光大期货软商品日报-20250606

Group 1: Research Views - The ICE U.S. cotton rose 0.21% on Thursday, closing at 67.91 cents per pound, and CF509 closed flat, at 13,245 yuan per ton. The position of the main contract increased by 4,771 lots to 530,200 lots. The cotton arrival price in Xinjiang was 14,431 yuan per ton, unchanged from the previous day, and the China Cotton Price Index for Grade 3128B was 14,543 yuan per ton, down 1 yuan per ton from the previous day. The short - term Zhengzhou cotton futures price is expected to move up slightly, but the space depends on subsequent implementation [1]. - As of the end of May, the national sugar production was 11.1621 million tons, a year - on - year increase of 1.1989 million tons or 12.03%. The cumulative sugar sales were 8.1138 million tons, a year - on - year increase of 1.521 million tons or 23.07%, and the cumulative sugar sales rate was 72.69%, 6.52 percentage points faster than the previous year. The domestic sugar futures price is expected to maintain a weak pattern considering future imported sugar arrival pressure [1]. Group 2: Daily Data Monitoring - For cotton, the 7 - 9 contract spread was - 225, down 5; the main contract basis was 1,298, up 19; the Xinjiang spot price was 14,431, unchanged; and the national spot price was 14,543, down 1 [2]. - For sugar, the 7 - 9 contract spread was 118, down 7; the main contract basis was 415, up 18; the Nanning spot price was 6,090, unchanged; and the Liuzhou spot price was 6,145, unchanged [2]. Group 3: Market Information - On June 5, the number of cotton futures warehouse receipts was 10,939, a decrease of 38 from the previous trading day, with 369 valid forecasts [3]. - On June 5, the domestic cotton arrival prices were 14,431 yuan per ton in Xinjiang, 14,559 yuan per ton in Henan, 14,559 yuan per ton in Shandong, and 14,770 yuan per ton in Zhejiang [3]. - On June 5, the yarn comprehensive load was 54.8, down 0.3 from the previous day; the yarn comprehensive inventory was 25, up 0.1; the short - fiber cloth comprehensive load was 50.1, unchanged; and the short - fiber cloth comprehensive inventory was 31.4, up 0.1 [3]. - On June 5, the sugar spot prices were 6,090 yuan per ton in Nanning and 6,145 yuan per ton in Liuzhou, both unchanged from the previous day [3]. - On June 5, the number of sugar futures warehouse receipts was 29,893, a decrease of 407 from the previous trading day, with 0 valid forecasts [4]. Group 4: Research Team Introduction - Zhang Xiaojin is the director of resource product research at Everbright Futures Research Institute, focusing on the sugar industry [19]. - Zhang Linglu is a resource product analyst at Everbright Futures Research Institute, responsible for research on futures varieties such as urea and soda - ash glass [20]. - Sun Chengzhen is a resource product analyst at Everbright Futures Research Institute, mainly engaged in fundamental research and data analysis of varieties such as cotton, cotton yarn, and ferroalloys [21].