玉米：震荡偏弱

Report Industry Investment Rating - The investment rating for the corn industry is "shockingly weak" [1] Core Viewpoints - The report provides a comprehensive analysis of the corn market, including spot prices, futures prices, trading volume, open interest, and basis differentials, indicating a shockingly weak market trend [1] Summary by Relevant Catalogs Fundamental Tracking - Spot prices: The northeast purchase average price is unavailable, the Jinzhou closing price is 2,370 yuan/ton (down 10 yuan), the Guangdong Shekou price is 2,460 yuan/ton (unchanged), and the Shandong corn starch price is 2,840 yuan/ton (unchanged) [1] - Futures prices: C2509 closed at 2,326 yuan/ton yesterday (down 1.36%), and 2,321 yuan/ton in the night session (down 0.21%); C2511 closed at 2,283 yuan/ton yesterday (down 0.91%), and 2,378 yuan/ton in the night session (up 4.16%) [1] - Trading volume and open interest: C2509 had a trading volume of 644,587 lots yesterday (up 192,508 lots) and an open interest of 986,514 lots (up 41,168 lots); C2511 had a trading volume of 114,997 lots yesterday (up 48,514 lots) and an open interest of 364,497 lots (up 11,692 lots); the total trading volume of the corn market was 838,871 lots yesterday (up 282,181 lots), and the total open interest was 1,563,264 lots (up 54,259 lots) [1] - Warehouse receipts: The total number of corn warehouse receipts was 203,732 lots yesterday (down 586 lots) [1] - Basis differentials: The main 09 basis was 44 yuan/ton, and the 09 - 11 inter - period spread was 43 yuan/ton [1] Macro and Industry News - Northern corn port collection prices are 2,330 - 2,350 yuan/ton (listed), container port collection prices are 2,370 - 2,400 yuan/ton, both unchanged from yesterday; Guangdong Shekou bulk carrier prices are 2,440 - 2,460 yuan/ton, unchanged from yesterday, and container new - crop quotes are 2,480 - 2,520 yuan/ton [2] - Northeast enterprise corn prices are falling, with Heilongjiang deep - processing dry - grain purchase prices at 2,220 - 2,290 yuan/ton, Jilin deep - processing mainstream purchase prices at 2,240 - 2,270 yuan/ton, and Inner Mongolia deep - processing mainstream purchase prices at 2,280 - 2,370 yuan/ton [2] - North China corn prices are mostly falling, with wheat added to compound feed at an average ratio of 20% - 30%, Shandong deep - processing prices at 2,480 - 2,550 yuan/ton, poultry feed corn at about 2,480 yuan/ton, and pig feed corn at 2,500 - 2,520 yuan/ton [2] - Imported grain prices: The July - August shipment of Guangdong Argentine sorghum (bulk) is quoted at 2,130 yuan/ton, Australian sorghum at 2,430 yuan/ton; the July - August shipment of imported barley is pre - sold at 2,110 - 2,160 yuan/ton, and the November - December shipment at 2,050 yuan/ton; the July delivery of feed wheat is quoted at 2,540 - 2,550 yuan/ton [2] Trend Intensity - The trend intensity of corn is 0 [3]