Report on the Cotton Industry 1. Investment Rating No investment rating provided in the report. 2. Core View Short - term domestic cotton prices may fluctuate in a moderately strong range, while they will face pressure after the new cotton is listed in the long - term [1]. 3. Summary by Category Futures Market - Cotton 2509 price is 14,270 yuan/ton, up 0.14%; Cotton 2601 is 13,965 yuan/ton, up 0.04%; ICE US cotton main contract is 68.76 cents/pound, down 0.12% [1]. - Cotton 9 - 1 spread is 305 yuan/ton, up 5.17%; Main contract open interest is 580,773, down 1.16%; Warehouse receipts are 9,532, down 0.55%; Valid forecasts remain unchanged at 223 [1]. Spot Market - Xinjiang arrival price of 3128B cotton is 15,424 yuan/ton, up 0.71%; CC Index: 3128B is 15,508 yuan/ton, up 1.00%; FC Index: M: 1% is 13,815 yuan/ton, up 0.25% [1]. - 3128B - 01 contract spread is 1,154 yuan/ton, up 8.26%; 3128B - 05 contract spread is 1,459 yuan/ton, up 7.60%; CC Index: 3128B - FC Index: M: 1% spread is 1,693 yuan/ton, up 7.56% [1]. Industry Situation - Northern inventory is 282.98 tons, down 9.5%; Industrial inventory is 90.30 tons, down 2.9%; Import volume is 3.00 tons, down 25.0%; Bonded area inventory is 33.60 tons, down 8.9% [1]. - Textile industry inventory year - on - year is 1.90, down 48.6%; Yarn inventory days are 27.23 days, up 14.1%; Grey cloth inventory days are 36.61 days, up 3.2%; Cotton outbound shipping volume is 53.46 tons, up 22.6% [1]. - Spinning enterprise C32s immediate processing profit is - 2,318.80 yuan/ton, down 5.9%; Retail sales of clothing, footwear, hats and knitted textiles are 127.54 billion yuan, up 4.1% [1]. - Exports of textile yarns, fabrics and products are 12.048 billion US dollars, down 4.6%; Exports of clothing and clothing accessories are 15.267 billion US dollars, up 12.4% [1]. Report on the Sugar Industry 1. Investment Rating No investment rating provided in the report. 2. Core View In the short - term, the bottom of the raw sugar price may appear, but considering the production increase pattern, it should be treated with a bearish view. The domestic sugar market is expected to be bearish after a rebound [5]. 3. Summary by Category Futures Market - Sugar 2601 price is 5,656 yuan/ton, up 0.02%; Sugar 2509 is 5,826 yuan/ton, down 0.03%; ICE raw sugar main contract is 16.79 cents/pound, up 0.24% [4]. - Sugar 1 - 9 spread is - 170 yuan/ton, up 1.73%; Main contract open interest is 329,588, up 2.43%; Warehouse receipts are 21,477, down 1.74%; Valid forecasts are 0 [4]. Spot Market - Nanning price is 6,050 yuan/ton, unchanged; Kunming price is 5,905 yuan/ton, up 0.43% [4]. - Nanning county spread is 224 yuan/ton, up 0.90%; Kunming spread is 79 yuan/ton, up 51.92% [4]. - Imported Brazilian sugar (in - quota) is 4,476 yuan/ton, up 0.02%; Imported Brazilian sugar (out - quota) is 5,687 yuan/ton, up 0.04% [4]. Industry Situation - National cumulative sugar production is 11.1621 million tons, up 12.03%; National cumulative sugar sales are 8.1138 million tons, up 23.07% [4]. - Guangxi cumulative sugar production is 6.465 million tons, up 4.59%; Guangxi monthly sugar sales are 510,000 tons, down 3.26% [4]. - National cumulative sugar sales ratio is 72.59%, up 9.70%; Guangxi cumulative sugar sales ratio is 71.85%, up 8.11% [4]. - National industrial sugar inventory is 3.0483 million tons, down 9.56%; Guangxi industrial sugar inventory is 1.8197 million tons, down 12.23% [4]. Report on the Egg Industry 1. Investment Rating No investment rating provided in the report. 