Core Viewpoint - The article emphasizes the importance of agricultural modernization and rural revitalization in achieving Chinese-style modernization, highlighting the government's commitment to enhancing agricultural productivity and farmers' income [2][3][8]. Agricultural Production and Modernization - The total grain production in China is expected to remain stable at 1.4 trillion jin for the year, with summer grain and early rice showing increased yields [3]. - The implementation of modern agricultural practices, including the use of technology and standardized operations, has led to significant increases in crop yields, with some farmers reporting an average increase of 50 kg per mu [4]. - Agricultural technology progress has reached a contribution rate of 63.2%, with over 75% of farming mechanization and more than 96% of crop varieties covered by quality seeds [6]. Farmers' Income and Living Standards - The average disposable income for rural residents reached 23,119 yuan, with a year-on-year growth of 6.2% in the first half of the year [9]. - The income disparity between urban and rural residents has decreased, with the urban-rural income ratio dropping from 2.56 in 2020 to 2.34 [9]. - Farmers are increasingly engaging in diverse agricultural activities, such as agritourism and value-added products, contributing to their income growth [5][12]. Rural Revitalization and Community Development - The "Thousand Villages Demonstration, Ten Thousand Villages Renovation" project has significantly improved rural infrastructure and living conditions, with 94% of rural areas having access to clean water and over 90% of villages connected to 5G [11]. - Cultural initiatives and community engagement have been promoted, with various cultural activities enhancing the spiritual life of rural residents [10]. - The integration of urban and rural development is being prioritized, with a focus on creating a more interconnected and prosperous rural economy [13].

摄像 蔡成干 薛珂 视频制作 韩汝鑫 王靖舒 殷晨睿 一颗来自贵州山野的"黄金果实"，以其饱满的阳光能量与健康密码，向世界递出一张绿色名 片。"金刺梨"是安顺特色品种，目前安顺已开发出金刺梨相关产品40余种，全市金刺梨种植面积达7.5 万亩，深加工企业达到10家，全产业链总产值达5亿元，成为带动农民增收、助力乡村全面振兴的重要 富民产业。产品成功进入新西兰、俄罗斯、巴西、泰国等国际市场。 这不仅是一次味蕾的探索，更是一场关于自然、健康与共赢的对话，让世界品尝到中国山野的慷慨 馈赠。 统筹 李志强 叶琦 ...

Core Insights - The oat industry in Ulanqab City, Inner Mongolia, is experiencing significant growth, with a complete industrial chain established to promote rural revitalization [1][2][3] - The city has developed a strong seed breeding base and introduced high-yield oat varieties, enhancing both yield and quality [2] - The focus on deep processing of oats has led to a diverse range of products, increasing the added value of the oat industry [2][3] Group 1: Industry Development - Ulanqab City is a key oat production area in China, with favorable climate conditions contributing to high-quality oat cultivation [1] - The city has established a complete industrial chain for oats, including cultivation, processing, and marketing, which supports rural economic development [1][3] - The area has seen the emergence of six large oat processing enterprises and over 200 small and medium-sized enterprises, expanding the market reach of oat products [1][2] Group 2: Seed and Cultivation - The establishment of a national oat seed breeding base and the "look at the grain and select seeds" platform has facilitated the development of new oat varieties [2] - The "company + cooperative + large grower" model has been implemented to enhance planting efficiency and expand order-based cultivation [2] - By 2024, Ulanqab City aims to reach an oat planting area of 1.05 million acres and a production volume of 85,000 tons, ranking among the top in the country [2] Group 3: Product Diversification and Marketing - The city is focusing on developing healthy and convenient oat products, with annual production capacity exceeding ten thousand tons [3] - Ulanqab City is enhancing its marketing strategies by establishing flagship stores in major cities and leveraging online platforms for sales [3] - The ongoing efforts to strengthen the "Ulanqab Oat" regional public brand aim to further boost sales and support farmers' income [3]

Group 1 - The domestic oilseed market is experiencing a downward trend, with soybean meal futures showing a decline of approximately 3.60% [1] - Current soybean supply in China is ample due to high import volumes and oil mills maintaining high operating levels, leading to rising soybean meal inventories [1] - The USDA report has adjusted the U.S. soybean planting area upwards to 81.1 million acres while lowering the yield estimate to 53.5 bushels per acre, impacting market expectations [2] Group 2 - The market sentiment is cautious due to the ongoing U.S.-China trade negotiations, with potential volatility expected from social media statements by U.S. officials [1] - Argentina's temporary cancellation of export taxes on soybean oil and meal is expected to exert short-term pressure on the soybean complex [2] - The soybean harvest in the U.S. is underway, which is anticipated to increase supply pressure in the market [2]

