1. Report Industry Investment Rating No industry investment rating information is provided in the report. 2. Core Viewpoints of the Report The report offers a comprehensive analysis of multiple sectors including financial derivatives, precious metals, shipping, non - ferrous metals, black metals, agricultural products, and energy chemicals. It assesses the market conditions, supply - demand dynamics, and price trends of various commodities, and provides corresponding investment suggestions based on these analyses [2][3][5]. 3. Summary by Directory 3.1 Daily Selections - **Nickel**: Indonesia's plan to cut nickel production in 2026 has boosted market sentiment, but the actual implementation remains uncertain. The short - term reality is weak, and the medium - term fundamentals are loose. The price is expected to be strong in the short term, but the upward space is limited, with the main contract reference range of 126,000 - 135,000 [2]. - **Methanol**: Methanex's production interruption in Chile has led to a price increase. The port is facing inventory accumulation in December, but the supply - demand balance sheet is expected to shift to destocking in the first quarter of the next year. The price in the inland area is expected to fluctuate slightly [3]. - **Iron Ore**: The price is supported by the steel mill's restocking expectation, but the supply is in the off - season. It is expected to be volatile and slightly strong, with the reference range of 770 - 840 [3]. - **Corn**: The upward momentum is insufficient, and the price has fallen after reaching a high. The short - term supply pressure exists, and the price is expected to be mainly short - term, with attention paid to the changes in farmers' selling mentality and policy releases [4]. 3.2 Financial Derivatives 3.2.1 Stock Index Futures - The A - share market shows a structural theme market, with the index oscillating at a high level. The short - term negative factors are exhausted, and the index has rebounded. It is recommended to hold a bull spread combination and sell a small amount of near - month out - of - the - money call options for hedging [5][7]. 3.2.2 Treasury Bond Futures - The bond market sentiment has recovered, but it is still fragile. It is expected to be in a volatile situation in the short term. After the New Year, attention should be paid to the capital flow, central bank's bond - buying, and other factors [8][10]. 3.3 Precious Metals - The Fed's December meeting minutes have a neutral impact. The precious metals market shows a differentiated trend. In the short term, it is recommended to wait and see, and in the medium - to - long - term, investors can consider bargain - hunting after the New Year [11][13]. 3.4 Shipping (Container Shipping Index - Europe Line) - The futures contract is in a consolidation phase, lacking obvious driving forces. It is expected to be in a volatile pattern in the short term [15]. 3.5 Non - Ferrous Metals - **Copper**: The price has corrected, and the spot discount has narrowed. The medium - to - long - term fundamentals are good, but the short - term price is overestimated. It is recommended to take profits on long positions at high prices [16][19]. - **Alumina**: Policy incentives are difficult to reverse the short - term supply - demand situation. The price is expected to fluctuate widely around the cash cost line. It is recommended to wait and see in the short term and short at high prices in the medium term [19][21]. - **Aluminum**: The market is dominated by the game between strong macro expectations and weak fundamentals. It is expected to be in a high - level wide - range oscillation. It is recommended to take profits on long positions at high prices [22][24]. - **Zinc**: The TC decline supports the price. The short - term price is expected to be volatile, with attention paid to import profitability, TC inflection points, and refined zinc inventory changes [27][30]. - **Tin**: The market sentiment has subsided, and the price has fallen sharply. It is recommended to wait and see, paying attention to the macro situation and supply - side recovery [30][35]. - **Nickel**: Driven by news and technical factors, the price has broken through the previous high. The short - term supply is still sufficient, and the price is expected to be strong in the short term, but the upward space is limited [35][37]. - **Stainless Steel**: The market is in a game between strong expectations and weak reality. It is expected to be in a strong - side oscillation, with attention paid to nickel ore news and steel mill production cuts [38][40]. - **Lithium Carbonate**: The end - of - year news has increased, and the price is expected to be in a wide - range oscillation. It is recommended to wait and see [42][44]. - **Polysilicon**: The price is in a high - level oscillation. In January, there is pressure to cut production due to weak demand. It is recommended to wait and see [45][47]. - **Industrial Silicon**: The price is in a low - level oscillation. Attention should be paid to the implementation of production cuts [47][49]. 