2. Core View This week, egg prices are expected to rise slightly and then stabilize, as demand is the dominant factor, but sufficient supply and high - temperature weather may suppress the price increase [8]. 3. Summary by Category Futures Market - Egg 09 contract price is 3,595 yuan/500KG, unchanged; Egg 08 contract is 3,520 yuan/500KG, up 1.68% [7]. - Basis is - 594 yuan/500KG, up 19.47%; 9 - 8 spread is 75 yuan/500KG, down 43.61% [7]. Spot Market - Egg producing area price is 3.00 yuan/jin, up 5.03% [7]. Industry Situation - Egg chick price is 3.88 yuan/feather, down 0.51%; Culled chicken price is 4.60 yuan/jin, up 4.35% [7]. - Egg - feed ratio is 2.11, down 3.65%; Breeding profit is - 41.50 yuan/feather, down 13.05% [7]. Report on the Oil Industry 1. Investment Rating No investment rating provided in the report. 2. Core View Palm oil is expected to continue to rise in a volatile manner. Short - term, soybean oil still has some room to rise, and the forward basis quote is supported [11]. 3. Summary by Category Futures Market - Soybean oil: Y2509 price is 8,160 yuan/ton, up 1.09%; Basis is 190 yuan/ton, down 12.84%; Warehouse receipts are 22,118, down 0.06% [11]. - Palm oil: P2509 price is 8,964 yuan/ton, up 1.91%; Basis is 6 yuan/ton, up 123.08%; Warehouse receipts are 854, unchanged [11]. - Rapeseed oil: O1509 price is 9,440 yuan/ton, up 1.55%; Basis is 74 yuan/ton, down 38.33%; Warehouse receipts are 3,487, down 2 [11]. Spread - Soybean oil inter - period spread (09 - 01) is 42 yuan/ton, unchanged; Palm oil inter - period spread (09 - 01) is 32 yuan/ton, up 60.00%; Rapeseed oil inter - period spread (09 - 01) is 77 yuan/ton, up 16.67% [11]. - Soybean - palm oil spread (spot) is - 620 yuan/ton, down 29.17%; Soybean - palm oil spread (2509) is - 804 yuan/ton, down 11.05% [11]. - Rapeseed - soybean oil spread (spot) is 1,310 yuan/ton, up 3.15%; Rapeseed - soybean oil spread (2509) is 1,426 yuan/ton, up 4.24% [11]. Report on the Meal Industry 1. Investment Rating No investment rating provided in the report. 2. Core View The short - term may have further upward space, and cautious and bullish operations are recommended [13]. 3. Summary by Category Futures Market - Soybean meal: M2509 price is 3,056 yuan/ton, up 0.89%; Basis is - 166 yuan/ton, up 1.78%; Warehouse receipts are 41,839, down 0.0% [13]. - Rapeseed meal: RM2509 price is 2,722 yuan/ton, up 0.11%; Basis is - 101 yuan/ton, up 7.34%; Warehouse receipts are 434, down 33.02% [13]. - Soybean: Bean 1 main contract price is 4,189 yuan/ton, down 0.26%; Basis is - 229 yuan/ton, up 4.58%; Warehouse receipts are 15,274, down 0.09% [13]. - Bean 2 main contract price is 3,726 yuan/ton, up 1.11%; Basis is - 66 yuan/ton, down 164.00% [13]. Spread - Soybean meal inter - period spread (09 - 01) is - 22 yuan/ton, up 12.00%; Rapeseed meal inter - period spread (09 - 01) is 328 yuan/ton, down 1.20% [13]. - Oil - meal ratio (spot) is 2.89, down 0.32%; Oil - meal ratio (main contract) is 2.67, up 0.20% [13]. - Soybean - rapeseed meal spread (spot) is 269 yuan/ton, up 7.60%; Soybean - rapeseed meal spread (2509) is 334 yuan/ton, up 7.74% [13]. Report on the Corn Industry 1. Investment Rating No investment rating provided in the report. 