Group 1: Report Industry Investment Rating - The investment strategy for the industry is neutral [4] Group 2: Core View of the Report - Argentina's temporary cancellation of soybean export taxes, smooth sowing in South America, and the near - full realization of the US's high - yield expectations have led to a further loosening of the overall soybean supply, which may put pressure on oil prices [3] Group 3: Market Analysis Futures - The closing price of the palm oil 2601 contract was 9360.00 yuan/ton, with a daily change of +44 yuan (+0.47%); the closing price of the soybean oil 2601 contract was 8366.00 yuan/ton, with a daily change of +38.00 yuan (+0.46%); the closing price of the rapeseed oil 2601 contract was 10143.00 yuan/ton, with a daily change of +75.00 yuan (+0.74%) [1] Spot - In the Guangdong region, the spot price of palm oil was 9260.00 yuan/ton, with a daily change of +10.00 yuan (+0.11%), and the spot basis was P01 + - 100.00, with a daily change of - 34.00 yuan; in the Tianjin region, the spot price of first - grade soybean oil was 8530.00 yuan/ton, with a daily change of +20.00 yuan/ton (+0.24%), and the spot basis was Y01 + 164.00, with a daily change of - 18.00 yuan; in the Jiangsu region, the spot price of fourth - grade rapeseed oil was 10360.00 yuan/ton, with a daily change of +70.00 yuan (+0.68%), and the spot basis was OI01 + 217.00, with a daily change of - 5.00 yuan [1] Group 4: Recent Market News Argentina's Policy - On September 22, the Argentine government temporarily cancelled export taxes on soybeans, soybean derivatives (such as soybean meal and soybean oil), corn, and wheat until October 31 or until export volume reaches $7 billion, aiming to increase foreign exchange supply and curb the decline of the local currency [2] Brazil's Agricultural Situation - As of last Thursday, Brazil's soybean sowing area for the 2025/26 season reached 0.9% of the expected total area, with significant increases in field operations in Paraná, Mato Grosso, Rondônia, and São Paulo states, at the same level as the same period last year. The Brazilian Oilseed Processing Association (Abiove) expects Brazilian soybean processing enterprises to invest 5.9 billion reais ($1.11 billion) in the next 12 months, which will increase the country's soybean crushing capacity by 8% (about 6 million tons per year) [2] US Agricultural Situation - A US private exporter reported selling 320,068 tons of corn to Mexico for delivery in the 2025/2026 season. As of the week ending September 18, 2025, the US soybean export inspection volume was 484,116 tons, compared with 821,809 tons the previous week. The cumulative US soybean export inspection volume for the current crop year was 1,569,777 tons, compared with 1,246,429 tons in the same period last year [2]

Core Viewpoint - The event held in Yan Shou Town aims to promote the local chestnut industry and support rural revitalization through various activities, including chestnut tasting and industry promotion [1][3]. Group 1: Industry Development - Yan Shou Town has embraced the concept of "green mountains and clear waters are invaluable assets," focusing on ecological priority and green development [3]. - The chestnut industry in Yan Shou Town has a planting area of 50,000 acres, with an annual production exceeding 500 tons, forming a product system known as the "Three Treasures of Yan Shou" [5]. - The town has developed deep processing products such as chestnut kernels, chestnut mushroom sauce, and chestnut beer, significantly enhancing the added value of agricultural products [5]. Group 2: Economic Impact - In the first half of 2025, tourism revenue in Yan Shou Town increased by 204.66% year-on-year, while local revenue grew by 78.34%, highlighting the economic impact of the chestnut industry [5]. - The integration of agriculture, culture, tourism, and commerce has led to the development of multiple themed tourism routes, promoting the interconnected growth of scenic spots, homestays, and characteristic villages [5]. Group 3: Business Environment - Yan Shou Town has implemented innovative measures to support industry development, including a trial method for processing business licenses and establishing a technology incubator platform to attract quality social capital [7]. - Collaborations with 13 universities, including Tsinghua University and Peking University, have been established to provide intellectual and talent support for industry development [7]. - The town has successfully created a multi-industry development model, including well-known commercial brands like "Heishan Barbecue" and "Yan Shou Coffee," opening new pathways for farmers to increase income [7]. Group 4: Future Plans - Yan Shou Town plans to deepen the integration of agriculture, culture, tourism, and commerce, accelerate the construction of a 60-kilometer "Yan Shou Trail," and develop a new tourism pattern [7]. - The town is preparing for the 2026 Yan Shou Cross-Country Challenge to create a "Sports+" industry ecosystem and enhance public service facilities to improve living conditions [7].

