Group 1 - The core viewpoint of the article emphasizes the importance of dialogue in resolving the Iran nuclear issue and the need for international cooperation to maintain regional stability [1] - Canada expresses its commitment to protecting civilians in the Middle East conflict and aims to reduce the impact on the global economy and supply chains [1] - Both China and Canada agree on the necessity of restarting dialogue and expanding mutually beneficial cooperation to promote a stable and healthy development of the China-Canada strategic partnership [1]

Group 1 - The core point of the article is that the recent trade of 60,000 tons of canola seeds symbolizes a thaw in Canada-China relations, indicating a return to business and improved diplomatic ties after a period of stagnation in trade since last October [1] - The significant shift in Canada's stance on electric vehicle tariffs, dropping from punitive rates of up to 100% to just 6.1%, reflects a desire to assert its own economic interests rather than merely aligning with the U.S. [3][5] - The new economic cooperation roadmap between Canada and China enhances communication levels, moving from lower-level discussions to ministerial dialogues, which is expected to improve efficiency and effectiveness in addressing trade issues [5] Group 2 - Canada's decision to "look east" is largely influenced by the unpredictable nature of U.S. policies, particularly under the Trump administration, which has strained Canada-U.S. relations [7][10] - The current state of Canada-China relations, while not fully intimate, shows a pragmatic approach where Canada is making decisions based on its own industrial needs rather than blindly following U.S. policies [12] - The article suggests that Canada's recent changes in foreign policy are a reflection of the evolving international political landscape, as allies like Canada seek to create more strategic space amid U.S. isolationism and protectionism [14][16]

Group 1 - The Chinese Consulate in Calgary hosted a Spring Festival reception in Edmonton, attended by over 300 guests including local officials and community members [1][2] - Consul Zhao Liying highlighted China's achievements over the past year and the "14th Five-Year Plan," emphasizing high-quality development and high-level opening-up to bring new opportunities to countries including Canada [2] - The event showcased cultural activities such as calligraphy, dumpling making, and Chinese knot weaving, enhancing cultural exchange [5][10] Group 2 - Alberta's Lieutenant Governor Salma Lakhani expressed the importance of the relationship between Edmonton and Harbin, emphasizing the reopening of the Harbin Gate in Edmonton [9] - Edmonton's Deputy Mayor,唐可人, noted the increasing influence of the Spring Festival, with more diverse participation from various ethnic groups [10] - The Vice President of the Canada-China Chamber of Commerce, Ron Houghton, highlighted the significance of the Spring Festival in showcasing Chinese culture and traditions [11]

