玉米系数据日报-20251106

Group 1: Report General Information - The report is titled "Corn System Data Daily" and is from the Agricultural Products Research Center of ITC Futures Research Institute, written by Huang Xianglan on November 6, 2025 [3][4] Group 2: Market Data Summary Spot Market - Corn spot prices in various regions show different trends. For example, the price in Henan - Zhengzhou increased by 20 yuan to 2220 yuan, while the price in Jilin - Changchun decreased by 10 yuan to 2060 yuan. Corn starch spot prices in Jilin remained at 2550 yuan, and wheat spot prices in Anhui remained at 2517 yuan [5] Futures Market - The closing price of the corn main contract was 2115 yuan, down 5 yuan; the closing price of the corn starch main contract was 2420 yuan, up 8 yuan. The closing price of US corn was 430.75 cents per bushel, with an estimated profit of 96.03 yuan per ton for imported US corn [5] Spread and Inventory Data - The spread between starch and corn (main continuous) was 305, and the spread between starch and corn (Jilin spot average) was 490. North Port corn inventory was 852 thousand tons, and Guangdong Port's domestic and foreign trade corn inventories were 193 thousand tons and 194 thousand tons respectively. Deep - processing corn inventories in the Northeast and North China were 1.926 million tons and 685 thousand tons respectively [5] Group 3: Supply and Demand Analysis Supply - Northeast production areas face concentrated supply pressure, and there is also pressure to store poor - quality damp grain in North China. The 2025/2026 planting cost continues to decline, the sown area is stable or slightly decreasing, the yield per unit is good, and there is an overall expectation of a bumper harvest. Imported grain supply is shrinking due to policy restrictions [5] Demand - In the short - term, livestock and poultry are expected to maintain high inventory, supporting feed demand. However, current breeding profits are in the red, and national policies may control pig inventory and weight, which may affect long - term supply. Feed enterprises have a rigid demand for replenishing inventory, and deep - processing enterprises have seasonal inventory - building needs, but they tend to lower prices for low - quality grain [5] Group 4: Inventory Situation - Due to good shipping demand, the inventory accumulation speed at North Ports is slow, and the corn inventory at South Ports has rebounded from a low level. With the addition of new - season corn, ports are expected to be in an inventory - accumulation stage. Feed enterprise inventories are at a low level, and deep - processing corn inventories are seasonally accumulating [5] Group 5: Market Outlook - In the short - term, North Port prices are relatively firm, but both futures and spot prices will face selling pressure tests later. The market is expected to show a volatile bottom - building trend. Attention should be paid to the rhythm of traders' grain purchases and policy changes [6]