2. Core View In the short - term, the market's weak sentiment is released, and the futures price is slightly stronger but with limited space. Attention should be paid to policy auctions [15][16]. 3. Summary by Category Futures Market - Corn 2509 price is 2,314 yuan/ton, up 0.78%; Basis is 36 yuan/ton, down 18.18%; 9 - 1 spread is 70 yuan/ton, up 25.00% [15]. - Long - term position is 1,747,516, up 1.71%; Warehouse receipts are 178,283, down 3.62% [15]. Spot Market - Jinzhou Port FAS price is 2,350 yuan/ton, up 0.43%; Shekou bulk grain price is 2,430 yuan/ton, unchanged [15]. - North - south trade profit is - 1 yuan/ton, down 111.11%; Import profit is 440 yuan/ton, down 16.68% [15]. Industry Situation - Shandong deep - processing early - morning remaining vehicles are 288, up 80.00% [15]. Corn Starch - Corn starch 2509 price is 2,658 yuan/ton, up 0.45%; Basis is 22 yuan/ton, down 35.29%; 9 - 1 spread is 41 yuan/ton, up 13.89% [15]. - Starch - corn futures spread is 344 yuan/ton, down 1.71%; Shandong starch profit is - 141 yuan/ton, down 2.17% [15]. - Long - term position is 344,422, down 1.60%; Warehouse receipts are 12,334, down 5.80% [15]. Report on the Pig Industry 1. Investment Rating No investment rating provided in the report. 2. Core View The short - term sentiment is still strong, but the pressure above the 09 futures contract is continuously accumulating. Attention should be paid to the pressure above 14,500 [19]. 3. Summary by Category Futures Market - Main contract basis is 265, down 32.05%; Pig 2511 price is 13,635 yuan/ton, up 0.74%; Pig 2509 is 14,135 yuan/ton, up 0.53% [18]. - 9 - 11 spread is 500 yuan/ton, down 4.76%; Main contract open interest is 63,659, down 1.78%; Warehouse receipts are 284 [18]. Spot Market - Henan price is 14,400 yuan/ton, down 50.0; Shandong price is 14,500 yuan/ton, down 100.0; Sichuan price is 13,600 yuan/ton, down 100.0 [18]. - Liaoning price is 14,150 yuan/ton, down 100.0; Guangdong price is 15,540 yuan/ton, down 300.0; Hunan price is 13,960 yuan/ton, down 100.0; Hebei price is 14,400 yuan/ton, down 100.0 [18]. Industry Situation - Sample slaughter volume per day is 131,632 heads, down 0.73%; Weekly white - strip price is 20.84 yuan/kg, unchanged [18]. - Weekly piglet price is 26.00 yuan/kg, unchanged; Weekly sow price is 32.52 yuan/kg, unchanged [18]. - Weekly slaughter weight is 128.83 kg, down 0.16%; Weekly self - breeding profit is 91 yuan/head, down 32.11%; Weekly purchased - piglet breeding profit is - 19 yuan/head, down 159.05% [18]. - Monthly fertile sow inventory is 4,042 million heads, up 0.10% [18].

| 油脂产业期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 王涛辉 Z0019938 2025年7月15日 | | | | | | | 田洞 | | | | | | | 7月11日 涨跌 涨跌幅 | | | | | | | 8230 我们 江苏一级 8240 -10 -0.12% | | | | | | | Y2509 7994 7986 8 0.10% 期价 | | | | | | | 是差 Y2509 236 254 -18 -7.09% | | | | | | | 现货基差报价 江苏6月 09+200 09 +210 -10 - | | | | | | | -1.76% | | | | | | | 棕榈油 | | | | | | | 7月11日 | | | | | | | -0.34% | 广东24度 8770 8800 -30 现价 | | | | | | P2509 | | 期价 8748 8682 ୧୧ 0.76% | | | | | -81.36% | | | | | | | 广东6月 | | | | 现货墓差报价 09+150 ...

