《农产品》日报-20250917

Group 1: Overall Information - The reports cover multiple industries including粕类, livestock (pigs), oils, corn, sugar, cotton, and eggs, with data as of September 17, 2025 [1][3][7][8][12][14][17] Group 2: Investment Ratings - No investment ratings are provided in the reports Group 3: Core Views 粕类 - Domestic two - meal decline space is limited due to cost support, and it is expected to operate in the range of 3000 - 3100 in Q4 [1] Pigs - Spot pressure continues to materialize, demand recovery is uncertain, and the futures and spot prices are expected to continue to bottom out [3] Oils - Palm oil futures may strengthen, and soybean oil has a complex situation with more supply currently but potential price support later [7] Corn - Short - term market supply and demand are loose, the market is oscillating weakly, and it remains weak in the medium - term [8] Sugar - The raw sugar price is expected to bottom - oscillate, and the domestic sugar market may stabilize near 5500 but has limited upside [12] Cotton - Short - term domestic cotton prices may oscillate in a range, and face pressure after new cotton is listed [14] Eggs - Egg prices may rise to a high but be suppressed by supply, and there is a risk of a slight decline after the demand fades [18] Group 4: Industry - Specific Summaries 粕类 - For soybean meal, the spot price in Jiangsu is 3030, the futures price of M2601 is 3041, and the basis of M2601 is - 11. The import profit of Brazilian November shipment is 7. For rapeseed meal, the spot price in Jiangsu is 2620, the futures price of RM2601 is 2518, and the basis of RM2601 is 102. The import profit of Canadian November shipment is 866 [1] Pigs - Futures prices such as those of contracts 2511 and 2601 decline slightly, and spot prices in various regions also drop. The slaughter volume increases slightly, and breeding profits decline [3] Oils - For soybean oil, the futures price of Y2601 is 8122. For palm oil, the spot price in Guangdong is 9400, and the futures price of P2601 is 9252. For rapeseed oil, the spot price in Jiangsu is 10060, and the futures price of Ol601 is 9586 [7] Corn - The price of corn 2511 at Jinzhou Port is 2166, and the basis is 144. The price of corn starch 2511 is 2443, and the basis is 117 [8] Sugar - The futures price of sugar 2601 is 5547, and the spot price in Nanning is 5890. The production and sales of sugar increase year - on - year, and the import volume also rises [12] Cotton - The futures price of cotton 2605 is 13860, and the spot price of Xinjiang 3128B is 15214. Industrial and commercial inventories decline, and the import volume increases [14] Eggs - The futures prices of egg contracts 11 and 10 decline, the spot price in the production area rises, and the breeding profit improves [17]