农产品早报-20260119

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - Corn prices are expected to remain strong in the short - term due to limited supply increase and downstream stocking expectations, and long - term focus should be on import and domestic auction policies [2] - Starch prices are expected to be stable with a slight upward trend in the short - term, and long - term focus should be on downstream consumption rhythm and inventory changes [2] - For sugar, international production increase expectations need to be monitored, and in the domestic market, short - term pricing can refer to domestic sugar cost and spot price, while long - term may look for out - of - quota import cost [6] - Cotton demand is expected to improve, and it is suitable for long - term investment [7] - Egg price trends depend on demand and chicken culling data, with different impacts on the second - quarter price [7] - Apple prices are mixed, with good - quality apples stable and lower - quality ones weakening, and the 05 contract should focus on inventory reduction [11] - Pig prices may have short - term fluctuations, and futures price increases depend on further production and inventory reduction, with attention to factors like slaughter rhythm, diseases, and policies [11] Group 3: Summary by Category Corn/Starch - From 2026/01/12 to 2026/01/16, corn base price in Changchun remained at 2160 - 2180, and starch base price in Heilongjiang was 2750. The corn base difference increased by 14, and the starch base difference increased by 10 [1] Sugar - From 2026/01/12 to 2026/01/16, the spot price in Liuzhou remained at 5390. The base difference increased by 22, and the import profit decreased by 112. The number of warehouse receipts decreased by 392 [5] Cotton/Cotton Yarn - From 2026/01/12 to 2026/01/16, the price of 3128 cotton decreased by 100, and the number of warehouse receipts + forecasts increased by 11. The import profit of Vietnamese yarn decreased by 397 [7] Eggs - From 2026/01/12 to 2026/01/16, egg prices in Hebei, Liaoning, Shandong, Henan, and Hubei increased by 0.09, 0.09, 0.10, 0.10, and 0.11 respectively. The base difference increased by 111 [7] Apples - From 2026/01/12 to 2026/01/16, the price of Shandong 80 first - and second - grade apples remained at 8900. The national inventory increased by 266, and the Shaanxi inventory increased by 234 [10][11] Pigs - From 2026/01/12 to 2026/01/16, pig prices in Henan Kaifeng, Hubei Xiangyang, and Jiangsu Nantong increased by 0.10, 0.10, and 0.10 respectively, while the price in Shandong Linyi decreased by 0.05. The base difference increased by 70 [11]