《农产品》日报-20251226

Group 1: Report Investment Ratings - No information provided on report industry investment ratings. Group 2: Core Views of Reports Oils and Fats - Palm oil futures may continue to rise but face pressure at the end of the month and during the New Year holiday. Domestic palm oil futures may weaken again. US biodiesel policy may boost CBOT soybean oil, and domestic soybean oil fundamentals are positive but high crushing margins may limit price increases. Domestic rapeseed oil basis is strengthening due to positive news and tight supply [1]. Sugar - Global sugar supply is expected to be loose, constraining price rebounds. In China, demand is picking up with the approaching festivals, but ample supply may limit the upside of Zhengzhou sugar futures [2]. Meal - US soybeans are in a bottom - oscillating pattern. In China, the spot meal market is loose, but concerns about customs policies and low expected arrivals in January and February may support soybean meal prices [3]. Cotton - US cotton exports are strong, and it will maintain an oscillating trend. In China, supply pressure is easing, and cotton prices are expected to rise after breaking through key resistance levels [5]. Live Pigs - Spot prices are stable, and seasonal demand is strong. The short - term futures market may show an oscillating and strengthening trend [9]. Corn - The corn market in Northeast and North China is quiet with stable prices. Demand is weak, and the market is in a stalemate. Attention should be paid to selling sentiment and policy releases [13]. Red Dates - The arrival of red dates in markets is lower than in previous years. The recent price rebound depends on consumption. It is recommended to hold short call options [16]. Apples - The apple consumption market is affected by substitutes, and only high - quality apples in Gansu are selling well. It is suggested to exit long positions [17]. Eggs - The egg supply is still relatively loose but is gradually easing. Demand may improve during festivals, and near - month contracts are expected to oscillate at the bottom [19]. Group 3: Summary by Related Catalogs Oils and Fats - Spot Price: Jiangsu first - grade soybean oil is 8350 yuan, Guangdong 24 - degree palm oil is 8490 yuan, and Jiangsu third - grade rapeseed oil is 9680 yuan [1]. - Futures Price: Y2605 soybean oil is 8044 yuan, P2605 palm oil is 8514 yuan, and OI605 rapeseed oil is 9361 yuan [1]. Sugar - Futures Market: Sugar 2601 is 5364 yuan/ton, Sugar 2605 is 5269 yuan/ton, and ICE raw sugar is 15.30 cents/pound [2]. - Spot Market: Nanning sugar is 5340 yuan/ton, and Kunming sugar is 5240 yuan/ton [2]. Meal - Soybean Meal: Spot price in Jiangsu is 3100 yuan, M2605 futures price is 2760 yuan [3]. - Rapeseed Meal: Spot price in Jiangsu is 2430 yuan, RM2605 futures price is 2352 yuan [3]. Cotton - Futures Price: Cotton 2605 is 14255 yuan/ton, and ICE US cotton is 64.20 cents/pound [5]. - Spot Price: Xinjiang arrival price (3128B) is 15086 yuan [5]. Live Pigs - Futures Price: Live pigs 2605 is 11975 yuan/ton, and Live pigs 2603 is 11460 yuan/ton [8]. - Spot Price: Henan is 11800 yuan/ton, Shandong is 11950 yuan/ton [8]. Corn - Corn: Corn 2603 is 2189 yuan/ton, Jinzhou Port FAS price is 2280 yuan/ton [13]. - Corn Starch: Corn starch 2603 is 2484 yuan/ton, Changchun spot is 2570 yuan/ton [13]. Red Dates - Futures Price: Red dates 2605 (main contract) is 8905 yuan/ton [16]. - Spot Price: Cangzhou super - grade is 9560 yuan/ton [16]. Apples - Futures Price: Apple 2605 (main contract) is 9191 yuan/ton [17]. Eggs - Futures Price: Egg 01 contract is 3072 yuan/500KG, Egg 02 contract is 2946 yuan/500KG [19]. - Spot Price: Egg production area price is 2.87 yuan/jin [19].