3.6 Black Metals - **Steel**: The steel price is in a volatile trend. The production cut and inventory reduction support the price, but the weak demand limits the upward space. It is recommended to wait and see [49][51]. - **Iron Ore**: The price is supported by the steel mill's restocking expectation, but the supply is facing the off - season. It is expected to be volatile and slightly strong, with a short - term long - position attempt [52][53]. - **Coking Coal**: The spot price fluctuates, and the futures price has peaked and declined. It is recommended to short at high prices and consider a long - coking - coal short - coke arbitrage [55][59]. - **Coke**: The fourth round of price cuts has been launched. The supply - demand situation has weakened. It is recommended to short at high prices and consider a long - coking - coal short - coke arbitrage [60][64]. - **Ferrosilicon**: Production cuts have alleviated the supply - demand contradiction. The price is expected to be in a range - bound oscillation [65][68]. - **Silicomanganese**: The manganese ore supports the price, but the supply - demand contradiction still exists. The price is expected to be volatile, with interval operations recommended [69][71]. 3.7 Agricultural Products - **Soybean Meal**: The South American soybean harvest expectation suppresses the market. The domestic spot is loose. The short - term price is expected to be volatile, and cautious operation is recommended [72][74]. - **Pig**: The demand supports the market. The spot price is expected to be strong in the short term, and the futures price is expected to be in a strong - side oscillation [75][76]. - **Corn**: The upward momentum is insufficient, and the price has fallen after reaching a high. The short - term supply pressure exists, and the price is expected to be mainly short - term [77][79]. - **Sugar**: The raw sugar price is in a low - level oscillation. The domestic supply pressure restricts the price. It is recommended to short on rebounds [80][82]. - **Cotton**: The ICE cotton futures are in a bottom - level oscillation. The domestic price has reached a new high for the year. The short - term price may correct, and the medium - to - long - term trend is relatively optimistic [83][85]. - **Egg**: The supply is loose, and the demand is weak. The price is expected to be in a low - level oscillation [86][87]. - **Edible Oils**: The palm oil has a short - term upward trend, but the overall oils should not be over - bullish. Different oils have different price trends and risks [88][90]. - **Jujube**: The cost supports the price, but the consumption improvement is limited. Attention should be paid to the delivery situation of the 01 contract and the Spring Festival stocking [91][92]. - **Apple**: The demand is weak, and the price is declining. The short - term market is in a game between scarce delivery fruits and high - inventory ordinary fruits [93]. 3.8 Energy Chemicals - **PX**: The valuation has increased significantly, and the downstream negative feedback is prominent. The short - term price is under pressure. It is recommended to wait and see before the festival and go long at low prices in the medium term [94][95]. - **PTA**: The processing fee has recovered, and the downstream negative feedback is obvious. The short - term price is under pressure. It is recommended to wait and see before the festival and go long at low prices in the medium term [96][97]. - **Short - Fiber**: The supply - demand expectation is weak, and the price follows the raw materials. It is recommended to have the same strategy as PTA and short the processing fee at high prices [98]. - **Bottle Chip**: The cost is strong, and the supply expectation increases. The short - term processing fee will be compressed. It is recommended to have the same strategy as PTA and short the processing fee at high prices [99][101]. - **Ethylene Glycol**: The overseas supply is expected to shrink, but the near - month inventory accumulation expectation remains unchanged. It is recommended to conduct a reverse spread on EG5 - 9 at high prices [102]. - **Pure Benzene**: The supply - demand pattern is weak, and the price driving force is limited. The price is expected to be in a low - level oscillation [103][104]. - **Styrene**: The supply - demand expectation is weak, and the rebound space is limited. It is recommended to short above 6800 and short the processing fee at high prices [105][106]. - **LLDPE**: The basis remains stable, and the transaction is neutral. It is recommended to go long on the 2605 contract in the short term [107]. - **PP**: The supply and demand are both weak, and the price fluctuates slightly. Attention should be paid to the PDH profit expansion [107]. - **Methanol**: Affected by geopolitical factors, the price has strengthened. It is recommended to pay attention to the MTO05 spread contraction [108][109]. - **Caustic Soda**: The futures price has rebounded strongly, and the现货 price has declined steadily. The price is expected to be in a wide - range oscillation [109][110]. - **PVC**: The supply pressure has increased marginally, and the high - price transaction is light. The price is expected to weaken after a rebound [111][112]. - **Soda Ash**: The production rate has declined, and the inventory has decreased. It is recommended to wait and see [113][114]. - **Glass**: Supported by production line cold - repair and improved sales rate, the price is expected to be in a bottom - level oscillation and strengthen [113][115]. - **Natural Rubber**: The market sentiment has subsided, and it is recommended to hold short positions [117]. - **Synthetic Rubber**: The fundamental support is limited, and the price follows the commodity trend. It is expected to be in a wide - range oscillation between 11,200 - 12,000 [118][119].

