广发期货：期现日报-20250910

1. Overall Investment Rating No investment rating for the industries is provided in the reports. 2. Core Views - Oils and Fats: Maintain a cautiously bullish view. Palm oil futures may strengthen after the MPOB report. Soybean oil's production decline supports the basis price. [1] - Sugar: Sugar prices are expected to remain volatile and weak due to high supply pressure and lack of positive drivers. [3] - Corn and Corn Starch: Corn prices may decline in the short - term and remain weak in the medium - term due to expected new - season supply and weak demand. [4] - Cotton: Domestic cotton prices may trade in a range in the short - term and face pressure after new cotton is listed. [7] - Eggs: Egg prices may rebound in early September but with limited upside, and a bearish view is maintained overall. [9] - Meal and Soybeans: The medium - to long - term outlook for two meals is bullish, but short - term adjustment risks should be monitored. [10] - Pigs: Pig prices have limited room to fall further, but demand's ability to absorb supply is uncertain, and short - term supply pressure is relatively limited. [12] 3. Summary by Industry Oils and Fats Industry - Futures Prices: Y2601 soybean oil futures price is 8454, up 0.40%; P2601 palm oil futures price is 9480, up 1.72%; OI601 rapeseed oil futures price is 9980, up 0.50%. [1] - Spot Prices: Jiangsu 9 - month soybean oil spot basis is 01 + 210; Guangdong 9 - month palm oil spot basis is 01+20; Jiangsu 9 - month rapeseed oil spot basis is 01 + 110. [1] - Spreads: Palm oil 09 - 01 spread is 140, up 95.89%; rapeseed oil 09 - 01 spread is 34, up 35.79%; soybean - palm oil spot spread is - 50, down 7.14%. [1] Sugar Industry - Futures Market: Sugar 2601 is 5518, down 0.16%; ICE raw sugar main contract is 15.84, up 1.28%. [3] - Spot Market: Nanning spot price is 5880, unchanged; Kunming is 5820, down 0.17%. [3] - Industry Situation: National sugar production cumulative value is 1116.21, up 12.03%; sales cumulative value is 955.00, up 15.76%. [3] Corn and Corn Starch Industry - Corn: Corn 2511 Jinzhou Port FAS price is 2214, down 0.76%; basis is 106, up 19.10%. [4] - Corn Starch: Corn starch 2511 is 2510, down 0.67%; basis is 150, up 12.78%. [4] Cotton Industry - Futures Prices: Cotton 2605 is 13790, down 0.36%; Cotton 2601 is 13835, down 0.36%. [7] - Spot Prices: Xinjiang 3128B arrival price is 15253, down 0.45%; CC Index 3128B is 15335, down 0.56%. [7] - Industry Situation: Commercial inventory is 148.17, down 18.6%; industrial inventory is 89.23, down 3.5%. [7] Egg Industry - Futures Prices: Egg 11 contract is 3083, up 1.98%; Egg 10 contract is 3060, up 1.93%. [9] - Related Indicators: Egg - chicken feed ratio is 2.50, up 2.88%; breeding profit is - 17.89, up 20.84%. [9] Meal and Soybeans Industry - Soybean Meal: Jiangsu soybean meal spot price is 3030, down 0.33%; M2601 futures price is 3075, down 0.19%. [10] - Rapeseed Meal: Jiangsu rapeseed meal spot price is 2620, down 0.38%; RM2601 futures price is 2550, up 0.31%. [10] - Soybeans: Harbin soybean spot price is 3980, unchanged; soybean No.1 main contract is 3968, down 0.23%. [10] Pig Industry - Futures Market: Pig 2511 is 13230, down 0.56%; Pig 2601 is 13655, down 0.76%. [12] - Spot Market: Henan spot price is 13550, down 150; Shandong is 13600, down 150. [12] - Related Indicators: Sample slaughter volume per day is 148565, up 0.02%; white - strip price per week is unchanged. [12]