《农产品》日报-20250923

Report Industry Investment Ratings No relevant information provided. Core Views Oils and Fats - Palm oil is expected to gradually rise due to positive fundamentals, with Dalian palm oil futures potentially following suit and starting an upward trend [1]. - Soybean oil is under pressure from seasonal harvest and Sino - US trade disputes, but the expected decrease in soybean imports in the fourth quarter may provide long - term support [1]. Sugar - International raw sugar is expected to remain in a bottom - oscillating pattern due to oversupply, while domestic sugar is likely to continue its weak performance [3][4]. Grains and Oilseeds - US soybeans are under pressure, and domestic oilseed meal is expected to maintain a weak - oscillating rhythm due to sufficient supply [6]. Cotton - Medium - term domestic cotton prices may face pressure due to weak demand and high hedging pressure [9]. Corn - The corn market is expected to remain weak in the short term, with attention on new grain purchase rhythms and opening prices [10]. Eggs - Egg prices are expected to oscillate within a bottom - range due to sufficient supply and uncertain demand [15]. Pigs - The pig market has a clear supply recovery pattern, with near - month contracts maintaining weak adjustments, and attention on 1 - 5 and 3 - 7 reverse spread opportunities [17][18]. Summary by Related Catalogs Oils and Fats - Prices: On September 22, 2025, soybean oil spot price in Jiangsu remained unchanged at 8620 yuan/ton, palm oil spot price in Guangdong decreased by 0.32% to 9270 yuan/ton, and rapeseed oil spot price in Jiangsu increased by 0.29% to 10210 yuan/ton [1]. - Spreads: The three - oil 01 - 05 spread increased by 4.35% to 288 yuan/ton, the palm oil 01 - 05 spread increased by 1.98% to 206 yuan/ton, and the rapeseed oil 01 - 05 spread increased by 1.00% to 505 yuan/ton [1]. Sugar - Futures Market: On September 22, 2025, the price of SR2601 decreased by 0.16% to 5452 yuan/ton, and the price of SR2605 decreased by 0.26% to 5432 yuan/ton [3]. - Spot Market: The spot price in Nanning decreased by 0.51% to 5800 yuan/ton, and the spot price in Kunming decreased by 0.43% to 5820 yuan/ton [3]. - Industry Situation: National sugar production increased by 12.03% year - on - year to 1116.21 million tons, and national sugar sales increased by 12.87% year - on - year to 1000 million tons [3]. Grains and Oilseeds - Prices: On September 22, 2025, the spot price of soybean meal in Jiangsu remained unchanged at 2950 yuan/ton, the spot price of rapeseed meal in Jiangsu remained unchanged at 2600 yuan/ton, and the spot price of soybeans in Harbin remained unchanged at 3980 yuan/ton [6]. - Spreads: The soybean meal 01 - 05 spread increased by 10.53% to 252 yuan/ton, the rapeseed meal 01 - 05 spread increased by 14.81% to 155 yuan/ton, and the soybean - rapeseed meal 2601 spread increased by 2.85% to 506 yuan/ton [6]. Cotton - Futures Market: On September 22, 2025, the price of CF2605 decreased by 0.66% to 13812 yuan/ton, and the price of CF2601 decreased by 0.80% to 13610 yuan/ton [9]. - Spot Market: The Xinjiang arrival price of 3128B decreased by 0.34% to 15146 yuan/ton, and the CC Index of 3128B decreased by 0.39% to 15224 yuan/ton [9]. - Industry Situation: Warehouse inventory decreased by 20.6% month - on - month to 117.59 million tons, and industrial inventory decreased by 3.4% month - on - month to 86.21 million tons [9]. Corn - Futures Market: On September 22, 2025, the price of C2511 decreased by 0.97% to 2147 yuan/ton, and the price of CS2511 decreased by 1.30% to 2431 yuan/ton [10]. - Spot Market: The FOB price at Jinzhou Port increased by 0.88% to 2300 yuan/ton, and the spot price of corn starch in Changchun remained unchanged at 2560 yuan/ton [10]. - Spreads: The C11 - 3 spread decreased by 200.00% to - 1 yuan/ton, and the CS11 - 3 spread decreased by 45.00% to - 29 yuan/ton [10]. Eggs - Prices: On September 22, 2025, the price of the JD11 contract decreased by 1.19% to 3075 yuan/500KG, and the price of the JD10 contract decreased by 1.42% to 2982 yuan/500KG [14]. - Related Indicators: The egg - feed ratio increased by 7.95% to 2.85, and the breeding profit increased by 135.13% to 3.20 yuan/feather [14]. Pigs - Futures Market: On September 22, 2025, the price of LH2511 decreased by 0.23% to 12795 yuan/ton, and the price of LH2601 decreased by 0.04% to 13345 yuan/ton [17]. - Spot Market: The spot price in Henan decreased by 200 yuan/ton to 12700 yuan/ton, and the spot price in Shandong decreased by 50 yuan/ton to 12850 yuan/ton [17]. - Related Indicators: The sample slaughterhouse daily volume decreased by 0.24% to 153248, and the self - breeding profit per week decreased by 245.13% to - 24 yuan/head [17].