Report 1: Oil and Fat Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View - Palm oil: After the release of the MPOB supply - demand report, the bullish factors are realized. There is a risk of a new round of decline after the end of the current uptrend in crude palm oil futures due to concerns about production growth in July. Long - term, there is a risk of falling below 4,000 ringgit and continuing to weaken. In the domestic market, after a sharp rise, Dalian palm oil futures may face short - term resistance around 8,650 yuan, and it is advisable to closely monitor whether it can effectively stop falling around 8,500 yuan. - Soybean oil: The CBOT soybean oil market is currently less affected by its own fundamentals. The previous biodiesel theme has been digested by the market. At present, the market is mainly affected by the rise of new - crop soybeans in the US and trade relations. In the short term, the fluctuation range of CBOT soybean oil is small, and the narrow - range shock adjustment pattern will continue. In the domestic market, the overstocked oil mills force traders to lower the basis for sales contracts, which has a certain drag on the spot basis quotation. However, due to the expected limited soybean imports in the fourth quarter, the possibility of a significant downward adjustment of the basis quotation is not large. [1] 3. Data Summary - **Soybean oil**: The spot price in Jiangsu was 8,170 yuan on July 9, up 40 yuan or 0.49% from the previous day; the futures price of Y2509 was 7,920 yuan, down 26 yuan or - 0.33%; the basis of Y2509 was 250 yuan, up 35.87%; the warehouse receipts decreased by 137 to 22,826, a decrease of 0.60%. - **Palm oil**: The spot price of 24 - degree palm oil in Guangdong was 8,700 yuan on July 9, up 120 yuan or 1.75%; the futures price of P2509 was 8,678 yuan, up 34 yuan or 0.39%; the basis of P2509 was 22 yuan, up 123.40%; the warehouse receipts increased by 184 to 854, an increase of 27.46%. - **Rapeseed oil**: The spot price of Grade 4 rapeseed oil in Jiangsu was 9,680 yuan on July 9, up 50 yuan or 0.52%; the futures price of OI509 was 9,510 yuan, down 88 yuan or - 0.92%; the basis of OI509 was 170 yuan, up 431.25%; the warehouse receipts increased by 301 to 3,021. - **Spreads**: The soybean oil inter - period spread (09 - 01) decreased by 2 to 4, a decrease of 33.33%; the palm oil inter - period spread (09 - 01) increased by 18 to 32, an increase of 128.57%; the rapeseed oil inter - period spread (09 - 01) increased by 6 to 60, an increase of 11.11%. The spot soybean - palm oil spread decreased by 110 to - 530, a decrease of 26.19%; the 2509 soybean - palm oil spread decreased by 60 to - 758, a decrease of 8.60%. [1] Report 2: Corn and Corn Starch Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View In the short term, due to the continuous import corn auctions, the market sentiment is bearish, and the spot and futures prices are weak. As the remaining grain is consumed, traders are reluctant to sell, and the decline of corn prices slows down. Downstream deep - processing has maintenance plans and purchases on demand; the breeding end purchases as needed and mainly replenishes inventory on a rigid basis. The overall demand is supported by breeding consumption. On the substitution side, wheat is strongly supported by the purchase - protection policy, the wheat - corn price spread narrows, and the feed substitution increases, limiting the rise of corn. In the medium term, the tight supply of corn, low imports, and increasing breeding consumption support the upward movement of corn in the third quarter. Overall, in the short term, the market sentiment is gradually digested, the decline of corn is limited due to the tight remaining grain, the market fluctuates narrowly, and it is advisable to pay attention to subsequent policy releases and temporarily stay on the sidelines. [3] 3. Data Summary - **Corn**: The futures price of corn 2509 was 2,319 yuan/ton, down 2 yuan or - 0.09%; the basis was 41 yuan, up 5.13%; the north - south trade profit was - 1 yuan, down 20 yuan or - 105.26%; the import profit was 554 yuan, down 10 yuan or - 1.84%. The number of remaining vehicles in Shandong deep - processing in the morning was 173, down 40 or - 18.78%; the open interest increased by 25,610 to 1,604,832, an increase of 1.62%; the warehouse receipts increased by 287 to 202,489, an increase of 0.14%. - **Corn starch**: The futures price of corn starch 2509 was 2,677 yuan/ton, up 1 yuan or 0.04%; the basis was 23 yuan, down 1 yuan or - 4.17%; the 9 - 1 spread increased by 8 to 57, an increase of 16.33%; the starch - corn spread