Report Industry Investment Ratings - Steel: Oscillation [1] - Iron Ore: Oscillation [2][3] - Coking Coal and Coke: Oscillation [4][6] - Thermal Coal: Oscillation with a slightly upward bias in the short - term, long - term supply is expected to be loose [7] Core Views - The steel market is characterized by accelerated inventory reduction and oscillating prices. The fundamentals of building materials have improved, while the contradiction in strip materials lies in high inventory and high production. Future price trends depend on winter storage games and raw material support [1]. - The iron ore market has a weakening demand expectation. With high supply, increasing inventory, and potential seasonal decline in molten iron, the price is likely to oscillate within a range. Attention should be paid to molten iron production and downstream inventory changes [2]. - The coking coal and coke market shows a wait - and - see sentiment with wide - range oscillations. Coking coal supply is tight in the short - term, and the fourth round of coke price increase has been fully implemented. Future trends depend on the recovery of coking coal supply and changes in molten iron production [4][5]. - The thermal coal market has increasing wait - and - see sentiment and stable prices. In the short - term, prices are oscillating with a slightly upward bias due to factors such as insufficient port inventory accumulation and strong non - power demand. In the long - term, the supply is expected to be loose [7]. Summaries by Related Catalogs Steel Market Analysis - Futures and spot: Steel futures contracts oscillated slightly upward. Spot steel prices rose following the futures, with low - price speculation and futures - spot transactions being the main types, and rigid demand being relatively low. The national building materials trading volume was 13360 tons, and the inventory reduction rate increased [1]. - Supply and demand and logic: The production and sales of building materials decreased month - on - month, and inventory continued to decline. Supply was restricted by profits, and the fundamentals improved. The contradiction in strip materials lies in high inventory and high production, which requires production cuts to resolve. Short - term prices will oscillate, and future trends depend on winter storage games and raw material support [1]. Strategy - Unilateral: Oscillation - Others: None [1] Iron Ore Market Analysis - Futures and spot: Iron ore futures prices oscillated slightly upward. The prices of mainstream imported iron ore varieties fluctuated slightly, and traders' enthusiasm for quoting was average. The total trading volume of iron ore at major ports across the country was 75800 tons, a month - on - month decrease of 25.76%. The global ore shipment volume increased significantly this period, while the arrival volume decreased [2]. - Supply and demand and logic: Currently, iron ore supply remains high, and inventory continues to increase. With steel mills' losses and production cuts, and the release of maintenance plans by northern steel mills, there is an expected seasonal decline in molten iron. However, due to the relatively limited arrival volume, the price correction space is insufficient, and it is likely to oscillate within a range. Attention should be paid to molten iron production and downstream inventory changes [2]. Strategy - Unilateral: Oscillation - Others: None [3] Coking Coal and Coke Market Analysis - Futures and spot: The coking coal and coke futures market showed a range - bound upward trend. The customs clearance volume of imported Mongolian coal continued to recover, and the quotation was adjusted dynamically according to the futures. The overall trading volume was mediocre. The fourth round of coke price increase was fully implemented, and coking profits were repaired [4]. - Supply and demand and logic: For coking coal, domestic production increased slightly month - on - month, but the recovery was less than expected. The customs clearance volume of Mongolian coal remained at a high level, but imports decreased slightly this Friday due to a one - day closure of three major ports. The short - term supply and demand are still in a tight pattern. For coke, after the fourth round of price increase, the losses of coking enterprises have eased. Attention should be paid to the production recovery. Molten iron production increased slightly, and steel mills have no new production cut plans, so there is rigid demand support. The strong thermal coal price also supports the coking coal and coke prices. Future trends depend on the recovery of coking coal supply and changes in molten iron production [4][5]. Strategy - Coking coal: Oscillation - Coke: Oscillation - Others: None [6] Thermal Coal Market Analysis - Futures and spot: In the production areas, current