《农产品》日报-20260123

Report Industry Investment Ratings No information provided regarding industry investment ratings in the reports. 2. Core Views of the Reports - Oils and Fats: Domestic market is in the final stage of Spring Festival stocking, boosting trading sentiment. However, due to the economic environment and slow sales, the increase in soybean oil prices is limited. Palm oil is facing resistance, and rapeseed oil's 05 contract has significant upward resistance [1]. - Cotton: Short - term cotton prices have stabilized and rebounded slightly. Although there is short - term supply pressure, the de - stocking rhythm of cotton enterprises has accelerated, and there is support from downstream demand, so the price is expected to fluctuate strongly [2]. - Sugar: International sugar prices are expected to remain in a low - level shock, waiting for the northern hemisphere's production forecast difference. Domestic sugar prices are expected to remain in a low - level shock with a weakening trend due to the end of the stocking season and unmet consumption expectations [4]. - Apples: Supported by low inventory and low good - fruit rate, the market has seen a slight rebound. After the Spring Festival, attention should be paid to the scale and structure of cold - storage apples [5]. - Red Dates: The market focus has shifted to peak - season consumption. The reduction in new supply supports spot prices, but with no obvious positive news on the demand side, the price is expected to fluctuate at the bottom [7]. - Corn and Corn Starch: In the short term, corn prices will fluctuate strongly due to pre - festival stocking and market sentiment, but the upward space is limited by policy intervention. Corn starch shows a certain upward trend [9]. - Pigs: Spot prices have strengthened again, but there is expected to be an increase in supply pressure before the festival. The market is expected to maintain a bottom - range shock [10]. - Eggs: The decline in the laying - hen inventory has slowed down, and the market's overall shipping pressure has eased. Near - month futures prices are expected to fluctuate within a range [13]. - Meals: The soybean price is supported but lacks a continuous upward drive. The domestic spot market is loose, but the decline in the soybean meal inventory has started, and the price is expected to fluctuate [14]. 3. Summary by Related Catalogs Oils and Fats - Price Changes: On January 22, the spot price of soybean oil in Jiangsu was 8600 yuan/ton, up 0.58% from the previous day; the futures price of Y2605 was 8084 yuan/ton, up 0.50%. The spot price of palm oil in Guangdong (24 - degree) was 8970 yuan/ton, up 1.01%; the futures price of P2605 was 8944 yuan/ton, up 1.27%. The spot price of rapeseed oil in Jiangsu (Grade 3) was 9906 yuan/ton, up 0.61%; the futures price of OI605 was 9002 yuan/ton, up 0.61% [1]. - Spreads: The basis of Y2605 was 516 yuan/ton; the basis of P2605 was 26 yuan/ton; the basis of OI605 was 964 yuan/ton. The soybean - palm oil spot spread was - 370 yuan/ton [1]. Cotton - Futures Market: On January 23, the price of cotton 2605 was 14730 yuan/ton, up 1.34%; the price of cotton 2609 was 14885 yuan/ton, up 1.22%. The price of ICE US cotton was 64.30 cents/pound, down 0.08% [2]. - Spot Market: The Xinjiang arrival price of 3128B was 15223 yuan/ton, up 0.18%; the CC Index of 3128B was 15839 yuan/ton, up 0.13% [2]. - Industry Situation: Industrial inventory increased by 1.5%, imports increased by 49.5%, and the inventory days of yarn and grey cloth changed [2]. Sugar - Futures Market: On January 23, the price of sugar 2605 was 5158 yuan/ton, up 0.27%; the price of sugar 2609 was 5178 yuan/ton, up 0.33%. The price of ICE raw sugar was 14.77 cents/pound, up 0.27% [4]. - Spot Market: The price in Nanning was 5310 yuan/ton, down 0.19%; the price in Kunming was 5160 yuan/ton, down 0.67% [4]. - Industry Situation: National sugar production decreased by 16.43%, and sales decreased by 37.18% [4]. Apples - Futures Market: On January 23, the price of apple 2605 was 9489 yuan/ton, up 0.75%; the price of apple 2610 was 8292 yuan/ton, up 0.42% [5]. - Spot Market: The arrival volume of some fruit wholesale markets increased, and the national cold - storage inventory decreased by 3.11% [5]. Red Dates - Futures Market: On January 23, the price of red dates 2605 was 8745 yuan/ton, up 0.06%; the price of red dates 2607 was 8840 yuan/ton, up 0.23%; the price of red dates 2609 was 9000 yuan/ton, up 0.28% [7]. - Spot Market: The spot prices in Cangzhou remained unchanged [7]. Corn and Corn Starch - Corn: On January 23, the price of corn 2603 was 2295 yuan/ton, up 0.53%. The Pingcang price in Jinzhou Port was 2350 yuan/ton, up 0.21% [9]. - Corn Starch: The price of corn starch 2603 was 2569 yuan/ton, up 0.71%. The average price of corn starch was 2737 yuan/ton, unchanged [9]. Pigs - Futures Market: On January 23, the price of live pigs 2605 was 11895 yuan/ton, up 0.63%; the price of live pigs 2603 was 11600 yuan/ton, up 1.13% [10]. - Spot Market: Spot prices in some regions changed, and the slaughter volume increased by 0.28% [10]. Eggs - Futures Market: On January 23, the price of egg 03 contract was 3095 yuan/500KG, up 1.98%; the price of egg 04 contract was 3380 yuan/500KG, up 1.59% [13]. - Spot Market: The egg - producing area price was 3.67 yuan/jin, up 1.71% [13]. Meals - Soybean Meal: The spot price in Jiangsu was 3080 yuan/ton, unchanged; the futures price of M2605 was 2768 yuan/ton, up 1.58% [14]. - Rapeseed Meal: The spot price in Jiangsu was 2520 yuan/ton, up 7.69%; the futures price of RM2605 was 2250 yuan/ton, up 0.99% [14]. - Soybeans: The spot price of Harbin soybeans was 4100 yuan/ton, unchanged; the futures price of the soybean - one main contract was 4327 yuan/ton, up 0.35% [14].