2025 年 12 月 31 日 棕榈油：短期节奏反弹，驱动不强 豆油：单边区间为主，关注月差机会 | | | 【基本面跟踪】 油脂基本面数据 | | 棕榈油主力 | 单 位 元/吨 | 收盘价 (日盘） 8,658 | 涨跌幅 1.72% | 收盘价 （夜盘） 8,644 | 涨跌幅 -0.16% | | --- | --- | --- | --- | --- | --- | --- | | | 豆油主力 | 元/吨 | 7,878 | 0.77% | 7,886 | 0.10% | | | 菜油主力 | 元/吨 | 9,086 | 0.51% | 9,098 | 0.13% | | 期 货 | 马棕主力 | 林吉特/吨 | 4,071 | 0.54% | 4,065 | -0.12% | | | CBOT豆油主力 | 美分/磅 | 49.39 | 0.20% | | | | | | 单 位 | 昨日成交 | 成交变动 | 昨日持仓 | 持仓变动 | | | 棕榈油主力 | 手 | 358,771 | 5 | 388,850 | -7,197 | | | 豆油主力 | 手 | 209,400 | 2,251 ...

| と期現日报 | | --- | | 投资咨询业务资格:证监许可 【2011】1292号 Z0019938 2025年12月31日 王涛辉 | | 田和 | | 12月30日 12月29日 涨跌 涨跌幅 | | 现价 江苏一级 8410 8390 20 0.24% | | 期价 Y2605 7878 7818 ୧୦ 0.77% | | 基差 Y2605 532 572 -40 -6.99% | | 现货墓差报价 江苏5月 05 + 520 05 + 520 0 - | | 仓单 28264 28264 0 0.00% | | 棕榈油 | | 12月30日 12月29日 涨跌幅 涨跌 | | 8590 100 现价 广东24度 8490 1.18% | | 期价 P2605 8658 8512 146 1.72% | | 星差 P2605 -68 -22 -46 -209.09% | | 现货墓差报价 广东5月 05 + 120 05 + 120 0 - | | 盘面进口成本 广州港5月 9099.8 9051.2 48.6 0.54% | | 盘面进口利润 广州港5月 -442 -539 97 18.07% ...

中国民航网 通讯员黄星云 报道：2025年，民航新疆管理局驻策勒县达玛沟乡古勒铁日干村、硝尔哈纳 村工作队扎根南疆大地，以新时代党的治疆方略为指引，坚决落实民航局党组和自治区党委各项工作部 署，以民航定点帮扶"五大工程"为重要抓手，将铸牢中华民族共同体意识融入帮扶全过程，在基层党 建、产业发展、民生服务三大领域精准发力，用实干与担当为乡村振兴注入强劲动能，让两村呈现出党 建强、产业兴、民生优的生动局面。 建强基层堡垒，激活治理"红色引擎" 工作队始终把党建引领作为驻村工作的核心，推动基层党组织从"有形覆盖"向"有效覆盖"深度转变。通 过"每日晨会""月度例会"常态化开展理论学习，组织党员干部深入学习习近平总书记关于乡村振兴的重 要论述及相关政策文件，让党的创新理论在基层落地生根。围绕党风廉政、去极端化等主题开展多场警 示教育，用鲜活案例教育党员干部，常态化筑牢思想防线。 在党务规范化建设上，工作队邀请专业力量开展"送党课到基层" 活动，规范"三会一课"和"三学三亮三 比"工作流程，让党务工作从"经验化"迈向"标准化"。按照"成熟一个、发展一个"的原则，严格依照和 田地区基层组织发展党员手册，积极、稳妥、有序， ...