coal prices in major production areas have stabilized, and speculative demand has subsided. Downstream enterprises mainly rely on long - term agreements for transportation, and some coal mines maintain a balance between production and sales. Some enterprises have low production due to inspections and have firm quotations. Future attention should be paid to production area prices and port inventory changes. In the short - term, miners remain optimistic. At ports, transactions are mainly based on long - term agreements. Downstream enterprises are highly resistant to high - priced coal, and market coal transactions are relatively cold. Affected by the weakening sentiment of upstream coal prices, downstream wait - and - see sentiment has increased, and there is short - term market pressure. However, the port inventory is still lower than last year, and the arrival of resources is limited, so some traders are still optimistic. In the import market, there is still a certain profit in imported coal, and the price of imported high - calorie coal is firm, so the imported coal market is still active [7]. - Supply and demand and logic: Although there are slight changes in production area prices, with the arrival of the winter heating season, the port inventory accumulation is less than expected, and non - power demand is strong. Short - term prices will oscillate slightly upward. In the long - term, the supply is expected to be loose. Future attention should be paid to peak - season consumption and inventory replenishment [7]. Strategy - Not mentioned in the report

1. Report Industry Investment Rating No information provided in the report. 2. Core Views - On November 17th, equity index futures declined while CGB futures rose; lithium carbonate hit the daily limit up, with precious metals leading the decline [2][9][12]. - For lithium carbonate, the market remains tight in Nov - Dec; potential easing in Dec if Jianxiawo resumes production soon. Long - term demand is positive, and a bullish bias is recommended with buying on dips after corrections [18][19]. - For gold, short - term price is expected to consolidate within a range due to Fed's uncertainty. Long - term, gold price center is expected to shift upward as it hedges against dollar credit risks [25][26][27]. - For silver, short - term price is projected to consolidate within a range, supported by tight overseas spot supply. Long - term, it benefits from dollar credit contraction and global economic recovery [34][35]. 3. Summary by Relevant Catalogs 3.1 China Futures 3.1.1 Overview - Financial futures: IH and IF fell approximately 1%, while TL gained 0.3% [9][12]. - Commodity futures: Top three gainers were lithium carbonate (9.0% rise, 8.9% position increase m - o - m), SCFIS(Europe) (6.7% rise, 2.2% position increase m - o - m), and iron ore (1.8% rise, 0.2% position increase m - o - m). Top three decliners were silver (4.1% drop, 1.1% position decrease m - o - m), gold (3.1% drop, 10.5% position decrease m - o - m), and polysilicon (2.9% drop, 6.2% position decrease m - o - m) [10][11][12]. 3.1.2 Daily Raise - Lithium Carbonate: Rose 9.0% to 95,200 yuan/ton on Nov 17th. Supply is restricted by ore shortage, demand is currently robust, and social inventories are destocking. A bullish bias is recommended with buying on dips [16][17][19]. 3.1.3 Daily Drop - Gold: Fell 3.1% to 929.46 yuan/gram on Nov 17th. Short - term price may consolidate due to Fed's uncertainty, while long - term price center is expected to rise [24][25][27]. - Silver: Fell 4.1% to 11,933 yuan/kilogram on Nov 17th. Short - term price is expected to consolidate with support from tight overseas supply, and long - term it benefits from economic recovery [33][34][35]. 3.2 China News 3.2.1 Macro News - The 22nd issue of Qiushi Journal on November 16 published an important article by Xi Jinping titled "Develop New Quality Productive Forces According to Local Conditions" [39]. - China's Foreign Ministry stated that Premier Li Qiang has no arrangements to meet with Japanese leaders during the G20 summit [39]. 3.2.2 Industry News - CSRC Chairman Wu Qing emphasized efforts to make the capital market more resilient, with more inclusive systems, higher - quality listed companies, more effective regulation, and deeper opening - up [40].

资料来源：同花顺 iFinD，隆众资讯，CCF，国泰君安期货 【现货消息】 短纤：今日短纤期货偏弱震荡，现货方面工厂报价维稳，半光 1.4D 主流报价在 6450~6500 出厂或短送， 成交优惠商谈。随着期货走低，部分期现商低位点价增多。半光 1.4D 主流商谈在 6150~6400 区间。今日工 厂销售十分清淡，截止下午 3:00 附近，平均产销 35%，部分工厂产销：40%、10%、30%、50%、40%、10%、 30%、30%、30%，40%。 瓶片：上游原料期货偏弱震荡，聚酯瓶片工厂部分下调报价 20 元附近。日内聚酯瓶片市场交投气氛清 淡，不同品牌价格高低差距较大。11-1 月订单多成交在 5710-5750 元/吨出厂不等，少量略低 5630-5680 元/吨 出厂附近，少量略高 5760-5830 元/吨出厂不等。 （资料来源：华瑞信息） 2025 年 11 月 18 日 短纤：上游波动放大，短期震荡市 瓶片：上游波动放大，短期震荡市 贺晓勤 投资咨询从业资格号：Z0017709 hexiaoqin024367@gtjas.com 钱嘉寅（联系人） 从业资格号：F03124480 Qianj ...

