Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Views - **Corn**: The pressure on the import side has significantly decreased due to the unavailability of Brazil's second - crop corn, which is beneficial to the domestic corn market. However, the USDA's forecast of a large ending inventory of US corn in the 2025/26 season restricts market prices. In the domestic market, the supply situation varies by region. In the Northeast, the supply of grain from the grass - roots level is running out, and traders are holding grain firmly. In the North China and Huanghuai regions, the supply has increased, and the procurement of deep - processing enterprises is cautious. The spring sowing progress of new crops in some areas is slower than last year. The corn market is oscillating higher, and short - term participation is recommended [3]. - **Corn Starch**: The supply - demand situation of corn starch is weak, with the industry in deep losses. The operating rate of corn starch enterprises has decreased, and the supply pressure has declined. Although the raw material price is firm and the spot price of corn starch performs well, the downstream demand is poor, and the industry inventory remains high. The starch futures price continues to decline, and short - term participation is recommended [3]. 3. Summary by Directory 3.1 Futures Market - **Domestic Futures**: The closing price of the active contract of domestic corn futures is 2356 yuan/ton, up 12 yuan; the closing price of the active contract of corn starch futures is 2702 yuan/ton, down 71 yuan. The net long position of the top 20 futures holders of corn is - 157206 hands, and that of corn starch is 879 hands. The registered warehouse receipts of yellow corn are 201247 hands, and those of corn starch are 21368 hands. The CS - C spread of the main contract is 406 yuan/ton, down 9 yuan [2]. - **Foreign Futures**: The closing price of the active contract of CBOT corn futures is 442.5 cents/bushel, down 4.75 cents. The total position of CBOT corn is 1548526 contracts, up 4592 contracts. The non - commercial net long position of CBOT corn is 115899 contracts, down 59530 contracts [2]. 3.2 Spot Market - **Corn**: The average spot price of corn is 2373.33 yuan/ton, down 0.4 yuan. The flat - hatch price of corn at Jinzhou Port is 2320 yuan/ton, unchanged. The CIF price of imported corn is 2175.34 yuan/ton, down 0.88 yuan [2]. - **Corn Starch**: The ex - factory quotes of corn starch in Changchun, Weifang, and Shijiazhuang are 2670 yuan/ton, 2880 yuan/ton, and 2830 yuan/ton respectively, all unchanged. The basis of the main corn starch contract is - 34 yuan, up 31 yuan [2]. 3.3 Industry Situation - **Supply**: The inventory of corn in southern ports is 150.3 tons, down 14.8 tons; the inventory in northern ports is 508 tons, down 13 tons. The monthly import volume of corn is 8 tons, unchanged. The monthly export volume of corn starch is 20.35 tons, down 0.93 tons [2]. - **Demand**: The monthly output of feed is 2777.2 tons, down 66.4 tons. The consumption of deep - processed corn is 121.97 tons, down 2.15 tons. The operating rate of alcohol enterprises is 41.22%, down 4.12 percentage points; the operating rate of starch enterprises is 57.17%, down 5.74 percentage points [2]. 3.4 Key Information - As of May 11, the sowing progress of US corn in 18 states accounting for 92% of the national sowing area is 62%, higher than last week and last year's same period [2]. - As of May 10, the harvest progress of Brazil's first - season corn in the 2024/25 season is 77.6%, higher than last week and last year's same period [2]. - As of May 14, the total starch inventory of national corn starch enterprises is 142.1 tons, down 1.5 tons from last week, with a weekly decline of 1.04%, a monthly increase of 2.45%, and a year - on - year increase of 27.22% [3].

荡上涨。盘面来看，受现货走强提振，近期玉米震荡上涨，短线偏多参与为主。 | 观点总结（ | 近期玉米淀粉供需表现偏弱，行业利润持续亏损，玉米淀粉企业开机率下降，供应压力有所下滑。且由于原料价格上涨，玉米淀粉 | | --- | --- | | 淀粉） | 现货价格跟涨运行。但近期玉米淀粉下游需求不佳，叠加受到木薯淀粉替代影响，下游实际消化能力有限，行业库存保持高位。截 | | 重点关注 | 至5月7日，全国玉米淀粉企业淀粉库存总量143.6万吨，较上周增加6.00万吨，周增幅4.36%，月增幅3.53%；年同比增幅17.42% 周四、周五mysteel玉米周度消耗以及淀粉企业开机、库存情况，12日凌晨USDA月度供需报告 | | | 数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ | | | 。盘面来看，近日淀粉期价随玉米震荡收涨，短线偏多参与为主。 | 玉米系产业日报 2025-05-07 | 项目类别 | 数据指标 最新 环比 数据指标 玉米淀粉期货收盘价(活跃合约):(日,元/ | | | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | | 期 ...

玉米系产业日报 2025-05-06 有所下降，企业开始使用库存用以生产，收购价格震荡上涨。盘面来看，今日玉米探底回升，短线偏多参 与为主。 | 观点总结（ | 近期玉米淀粉供需表现偏弱，行业利润持续亏损，玉米淀粉企业开机率下降，供应压力有所下滑。但近期玉米淀粉下游需求不佳， | | --- | --- | | | 叠加受到木薯淀粉替代影响，下游实际消化能力有限，行业库存保持高位。截至4月30日，全国玉米淀粉企业淀粉库存总量137.6万 | | 淀粉） | | | 重点关注 | 吨，较上周下降1.10万吨，周降幅0.79%，月增幅1.76%；年同比增幅8.69%。盘面来看，近日淀粉期价随玉米震荡收涨，短线偏 周四、周五mysteel玉米周度消耗以及淀粉企业开机、库存情况，12日凌晨USDA月度供需报告 | | | 数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ | | | 多参与为主。 | 研究员: 许方莉 期货从业资格号F3073708 期货投资咨询从业证书号Z0017638 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资 ...

| 项目类别 | 数据指标 环比 数据指标 | 最新 | 最新 | 环比 | | --- | --- | --- | --- | --- | | | -6 玉米淀粉期货收盘价(活跃合约):(日,元/ 期货收盘价(活跃合约):(日,元/吨) 吨) 玉米月间价差(9-1):(日,元/吨) 1 玉米淀粉月间价差(7-9):(日,元/吨) 期货持仓量(活跃合约):黄玉米(日,手) -8379 期货持仓量(活跃合约):玉米淀粉(日,手) | 2355 86 1464727 | 2721 -77 233316 | 0 2 -115 | | 期货市场 | 6386 期货前20名持仓:净买单量:玉米淀粉(日, | | | | | | 期货前20名持仓:净买单量:玉米(日,手) | -183547 | -7516 | 6790 | | | 手) 注册仓单量:黄玉米(日,手) 21246 注册仓单量:玉米淀粉(日,手) | 133475 | 8450 | 0 | | | 主力合约CS-C价差(日,元/吨) 2 | 422 | | | | 外盘市场 | 期货收盘价(活跃合约):CBOT玉米(日,美 -1.25 CBOT:玉米:总持 ...