Report Summary 1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints - The price of the main contract of Zhengzhou jujube futures rose this week, with a weekly increase of about 3.0%. The new - season jujubes in the main producing areas are growing better than last year, and the harvest time is expected to be about one week earlier. Attention should be paid to the purchase price of new jujubes. The physical inventory of 36 sample points decreased slightly this week, with a month - on - month decrease of 0.39% and a year - on - year increase of 93.89%. During the double festivals, the arrival of goods in the sales area was small, and the number of customers for inspection and purchase was average [9][10][14] - It is recommended to wait and see in the short term for the Zhengzhou jujube 2601 contract [9] 3. Summary by Directory 3.1 Weekly Summary - Strategy suggestion: Wait and see in the short term for the Zhengzhou jujube 2601 contract [9] - Future trading tips: Pay attention to the spot price and consumer side - Market review: The price of the main contract of Zhengzhou jujube rose this week, with a weekly increase of about 3.0% - Market outlook: The new - season jujubes in the main producing areas are growing better than last year, and the harvest time is expected to be about one week earlier. The physical inventory of 36 sample points decreased slightly this week, with a month - on - month decrease of 0.39% and a year - on - year increase of 93.89%. During the double festivals, the arrival of goods in the sales area was small, and the number of customers for inspection and purchase was average [10] 3.2 Futures and Spot Market - Futures price: The price of the Zhengzhou jujube 2601 contract rose this week, with a weekly increase of about 3.0% [14] - Futures positions: As of this week, the net position of the top 20 in jujube futures was - 1908 lots [15] - Futures warehouse receipts: As of this week, the number of Zhengzhou jujube warehouse receipts was 0 [20] - Futures spreads: As of this week, the spread between the Zhengzhou Commodity Exchange jujube futures 2601 contract and the 2605 contract was - 70 yuan/ton [23] - Basis: As of this week, the basis between the Hebei grey jujube spot price and the main contract of jujube futures was - 635 yuan/ton [27] - Purchase price of bulk jujubes in the main producing areas: As of October 10, 2025, the bulk jujube price in Aksu was 4.80 yuan/kg, in Alar was 5.2 yuan/kg, and in Kashgar was 6.0 yuan/kg [30] - First - grade jujube spot price: As of October 10, 2025, the wholesale price of first - grade grey jujubes in Cangzhou, Hebei and Henan was 4.75 yuan/jin [34] - Special - grade jujube spot price: As of October 10, 2025, the spot price of special - grade grey jujubes in Cangzhou, Hebei was 10.51 yuan/kg, and the wholesale price in Henan was 10.5 yuan/kg [38] 3.3 Industry Chain - Supply side - Inventory: As of October 9, 2025, the physical inventory of 36 sample points was 9167 tons, a decrease of 36 tons from last week, a month - on - month decrease of 0.39% and a year - on - year increase of 93.89% [42] - Supply side - Yield: In the 2024/25 production season, the jujube yield increased to 606.9 million tons [45] - Demand side - Export: In August 2025, China's jujube export volume was 2364893 kg, with an export value of 39713257 yuan, an average export price of 16792.84 yuan/ton. The export volume increased by 32.55% month - on - month and decreased by 25.20% year - on - year. From January to August 2025, the cumulative export of jujubes was 21264731 kg, a cumulative year - on - year increase of 7.76% [49] - Demand side - BOCE trading: This week, the order volume of the BOCE Xinjiang jujube good brand had a small amount of transactions [54] 3.4 Option Market and Futures - Stock Correlation - Option market: Implied volatility of at - the - money jujube options this week is presented in the report [55] - Stock market: The price - to - earnings ratio of Hao Xiang Ni is shown in the report [57]
红枣市场周报-20251010
Rui Da Qi Huo·2025-10-10 09:11