从资金流向上来看，当日农产品加工板块主力资金净流出1.34亿元，游资资金净流入6275.32万元，散户 资金净流入7113.19万元。农产品加工板块个股资金流向见下表： 证券之星消息，12月30日农产品加工板块较上一交易日下跌0.77%，田野股份领跌。当日上证指数报收 于3965.12，下跌0.0%。深证成指报收于13604.07，上涨0.49%。农产品加工板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 605198 | 安德利 | 38.07 | 1.01% | 1.84万 | 1 7066.80万 | | 666000E | 金龙鱼 | 29.02 | 0.48% | 5.70万 | 1.65亿 | | 000930 | 中根科技 | 5.80 | -0.34% | 9.03万 | 5246.60万 | | 000972 | *ST中基 | 3.78 | -0.53% | 4.30万 | 1621.72万 | | 002481 | 双塔食品 | 5.12 | -0.58 ...

作为首都"菜篮子""肉案子"保供的中坚力量，鹏程食品深耕猪肉产业链六十载，构建起全产业链闭环管 理体系，依托全产业链优势提供稳定供货与品质溯源保障；以厂家直营模式减少中间流通环节，让市民 以高性价比享受到优质猪肉产品。"农业产业化龙头+民生商超龙头"的深度融合，不仅实现企业互利共 赢，更打通农产品产销壁垒，构建本土产业协同新范式，为区域农商贸融合升级提供示范，同时推动北 京顺义农业产业升级。 12月27日，北京顺鑫控股集团有限公司与北京顺义本土商超龙头北京顺义商业集团有限公司(下称"顺 商")正式签署战略框架合作协议。根据协议，顺商旗下全部门店将全面引入北京顺鑫农业（000860）股 份有限公司鹏程食品分公司(下称"鹏程食品")猪肉产品，鹏程食品以厂家直营模式成为其猪肉生鲜产品 独家供应商。 以此次合作为起点，鹏程食品将持续深化肉食品产业链布局，优化产品供应与终端服务，拓宽民生服务 覆盖面，计划在北京大规模铺设直营门店及终端销售网络，实现在北京终端1.5公里网格型覆盖。 ...

伴随大众对食材风味的追求提升，"土特产"成为许多农产品企业打出的特色招牌。各类标注"土猪""土鸡"的产品 成为市场热点。然而，品牌商标与产品特性的模糊边界，也滋生了消费误导争议。2025年4月，新京报刊发《"壹 号土猪"争议标识开始替换，"壹号土"鸡是否合规？》一文，报道了广东壹号食品股份有限公司（以下简称"壹号 食品"）因将注册商标"壹号土 "与"猪""鸡"等农产品名称组合标注，导致消费者产生混淆的事件。 近日，新京报记者回访发现，壹号食品已在官网、电商平台和产品包装上替换"壹号土 "争议标识。如在电商平 台，猪肉肉制品产品名称均冠以"壹号土猪"字样，猪肉鲜肉产品冠以"壹号土R"字样，鸡肉产品则剥离"壹号土"相 关表述。商标方面，未有新的食品类别"壹号土猪""壹号土鸡"商标通过申请。 目前，商标合规性与消费误导风险仍是大众关注焦点。监管部门与消保组织提示，消费者需警惕"心机商标"陷 阱，通过细节核验避免踩坑，同时留好消费凭证保障自身权益。 产品包装与宣传调整 2025年上半年，有消费者反映，壹号食品在官网、门店及产品包装上，将已注册的"壹号土 "商标与"猪""鸡"等字 样紧密连用，字体、大小、颜色一致，远观 ...

