as a countermeasure. China's imports of soybeans and corn from the U.S. are expected to decrease. The necessity for food self-sufficiency in China is increasing, with seeds being crucial for yield enhancement. Companies with strong competitive varieties and advanced technology are likely to benefit. Recommended stocks include Longping High-Tech, with beneficiaries including Qianyuan High-Tech, Fengle Seed Industry, Kangnong Seed Industry, Dabeinong, Denghai Seed Industry, Sukang Agricultural Development, and Beidahuang [4][8]. Industry Updates - Since Q4, prices for corn and wheat have been stabilizing. Looking ahead, with reduced imports and gradually recovering demand, prices for these grains are expected to rebound. The new season for seed pre-sales has begun, and attention should be paid to companies with strong pre-sale performance and robust reserves of GMO varieties. The recommended stock remains Longping High-Tech, with beneficiaries including Qianyuan High-Tech, Fengle Seed Industry, Kangnong Seed Industry, Dabeinong, Denghai Seed Industry, Sukang Agricultural Development, and Beidahuang [8][4].