Report Industry Investment Ratings No relevant information provided. Core Views Oils and Fats - Palm oil is expected to gradually rise due to positive fundamentals, with Dalian palm oil futures potentially following suit and starting an upward trend [1]. - Soybean oil is under pressure from seasonal harvest and Sino - US trade disputes, but the expected decrease in soybean imports in the fourth quarter may provide long - term support [1]. Sugar - International raw sugar is expected to remain in a bottom - oscillating pattern due to oversupply, while domestic sugar is likely to continue its weak performance [3][4]. Grains and Oilseeds - US soybeans are under pressure, and domestic oilseed meal is expected to maintain a weak - oscillating rhythm due to sufficient supply [6]. Cotton - Medium - term domestic cotton prices may face pressure due to weak demand and high hedging pressure [9]. Corn - The corn market is expected to remain weak in the short term, with attention on new grain purchase rhythms and opening prices [10]. Eggs - Egg prices are expected to oscillate within a bottom - range due to sufficient supply and uncertain demand [15]. Pigs - The pig market has a clear supply recovery pattern, with near - month contracts maintaining weak adjustments, and attention on 1 - 5 and 3 - 7 reverse spread opportunities [17][18]. Summary by Related Catalogs Oils and Fats - **Prices**: On September 22, 2025, soybean oil spot price in Jiangsu remained unchanged at 8620 yuan/ton, palm oil spot price in Guangdong decreased by 0.32% to 9270 yuan/ton, and rapeseed oil spot price in Jiangsu increased by 0.29% to 10210 yuan/ton [1]. - **Spreads**: The three - oil 01 - 05 spread increased by 4.35% to 288 yuan/ton, the palm oil 01 - 05 spread increased by 1.98% to 206 yuan/ton, and the rapeseed oil 01 - 05 spread increased by 1.00% to 505 yuan/ton [1]. Sugar - **Futures Market**: On September 22, 2025, the price of SR2601 decreased by 0.16% to 5452 yuan/ton, and the price of SR2605 decreased by 0.26% to 5432 yuan/ton [3]. - **Spot Market**: The spot price in Nanning decreased by 0.51% to 5800 yuan/ton, and the spot price in Kunming decreased by 0.43% to 5820 yuan/ton [3]. - **Industry Situation**: National sugar production increased by 12.03% year - on - year to 1116.21 million tons, and national sugar sales increased by 12.87% year - on - year to 1000 million tons [3]. Grains and Oilseeds - **Prices**: On September 22, 2025, the spot price of soybean meal in Jiangsu remained unchanged at 2950 yuan/ton, the spot price of rapeseed meal in Jiangsu remained unchanged at 2600 yuan/ton, and the spot price of soybeans in Harbin remained unchanged at 3980 yuan/ton [6]. - **Spreads**: The soybean meal 01 - 05 spread increased by 10.53% to 252 yuan/ton, the rapeseed meal 01 - 05 spread increased by 14.81% to 155 yuan/ton, and the soybean - rapeseed meal 2601 spread increased by 2.85% to 506 yuan/ton [6]. Cotton - **Futures Market**: On September 22, 2025, the price of CF2605 decreased by 0.66% to 13812 yuan/ton, and the price of CF2601 decreased by 0.80% to 13610 yuan/ton [9]. - **Spot Market**: The Xinjiang arrival price of 3128B decreased by 0.34% to 15146 yuan/ton, and the CC Index of 3128B decreased by 0.39% to 15224 yuan/ton [9]. - **Industry Situation**: Warehouse inventory decreased by 20.6% month - on - month to 117.59 million tons, and industrial inventory decreased by 3.4% month - on - month to 86.21 million tons [9]. Corn - **Futures Market**: On September 22, 2025, the price of C2511 decreased by 0.97% to 2147 yuan/ton, and the price of CS2511 decreased by 1.30% to 2431 yuan/ton [10]. - **Spot Market**: The FOB price at Jinzhou Port increased by 0.88% to 2300 yuan/ton, and the spot price of corn starch in Changchun remained unchanged at 2560 yuan/ton [10]. - **Spreads**: The C11 - 3 spread decreased by 200.00% to - 1 yuan/ton, and the CS11 - 3 spread decreased by 45.00% to - 29 yuan/ton [10]. Eggs - **Prices**: On September 22, 2025, the price of the JD11 contract decreased by 1.19% to 3075 yuan/500KG, and the price of the JD10 contract decreased by 1.42% to 2982 yuan/500KG [14]. - **Related Indicators**: The egg - feed ratio increased by 7.95% to 2.85, and the breeding profit increased by 135.13% to 3.20 yuan/feather [14]. Pigs - **Futures Market**: On September 22, 2025, the price of LH2511 decreased by 0.23% to 12795 yuan/ton, and the price of LH2601 decreased by 0.04% to 13345 yuan/ton [17]. - **Spot Market**: The spot price in Henan decreased by 200 yuan/ton to 12700 yuan/ton, and the spot price in Shandong decreased by 50 yuan/ton to 12850 yuan/ton [17]. - **Related Indicators**: The sample slaughterhouse daily volume decreased by 0.24% to 153248, and the self - breeding profit per week decreased by 245.13% to - 24 yuan/head [17].