Report Industry Investment Rating - Not provided in the content Core Viewpoints - On November 17, 2025, the A-share market showed mixed performance with major indices mostly declining, and trading volume decreased. Different futures varieties had varying price movements influenced by factors such as supply - demand, weather, and policy expectations [1][2][3][4][5] Summary by Variety Stock Index Futures - On November 17, the three major A - share indices collectively declined. The Shanghai Composite Index fell 0.46% to 3972.03, the Shenzhen Component Index dropped 0.11% to 13202.00, and the ChiNext Index decreased 0.20% to 3105.20. The trading volume of the two markets was 1910.8 billion yuan, a decrease of 47.3 billion yuan from the previous trading day. The CSI 300 index was weak, closing at 4598.05, a decline of 30.9 [1][2] Coke and Coking Coal - On November 17, the coke weighted index rebounded strongly, closing at 1743.3, up 33.2. The coking coal weighted index fluctuated and closed at 1234.4 yuan, up 15.4. The fourth round of coking price increase was fully implemented this week. Coking profit was still average, and daily production decreased slightly. Coke inventory decreased slightly. Coking coal mine output increased slightly, and total inventory rose slightly [2][3][4] Zhengzhou Sugar - Although US sugar stabilized and rebounded last Friday, the Zhengzhou sugar 2601 contract on November 17 did not follow. Constrained by the lower spot price, long - position liquidation pressured the futures price to decline. The Dutch Cooperative Bank predicted a 2.6 - million - ton surplus in the global sugar industry in the 2025/26 season, which may depress international prices until 2026 [4] Rubber - Thailand's weather warning of possible floods from November 18 - 22 led to short - position liquidation, pushing up the Shanghai rubber futures price on November 17. In the third quarter of 2025, the European replacement tire market sales decreased 0.6% year - on - year to 63.984 million units, and sales in the first three quarters were generally lower than in 2024 [4] Palm Oil - On November 17, palm oil futures fluctuated slightly at a low level. The main contract P2601 closed at 8680, up 0.42%. Shipping survey data showed a significant decrease in Malaysia's palm oil exports from November 1 - 15 compared to the previous month [4][5] Live Hogs - On November 17, the LH2601 main contract closed at 11695 yuan/ton, down 0.68%. The high inventory of breeding sows led to an increase in hog supply from Q4 2025 to early 2026. Demand was weak, and the short - term supply - demand imbalance was difficult to reverse [5] Soybean Meal - Internationally, on November 17, CBOT soybean futures reached the highest level since June 2024 due to improved demand prospects. US soybean export inspection and domestic soybean crushing data were positive. Domestically, the M2601 main contract closed at 3043 yuan/ton, down 1.58%. Short - term supply was sufficient, and the upward momentum of the soybean meal market may weaken [5] Shanghai Copper - Fed officials' hawkish remarks and the need for more economic data to measure the US economy led to a decline in the expectation of a December interest rate cut, weakening copper prices. Supply was tight, and demand in new energy and power grid construction provided support [5] Cotton - On the night of November 17, the main contract of Zhengzhou cotton closed at 13435 yuan/ton, with inventory decreasing by 5 lots. The purchase price of machine - picked cotton in Xinjiang on November 17 was 6.2 - 6.3 yuan/kg. The US cotton harvest was expected to be good due to favorable weather [5] Iron Ore - On November 17, the 2601 main contract of iron ore rose 1.81% to 788.5 yuan. Iron ore shipments and domestic arrivals decreased. Although iron - water production increased, steel mill profits declined, and iron ore prices were expected to fluctuate [5] Asphalt - On November 17, the 2601 main contract of asphalt rose 0.13% to 3032 yuan. Supply and demand were both weak, with supply decreasing and demand affected by cold weather, and prices were expected to fluctuate [5][6] Logs - On November 17, the 2601 log contract had an opening price of 786, a low of 786, a high of 794, and a closing price of 789, with a reduction of 809 lots. Spot prices in Shandong and Jiangsu remained stable. Inventory increased to a 5 - week high, and future price trends depend on multiple factors [6] Steel - On November 17, rb2601 closed at 3097 yuan/ton, and hc2601 closed at 3302 yuan/ton. Steel production cuts did not lower raw material prices, and steel costs remained high. Steel prices were expected to be slightly stronger in the short term but limited by the off - season demand [6] Alumina - On November 17, ao2601 closed at 2817 yuan/ton. Spot prices were close to the cost line, and production cuts were expected due to environmental protection. The trading atmosphere improved, but the futures price was in a low - level oscillation [6] Shanghai Aluminum - On November 17, al2601 closed at 21725 yuan/ton. The market's positive sentiment towards previous macro - policies cooled, and the probability of a December Fed interest rate cut decreased. Supply was stable, and demand was weak in November [6]