1. Report Industry Investment Rating No relevant information provided. 2. Core Views of the Report - The prices of domestic edible oils such as soybean oil, palm oil, and rapeseed oil are affected by international factors like the US biodiesel policy and the production and inventory situation in palm oil - producing areas, as well as domestic supply - demand fundamentals such as pre - holiday stocking and inventory levels. Short - term trends are mostly bullish, but there are also differences among varieties [1][2]. - The prices of feed products like corn, soybean meal, and rapeseed meal are affected by factors such as supply and demand, import and export situations, and policy expectations. The medium - to - long - term price trends are complex, with some products having supply - side pressure and some having support from demand [3][4][5]. - The prices of livestock and poultry products such as live pigs and eggs are influenced by factors such as production capacity, consumption seasons, and feed costs. The market shows a certain degree of volatility, and different trading strategies are recommended for different varieties [5][6]. 3. Summary According to the Directory 3.1 First Part: Sector Strategy Recommendations 3.1.1 Market Analysis | Category | Variety | Market Logic | Support Level | Resistance Level | Market Outlook | Recommended Strategy | | --- | --- | --- | --- | --- | --- | --- | | Oilseeds | Soybean No.1 05 | Low remaining beans at the grassroots level and pre - holiday stocking by downstream support | 4250 - 4300 | 4420 - 4450 | Sideways adjustment | Temporarily wait and see | | | Soybean No.2 05 | Ample domestic soybean supply and good US soybean biodiesel expectations, with long - and short - term factors intertwined | 3380 - 3400 | 3620 - 3650 | Firm operation | Temporarily wait and see | | | Soybean Oil 05 | Positive expectations for the US biodiesel policy and low domestic soybean oil inventory, short - term firm operation, pay attention to oil - meal arbitrage opportunities | 8100 - 8120 | 8560 - 8600 | Sideways up | Hold long positions | | Oils | Rapeseed Oil 05 | There is still an expectation of increased supply, and the rebound height is limited | 8800 - 8810 | 9400 - 9410 | Sideways operation | Reduce long positions | | | Palm Oil 05 | Multiple factors such as US biodiesel, export season expectations, and Indonesia's cancellation of plantations are favorable | 8770 - 8800 | 9370 - 9400 | Sideways up | Hold long positions | | Protein | Soybean Meal 05 | Positive expectations for the US biodiesel policy, a near - harvest of South American soybeans, and expected ample supply of domestic soybean meal, with long - and short - term factors intertwined and insufficient driving force for continued rise | 2600 - 2650 | 2830 - 2850 | Sideways adjustment | Temporarily wait and see | | | Rapeseed Meal 05 | There is still an expectation of increased supply, the rebound height is limited, and demand remains weak | 2190 - 2200 | 2340 - 2350 | Sideways operation | Temporarily wait and see | | Energy and By - products | Corn 03 | There is still support from the decline in high - quality corn supply. Wheat auctions and China Grain Reserves Corporation's corn rotation have limited pressure on the market, and there is still an expectation of downstream replenishment before the Spring Festival | 2160 - 2170 | 2330 - 2350 | Supported | Bullish thinking | | | Starch 03 | Supported by the cost of corn | 2450 - 2460 | 2620 - 2640 | Supported | Bullish thinking | | Livestock Farming | Live Pigs 03 | Feed prices stop falling and rebound, and the expectation of production capacity reduction intensifies | 11000 - 11300 | 12500 - 12800 | Bottom - seeking in a range | Lightly test long positions | | | Eggs 05 | Decrease in newly - opened production and expectations of a consumption peak season | 3300 - 3400 | 3650 - 3700 | Bottom - seeking in a range | Buy on dips | [9] 3.1.2 Commodity Arbitrage - **Inter - month Arbitrage**: Most varieties are recommended to wait and see, only corn 3 - 5 is recommended to short on rallies [10][11]. - **Inter - commodity Arbitrage**: For 05 soybean - palm oil, 05 soybean meal - rapeseed meal, and 05 corn - starch, it is recommended to wait and see temporarily; for 05 rapeseed oil - soybean oil and 05 rapeseed oil - palm oil, it is recommended to close positions; for 05 beans oil - meal ratio, it is recommended to consider going long; for 05 rapeseed oil - meal ratio, it is recommended to take a bullish attitude [11]. 3.1.3 Basis and Spot - Futures Strategies - The report provides the spot prices, price changes, and basis and basis changes of various varieties such as soybean, soybean oil, and live pigs [12]. 3.2 Second Part: Key Data Tracking Table 3.2.1 Oilseeds and Oils - **Daily Data**: It includes the import cost data of soybeans, rapeseeds, and palm oil from different origins and shipping periods, such as the arrival premium, futures price, CNF price, and arrival duty - paid price [14][15]. - **Weekly Data**: It shows the inventory changes and operating rates of various oilseeds and oils, such as soybean inventory at ports decreased by 1.39 to 840.24, and soybean oil inventory at ports decreased by 4.20 to 89.20 [16][17]. 3.2.2 Feed - **Daily Data**: It provides the import cost data of corn from different countries and months, including the CNF price and arrival duty - paid cost [17]. - **Weekly Data**: It shows the weekly data of corn and corn starch, such as the consumption of corn by deep - processing enterprises was 121.28 million tons, with a month - on - month increase of 1.62 million tons [18]. 3.2.3 Livestock Farming - It includes the daily and weekly data of live pigs and eggs, such as the daily spot price changes of live pigs in different regions and the weekly key data of live pig production, cost, and slaughter [18][19][20]. 3.3 Third Part: Fundamental Tracking Charts - It includes the tracking charts of the livestock - farming end (live pigs and eggs), oilseeds and oils, and feed end, covering price trends, inventory changes, production, and other aspects [21][28][43]. 3.4 Fourth Part: Options Situation of Feed, Livestock Farming, and Oils - It provides charts related to the options of feed, livestock - farming, and oil products, such as the historical volatility of rapeseed meal and rapeseed oil, and the trading volume and open interest of corn options [84]. 3.5 Fifth Part: Warehouse Receipt Situation of Feed, Livestock Farming, and Oils - It provides charts showing the warehouse receipt situations of various products such as rapeseed meal, rapeseed oil, and soybean oil [93].

