农产品日报：苹果库内交易一般，红枣等外价格上涨-20250820

Reporting Industry Investment Rating - Apple: Neutral [4] - Red dates: Neutral [8] Core Views of the Report - Apple: With low remaining inventory at the origin and little change in the expected output of the new production season compared to last year, there are no prominent contradictions in the apple fundamentals. Short - term prices are expected to remain stable. Attention should be paid to the trading situation of new - season early - maturing apples [4]. - Red dates: As long as the reduction in production cannot be disproven, the futures market may still rise in the short - term due to capital sentiment. However, with the high inventory of old dates, the final production of new dates needs to be monitored. If the reduction in production is less than expected, red date prices may turn weak again under the pressure of high inventory [8]. Summary by Relevant Catalogs Apple Market News and Important Data - Futures: The closing price of the apple 2510 contract yesterday was 8150 yuan/ton, a change of - 80 yuan/ton from the previous day, a decrease of - 0.97% [1]. - Spot: The price of 80 first - and second - grade late Fuji in Shandong Qixia was 3.80 yuan/jin, unchanged from the previous day; the price of over 70 semi - commercial late Fuji in Shaanxi Luochuan was 4.50 yuan/jin, unchanged from the previous day. The spot basis AP10 - 550 in Shandong Qixia changed + 80 from the previous day, and the spot basis AP10 + 850 in Shaanxi Luochuan also changed + 80 from the previous day [1]. Recent Market Information - Early - maturing apples are increasing in volume. The quality of early - maturing Gala apples in northern Shaanxi is uneven, with prices showing a polarization. In Shandong, the trading volume of early - maturing varieties such as Luli, Jinduhong, and Cream Huashuo is small, and the procurement enthusiasm of merchants is fair. The market for stored Fuji apples is stable and dull. Merchants in Shandong are generally less enthusiastic about purchasing, and the trading atmosphere is not strong. The demand in the sales area is poor, and the impact of seasonal fruits is still obvious [2]. Market Analysis - Yesterday, the apple futures price closed lower. The in - warehouse trading was slow, and the enthusiasm of merchants was average. The low inventory supported the price, and the proportion of remaining large and high - quality fruits was high. Attention should be paid to the price changes after a large number of Gala apples are listed and the quality of new - season fruits. The early - maturing fruits and stored fruits had average sales last week. New - season Fuji apples have a low price, and the profit of merchants has declined. The supply of early - maturing varieties this week may squeeze the market share of stored fruits, and the de - stocking of stored fruits is expected to slow down. The price of Gala apples in some producing areas may decline [3]. Strategy - Neutral. Due to the low remaining inventory at the origin and little change in the expected output of the new production season compared to last year, the apple fundamentals have no prominent contradictions. Short - term prices are expected to remain stable, and attention should be paid to the trading situation of new - season early - maturing apples [4]. Red Dates Market News and Important Data - Futures: The closing price of the red date 2601 contract yesterday was 11550 yuan/ton, a change of + 30 yuan/ton from the previous day, an increase of + 0.26% [5]. - Spot: The price of first - grade grey dates in Hebei was 9.60 yuan/kg, unchanged from the previous day. The spot basis CJ01 - 1950 changed - 30 from the previous day [5]. Recent Market Information - In the main producing areas of Xinjiang grey dates, jujube farmers are actively managing their orchards. The first - crop fruit setting was average in some orchards, but the second - and third - crop fruit setting was better due to temperature drops and rainfall in early July. In the Hebei Cui'erzhuang market, about 10 trucks of dates arrived, and the prices of some grades were slightly adjusted. In the Guangdong Ruyifang market, 1 truck of dates arrived, and the prices of small - grade dates increased by 0.20 - 0.30 yuan/kg [6]. Market Analysis - The red date futures price closed higher yesterday. The supply of goods in the Hebei sales area continued, and the price of sub - standard dates increased. Attention should be paid to the impact of weather changes on the fruit - swelling period of red dates. There are differences in the market's expectations for the new - season red date production, and the game between bulls and bears has intensified [7]. Strategy - Neutral. As long as the reduction in production cannot be disproven, the futures market may still rise in the short - term due to capital sentiment. However, with the high inventory of old dates, the final production of new dates needs to be monitored. If the reduction in production is less than expected, red date prices may turn weak again under the pressure of high inventory [8].