白糖数据日报-20251023

Group 1: Report Information - Report title: Sugar Data Daily [3] - Date: October 23, 2025 [4] - Analyst: Xie Wei, with futures qualification number F03087820 and investment consulting number Z0019508 [4] Group 2: Sugar Price Data Domestic Spot Prices - In Nanning warehouse, Guangxi, the price is 5800 yuan/ton, down 10 yuan, with a basis of 374 yuan to SR01, up 2 yuan [4] - In Kunming, the price is 5730 yuan/ton, down 10 yuan, with a basis of 404 yuan to SR01, up 2 yuan [4] - In Dali, Yunnan, the price is 5575 yuan/ton, down 25 yuan, with a basis of 289 yuan to SR01, down 13 yuan [4] - In Rizhao, Shandong, the price is 5870 yuan/ton, unchanged, with a basis of 344 yuan to SR01, up 12 yuan [4] Domestic Futures Prices - SR01 is 5426 yuan/ton, down 12 yuan; SR01 - 05 is 43 [4] - SR05 is 5383 yuan/ton, down 13 yuan [4] International Data - The exchange rate of RMB to USD is 7.1416, up 0.0036; ICE raw sugar主力 is 15.24, unchanged [4] - The exchange rate of Brazilian real to RMB is 1.2818, up 0.0212; London white sugar主力 is 573, up 3 [4] - The exchange rate of Indian rupee to RMB is 0.084, down 0.0004; Brent crude oil主力 is 61.66, unchanged [4] Group 3: Core View - Typhoons around the National Day have adversely affected sugarcane harvesting and production in South China, with sugarcane lodging and flooding in the producing areas. Also, there is a seasonal upward momentum for sugar prices during the short - term gap between old and new crops after the festival. In the medium term, the rain - heat conditions in the southern main producing areas are suitable this year, and the sugarcane growth is very good. After the new sugar is launched, the expected rebound space is relatively limited [4] Group 4: Related Charts - Charts show domestic white sugar industrial inventory, Brazilian sugar out - of - quota import profit, Liuzhou - 01 basis, and Zhengzhou sugar 1 - 5 month spread [5][6]