1. Industry Investment Rating - No information provided regarding the report's industry investment rating 2. Core Viewpoints - The domestic soybean sales are regionally differentiated, with accelerated sales in the Northeast and supplemented by state - reserve soybean auctions, and the price is firm. The import of soybeans in China has slowed down, the port inventory has declined, and there is import and auction activity. The oil mill's operating rate has slightly decreased, but the soybean meal inventory remains high, while the demand is strong. The soybean No.1 futures are expected to fluctuate strongly, and soybean meal futures will fluctuate and adjust [6] 3. Summary by Related Content 3.1 Futures and Spot Prices - The main contract of soybean No.1 2605 rebounded significantly. The spot price continued to rise, with the market price of Fuyin soybeans increasing from 4,120 yuan/ton to around 4,200 yuan/ton. The basis of soybean No.1 strengthened in oscillation, and the futures price was slightly at a discount. The main contract of soybean meal 2605 rebounded but then fell back, continuing to oscillate. The spot price of soybean meal increased slightly, with the price of 43% protein soybean meal in Zhangjiagang rising from 3,030 yuan/ton to around 3,060 yuan/ton. The basis strengthened in oscillation, and the futures discount widened [4] 3.2 Domestic Soybean Sales - The sales of domestic soybeans are regionally differentiated. As of December 26, the remaining soybean inventory in Heilongjiang accounted for 50%, a month - on - month decrease of 8%; in Anhui, it was 55%, a month - on - month decrease of 1%; in Henan, it was 60%, unchanged; and in Shandong, it was 62%, a decrease of 2%. Recently, a large amount of state - reserve soybeans have been continuously auctioned. From December 23, about 600,000 tons have been put up for auction, and 480,000 tons have been sold, supplementing the market [4] 3.3 Soybean Import and Inventory - China's soybean procurement has slowed down. In November, the domestic import of soybeans was 8.11 million tons, a further month - on - month decline but still a year - on - year increase of 13.3%. It is reported that the purchase of US soybeans may also be delayed, and the port soybean inventory has been continuously decreasing. As of December 26, the arrival of soybeans at oil mills was 1.443 million tons, a significant month - on - month decline; the port soybean inventory was 8.251 million tons, with a continuous month - on - month decline [4] 3.4 US Soybean Market - The US soybean market continued to oscillate and adjust. The USDA's December supply - demand report made few adjustments, being neutral. The US is worried about China's subsequent soybean purchases and the production increase pressure of the new - season soybeans in South America [4] 3.5 Oil Mill Operations and Soybean Meal Inventory - The cost of Brazilian soybeans has dropped significantly, and the crushing margin has increased, but the operating rate of oil mills has not increased. As of December 26, the operating rate of oil mills was 56.79%, a slight month - on - month decrease; the soybean crushing volume was 2.0644 million tons; the soybean inventory of oil mills was 6.5444 million tons, a significant decline. The soybean meal production was 1.631 million tons, a slight month - on - month decrease; the soybean meal inventory of oil mills was 1.1676 million tons, a month - on - month increase, remaining at a high level in recent years; the unexecuted contracts for soybean meal were 3.816 million tons, a month - on - month decline. The inventory days of soybean meal in feed mills was 9.45 days, a continuous month - on - month increase and at a high level in recent years [5] 3.6 Feed Demand - In the livestock farming sector, the pig price rebounded, and the farming losses narrowed. As of December 26, the profit from purchasing piglets for farming was - 162.8 yuan per head, narrowing; the self - breeding and self - raising profit was - 130.11 yuan per head, also narrowing. The productive sow capacity has been continuously reduced. In October, the national inventory of productive sows was 39.9 million, a decrease of 450,000 from the previous month. The inventory of large - scale farms also decreased in November. The birth and sales volume of piglets both decreased, reflecting weak restocking sentiment, while the inventory of commercial pigs still increased. It is difficult for the national pig inventory to decrease in the fourth quarter. In the poultry sector, the egg price is low, and the poultry farming has been in continuous losses, with an increase in culling. The inventory decreased slightly again in November and may continue to decline in the fourth quarter. In the short term, the rigid demand for feed is still strong, but there are concerns about capacity reduction in the long term [6]

农业农村现代化关系中国式现代化全局和成色。"十四五"时期，我国农业农村现代化建设扎实推进，乡村全面振 兴迈出坚实步伐。让我们通过一组新数据，共同见证"三农"工作的新成效，感受广袤乡村的新"丰"景。 A 903 900 每年带动19万户花农 户均增收5万元以上 试 中国 和美乡村越来越好 当前 全国农村自来水普及率达94% 2025年 6 - 全国各类粮食经营主体 累计收购秋粮已超２亿吨 同比增加3200万吨 为近年来同期最高水平 BT 背后的"三农"新 现代农业越来越强 当前 载国农业科技进步贡献率超过64% 累计建成超10亿亩 农作物良种覆盖率 高标准农田 1 496% 全国农作物耕种收综合机械化率超过75% 小麦、水稻、玉米三大主粮基本实现机械化 读 中国 .43万亿元 背后的"三农"新 乡村产业越来越旺 载 2024年底 全国已建设140个优势特色产业集群 辐射带动1000多万农户从事相关产业 全国规上农产品加工企业超10万家 实现营业收入约18万亿元 (0) / fram 鲜花产业( n 农村公路总里程超过460万公里 农村工结厕所普及率达76%左右 fill (5G) 行政村5G通达率超95% oo ...

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