《农产品》日报-20260122

Report Industry Investment Ratings - No investment ratings for the industries are provided in the reports [1][2][3][4][6][10][15][17][19][20] Core Views Oils and Fats - Palm oil: The Malaysian palm oil market has support from production decline, export growth, and tariff cuts, with an expected upward movement to the 4,200 - 4,250 ringgit range. In China, it may rise to 8,900 - 9,000 yuan. Watch for a breakthrough above 9,000 yuan [1]. - Soybean oil: Brazilian soybean harvest and bearish US fundamentals may lead to a stall or correction in CBOT soybean oil. In China, supply is sufficient before the Spring Festival, with a mixed outlook due to limited imports and a traditional off - season [1]. - Rapeseed oil: The market anticipates a positive result from the March 9th anti - dumping ruling. It may show a narrow - range oscillation despite the strength of palm oil [1]. Cotton - ICE cotton futures are in a low - level oscillation. In China, short - term supply pressure exists, but cotton enterprises are more willing to hold prices. Cotton prices may continue to adjust, with support at 14,400 - 14,500 yuan [2]. Sugar - ICE raw sugar is expected to oscillate between 14 - 15 cents. In China, the spot market is in the late stage of stocking, with lower - than - expected consumption. Sugar prices may remain weak and oscillate at a low level [3]. Red Dates - The Spring Festival stocking season is ending, with no significant consumption boost. The market is reducing production capacity, and prices may oscillate in the bottom range [4]. Apples - Supported by low inventory and good fruit rates, the market has slightly improved, but overall sales are limited. Cold - storage de - stocking is slow, and ordinary apples face inventory pressure. After the festival, the scale and structure of cold - storage apples should be monitored [6][10]. Corn - In Northeast China, prices are stable due to low - inventory restocking and policy supply. In North China, prices may weaken if pre - holiday arrivals remain high. Overall, corn prices will oscillate, and attention should be paid to farmers' selling attitudes and policy supply [15]. Pigs - Pig prices are suppressed by demand. As the pre - holiday selling period shortens, supply pressure will increase. The market is expected to oscillate at the bottom [17]. Meal - US soybean prices are affected by macro factors and high - level supply. In China, the supply is abundant, but the first - quarter arrival is expected to be low. Meal prices may oscillate, with support at around 2,700 yuan [19]. Eggs - The decline in laying - hen inventory has slowed. Market inventory pressure has eased, but supply pressure still exists. Futures prices are expected to oscillate within a range [20]. Summary by Related Categories Oils and Fats - Price Changes: On January 21, soybean oil spot price in Jiangsu decreased by 0.12%, while the futures price of Y2605 increased by 0.15%. Palm oil spot price in Guangdong rose by 0.91%, and the futures price of P2605 increased by 0.96%. Rapeseed oil spot price in Jiangsu remained unchanged, and the futures price of OI605 decreased by 0.01% [1]. - Spread Changes: Soybean oil 05 - 09 spread decreased by 22.58%, palm oil 05 - 09 spread increased by 18.75%, and rapeseed oil 05 - 09 spread increased by 133.33% [1]. Cotton - Futures Market: On January 22, the price of cotton 2605 increased by 0.07% to 14,535 yuan/ton, and the price of cotton 2609 increased by 0.03% to 14,705 yuan/ton. ICE cotton decreased by 0.42% to 64.35 cents/pound [2]. - Spot Market: Xinjiang 3128B arrival price decreased by 0.21% to 15,525 yuan/ton, and CC Index 3128B decreased by 0.23% to 15,819 yuan/ton [2]. - Industry Situation: Industrial inventory increased by 1.5% to 86.10 million tons, and imports increased by 49.5% to 17.79 million tons [2]. Sugar - Futures Market: On January 22, the price of sugar 2605 decreased by 0.75% to 5,144 yuan/ton, and the price of sugar 2609 decreased by 0.75% to 5,161 yuan/ton. ICE raw sugar decreased by 1.73% to 14.73 cents/pound [3]. - Spot Market: Nanning spot price decreased by 0.37% to 5,320 yuan/ton, and Kunming spot price remained unchanged at 5,195 yuan/ton [3]. - Industry Situation: National sugar production decreased by 16.43% to 368 million tons, and sales decreased by 37.18% to 157 million tons [3]. Red Dates - Futures: On January 22, the price of red dates 2605 increased by 0.46% to 8,740 yuan/ton, and the price of red dates 2607 increased by 0.46% to 8,820 yuan/ton [4]. - Spot: Cangzhou's special - grade red date price decreased by 0.75% to 9,260 yuan/ton, and the first - grade price remained unchanged at 8,000 yuan/ton [4]. Apples - Futures: On January 22, the price of apple 2605 increased by 0.50% to 9,418 yuan/ton, and the price of apple 2610 increased by 0.47% to 8,257 yuan/ton [6]. - Market: Arrivals at major fruit wholesale markets decreased significantly, and national cold - storage inventory decreased by 2.25% to 704.66 million tons [6]. Corn - Corn: On January 22, the price of corn 2603 increased by 0.13% to 2,283 yuan/ton. The number of remaining vehicles at Shandong deep - processing plants increased by 462.24% to 1,102 [15]. - Corn Starch: The price of corn starch 2603 increased by 0.04% to 2,551 yuan/ton, and Shandong starch profit increased by 177.78% to 14 yuan [15]. Pigs - Futures: On January 22, the price of the main pig contract decreased by 9.44% to 1,630 yuan/ton, and the price of pig 2605 decreased by 0.63% to 11,820 yuan/ton [17]. - Spot: Pig prices in various regions decreased, with Henan down 250 yuan/ton to 13,100 yuan/ton [17]. - Industry Indicators: Daily slaughter decreased by 3.82% to 211,996, and self - breeding profit increased by 164.04% to 7 yuan/head [17]. Meal - Soybean Meal: On January 22, the price of Jiangsu soybean meal decreased by 0.65% to 3,080 yuan/ton, and the price of M2605 decreased by 0.40% to 2,725 yuan/ton [19]. - Rapeseed Meal: The price of Jiangsu rapeseed meal increased by 0.43% to 2,340 yuan/ton, and the price of RM2605 decreased by 0.04% to 2,228 yuan/ton [19]. - Soybean: The price of Harbin soybean remained unchanged at 4,100 yuan/ton, and the price of the main soybean contract decreased by 0.60% to 4,312 yuan/ton [19]. Eggs - Futures: On January 22, the price of the egg 03 contract increased by 0.26% to 3,035 yuan/500KG, and the price of the egg 04 contract increased by 0.51% to 3,327 yuan/500KG [20]. - Spot: The egg - producing area price remained unchanged at 3.61 yuan/jin, and the egg - chicken fry price increased by 3.45% to 3.00 yuan/feather [20]. - Industry: The production - link inventory remained at 0.39 days, and the circulation - link inventory increased by 11.11% to 0.5 days [20].