广发期货《农产品》日报-20251104

Group 1: Report Industry Investment Ratings - No relevant content found Group 2: Core Views of the Report Pig Industry - Short - term pig prices may be supported. The current market has entered a range - bound pattern, and the 3 - 7 inverse spread can continue to be held [2] Oil and Fat Industry - Palm oil may gradually stop falling and stabilize around 4000 ringgit. US soybean oil fundamentals are currently bearish, but cost - side support exists. Domestic soybean oil supply is sufficient, and the market is in a multi - empty coexistence situation. Dalian palm oil futures are in a downward trend, and soybean oil may experience a rebound after a possible decline [5] Corn Industry - The corn market is currently in a low - level oscillation, with selling pressure limiting the upward movement. In the medium - to - long - term, it will be in a tight - balance pattern with policy support [6] Meal Industry - Domestic soybean meal is expected to show a strong upward trend, and rapeseed meal prices have risen significantly [8] Cotton Industry - Short - term cotton prices may oscillate within a range [10] Sugar Industry - International raw sugar prices are in a weak - oscillation trend, and domestic sugar prices are relatively resistant to decline, maintaining a low - level oscillation [12][13] Egg Industry - Short - term egg prices may be in a situation where they are difficult to rise or fall, and are expected to gradually transition to a slow - rising trend, with prices oscillating in a wide range at the bottom [15] Group 3: Summary by Related Catalogs Pig Industry - Futures Indicators: The main contract basis decreased by 32.12%, and the positions of the main contract increased by 7.26%. The prices of "Live Pig 2605" and "Live Pig 2601" decreased by 0.80% and 0.68% respectively [2] - Spot Prices: Spot prices in various regions decreased, with the largest decline in Hunan at 300 yuan/ton [2] - Spot Indicators: The daily slaughter volume of sample points increased by 0.73%, the weekly price of piglets decreased by 23.08%, and the self - breeding and purchased - piglet breeding profits increased by 51.89% and 37.83% respectively [2] Oil and Fat Industry - Palm Oil: The current price in Guangdong decreased by 1.15%, the futures price of "P2601" decreased by 1.14%, and the basis remained unchanged. The import cost decreased by 1.24%, and the import profit increased by 2.97% [5] - Soybean Oil: The current price in Jiangsu decreased by 0.36%, the futures price of "Y2601" decreased by 0.22%, and the basis decreased by 4.41% [5] - Rapeseed Oil: The current price in Jiangsu increased by 0.51%, the futures price of "OI601" increased by 0.51%, and the basis increased by 0.61% [5] Corn Industry - Corn: The futures price of "Corn 2601" increased by 0.52%, the Pingcang price in Jinzhou Port increased by 0.94%, and the 1 - 5 spread decreased by 6.19% [6] - Corn Starch: The futures price of "Corn Starch 2601" increased by 0.53%, the basis decreased by 18.57%, and the 1 - 5 spread increased by 2.78% [6] Meal Industry - Soybean Meal: The current price in Jiangsu increased by 0.66%, the futures price of "M2601" increased by 0.17%, and the basis increased by 1500.00%. The import profit of US Gulf soybeans increased by 3.8%, while that of Brazilian soybeans decreased by 23.8% [8] - Rapeseed Meal: The current price in Jiangsu increased by 2.02%, the futures price of "RM2601" increased by 4.31%, and the basis decreased by 64.63%. The import profit of Canadian rapeseed increased by 32.60% [8] Cotton Industry - Futures Market: The futures price of "Cotton 2605" increased by 0.07%, the price of ICE US cotton increased by 0.20%, and the 5 - 1 spread increased by 50.00% [10] - Spot Market: The Xinjiang arrival price of "3128B" decreased by 0.12%, and the CC Index of "3128B" decreased by 0.01% [10] - Industry Situation: Commercial inventory increased by 68.4%, industrial inventory decreased by 4.3%, and imports increased by 42.9% [10] Sugar Industry - Futures Market: The futures price of "Sugar 2601" increased by 0.29%, the price of ICE raw sugar increased by 1.80%, and the 1 - 5 spread decreased by 5.71% [12] - Spot Market: The Nanning price remained unchanged, and the Kunming price decreased by 0.26%. The basis in Nanning and Kunming decreased by 5.93% and 11.78% respectively [12] - Industry Situation: National sugar production increased by 12.03%, sales increased by 9.17%, and industrial inventory decreased by 41.20% [12] Egg Industry - Futures Market: The price of the "Egg 12 Contract" increased by 0.38%, and the price of the "Egg 01 Contract" increased by 0.87% [15] - Spot Market: The egg - producing area price decreased by 2.15%, and the basis decreased by 37.13% [15] - Industry Indicators: The price of egg - laying chicks increased by 5.66%, the price of culled chickens decreased by 4.20%, and the breeding profit increased by 6.36% [15]