Group 1 - The core viewpoint emphasizes the importance of mutual respect, common development, trust, and cooperation between China and Canada to guide their relationship towards a healthy, stable, and sustainable trajectory [1] - The relationship between China and Canada has returned to a positive development path after experiencing setbacks, encouraging both nations to cherish this momentum and handle differences appropriately [1] - The two countries have different national conditions and development paths, but can find common ground and build mutual trust by respecting each other's core interests and major concerns [1] Group 2 - The current global context is characterized by profound adjustments and accelerated transformations, with a new round of technological revolution and industrial change underway, providing new opportunities for China-Canada cooperation [2] - China possesses a complete industrial system, a vast market, and ongoing development potential, which, along with its commitment to high-quality development and high-level openness, creates ample cooperation space in traditional and new sectors [2] - The relationship between China and Canada is not only significant for bilateral development but also plays an important role in the international multilateral system, where both countries should contribute to global governance and stability [2] Group 3 - The desire for cooperation and win-win outcomes is a shared aspiration of the peoples of China and Canada, which aligns with the need for stability and development in the world [3] - There is an expectation for Canada to focus on cooperation and eliminate distractions, allowing the relationship to achieve stability and bring tangible benefits to both nations [3]

Group 1 - The article discusses a recent explosion in Kabul, Afghanistan, which resulted in the death of one Chinese citizen and injuries to five others. The Chinese government has expressed deep condolences and has called for urgent negotiations with the Afghan authorities to ensure the safety of Chinese citizens in the region [2][3]. - The Chinese Ministry of Foreign Affairs has condemned all forms of terrorism and emphasized the need for cooperation in combating violent activities. It has also advised Chinese citizens to avoid traveling to Afghanistan and to enhance security measures if they are already present in the country [3]. Group 2 - The article highlights the current state of China-U.S. relations, indicating that despite fluctuations, the relationship has achieved overall dynamic stability over the past year. This stability is seen as beneficial for both nations and aligns with the expectations of the international community [4][5]. - The Chinese government advocates for a relationship based on equality, respect, and mutual benefit, aiming to explore a correct way for the two major powers to coexist [5]. Group 3 - The article also addresses China-Canada relations, stating that their healthy and stable development is in the mutual interest of both countries and contributes to global peace and stability. China expresses a consistent and clear stance on advancing its relationship with Canada [6][7]. - The Chinese government aims to build a new type of strategic partnership with Canada, focusing on responsible attitudes towards history, people, and the world [7].

Core Viewpoint - The development of China-Canada relations is beneficial for both countries and contributes to global peace, stability, and prosperity [1] Group 1 - The Chinese government maintains a consistent and clear stance on developing China-Canada relations [1] - China is willing to work with Canada to build a new type of strategic partnership based on a responsible attitude towards history, people, and the world [1] - The goal is to advance China-Canada relations into a healthy, stable, and sustainable development trajectory that benefits the people of both countries [1]

Group 1 - The article emphasizes that Canadian Prime Minister Carney's visit to China is a positive step towards rebuilding a more pragmatic and productive relationship between the two countries after years of fluctuations [2] - It highlights the potential for cooperation in areas such as energy collaboration and addressing global issues like climate change, indicating a "restart" in Sino-Canadian relations [2] - Energy cooperation is identified as an ideal entry point, with Canada needing to find alternative markets due to the unpredictability of the U.S. as a trading partner, making China a significant option [2] Group 2 - Canada primarily exports minerals, energy, and agricultural products to China, with canola seed exports being particularly important for Western Canada and seafood markets being crucial for the Eastern coastal regions [2] - The article notes a decline in Canadian electric vehicle sales, attributing high prices as a key factor, while Chinese electric vehicles are positioned as a potential solution to alleviate this issue due to their quality and pricing advantages [2] - The visit is expected to yield progress in energy cooperation and lay the groundwork for achieving results in complex trade issues [3]

Group 1 - Canadian Prime Minister Carney will officially visit China from January 14 to 17, highlighting the importance of China as Canada's second-largest trading partner and the world's second-largest economy [1][4] - Carney emphasized that the pragmatic and constructive relationship between Canada and China will contribute to greater stability, security, and prosperity across the Pacific [1] - The Chinese Foreign Ministry expressed that the healthy and stable development of China-Canada relations aligns with the common interests of both countries and their peoples, as well as global peace and stability [4] Group 2 - The visit is seen as an opportunity to enhance dialogue and communication, increase political mutual trust, and expand practical cooperation between the two nations [4] - China aims to properly address differences and resolve mutual concerns during Carney's visit, reinforcing the momentum of improving China-Canada relations [4]

Core Viewpoint - Canadian Prime Minister Carney is set to visit China from January 14 to 17, with the Premier of Saskatchewan, the largest canola-producing province, accompanying him. This visit is seen as an opportunity to readjust Canada-China relations [1][4]. Group 1 - The visit aims to establish and strengthen diplomatic and economic ties between Canada and China, focusing on trade, investment, and long-term cooperation [3][6]. - Saskatchewan Premier Moe expressed the need for Canada and Saskatchewan to maintain a strong relationship with China, emphasizing that the meetings will help readjust cooperation methods [3][6]. - Chinese Foreign Ministry spokesperson Mao Ning stated that the healthy and stable development of Canada-China relations aligns with the common interests of both countries and their peoples, contributing to global peace and prosperity [3][6].