Group 1: Investment Ratings - No investment ratings provided in the report Group 2: Core Views - Corn prices will continue to fluctuate with an upper limit and lower support in the short - term, and are expected to decline under pressure in the long - term [2] - Starch prices are expected to continue to fluctuate weakly in the short - term and remain bearish in the long - term [3] - International sugar prices are under pressure, and domestic sugar prices face upward pressure on the futures market [5] - Cotton prices have limited downward space and are in a wait - and - see state for demand verification [8] - Egg prices may trigger more old - hen culling if the rebound in late August is less than expected [13] - Apple production in the new season may not differ much from last year, and consumption is in a off - season [16] - Pig prices have short - term weak fluctuations, and the medium - term supply is still under pressure, while the long - term has policy - related support [16] Group 3: Corn/Starch Price Data - From August 15 - 21, 2025, the price in Jinzhou remained at 2210, in Weifang it decreased by 8 to 2446, and in Shekou it remained at 2380. The basis increased by 4 to 44, and the trade profit changed by - 5 and import profit changed by 2 [2] Market Analysis - In the short - term, corn prices will continue to fluctuate. In the long - term, prices are expected to decline under pressure until consumption improves or there is a reluctance to sell in the production areas [2] - Starch prices will continue to fluctuate weakly in the short - term and remain bearish in the long - term due to high inventory and expected lower raw material costs [3] Group 4: Sugar Price Data - From August 15 - 21, 2025, the spot prices in Liuzhou, Nanning, and Kunming remained unchanged. The basis decreased by 12 to 342, the import profit increased by 61, and the number of warehouse receipts decreased by 493 to 15752 [5] Market Analysis - International sugar prices are under pressure due to Brazil's peak crushing season. Domestic sugar prices are affected by large - scale point - pricing of processing sugar mills and upcoming large - scale imports [5] Group 5: Cotton/Cotton Yarn Price Data - From August 15 - 21, 2025, the price of 3128 cotton decreased by 5 to 15025, the import profit had no available data for change, and the sum of warehouse receipts and forecasts decreased by 181 to 7523. The import profit of Vietnamese yarn increased by 23 to 466, and the 32S spinning profit increased by 5 to - 876 [8] Market Analysis - Cotton prices have limited downward space, and attention should be paid to demand - side changes [8] Group 6: Eggs Price Data - From August 15 - 21, 2025, the price in Hebei remained at 3.31, in Henan decreased by 0.05 to 3.05, and in Hubei decreased by 0.11 to 3.11. The basis decreased by 40 to 320 [12] Market Analysis - Egg prices rebounded from a low level in July but declined in early August due to insufficient demand. Attention should be paid to the rhythm of chicken culling and cold - storage egg release [13] Group 7: Apples Price Data - From August 15 - 21, 2025, the price of Shandong 80 first - and second - grade apples remained at 7300. The basis for January decreased by 24 to - 704, for May decreased by 14 to - 692, and for October decreased by 85 to - 803 [15][16] Market Analysis - Apple production in the new season may not differ much from last year. Consumption is in an off - season, and the market share is occupied by seasonal fruits [16] Group 8: Pigs Price Data - From August 15 - 21, 2025, the price in Henan Kaifeng decreased by 0.10 to 13.73, in Hubei Xiangyang increased by 0.10 to 14.05, in Shandong Linyi decreased by 0.10 to 13.87, in Anhui Hefei decreased by 0.05 to 14.10, and in Jiangsu Nantong decreased by 0.20 to 14.05. The basis decreased by 90 to - 35 [16] Market Analysis - Pig prices have short - term weak fluctuations, with medium - term supply pressure and long - term policy - related support. Attention should be paid to the slaughter rhythm, weather, and policies [16]
农产品早报-20250822
Yong An Qi Huo·2025-08-22 01:31