Report Industry Investment Ratings - **Buy**: Soybean Meal, Soybean Oil, Corn, Eggs [1] - **Neutral**: Soybean, Rapeseed Meal, Rapeseed Oil, Palm Oil, Live Pigs [1] Core Views - The report provides investment ratings and analysis for various agricultural products, including soybeans, soybean meal, soybean oil, palm oil, rapeseed meal, rapeseed oil, corn, live pigs, and eggs. It analyzes the market trends, supply and demand, and policy factors of each product and provides corresponding investment strategies [1][2][3][4][6][7][8][9]. Summary by Product Soybean - Policy - end auction sales show high premiums and high transaction rates, guiding prices. The spot market features high - quality products at high prices, with tight supply at the grass - roots level. Price increases suppress demand. Short - term focus on policy and spot market [2]. Soybean & Soybean Meal - South American weather is improving, with a 75% probability of La Nina turning ENSO neutral in Q1. South American high - yield expectations are back. US soybean exports are strengthening, with 2.06 million tons of net sales in the week ending January 8, up 54% from the four - week average. China's major oil mills are expected to crush about 8 million tons of soybeans in January. Monitor US soybean exports and South American weather [3]. Soybean Oil & Palm Oil - US biofuel policy is more certain, with expected increased demand in the 26/27 market year. US soybean and soybean oil prices are expected to be volatile and bullish. Palm oil in Malaysia faces short - term high - inventory pressure. Long - term supply constraints need careful observation. Overall, a range - bound view for soybean and palm oil [4]. Rapeseed Meal & Rapeseed Oil - China - Canada trade arrangements may lead to a reduction in tariffs on Canadian rapeseed. Under 15% import tariffs, Canadian rapeseed has good profit margins. If the import policy improves, it may drive purchases. A short - term bearish view on rapeseed products [6]. Corn - Snow in the Northeast boosts bullish sentiment, with difficult grain transportation. Spot prices in the Northeast and North Port are strong. Mid - and downstream inventories are low. After New Year's Day, state and local reserve auctions increase, creating pressure. Dalian corn futures are expected to be volatile and bearish in the short term [7]. Live Pigs - On Monday, the sentiment of live pig futures changed. Weekend price increases due to snow and second - round fattening were reversed by short - selling. In 2025, pig slaughter and pork production increased year - on - year. The sow inventory decreased, and pig prices are expected to hit a low in H1 2026 [8]. Eggs - After New Year's Day, egg spot prices strengthened due to reduced supply and pre - Spring Festival stocking. The futures market followed the spot market. On Monday, the futures fell, possibly indicating the end of the pre - holiday rally. In the long - term, the in - production hen inventory is expected to decline, and a buy - on - dips strategy is recommended [9].