农产品早报-20251114

Group 1: Investment Ratings - No investment ratings provided in the report Group 2: Core Views - Corn prices are likely to oscillate in the short - term due to unstable grain supply and weak downstream consumption, and may rebound after the first peak of grain sales in the long - term [1] - Starch prices are pressured by high inventory in the short - term and the downstream consumption rhythm will be the key factor in the long - term [2] - For sugar, maintain a high - short strategy as the global and domestic supply is loose, but the downward space is limited in the short - term [4] - Cotton is suitable for long - term buying as the new cotton output is down and the external environment has improved [7] - Egg prices may rise if the chicken culling speed accelerates, and currently the price center has moved up slightly [13] - Apple prices will fluctuate in the short - term as the new season output is down and some areas have poor quality [15] - Pig prices will oscillate in the short - term, and the de - capacity and de - inventory path is the key driver [15] Group 3: Corn/Starch Price Data - From 2025/11/07 to 2025/11/13, corn prices in Changchun remained unchanged, increased by 10 in Jinzhou and Shekou, and remained unchanged in Weifang; starch prices in Heilongjiang and Weifang remained unchanged [1] Market Analysis - Short - term: Corn price increase is restricted by weak downstream consumption; starch price is pressured by high inventory [1][2] - Long - term: Corn price may rebound after the first peak of grain sales; starch price depends on downstream consumption [1][2] Group 4: Sugar Price Data - From 2025/11/07 to 2025/11/13, sugar prices in Liuzhou decreased, remained unchanged in Nanning, and decreased in Kunming [3] Market Analysis - Short - term: Zhengzhou sugar is more affected by domestic policies, and domestic sugar cost is the key support [4] - Long - term: If the global sugar market surplus intensifies, domestic sugar cost may be broken through [4] Group 5: Cotton/Cotton Yarn Price Data - From 2025/11/07 to 2025/11/13, cotton prices decreased [5] Market Analysis - New cotton output is down, and the external environment is favorable for textile exports, suitable for long - term buying [7] Group 6: Eggs Price Data - From 2025/11/07 to 2025/11/13, egg prices in Hebei, Liaoning, Shandong, and Henan remained unchanged, and decreased by 0.06 in Hubei [13] Market Analysis - Supply pressure is relieved, demand increases, and prices may rise if the culling speed accelerates [13] Group 7: Apples Price Data - From 2025/11/07 to 2025/11/13, apple prices in Shandong remained unchanged, and national inventory decreased [14][15] Market Analysis - New season output is down and quality is poor in some areas, prices will fluctuate in the short - term [15] Group 8: Pigs Price Data - From 2025/11/07 to 2025/11/13, pig prices in some regions changed slightly, and the basis decreased by 15 [15] Market Analysis - Prices will oscillate in the short - term, and de - capacity and de - inventory are the key drivers [15]