农产品早报-20260327

Group 1: Report Overview - The report is an agricultural products morning report released on March 27, 2026, by the agricultural products team of the research center [1] Group 2: Corn/Starch Price Data - From March 20 to March 26, 2026, the price of corn in Changchun remained at 2230, while the price in other locations had minor fluctuations. The price of starch in Heilongjiang and Weifang remained at 2900 and 3050 respectively. The processing profit of starch increased by 10 [2] Market Analysis - Short - term: The supply of corn is tight, which supports the price, but the increase in policy wheat supply and the increase in corn circulation may suppress the price. For starch, the tight raw material supply supports price increases, but weak downstream consumption may limit the rise [3] - Long - term: For corn, focus on import and domestic auction policies. For starch, focus on downstream consumption rhythm and inventory changes [3] Group 3: Sugar Price Data - From March 20 to March 26, 2026, the spot prices in Liuzhou and Nanning remained unchanged, while the price in Kunming increased by 5. The basis in Liuzhou decreased by 34 [4] Market Analysis - International: The fundamentals are slightly stronger, with India lowering its production estimate and ISO lowering the global surplus estimate for the 25/26 sugar season. Crude oil prices affect raw sugar valuation [5] - Domestic: After the holiday, the market discussed import policies, and the futures market was volatile and strong. The cost of out - of - quota imports was low, but there was hedging pressure on the futures market [5] Group 4: Cotton/Cotton Yarn Price Data - From March 20 to March 26, 2026, the price of 3128 cotton increased by 70. The 32S spinning profit decreased by 74 [6] Market Analysis - The low initial inventory offsets most of the production increase. With the expansion of domestic textile production, good downstream profits, and favorable consumption policies, cotton demand is expected to improve. The decrease in Xinjiang's planting area in the new season makes cotton suitable for long - term investment [6] Group 5: Eggs Price Data - From March 20 to March 26, 2026, the price in Hubei increased by 0.04, and the basis decreased by 208 [8] Market Analysis - The slowdown in chicken culling is likely due to farmers' active delay in culling. The increase in replenishment in January - February and good replenishment sentiment in March - April slow down the capacity reduction process. However, rising feed costs compress profit margins, and attention should be paid to farmers' culling sentiment. Adopt a reverse spread strategy [9] Group 6: Apples Price Data - From March 20 to March 26, 2026, the spot prices in Shandong and Shaanxi remained unchanged. The national inventory decreased by 14, Shandong inventory increased by 32, and Shaanxi inventory decreased by 18 [11][12] Market Analysis - The apple market mainly trades high - quality goods. In the western region, the supply of high - quality goods is limited, and the number of merchants decreased in the second half of the week. In Shandong, the number of merchants looking for high - quality goods increased, and the price of high - quality goods was stable with a slight increase. The sales atmosphere in the sales area was not strong, and there was no obvious backlog in the transit warehouse [12] Group 7: Pigs Price Data - From March 20 to March 26, 2026, the prices in various production areas decreased, and the basis decreased by 5 [12] Market Analysis - The spot price decreased slightly over the weekend, with weak demand and sufficient supply. The reduction of pig production capacity is limited. In the medium - term, there may be a supply - demand mismatch. The market is affected by high supply, policy - driven production reduction, and market sentiment. The futures price has a premium, and attention should be paid to the expected difference [12]