1. Report Industry Investment Ratings No industry investment ratings are provided in the reports. 2. Core Views of Each Report 2.1. Fats and Oils - Palm oil: Affected by production growth and export decline, the crude palm oil futures may face downward pressure after oscillating around the annual line, testing the support at 4,100 ringgit. Domestically, there is a risk of weakness for domestic palm oil futures, with attention on the support around 8,800 yuan [1]. - Soybean oil: In August, weather impacts on soybean crops increase. Although the latest US soybean good - rate is high, CBOT soybeans may fluctuate narrowly. Domestically, short - term basis quotes may be under pressure, but long - term support exists [1]. 2.2. Sugar - Brazilian sugar production in the second half of June was lower than expected. If the sugar - to - ethanol ratio is adjusted, production may not meet expectations. The short - term bottom of raw sugar prices may appear, but a bearish view is maintained considering the overall production increase. The domestic sugar market is expected to be marginally looser, with a bearish view after rebounds [3][4]. 2.3. Cotton - The demand side of the cotton industry is still weak, but the rising cotton price has led to a follow - up increase in yarn prices. The supply side faces some pressure from the sale of old cotton stocks, but the tight inventory situation is difficult to resolve before new cotton is listed. Short - term domestic cotton prices may oscillate at a high level, and face pressure after new cotton is listed [7]. 2.4. Eggs - The supply of eggs is sufficient, but high - temperature weather has reduced egg weight and laying rates, causing a shortage of large - sized eggs. With the start of the peak demand season, egg prices are expected to rise slightly this week and then stabilize [9]. 2.5. Corn - The corn auction on July 22 had a 27%成交 rate, and the market has digested the news. Supply is tightening due to factors like reduced willingness to sell and bad weather. Demand has some resilience. In the medium - term, supply is tight and demand is increasing, supporting prices. In the short - term, the market is stable, and the futures may oscillate strongly but with limited space [12][13]. 2.6. Meal - US soybeans are bottom - oscillating, and the expected August drought in the main production areas provides support. Brazilian soybeans are firm, but Chinese purchases of US soybeans may suppress Brazilian premiums. Currently, domestic soybean and soybean meal inventories are rising, and the basis is low. After October, the continuity of soybean arrivals is uncertain, and a cautious bullish operation is recommended [16]. 2.7. Pigs - The spot price of pigs is oscillating. Secondary fattening enthusiasm has declined, and market demand is weak, so prices are weak. There is no basis for a sharp decline, but the upside is limited. The futures are affected by macro funds, and caution is needed when chasing up prices in the far - month contracts [19]. 3. Summary According to Relevant Catalogs 3.1. Fats and Oils - **Price Changes**: - Soybean oil: The spot price in Jiangsu decreased by 0.24% to 8,350 yuan/ton, and the futures price (Y2509) decreased by 0.20% to 8,092 yuan/ton [1]. - Palm oil: The spot price in Guangdong increased by 0.33% to 9,000 yuan/ton, and the futures price (P2509) increased by 0.18% to 8,926 yuan/ton [1]. - Rapeseed oil: The spot price in Jiangsu decreased by 0.52% to 9,650 yuan/ton, and the futures price (01509) decreased by 0.90% to 9,477 yuan/ton [1]. 3.2. Sugar - **Price Changes**: - Futures: The price of sugar 2601 decreased by 0.30% to 5,653 yuan/ton, and the price of sugar 2509 decreased by 0.27% to 5,823 yuan/ton [3]. - Spot: The price in Nanning decreased by 0.17% to 6,050 yuan/ton, and the price in Kunming increased by 0.68% to 5,920 yuan/ton [3]. - **Industry Data**: - National sugar production increased by 12.03% to 1,116.21 million tons, and sales increased by 23.07% to 811.38 million tons [3]. 3.3. Cotton - **Price Changes**: - Futures: The price of cotton 2509 increased by 0.28% to 14,225 yuan/ton, and the price of cotton 2601 increased by 0.29% to 14,030 yuan/ton [7]. - Spot: The Xinjiang arrival price of 3128B decreased by 0.41% to 15,416 yuan/ton [7]. - **Industry Data**: - Northern inventory decreased by 10.2% to 254.24 million tons, and industrial inventory decreased by 2.3% to 88.21 million tons [7]. 3.4. Eggs - **Price Changes**: - The price of the egg 09 contract decreased by 0.41% to 3,621 yuan/500KG, and the price of the egg 08 contract decreased by 0.53% to 3,574 yuan/500KG [9]. - The egg - producing area price increased by 1.59% to 3.23 yuan/jin [9]. 3.5. Corn - **Price Changes**: - The price of corn 2509 increased by 0.09% to 2,322 yuan/ton, and the price of corn starch 2509 increased by 0.15% to 2,668 yuan/ton [12]. - **Industry Data**: - The early - morning remaining vehicles at Shandong deep - processing plants decreased by 35.29% to 132 [12]. 3.6. Meal - **Price Changes**: - The spot price of soybean meal in Jiangsu increased by 0.35% to 2,900 yuan/ton, and the futures price (M2509) increased by 0.43% to 3,069 yuan/ton [16]. - The spot price of rapeseed meal in Jiangsu increased by 0.34% to 2,630 yuan/ton, and the futures price (RM2509) increased by 0.18% to 2,727 yuan/ton [16]. 3.7. Pigs - **Price Changes**: - The price of the pig 2511 contract increased by 0.65% to 13,960 yuan/ton, and the price of the pig 2509 contract increased by 0.10% to 14,380 yuan/ton [19]. - **Industry Data**: - The daily slaughter volume of sample points decreased by 1.09% to 133,605 heads, and the monthly fertile sow inventory increased by 0.10% to 4,042 million heads [19].

