软商品日报-20251010

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Sugar: Domestic sugar prices are supported by potential production cuts in Guangdong and Guangxi due to typhoons, but are limited by abundant international supply from Brazil and global oversupply expectations. In the short term, sugar prices are expected to remain range - bound [3]. - Cotton: Short - term cotton price decline may slow down as seed cotton purchase prices rise slightly, but weak downstream demand, insufficient market confidence, and new cotton supply pressure will bring hedging pressure on cotton prices [15]. - Apple: Continuous rainy weather in apple - producing areas has affected the quality and supply schedule. Good - quality apples' price increases will boost apple futures prices in the near term, with near - month contracts showing stronger trends and long - term prices being more volatile [19]. - Jujube: With new - season jujubes about to be harvested, high inventory of old jujubes and limited orders from inland merchants may lead to downward pressure on jujube prices [28]. 3. Summary by Commodity Sugar - Price and Spread: On October 10, 2025, SR01 closed at 5496 yuan/ton with a daily decline of 0.58% and a weekly increase of 0.20%. Price spreads such as SR01 - 05 were also provided [4]. - Basis: On October 9, 2025, the basis of Nanning - SR01 was 272 yuan/ton, with a daily decline of 15 yuan/ton and a weekly decline of 11 yuan/ton [10]. - Import Price: On October 10, 2025, the quota - free import price of Brazilian sugar was 4482 yuan/ton, with a daily increase of 28 yuan/ton and a weekly increase of 190 yuan/ton [13]. Cotton - Futures Price: On the reporting date, cotton 01 closed at 13325 yuan/ton, up 30 yuan/ton (0.23%); cotton yarn 01 closed at 19375 yuan/ton, unchanged [16]. - Spread: The cotton basis was 1432 yuan/ton, down 12 yuan/ton; the flower - yarn spread was 6060 yuan/ton, down 120 yuan/ton [17]. Apple - Futures and Spot Price: On October 10, 2025, AP01 closed at 8744 yuan/ton, up 1.29% daily and 3.53% weekly. The price of Qixia first - and second - grade 80 apples was 3.8 yuan/jin, unchanged [20]. - Spread and Basis: AP01 - 05 was 111 yuan/ton, down 39.67% daily and up 27.59% weekly; the main - contract basis was - 91 yuan/ton, down 495.65% daily and 135.55% weekly [20]. Jujube - Futures Spread and Inventory: The report shows historical trends of jujube futures spreads (01 - 05, 05 - 09, 09 - 01) and the sum of jujube warehouse receipts and effective forecasts [29][31]. - Price Trends: It also presents the price trends of Xinjiang jujube main - producing areas and main - sales areas [32].