2025 年 11 月 18 日 商 品 研 究 工业硅：仓单去化，底部支撑较强 工业硅、多晶硅基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-22 | | --- | --- | --- | --- | --- | --- | --- | | | | Si2601收盘价（元/吨） Si2601成交量（手） | 9,080 | 60 | -210 | 475 | | | | Si2601持仓量（手） | 271,811 251,549 | -21,399 247 | -93,938 -29,954 | 62,223 119,900 | | | 工业硅、多晶硅期货市场 | PS2601收盘价（元/吨） | 52,655 | -1,390 | -1,065 | - | | | | PS2601成交量（手） | 249,766 | -20,841 | 30,980 | - | | | | PS2601持仓量（手） | 136,243 | -8,948 | 10,269 | - | | | | 工业硅：近月合约对连一价差（元/吨） | 15 | 375 | -15 | 15 | | | | ...

Group 1: Report Industry Investment Ratings - No clear industry - wide investment ratings are provided in the report. Group 2: Core Views - The report provides trend forecasts for various commodities in the black series on November 18, 2025. Iron ore and logs are expected to fluctuate repeatedly; rebar, hot - rolled coils, ferrosilicon, and silicomanganese are expected to have a strong - biased oscillation, with ferrosilicon's bias due to continuous production cuts in the main production areas and silicomanganese's due to sector sentiment disturbances; coke and coking coal are expected to have a wide - range oscillation [2]. Group 3: Summaries by Commodity Iron Ore - **Fundamentals**: The previous day's futures price was 788.5 yuan/ton, up 16 yuan (2.07%). Imported ore prices generally rose, while domestic ore prices fell. Some basis and spread values changed [4]. - **Macro and Industry News**: In October, the added value of large - scale industries increased by 4.9% year - on - year, 0.17% month - on - month, and 6.1% from January to October [5]. - **Trend Intensity**: 0 (neutral) [5]. Hot - Rolled Coils - **Fundamentals**: The previous day's HC2601 futures price was 3,302 yuan/ton, up 51 yuan (1.57%). Spot prices in various regions rose. Some basis and spread values changed [8]. - **Macro and Industry News**: According to the November 13th weekly data from Steel Union, in terms of production, rebar decreased by 8.54 tons, hot - rolled coils by 4.5 tons; in terms of total inventory, rebar decreased by 16.37 tons, hot - rolled coils increased by 0.07 tons; in terms of apparent demand, rebar decreased by 2.15 tons, hot - rolled coils by 0.71 tons [9]. - **Trend Intensity**: 1 (strong - biased) [11]. Ferrosilicon and Silicomanganese - **Fundamentals**: Futures prices of ferrosilicon and silicomanganese rose. Spot prices of ferrosilicon and silicomanganese in Inner Mongolia were 5,200 yuan/ton and 5,600 yuan/ton respectively. Some basis, near - far month spread, and cross - variety spread values changed [14]. - **Macro and Industry News**: Ningxia Zhongwei Yuexin overhauled a 25,500kva ferrosilicon furnace, reducing daily output by about 70 tons. As of November 14th, the total manganese ore inventory decreased by 12.05 tons. There were price changes in ferrosilicon and silicomanganese in different regions, and electricity prices in some areas fluctuated. Some companies finalized ferrosilicon procurement prices [14][15][16]. - **Trend Intensity**: 0 (neutral) [17]. Coke and Coking Coal - **Fundamentals**: The previous day's JM2601 coking coal futures price was 1,210 yuan/ton, up 18 yuan (1.5%); J2601 coke futures price was 1,710 yuan/ton, up 40.5 yuan (2.4%). Spot prices remained mostly unchanged. Some basis and spread values changed [18]. - **Macro and Industry News**: The National Development and Reform Commission organized a video conference on energy supply guarantee for the 2025 - 2026 heating season [19]. - **Trend Intensity**: 0 (neutral) [19]. Logs - **Fundamentals**: Futures prices of different contracts remained mostly unchanged. Spot prices of various types of logs in different regions remained stable. Some basis and spread values changed [21]. - **Macro and Industry News**: The General Administration of Customs decided to abolish the announcement on suspending the import of US logs from November 10, 2025 [23]. - **Trend Intensity**: 0 (neutral) [23].

