软商品日报：震荡延续-20260305

Group 1: Report Industry Investment Rating - Not provided Group 2: Core Viewpoints of the Report - The release of news about Sino-US contact is beneficial to economic and trade negotiations, and it is estimated that cotton will continue to fluctuate and rise [1] - The sugar market is in a stage of loose supply and demand. It is recommended to adopt a low - buying strategy and pay attention to the trend of raw sugar after the March delivery [3] Group 3: Summary by Related Catalogs Cotton - Bloomberg reported that US Treasury Secretary Bessent and Chinese Vice - Premier He Lifeng are expected to hold talks in Paris at the end of next week to discuss possible business agreements from the meeting of the two leaders, which is beneficial to cotton demand and leads to a stable and strong cotton market today [1] Sugar - As of March 3, 2026, in the 2025/26 sugar - crushing season in India's Maharashtra state, 113 sugar mills have stopped crushing, 97 are still operating (102 less than the same period last year). The cumulative crushed sugarcane is 100.51 million tons (18.179 million tons more than last year), the sugar production is 9.5031 million tons (about 1.7805 million tons more than last year), and the average sugar production rate is 9.45% (0.07% higher than last year) [2] - Affected by factors such as increased sugarcane planting area, abundant rainfall, and improved field management, the single - yield and crushed amount of sugarcane in Guangxi have increased. The estimated crushed amount of sugarcane in Guangxi in the 2025/26 sugar - crushing season is adjusted to 57.5 - 58.5 million tons (2.15 - 2.5 million tons higher than the previous estimate), the sugar production rate is slightly adjusted to 12.3% - 12.4% (0.1% lower than the previous estimate), and the total sugar production is adjusted to 7.1 - 7.22 million tons (220,000 - 300,000 tons higher than the previous estimate) [2]