1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The agricultural sector showed a volatile trend before the Spring Festival, with different trends and influencing factors for each sub - industry [1] - Different agricultural products have different outlooks, such as some are expected to oscillate, some are expected to be weak, and some are expected to strengthen [1][2][5][6] 3. Summary by Relevant Catalogs 3.1. Market Views - **Oils and Fats**: Futures prices declined due to light pre - holiday spot trading and capital flight. Supply of soybeans and rapeseeds is ample. Palm oil is about to enter the destocking stage. Demand depends on biodiesel policies and export performance. It is recommended to consider buying hedging at low callback levels [1][5][6] - **Protein Meal**: International soybean prices are affected by export expectations and South American weather, and are operating in the range of 1130 - 1160. Domestic soybean meal shows a pattern of near - term strength and long - term weakness. After the festival, prices are expected to be weak. It is not recommended to chase up prices before the festival [7] - **Corn**: Affected by industry news and sentiment, futures are strongly volatile. After the festival, focus on traders' delivery and inventory replenishment rhythms [9] - **Pigs**: Supply is abundant, and prices are expected to be weak before and after the Spring Festival. The industry is recommended to consider short - selling hedging opportunities in the first half of the year, and prices may pick up in the second half of the year [10] - **Natural Rubber**: The price fluctuates slowly before the festival, maintaining an upward trend. The current trading logic is mainly macro - influenced, and the fundamentals are relatively weak but the expectations are good. The market is expected to remain volatile [13] - **Synthetic Rubber**: The BR market maintains a high - level range - bound pattern. The mid - term core logic is the expectation of tight supply of butadiene in the first half of 2026. It is expected to be volatile and strong in the medium term [15] - **Cotton**: The fundamentals have not changed much. The price has rebounded slightly. After the festival, with the arrival of the peak demand season, the price may strengthen. In the long - term, it is expected to be volatile and strong [16] - **Sugar**: In the medium - to - long term, the price is expected to be volatile and weak due to the expected global supply surplus in the new sugar - making season [17] - **Pulp**: The spot price is almost stagnant, and the futures fluctuate independently. The supply - demand is weak before the festival and is expected to improve after the festival. The futures are expected to be volatile [18] - **Double - Glue Paper**: The market is winding down at the end of the year, and the price rebounds with reduced positions. Before the festival, the trading is weak, and it is expected to be stable in the short - term and volatile and weak in the range [19] - **Logs**: The pre - holiday trading is basically stagnant. The price is expected to remain range - bound in the short - term, and there is a risk of weakening in the medium - term without new positive factors [21] 3.2. Variety Data Monitoring - **Oils and Fats**: Not provided with specific data analysis content - **Protein Meal**: Not provided with specific data analysis content - **Corn and Starch**: Not provided with specific data analysis content - **Pigs**: Not provided with specific data analysis content - **Cotton and Cotton Yarn**: Not provided with specific data analysis content - **Sugar**: Not provided with specific data analysis content - **Pulp and Double - Glue Paper**: Not provided with specific data analysis content - **Logs**: Not provided with specific data analysis content 3.3. Commodity Index - The comprehensive index, special index, and sector index of CITIC Futures commodities all showed an upward trend on February 12, 2026. For example, the comprehensive index increased by 0.49%, the commodity 20 index increased by 0.53%, the industrial products index increased by 0.42%, and the PPI commodity index increased by 0.29%. The agricultural product index increased by 0.44% on that day, with a 0.56% increase in the past 5 days, a - 0.71% change in the past month, and a 0.20% increase since the beginning of the year [182][183]

Group 1 - The event "2026 Guyuan Agricultural, Cultural, and Tourism Promotion and Liupan Mountain New Year Goods Fair (Xi'an Station)" was held in Xi'an, focusing on the theme "Minning Together, Connecting Three Qin for a Win-Win Future" [1] - The fair featured 48 exhibition booths showcasing local agricultural products such as Liupan Mountain beef and lamb, cool-season vegetables, and potatoes, along with cultural tourism products [1] - A customized gift box named "Minning Family" was launched, including eight categories of New Year goods, and a green channel for corporate group purchases was established [1] Group 2 - Private enterprises from Shaanxi, including Zhuque Industrial Group, actively participated in various activities during the event, promoting one-on-one negotiations between businesses from both regions [2] - The Shaanxi Ningxia Chamber of Commerce emphasized its role in facilitating economic and cultural exchanges between Shaanxi and Ningxia, aligning with national regional development strategies [2] - Future efforts will focus on deepening cooperation with Guyuan City in areas such as agricultural, cultural, and tourism integration, as well as upgrading specialty industries [2]