on the disk increased by 3 to 358, an increase of 0.85%. The open interest increased by 10,948 to 298,266, an increase of 3.81%; the warehouse receipts decreased by 101 to 22,821, a decrease of 0.44%. [3] Report 3: Sugar Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View In the first half of June, Brazil's sugar production was 2.45 million tons, a year - on - year decrease of 696,000 tons or 22.12%. Brazil's increase in the ethanol blending ratio in gasoline supports the raw sugar price. However, the global supply is becoming looser, which puts pressure on raw sugar, and the rebound height is limited. It is expected that raw sugar will maintain a bottom - oscillating pattern. The market demand is weak, the low inventory supports the spot price in Guangxi, the continuous decline of raw sugar, the expansion of import processing profits, and the loosening of processed sugar quotes put pressure on prices. Considering the increase in imports later, the overall domestic supply - demand is marginally looser, and a bearish view is maintained after a rebound. [7][8] 3. Data Summary - **Futures market**: The futures price of sugar 2601 was 5,606 yuan/ton, up 17 yuan or 0.30%; the futures price of sugar 2509 was 5,779 yuan/ton, up 32 yuan or 0.56%; the ICE raw sugar main contract was 16.54 cents/pound, up 0.39 cents or 2.41%. The 1 - 9 spread was - 173 yuan/ton, down 15 yuan or - 9.49%; the open interest of the main contract decreased by 7,728 to 287,247, a decrease of 2.62%; the warehouse receipts decreased by 105 to 22,987, a decrease of 0.45%. - **Spot market**: The spot price in Nanning was 6,040 yuan/ton, up 20 yuan or 0.33%; the spot price in Kunming was 6,365 yuan/ton, up 485 yuan or 8.25%. The import price of Brazilian sugar (within the quota) was 4,457 yuan/ton, down 30 yuan or - 0.67%; the import price of Brazilian sugar (outside the quota) was 5,662 yuan/ton, down 39 yuan or - 0.68%. - **Industry situation**: The cumulative national sugar production was 11.1621 million tons, up 1.1989 million tons or 12.03%; the cumulative national sugar sales were 8.1138 million tons, up 1.521 million tons or 23.07%; the cumulative sugar production in Guangxi was 6.465 million tons, up 283,600 tons or 4.59%; the monthly sugar sales in Guangxi were 510,000 tons, down 17,200 tons or - 3.26%. The cumulative national sugar sales rate was 72.59%, up 6.42 percentage points or 9.70%; the cumulative sugar sales rate in Guangxi was 71.85%, up 5.39 percentage points or 8.11%. The national industrial inventory was 3.0483 million tons, down 322,100 tons or - 9.56%. [7] Report 4: Cotton Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View The downstream of the cotton industry remains weak, the overall demand is weak, the operating rate of textile enterprises continues to decline, and the finished - product inventory is accumulating. However, the inventory pressure is not large. The profit of textile enterprises has deteriorated from April to May, and there is no obvious continuous upward - driving force in the industrial fundamentals. It is necessary to pay attention to the weather changes in the main production areas in Xinjiang and the downstream demand of the industry. In the short term, the domestic cotton price may fluctuate in a higher range than before the rise in late June. If the downstream remains weak, there is still a risk of decline. [10] 3. Data Summary - **Futures market**: The futures price of cotton 2509 was 13,830 yuan/ton, up 45 yuan or 0.33%; the futures price of cotton 2601 was 13,785 yuan/ton, up 25 yuan or 0.18%; the ICE US cotton main contract was 67.72 cents/pound, up 0.40 cents or 0.59%. The 9 - 1 spread was 45 yuan/ton, up 20 yuan or 80.00%; the open interest of the main contract increased by 3,542 to 546,763, an increase of 0.65%; the warehouse receipts decreased by 16 to 9,932, a decrease of 0.39%. - **Spot market**: The Xinjiang arrival price of 3128B was 15,163 yuan/ton, down 12 yuan or - 0.08%; the CC Index of 3128B was 15,184 yuan/ton, down 9 yuan or - 0.06%; the FC Index of M: 1% was 13,545 yuan/ton, down 87 yuan or - 0.64%. - **Industry situation**: The commercial inventory was 282.98 million tons, down 29.71 million tons or - 9.5%; the industrial inventory was 90.30 million tons, down 2.71 million tons or - 2.9%; the import volume was 4 million tons, down 2 million tons or - 33.3%; the bonded - area inventory was 33.60 million tons, down 3.30 million tons or - 8.9%. The yarn inventory days were 27.23 days, up 3.37 days or 14.1%; the grey - cloth inventory days were 36.61 days, up 1.15 days or 3.2%. The cotton shipment volume out of Xinjiang was 