农产品早报-20250723

Group 1: Report Overview - The report is an agricultural products morning report released on July 23, 2025, by the agricultural products team of the research center [2] Group 2: Corn and Starch Price Data - Corn prices in Changchun remained stable at 2230 from July 16 - 22, while prices in other regions had minor changes. The overall change in the base price was -2, and the import profit increased by 18. Starch prices in Heilongjiang and Weifang remained stable at 2850 and 2950 respectively, with the base price decreasing by 4 and the processing profit decreasing by 3 [3] Market Analysis - Corn: Reserve imported corn auctions had成交 rates of 25% and 17% this week. Short - term supply increased slightly, but there is still a supply - demand gap before the new crop is on the market. In the long - term, if the import profit persists, it may increase future import orders, and the new crop supply may put downward pressure on prices. Starch: This week, starch quotes were relatively stable, and the transaction situation improved slightly, but the industry continued to accumulate inventory. Short - term prices may have a weak rebound, while long - term prices are expected to be bearish [4] Group 3: Sugar Price Data - From July 16 - 22, the spot prices in Liuzhou remained stable at 6120, and the base price increased by 16. The number of warehouse receipts decreased by 78 [7] Market Analysis - Internationally, the Brazilian sugar market is under supply pressure during the peak crushing season, but there is a potential for a corrective rebound. Domestically, Zhengzhou sugar follows the international market, but its volatility is smaller. With a large amount of imported sugar about to arrive, the upper limit of the futures price is under pressure [7] Group 4: Cotton and Cotton Yarn Price Data - From July 16 - 22, the price of 3128 cotton decreased by 20. The import profit and other indicators also had corresponding changes, and the number of warehouse receipts + forecasts decreased by 5 [8] Market Analysis - Cotton prices rose rapidly due to low inventory and a hot commodity market, but downstream profits are at a historical low. With an expected increase in new crop production, prices may回调, and it is advisable to wait and see [8] Group 5: Eggs Price Data - From July 16 - 22, egg spot prices rebounded from the low level. The prices in various production areas increased, with the base price increasing by 10. The prices of substitutes such as white - feather broilers increased by 0.05, while the price of live pigs decreased by 0.06 [9] Market Analysis - Egg spot prices are in a seasonal upward channel, mainly driven by seasonal factors. However, high cold - storage egg inventory and a high egg - laying hen inventory base may limit the height of the rebound [10] Group 6: Apples Price Data - From July 16 - 22, the spot price of Shandong 80 first - and second - grade apples remained stable at 8100. The national inventory decreased by 6, and the base prices for different months also decreased [12][13] Market Analysis - In the new crop season, apple production in different regions has different trends. The consumption is in the off - season, and the apparent inventory is the lowest in the past five years. The spot price has risen significantly this year, and the market share is squeezed by seasonal fruits [13] Group 7: Pigs Price Data - From July 16 - 22, the spot prices in various production areas decreased slightly, and the base price decreased by 65 [13] Market Analysis - Pig prices rebounded after a high - level decline, but demand support is limited. Long - term over - supply pressure remains, and short - term inventory accumulation is expected. Futures prices are affected by emotions and need further verification from the spot market [13]