Core Viewpoint - The article highlights the successful implementation of rural revitalization in Yudu County, Jiangxi Province, focusing on the development of a livable and prosperous countryside through agricultural innovation and community engagement [1][2]. Group 1: Agricultural Development - The establishment of a selenium-rich vegetable industry park in Tanzhou Village has significantly increased local farmers' incomes, with average annual income rising from 19,000 yuan in 2021 to 28,000 yuan in 2025, an increase of over 40% [6]. - The county has built 186 selenium agricultural demonstration bases covering 100,000 acres, with a total industrial chain output value exceeding 6 billion yuan, benefiting over 12,000 people [6][12]. - The introduction of a "leading enterprise + cooperative + party branch + farmer" model has improved production efficiency, with average yields increasing by 20% [6]. Group 2: Community Engagement and Infrastructure - The village has seen significant improvements in infrastructure, including roads, water supply, and sanitation facilities, enhancing the quality of life for residents [10][11]. - Community initiatives have fostered a sense of ownership among villagers, with over 160 households participating in tourism-related investments, leading to increased collective economic income [15]. - The establishment of a "civilization points system" encourages community participation in local governance and volunteerism, promoting a culture of mutual support and cooperation [16]. Group 3: Tourism and Economic Growth - The development of rural tourism has attracted over 160,000 visitors in 2025, generating more than 3.55 million yuan in collective income for the village [11]. - Local businesses, such as a snack shop run by a villager, have thrived due to the influx of tourists, creating additional employment opportunities [12]. - The integration of agricultural and tourism development has maximized the value of local products, enhancing market competitiveness and overall economic benefits [6][11].

近年来，瓮安县税务局聚焦涉农企业发展需求，以精准政策辅导、贴心办税服务助力本地企业规范经营、提档升 级，推动企业以合规为基础扩大生产规模，带动周边农户增收致富，绘就税企携手助力乡村振兴的生动图景。 贵州省方路源菜籽油有限公司位于瓮安县玉山镇，深耕菜籽油加工领域，2025年已实现了产量300余吨，产值超过 200万元，成为本地涉农产业的中坚力量。为进一步做强特色产业，主动谋求发展突破，公司负责人远赴西北农林 科技大学接受系统培训，引进油菜高产品种进行推广种植，并创新采用"公司+农户"合作模式，让油菜产业成为带 动乡村发展、农户增收的富民产业。 在企业扩产升级的关键阶段，瓮安县税务局主动靠前、精准对接，组建专业服务团队上门开展涉税辅导，为企业 发展保驾护航。 税务干部为企业负责人讲解税费政策。 同时，围绕纳税信用等级提升开展专项指导，帮助企业完善财务管理制度、规范涉税申报流程，引导企业树立诚 信纳税、合规经营的发展理念，为企业长远发展积累"信用资产"。 "税务部门的辅导太及时了，不仅让我们吃透了政策、理清了流程，更让我们找准了合规经营的方向，发展的底气 更足了!"该公司负责人、瓮安县人大代表方荣峰感慨，"我们今年 ...

2月12日主力资金净流出130.92万元，散户资金则呈现小幅流入，反映出当前市场存在一定分歧。 经济观察网嘉华股份（603182）近7日股价呈现震荡走势，区间微跌0.12%，振幅4.62%。2月9日股价上 涨1.78%，成交活跃，随后几个交易日小幅回调，截至2月12日收盘报16.20元，当日下跌1.16%。技术面 上，股价在布林带中轨附近波动，短期动能偏弱。资金流向显示，2月12日主力资金净流出130.92万 元。 股票近期走势 股价在20日布林带中轨(16.15元)附近波动，上方压力位关注16.54元，下方支撑位参考15.72元。MACD 指标显示短期动能偏弱，但整体仍处于震荡区间。 资金走向 板块变化情况 同期，公司所属的农林牧渔板块整体下跌1.49%，农产品加工板块下跌1.11%，公司股价表现略强于行 业平均水平。 以上内容基于公开资料整理，不构成投资建议。 ...

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，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 红枣产业日报 2026-02-12 慎预期。长假临近，注意风险控制。 研究员: 王翠冰 期货从业资格号F03139616 期货投资咨询从业证书号Z0021556 免责声明 | 项目类别 | 数据指标 环比 | 最新 | 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:红枣(日,元/吨) -40 主力合约持仓量:红枣(日,手) | 8855 | | 107927 | -5662 0 | | | 期货前20名持仓:净买单量:红枣(日,手) 508 仓单数量:红枣(日,张) | -14493 | | 3673 | | ...