53.46 million tons, up 8.86 million tons or 22.6%. [10] Report 5: Meal and Soybean Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View The good weather in the US soybean - producing areas and market concerns about US tariffs keep the market at the bottom. The premiums of Brazilian soybeans for August and September shipments have slightly declined recently. As the time window for the arrival of US soybeans approaches, the price of Brazilian soybeans is relatively firm. Currently, the inventory of domestic soybeans and soybean meal continues to rise, the operating rate improves, and there is no significant inventory pressure on soybean meal, and the basis is relatively stable. However, the subsequent supply is expected to be high, and the terminal trading is weak. It is necessary to pay attention to the sustainability of demand. The trend of soybean meal is not yet clear, and the market is bottom - grinding in the short term. [12] 3. Data Summary - **Soybean meal**: The spot price in Jiangsu was 2,800 yuan, unchanged; the futures price of M2509 was 2,947 yuan, up 12 yuan or 0.41%; the basis of M2509 was - 147 yuan, down 12 yuan or - 8.89%. The import crushing profit of Brazilian soybeans for September shipments was 37 yuan, up 4 yuan or 12.1%; the warehouse receipts were 42,250, unchanged. - **Rapeseed meal**: The spot price in Jiangsu was 2,480 yuan, unchanged; the futures price of RM2509 was 2,586 yuan, up 10 yuan or 0.39%; the basis of RM2509 was - 106 yuan, down 10 yuan or - 10.42%. The import crushing profit of Canadian rapeseed for November shipments was 155 yuan, down 81 yuan or - 34.32%; the warehouse receipts were 15,663, down 136 or - 0.86%. - **Soybeans**: The spot price of Harbin soybeans was 3,960 yuan, unchanged; the futures price of the main soybean No. 1 contract was 4,111 yuan, up 7 yuan or 0.17%; the basis of the main soybean No. 1 contract was - 151 yuan, down 7 yuan or - 4.86%. The spot price of imported soybeans in Jiangsu was 3,660 yuan, unchanged; the futures price of the main soybean No. 2 contract was 3,582 yuan, unchanged; the basis of the main soybean No. 2 contract was 78 yuan, unchanged. [12] Report 6: Pig Industry 1. Industry Investment Rating No investment rating information provided. 2. Core View The spot price of pigs fluctuates. Recently, the enthusiasm for secondary fattening is limited, the slaughter volume increases slightly, the market demand is weak, the price is stable and weak, and the market lacks upward - driving force. Currently, the breeding profit has returned to a low level, the market is cautious about capacity expansion, and there is no basis for a significant decline in the market. The market expects a wave of market conditions in July and August due to the impact of piglet diarrhea at the beginning of the year. The short - term sentiment is still strong, but the live - pig inventory continues to be postponed, and the pressure on the 09 contract is increasing. It is necessary to pay attention to the pressure above 14,500 yuan. [15][16] 3. Data Summary - **Futures market**: The main - contract basis was - 185 yuan/ton, down 960 yuan or - 123.87%; the futures price of pig 2511 was 13,600 yuan/ton, down 85 yuan or - 0.62%; the futures price of pig 2509 was 14,265 yuan/ton, down 10 yuan or - 0.07%. The 9 - 11 spread was 665 yuan, up 75 yuan or 12.71%; the open interest of the main contract decreased by 1,328 to 71,740, a decrease of 1.82%; the warehouse receipts were 447, unchanged. - **Spot market**: The spot price in Henan was 14,080 yuan/ton, down 970 yuan; the spot price in Shandong was 14,170 yuan/ton, down 1,030 yuan; the spot price in Sichuan was 14,430 yuan/ton, up 30 yuan; the spot price in Liaoning was 14,810 yuan/ton, down 40 yuan; the spot price in Guangdong was 16,590 yuan/ton, unchanged

1. Report Industry Investment Ratings No investment ratings were provided in the reports. 2. Core Views Fats and Oils - Palm oil futures may face a new round of decline after the end of the current rally, with long - term risks of falling below 4000 ringgit. Domestically, Dalian palm oil futures may encounter short - term resistance around 8650 yuan and should be watched for effective support around 8500 yuan. - CBOT soybean oil is mainly affected by the price trend of new - crop US soybeans and trade relations. Domestically, the spot basis is dragged down by the oil mill's full inventory, but the possibility of a large - scale reduction in the basis is low due to the expected limited soybean imports in the fourth quarter [1]. Corn - In the short term, the market sentiment is gradually digested. Corn's decline is