Group 1: Core Financial Initiatives - Jiangsu Bank actively injects financial energy into agricultural production, supporting the autumn harvest with tailored financial products and efficient services [1] - The "Agricultural Machinery e-Loan" product addresses long-standing financing difficulties in the agricultural machinery sector, offering automated credit loans of up to 10 million yuan for manufacturers and 3 million yuan for dealers [1][3] - The "Su Nong Loan" has been upgraded to support online applications and flexible financing based on daily purchasing progress, effectively assisting grain enterprises in seizing quality grain sources [4] Group 2: Support for Agricultural Enterprises - Wuxi Yuitian Agricultural Machinery Technology Co., Ltd. received a 3 million yuan credit loan through "Agricultural Machinery e-Loan" to enhance liquidity and expedite machinery production for the autumn harvest [3] - Jiangsu Bank's financial support has enabled agricultural enterprises to purchase new harvesting and drying equipment, ensuring timely installation and operation for the autumn harvest [3] - The "Common Prosperity Loan" has been instrumental in alleviating funding pressures for rural enterprises, facilitating the growth of local agricultural industries and enhancing farmers' incomes [5][7] Group 3: Impact on Rural Development - The "Common Prosperity Loan" has effectively stimulated rural economic vitality, addressing financing pain points for collective economic organizations and new agricultural operators [5] - Jiangsu Bank's support for the "Huaian Qianshi" geographical indication product has helped local enterprises establish a comprehensive service model, significantly increasing employment and income for local farmers [8] - The bank's commitment to rural revitalization is reflected in its ongoing efforts to meet the financial needs of local agricultural talents and collective organizations through various loan products [10]