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 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 【2011】1292号 | | | | 王凌辉 | Z0019938 | | 2025年6月11日 | | | | | | | 票 | | | | | | | | | 6月10日 | 6月9日 | 涨跌 | 涨跌幅 | | 现价 | 江苏一级 | 8140 | 8140 | 0 | 0.00% | | 期价 | Y2509 | 7434 | 7436 | -2 | -0.03% | | 墓差 | Y2509 | 706 | 704 | 2 | 0.28% | | 现货墓差报价 | 江苏6月 | 09+270 | 09+280 | -10 | - | | 仓单 | | 17652 | 17652 | O | 0.00% | | 棕櫚油 | | | | | | | | | 6月10日 | 6月9日 | 涨跌 | 张跌幅 | | 现价 | 广东24度 | 8600 | 8600 | 0 | 0.00% | | 期价 | P2509 | 7998 | 8036 | ...

农产品日报 | 2025-05-22 近期市场资讯，苹果库内货源整体交易较前略放缓，主流行情以稳为主，农忙阶段包装不快，多以前期包装货源 发运为主。西部产区客商货源交易稳定，现货商拿货尚可，存货商有序发市场为主；山东产区低价货源找货相对 较多，价格略硬；好货行情维持稳定，客商按需采购。销区市场市场走货尚可，下游批发商维持按需拿货，中转 库基本无积压。陕西洛川产区目前库内70#起步果农统货4.2-4.5元/斤，70#起步半商品4.5-5.0元/斤，以质论价。 山 东栖霞产区果农三级2.5-3元/斤，果农80#以上统货3-3.5元/斤，80#一二级条纹4.0-4.5元/斤，80#一二级片红3.8-4.0 元/斤。 市场分析 昨日苹果期价收跌，农忙时节，冷库包装不快，走货整体有所放缓，另外时令水果上市中，对苹果市场消费需求 有所影响，后续持续关注新果坐果情况。上周起，随着气温升高，时令水果逐渐上市，苹果终端需求略有下降， 替代果品后期或对苹果销售形成挤压。客商按需补货为主，小单车拿货减少，性价比较高的货源走货尚可。价格 方面，上周周内主产区晚富士价格整体稳定，好货价格稳定，山东部分产区次果价格略有上涨。整体来看，目 ...

| 油脂产业期现日报 | | | --- | --- | | 投资咨询业务资格:证监许可 [2011] 1292号 Z0019938 王浅辉 2025年5月12日 | | | 原田 | | | 5月8日 涨跌 涨跌幅 | | | 现价 江苏一级 8260 30 0.36% | | | 0.33% 期价 | | | 364 360 星差 4 1.11% | | | - | | | 8.80% | | | 棕榈油 | | | 5月8日 张跌幅 涨跌 | | | 0.35% | | | 0.86% | | | P2509 324 364 -40 星差 -10.99% | | | - | | | 0.40% | | | 13.26% | | | 仓单 330 330 0 0.00% | | | 菜籽油 | | | 26666 5月8日 涨跌 涨跌幅 | | | 0.00% | | | 0.64% | | | 墓差 01509 20 80 -60 -75.00% | | | 现货墓差报价 江苏5月 09+120 09 + 100 20 - | | | じ車 1707 1229 478 - | | | 价差 | | | ...