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Report Core Views - **Methanol**: The current situation remains poor. Iranian plant shutdowns are slower than expected, and imports are likely to remain high in November. The contradiction in the 01 contract is difficult to resolve. The issue of port sanctions is expected to be resolved before the end of gas restrictions, and inventory reduction is difficult. Methanol has limited upside potential, and the downside space depends on the situation in the inland market. Recently, coal prices have strengthened, but it does not affect profits [1]. - **Polyethylene**: The inventory of Sinopec and PetroChina is neutral year - on - year. Upstream Sinopec and PetroChina, as well as coal - chemical enterprises, are reducing inventory, while social inventory remains flat. Downstream raw material and finished - product inventories are also neutral. Overall inventory is neutral. The 09 contract basis is around - 110 in North China and - 50 in East China. Overseas markets in Europe, America, and Southeast Asia are stable. Import profit is around - 200, with no further increase for now. Non - standard HD injection prices are stable, other price differentials are fluctuating, and LD is weakening. In September, maintenance was flat month - on - month, and recent domestic linear production has decreased month - on - month. Attention should be paid to LL - HD conversion and US quotes. New device pressure is large in 2025, and the commissioning of new devices should be monitored [7]. - **PP**: The upstream Sinopec and PetroChina, as well as mid - stream enterprises, are reducing inventory. In terms of valuation, the basis is - 60, non - standard price differentials are neutral, and import profit is around - 700. Exports have been good this year. Non - standard price differentials are neutral. European and American markets are stable. PDH profit is around - 400, propylene prices are fluctuating, and powder production starts are stable. The proportion of drawing production is neutral. Future supply is expected to increase slightly month - on - month. Current downstream orders are average, and raw material and finished - product inventories are neutral. Under the background of over - capacity, the 01 contract is expected to face moderate to excessive pressure. If exports continue to increase or there are more PDH device maintenance, the supply pressure can be alleviated to a neutral level [7]. - **PVC**: The basis remains at 01 - 270, and the factory - pickup basis is - 480. Downstream开工率 is seasonally weakening, and the willingness to hold goods at low prices is strong. Mid - and upstream inventories are continuously accumulating. Northwest plants undergo seasonal maintenance in summer, and the load center is between the spring maintenance and the high production in Q1. In Q4, attention should be paid to the realization of new production capacity and the sustainability of exports. Recent export orders have declined slightly. Coal sentiment is positive, and the cost of semi - coke is stable. The profit of calcium carbide is under pressure due to PVC maintenance. The counter - offer for caustic soda exports is FOB380. Attention should be paid to whether subsequent export orders can support high - price caustic soda. The comprehensive profit of PVC is - 100. Currently, the static inventory contradiction is accumulating slowly, costs are stable, downstream performance is mediocre, and the macro - environment is neutral. Attention should be paid to exports, coal prices, commercial housing sales, terminal orders, and开工率 [7]. 3. Summary by Commodity Methanol - **Price Data**: From November 11 to 17, 2025, the power - coal futures price remained at 801. The Jiangsu spot price decreased from 2067 to 2020, the South China spot price decreased from 2073 to 1990, and the Northwest price converted to the delivery - location price decreased from 2608 to 2560 [1]. Polyethylene - **Price Data**: From November 11 to 17, 2025, Northeast Asia ethylene price decreased from 740 to an unspecified value. The North China LL price decreased from 6770 to 6810, and the East China LL price increased from 6950 to 7010. The two - oil inventory decreased from 12073 to 12017 [7]. PP - **Price Data**: From November 11 to 17, 2025, Shandong propylene price increased from 5750 to 5830. The East China PP price decreased from 6375 to 6360, and the two - oil inventory decreased from 14629 to 14621 [7]. PVC - **Price Data**: From November 11 to 17, 2025, Shandong caustic soda price decreased from 807 to 792. The calcium - carbide - based PVC price in East China remained at 4570, and the basis (high - end delivery product) remained at - 90 [7].

