《农产品》日报-20251020

Report Industry Investment Ratings No industry investment ratings are provided in the reports. 2. Core Views of the Reports Oils and Fats - Palm oil: Malaysian BMD crude palm oil futures showed a rebound after a decline. Dalian palm oil futures are expected to break through upwards following the Malaysian palm oil trend and have room to strengthen further [1]. - Soybean oil: Sino - US trade relations may improve, but domestic soybean oil has a pattern of narrow - range shock adjustment due to factors such as sufficient supply and potential release of reserve soybeans [1]. Corn and Corn Starch - Corn: Currently in the concentrated listing period, the futures market will maintain a weak pattern under the pressure of short - term supply [2]. Sugar - The raw sugar price has limited rebound momentum due to supply expectations. The sugar market is expected to maintain a weak and volatile pattern [6][7]. Meal and Soybeans - The supply of domestic soybeans and soybean meal is sufficient. The spot price is expected to remain weak this year, but the downward space is limited. There may be an opportunity for the 1 - 5 positive spread [9]. Cotton - The short - term cotton price will fluctuate within a range, with cost support at low levels and pressure from hedging at higher levels [12]. Live Pigs - In the short - term, the pig price has stabilized and rebounded, but in the medium - to long - term, the supply pressure will continue to be released, and the pig price is not optimistic. The spot price is expected to face pressure until the first half of next year [15]. Eggs - The egg price is expected to rise slightly this week and then stabilize, but it still faces overall pressure due to sufficient supply [18]. 3. Summaries According to Relevant Catalogs Oils and Fats - Price Changes: On October 17, the price of first - grade soybean oil in Jiangsu increased by 0.47% to 8,590 yuan/ton; the price of 24 - degree palm oil in Guangdong remained unchanged at 9,250 yuan/ton; the price of rapeseed oil decreased by 0.49% [1]. - Market Trends: Malaysian palm oil futures showed a rebound, while domestic soybean oil was in a narrow - range adjustment [1]. Corn and Corn Starch - Price Changes: The price of corn 2601 decreased by 0.89% to 2,117 yuan/ton; the price of corn starch 2511 decreased by 0.08% to 2,374 yuan/ton [2]. - Market Conditions: New - season corn is in the concentrated listing period, with weak prices due to supply pressure. Demand is cautious currently, but there may be an increase in the future [2]. Sugar - Price Changes: The price of sugar 2601 increased by 0.07% to 5,412 yuan/ton; the ICE raw sugar主力 decreased by 2.02% to 15.53 cents/pound [6]. - Market Conditions: The supply in Brazil is increasing, and the raw sugar price has limited rebound momentum. The domestic sugar market has a neutral - weak sales situation [6][7]. Meal and Soybeans - Price Changes: The price of soybean meal M2601 decreased by 1.34% to 2,868 yuan/ton; the price of Canadian canola meal RM2601 decreased by 2.45% to 2,306 yuan/ton [9]. - Market Conditions: The supply of domestic soybeans is sufficient, and the price of soybean meal is expected to remain weak [9]. Cotton - Price Changes: The price of cotton 2605 increased by 0.11% to 13,390 yuan/ton; the price of ICE US cotton主力 increased by 0.80% to 64.29 cents/pound [12]. - Market Conditions: The acquisition price of Xinjiang machine - picked seed cotton is firm. The short - term cotton price will fluctuate within a range [12]. Live Pigs - Price Changes: The price of live pig 2511 decreased by 1.03% to 11,050 yuan/ton; the price of live pig 2601 decreased by 1.97% to 11,670 yuan/ton [15]. - Market Conditions: Short - term price rebound, but long - term supply pressure persists, and the price is not optimistic [15]. Eggs - Price Changes: The price of the egg 11 - contract decreased by 0.46% to 2,805 yuan/500KG; the price of the egg 01 - contract increased by 0.13% to 3,179 yuan/500KG [18]. - Market Conditions: Sufficient egg supply, but improved demand may drive the price up slightly, with overall pressure [18].