菜粕下挫，白糖反抽

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The report analyzes the trends of various agricultural products. Some products like rapeseed meal are facing downward pressure due to potential supply increases, while others such as sugar and corn are experiencing rebounds influenced by factors like weather and inventory changes. Each product's market situation is detailed along with corresponding trading strategies [1][2][4]. 3. Summary by Variety Rapeseed Meal - Continued to decline; impacted by Argentina's cancellation of export tax and potential improvement in China - Canada trade relations, leading to increased supply expectations. Also, high domestic soybean crushing and rising soybean meal inventory added pressure [2]. - The main 2601 contract fell significantly, below the moving - average system, hitting a 2 - month low. The strategy is to short with a light position, with support at 2377 and resistance at 2450 [2][3]. Sugar - The main 2601 contract rebounded significantly, driven by short - covering and the rebound of the overseas market. The approaching typhoon in the south provided a weather - related price - boosting factor [4]. - The contract rebounded from a low level, standing above the short - term moving average. The strategy is to close short positions, with support at 5440 and resistance at 5530 [4]. Soybean Oil - After a sharp decline, it slightly rebounded, but the downward trend remained. Argentina's tax cut on soybean products increased international competition, and domestic supply was abundant [6]. - The main 2601 contract fluctuated far below the moving - average system. The strategy is to short with a light position, with support at 8018 and resistance at 8150 [6]. Palm Oil - Rebounded from a low level, supported by improved supply - demand in Malaysia (production down 8% and exports up 8 - 9% in the first 20 days of September). Domestic trading volume increased [8]. - Although it rebounded slightly, it was still below the moving - average system. The strategy is to hold short positions, with support at 9000 and resistance at 9150 [8]. Corn - Continued to rebound from a low level. Despite expected new supply, port inventory decline and price increases in North China supported the price [10]. - The main 2511 contract rebounded, with short - covering. The strategy is to close short positions, with support at 2150 and resistance at 2170 [10]. Eggs - Continued to decline with high supply pressure. High laying - hen inventory and a large amount of cold - storage eggs to be released in November led to weak demand after the holiday [13]. - The main 2511 contract fell below the 20 - day moving average. The strategy is to short with a light position, with support at 3030 and resistance at 3090 [13]. Pigs - Rebounded from a low level, but the downward trend remained. High supply due to fattening and disease in some areas was countered by typhoon - affected supply in Guangdong and pre - holiday demand [14][16]. - The main 2511 contract rebounded but was still under moving - average pressure. The strategy is to hold short positions, with support at 12645 and resistance at 12800 [16]. Cotton - Fluctuated narrowly at a low level, with the downward trend unchanged. New cotton was about to be listed in large quantities, and downstream demand was weak [17]. - The main 2601 contract fluctuated with some short - covering. The strategy is to short with a light position, with support at 13500 and resistance at 13635 [19]. Apples - Oscillated upwards. With the end of early - Fuji trading, late - Fuji procurement for the double - festival was active, and cold - storage inventory decreased [20]. - The main 2601 contract oscillated upwards above the moving - average system. The strategy is to go long with a light position, with support at 8290 and resistance at 8428 [20]. Red Dates - The rebound was blocked. There was a game over new jujube production, quality, and opening prices. Market expectations of a new - jujube harvest reduction coexisted with slow pre - holiday procurement [22]. - The main 2601 contract first rose then fell. The strategy is to close long positions and trade short - term, with support at 10715 and resistance at 10900 [22].