二、市场信息 1、据农业农村部监测，2 月 9 日"农产品批发价格 200 指数"为 129.51，比上周五下降 0.25 个点，"菜篮 子"产品批发价格指数为 132.33，比上周五下降 0.29 个点。截至今日 14:00 时，全国农产品批发市场猪肉 平均价格为 18.34 元/公斤，与上周五持平；牛肉 66.08 元/公斤，比上周五下降 0.6%；羊肉 64.51 元/公斤， 比上周五上升 0.1%；鸡蛋 8.39 元/公斤，比上周五下降 1.4%；白条鸡 17.18 元/公斤，比上周五下降 1.3%。 农产品日报（2026 年 2 月 12 日） 一、研究观点 | 点评 | 品种 | | 观点 | | --- | --- | --- | --- | | 周三，玉米主力 | | 2605 增仓上行，日线以长阳线收盘，期价大涨突破震荡区间上 | | | 沿，宏观和资金引领占据主导。本周受大豆上涨影响，玉米期价止跌上行。春节 | | | | | 前一周玉米 | | 3 月合约持仓向 5 月转移，现货休市等待期货方向指引。目前，市场 | | | 购销已不活跃，东北玉米价格以稳定为主。基层农户售粮积极性不高，产 ...

Core Viewpoint - The collaboration between Shandong and Gansu provinces focuses on consolidating poverty alleviation achievements and promoting rural revitalization through industrial cooperation, livelihood support, and regional synergy, with significant progress made in various sectors over the past year [2][9]. Industrial Cooperation - Shandong and Gansu have implemented 526 assistance projects, attracting 170 enterprises to invest in Gansu, leading to the employment and income increase of 65,800 rural laborers from Gansu [2][5]. - In Linxia Prefecture, Shandong invested 140 million yuan to support the development of the cattle and sheep industry cluster, resulting in a total industrial chain output value of 31.1 billion yuan [3]. - The two provinces are developing four major specialty agricultural industry belts, with a planting area of 1.77 million acres, enhancing market access for local products [3][5]. Livelihood Empowerment - The collaboration emphasizes improving living standards, with Shandong sending 70 officials and 744 technical professionals to Gansu, establishing medical and educational support programs [6][8]. - In 2025, the sales of Gansu agricultural products in Shandong are projected to reach 4.323 billion yuan, with 980 million yuan exported to countries like the USA, Japan, and South Korea [8][11]. Regional Synergy - A comprehensive cooperation mechanism has been established, with Shandong and Gansu forming partnerships between 19 counties in Shandong and 24 counties in Gansu, enhancing the effectiveness of collaborative efforts [9][11]. - The two provinces are focusing on four key actions: enhancing specialty industries, building industrial clusters, consumer support, and improving labor cooperation, expanding collaboration into multiple sectors [9][11]. Cultural and Tourism Integration - The collaboration has led to the creation of tourism routes and promotional activities, with Shandong tourists to Gansu expected to exceed 8.2152 million by 2025, marking a 6.93% increase [11][13]. - Efforts are being made to cultivate local talent in Gansu, ensuring sustainable development and self-reliance through technology transfer and management experience sharing [11][13].

投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 资讯早班车-2026-02-12 一、 宏观数据速览 专业研究·创造价值 1 / 15 请务必阅读文末免责条款 期货研究报告 二、商品投资参考 综合 | 发布日期 | 指标日期 | 指标名称 | 单位 | 当期值 | 上期值 | 去年同期值 | | --- | --- | --- | --- | --- | --- | --- | | 2026-01-19 | 2025/12 | GDP:不变价:当季同比 | % | 4.5 | 4.8 | 5.4 | | 2026-01-31 | 2026/01 | 制造业 PMI | % | 49.3 | 49.0 | 49.1 | | 2026-01-31 | 2026/01 | 非制造业 PMI:商务活动 | % | 49.4 | 50.1 | 50.2 | | 2026-01-15 | 2025/12 | 社会融资规模:当月值 | 亿元 | 22075 | 35299 | 28537 | | 2026-01-15 | 2025/12 | M0:同比 | % | 10.2 | 11.5 | 13.0 | ...

投资咨询业务资格 沪证监许可[2015]84 号 商品日报 20260212 联系人 李婷、黄蕾 电子邮箱 jytzzx@jyqh.com.cn 主要品种观点 宏观：美国 1 月非农超预期，A 股延续缩量修复 海外方面，美国 1 月非农新增 13 万，显著高于预期的 7 万，创去年 4 月以来新高；失 业率降至 4.3%，时薪环比 0.4%，均强于预期，显示 1 月就业仍具韧性。与此同时，年度基 准修正力度较大：截至 2025 年 3 月的 12 个月非农就业总规模下调 86.2 万，经修正后，2025 年全年新增仅 18.1 万，远低于此前公布的 58.4 万，目前就业市场呈现"单月偏强"与"中 期动能放缓"的分化，后续仍待数据验证。数据发布后，市场降息预期有所延后，美股高开 低走，美元指数震荡上行，10Y 美债利率回升至 4.17%，金银铜延续震荡修复，油价上涨约 1%。今日关注最新初请失业金人数。 国内方面，1 月 CPI 同比录得 0.2%，弱于预期 0.4%，核心 CPI 回落至 0.8%，春节错月 推高上年同期基数，形成同比回落，其中猪肉、能源、旅游服务价格较为疲软；PPI 同比录 得-1.4%， ...