Report Summary 1. Report Industry Investment Ratings No specific industry investment ratings are provided in the report. 2. Core Views - The overall view of the report is to provide short - term evaluations and trading suggestions for various commodities and financial products, including analysis of supply - demand relationships, price trends, and market sentiment [1][2][4]. 3. Summary by Product Crude Oil - Kuwait's crude oil production will increase to 2559000 barrels per day from October, and OPEC+ will increase production by 137000 barrels per day in October. The global crude oil supply is abundant, and the price is under pressure. It is advisable to sell on rallies [1]. Rubber - Rubber is in a situation of low inventory and weak demand. Due to typhoon - affected tapping and insufficient cost support, and weak downstream demand after pre - holiday restocking, it should be treated with a neutral view [2]. Steel and Related Products - **Steel**: In the "Golden September", steel demand is slowly recovering. With appropriate production control by building material steel mills, the supply - demand relationship has slightly improved. Before the National Day, steel mills need to replenish stocks, and the cost supports steel prices. Short - term steel prices may fluctuate at a high level, but the upward space is limited [4]. - **Iron Ore**: The global iron ore shipping volume fluctuates at a high level, and the arrival volume increases. Iron water production may rise, and port inventory is expected to accumulate. Iron ore prices may fluctuate in a narrow range [4]. - **Coke**: After the second - round price cut, coking profits turn negative, and coke production slightly decreases. Iron water production increases, and the demand for coke is well - supported. The pre - holiday restocking of the middle and lower reaches provides demand support, and the spot price stabilizes. Attention should be paid to the iron water production in the peak season [5]. Livestock and Agricultural Products - **Pig**: The national pig price is weakly stable. The market's resistance to price drops increases, and the decline slows down. However, the pressure on farmers to sell remains, and the price has not stopped falling. After continuous price drops, farmers' willingness to hold prices increases. Short - term long positions can be tried, and attention should be paid to the slaughter rhythm of large farms and demand recovery [6]. - **Soybean**: With the increase in the supply of new soybeans, the supply pressure in the market will increase. The downstream demand has not improved significantly, and domestic soybean prices are expected to continue to be under pressure in the short term [7]. Fats and Oils - **Palm Oil**: In Malaysia, palm oil production and exports in September decreased. The international palm oil market has high inventories, and the demand in India and China is weak. The price is expected to fluctuate weakly in the short term [8]. Chemical Products - **PX**: As PX maintenance devices restart and short - process efficiency is good, the supply increases. PTA maintenance devices resume work, and the terminal recovery is limited. PX supply and demand are expected to increase, and the overall supply is relatively loose. It should be treated with a weak - neutral view [9]. - **Methanol**: Domestic methanol production decreases from a high level, downstream demand recovers, and imports are expected to remain high in September. Port inventory continues to accumulate. The 01 contract is expected to fluctuate weakly in the short term, and it is recommended to wait and see [10]. - **Soda Ash**: The price of soda ash is relatively stable. Production decreases slightly, and inventory decreases. The demand from the float glass industry is weak. The 01 contract is expected to fluctuate in the short term. It is recommended to wait and see or do short - term long positions on pullbacks [11]. - **Polypropylene**: Polypropylene production is relatively stable, new production capacity pressure is released, and the overall supply is abundant. Commercial inventory decreases, and demand is slowly improving. The 01 contract is expected to fluctuate in the short term. It is recommended to wait and see or do short - term long positions on pullbacks [13]. Financial Products - **Treasury Bonds**: China's monetary policy adheres to a domestic - centered approach. After the Fed's interest rate cut, the bond market may be slightly positive, but the upward space is limited. Treasury bonds are expected to fluctuate in the short term [13]. - **Precious Metals** - **Gold**: Geopolitical risks and the decline of the US dollar index are beneficial to gold. The independence of the Fed brings uncertainties. Gold is expected to fluctuate upwards [14]. - **Silver**: Multiple Fed officials' speeches on interest rate cuts affect the market. The market's expectation of interest rate cuts promotes the rise of precious metals. Silver is expected to fluctuate upwards, and attention should be paid to the impact of gold on silver [14].

Group 1: Policy and Investment - The Weifang Agricultural and Rural Bureau announced a financial subsidy policy for rural revitalization projects with actual new investments exceeding 100 million yuan, providing a subsidy of 1% of the investment amount, capped at 10 million yuan [1] - The policy aims to attract social capital into the agricultural sector, expand effective investment, and promote agricultural modernization, emphasizing the importance of "forming physical workload" in addition to investment scale [1] Group 2: Agricultural Performance - In the first half of 2025, Weifang reported a total agricultural output value of 70.64 billion yuan, leading the province, with significant increases in various sectors including a 3.23% growth in vegetable production [2] - The city achieved a total agricultural product export value of 11.26 billion yuan from January to August 2025, marking a 6.6% year-on-year increase, and maintaining a hundred billion-level export scale for seven consecutive years [2] Group 3: Technological Advancements - Weifang has made significant strides in agricultural technology, including the construction of a complete hexaploid wheat genome map and the successful approval of the "Weimai 13" wheat variety [3] - The city’s corn industry cluster was selected for a national agricultural integration development project, showcasing its potential for full industry chain development with a mechanization rate of 96.5% [3] Group 4: International Cooperation - Weifang is actively expanding its international market presence, exporting agricultural products worth 2.77 billion yuan to Japan and 2.21 billion yuan to ASEAN countries, with a combined total accounting for 53.1% of the city's agricultural exports [4][5] - The city has initiated various international cooperation projects, including agricultural partnerships in Pakistan and Ghana, and has successfully signed mutual recognition agreements for agricultural product inspections with Japan [5] Group 5: Smart Agriculture Initiatives - Weifang is focusing on smart agriculture as a core strategy for agricultural transformation, implementing various policies to support digital agriculture and smart rural development [6] - The city has launched pilot projects integrating blockchain technology in agriculture, establishing a comprehensive scheme for agricultural product quality and safety supervision, which has been recognized as a national model [7]