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The PG main contract is running strongly. The basis is 1 (-101), and the 12 - 01 month spread is 93 (+21). The cheapest deliverable is East China civil LPG at 4364 (-10), Shandong at 4440 (+60), and South China at 4460 (+10); ether - after carbon four is 4630 (+130). The international propane market is in a loose pattern, and the domestic chemical market is strong with the expectation of the civil market strengthening in the peak season, but the futures price is over - valued. Attention should be paid to the weather and the situation of cold snaps in the US [4]. 3. Summary by Related Catalogs Daily Changes - On Monday, for civil LPG, the price in East China was 4364 (+0), in Shandong was 4400 (+0), and in South China was 4390 (-70). The price of ether - after carbon four was 4670 (+40). The lowest delivery location was East China, with a basis of -28 (-42) and a 12 - 01 month spread of 82 (-12). FEI was 503 (+1) and CP was 483 (+2) dollars per ton [4]. Weekly Views - The PG main contract showed a strong trend. The basis decreased by 101, and the 12 - 01 month spread increased by 21. The prices of the cheapest deliverable in different regions and ether - after carbon four changed. The outer - market paper goods rose, the oil - gas ratio weakened slightly, the month spread strengthened, and the internal - external price difference weakened. The premium strengthened, and the freight weakened slightly. The FEI - MOPJ spread decreased, the naphtha crack spread changed little, and remained at a relatively high level this year. The profit of Shandong PDH to produce propylene recovered slightly, the profit of alkylation units worsened, the MTBE production profit fluctuated, and the export profit was still good. Domestic production decreased slightly, arrivals were limited, factory inventories decreased slightly, and ports destocked. The PDH operating rate was 71.74% (-3.71). Overall, the domestic chemical market is strong, the civil market has the expectation of strengthening in the peak season, but the futures price is over - valued, and the international propane market pattern is loose [4].

Group 1: Precious Metals Futures - Spot gold prices experienced significant volatility, initially breaking through $4050/oz with a daily increase of 0.14%, followed by a rapid decline, losing key support levels at $4040, $4030, $4020, and $4010/oz, with a maximum daily drop of 1.87% [1][2] - New York futures gold also saw fluctuations, dropping from above $4050/oz (with a daily decrease of 0.55%) to below $4030/oz, with a maximum daily decline of 2.07% [3][4] - Goldman Sachs indicated that central banks may significantly purchase gold in November, predicting gold prices could rise to $4900/oz by the end of 2026 [6] Group 2: Energy and Shipping Futures - Goldman Sachs adjusted its outlook for oil prices, forecasting average prices for Brent and WTI crude oil to drop to $56/barrel and $52/barrel by 2026, respectively, due to strong global supply (excluding Russia), leading to a significant surplus of 2 million barrels per day [7] - However, it is expected that oil prices will rebound to long-term target levels of $80/barrel for Brent and $76/barrel for WTI by the end of 2028 [8] Group 3: Macroeconomic and Market Impact - Federal Reserve official Waller signaled a key policy direction, supporting a 25 basis point rate cut at the December 9-10 meeting, while expressing caution about a 50 basis point cut, noting that a 25 basis point reduction would not restore employment growth to previous levels [9][10][11] - It was also noted that U.S. GDP growth is expected to slow in the second half of 2025 [12] - In the U.S. stock market, major indices closed lower, with the Dow down 1.18%, Nasdaq down 0.84%, and S&P down 0.91%, while many popular Chinese concept stocks fell significantly, with Xpeng down over 10% and Manbang down over 11% [13][14]

Strong domestic and export demand for U.S. corn, as confirmed with Friday’s USDA data, should at least keep a floor under corn futures prices in the coming weeks and months. The resumption of USDA export sales data will be welcomed by corn traders. More trade deals being inked between the U.S. and other countries should also improve global demand for U.S. corn.The focus of corn and soybean traders is turning more to growing weather in South American corn and soybean regions. Some areas in Brazil and Argenti ...