limited due to the tight supply of remaining grain, and the futures price will fluctuate narrowly. It is recommended to wait and see the subsequent policy release [3]. Sugar - The global sugar supply is becoming more abundant, putting pressure on raw sugar prices. Although the low inventory in Guangxi supports the spot price, considering the expected increase in imports, the domestic sugar market is expected to be bearish after a rebound [8]. Cotton - The downstream cotton industry remains weak, and the overall demand is insufficient. The short - term domestic cotton price may oscillate in a higher range than in mid - June. However, if the downstream situation continues to deteriorate, there is a risk of price decline [10]. Meal - The domestic soybean and soybean meal inventories are rising, and the soybean meal basis is stable. However, with a high volume of arrivals expected, attention should be paid to the sustainability of demand. The soybean meal futures price is currently in the bottom - grinding stage [12]. Livestock (Pigs) - The current pig farming profit has returned to a low level, and the market is cautious about expanding production capacity. Although there is short - term bullish sentiment for a potential market improvement in July and August, the 09 contract is facing increasing upward pressure [16]. Eggs - The supply of eggs in the market is sufficient, but the price has reached a phased low. Traders may replenish their stocks at low prices, and the demand is expected to improve. Egg prices in most regions are expected to stabilize and then rise slightly, while a few regions may see a slight decline [18]. 3. Summary by Related Catalogs Fats and Oils - **Price Changes**: On July 9, 2025, compared with July 8, the spot price of Jiangsu first - grade soybean oil increased by 40 yuan to 8170 yuan, a 0.49% increase; the futures price of Y2509 decreased by 26 yuan to 7920 yuan, a 0.33% decrease. The spot price of Guangdong 24 - degree palm oil increased by 120 yuan to 8700 yuan, a 1.75% increase; the futures price of P2509 increased by 34 yuan to 8678 yuan, a 0.39% increase. The spot price of Jiangsu fourth - grade rapeseed oil increased by 50 yuan to 9680 yuan, a 0.52% increase; the futures price of OI509 decreased by 88 yuan to 9510 yuan, a 0.92% decrease [1]. Corn - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of corn 2509 decreased by 2 yuan to 2319 yuan/ton, a 0.09% decrease; the basis increased by 2 yuan to 41 yuan, a 5.13% increase. The futures price of corn starch 2509 increased by 1 yuan to 2677 yuan/ton, a 0.04% increase; the basis decreased by 1 yuan to 23 yuan, a 4.17% decrease [3]. Sugar - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of sugar 2601 increased by 17 yuan to 5606 yuan/ton, a 0.30% increase; the futures price of sugar 2509 increased by 32 yuan to 5779 yuan/ton, a 0.56% increase. The spot price in Nanning increased by 20 yuan to 6040 yuan, a 0.33% increase; the spot price in Kunming increased by 485 yuan to 6365 yuan, an 8.25% increase [7]. Cotton - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of cotton 2509 increased by 45 yuan to 13830 yuan/ton, a 0.33% increase; the futures price of cotton 2601 increased by 25 yuan to 13785 yuan/ton, a 0.18% increase. The commercial inventory decreased by 29.71 tons to 282.98 tons, a 9.5% decrease; the industrial inventory decreased by 2.71 tons to 90.30 tons, a 2.9% decrease [10]. Meal - **Price and Market Data**: On July 10, 2025, compared with the previous value, the spot price of Jiangsu soybean meal remained unchanged at 2800 yuan; the futures price of M2509 increased by 12 yuan to 2947 yuan, a 0.41% increase. The spot price of Jiangsu rapeseed meal remained unchanged at 2480 yuan; the futures price of RM2509 increased by 10 yuan to 2586 yuan, a 0.39% increase [12]. Livestock (Pigs) - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of live - hog 2511 decreased by 85 yuan to 13600 yuan/ton, a 0.62% decrease; the futures price of live - hog 2509 decreased by 10 yuan to 14265 yuan/ton, a 0.07% decrease. The spot price in Henan decreased by 970 yuan to 14080 yuan; the spot price in Shandong decreased by 1030 yuan to 14170 yuan [15]. Eggs - **Price and Market Data**: On July 10, 2025, compared with the previous value, the futures price of egg 09 contract increased by 17 yuan to 3596 yuan/500KG, a 0.47% increase; the futures price of egg 08 contract increased by 39 yuan to 3484 yuan/500KG, a 1.13% increase. The egg - to - feed ratio decreased by 0.10 to 2.19, a 4.37% decrease; the farming profit decreased by 6.27 yuan/feather to - 36.71 yuan/feather, a 20.60% decrease [18].