Group 1 - The mayor emphasizes the importance of integrating urban and rural development to promote high-quality growth and create a model for common prosperity in Hangzhou [1] - Changqing Town is leveraging the New Fourth Army's historical sites to establish a "Red Rhythm" tourism initiative, while Longyin Dam in Huyuan Township is exploring new paths for integrated tourism development [1] - The mayor advocates for tailored development strategies based on local characteristics, aiming to enhance the operational capabilities of ancient towns and promote rural economic growth [1] Group 2 - The "One Village, One Product" model is being exemplified in Anding Village, which is enhancing its tea offerings and creating popular tourist attractions [2] - The establishment of a tea culture experience area and online sales initiatives has led to over 10 million yuan in tea product sales since the opening of the tea art space in Chunjianshan Township [2] - The mayor encourages the use of digital empowerment and technological advancements to modernize agriculture and improve rural infrastructure and public services [2]

Group 1 - The core viewpoint highlights the transformation of Xing County, leveraging its historical significance and red culture to drive economic development and tourism [1][2] - Xing County has established a comprehensive millet industry chain, achieving an annual output value exceeding 1 billion yuan and sales reaching 500 million yuan, making it a leading industry for local income generation [1] - The county has seen significant improvements in its urban and rural landscape, with the development of transportation infrastructure and accelerated growth across primary, secondary, and tertiary industries [3] Group 2 - The ecological civilization construction in Xing County is evident, with successful small watershed management transforming previously barren areas into lush green landscapes, enhancing tourism [2] - The historical significance of the area as a logistics base during the Anti-Japanese War is being utilized to promote red tourism, attracting thousands of visitors daily [2]

Group 1: Agricultural Development - The prickly pear fruit, once overlooked, has become a significant source of income, with Guizhou's Chuhai Agricultural Technology Development Co., Ltd. achieving an annual output value of 270 million yuan from prickly pear products [1] - Liupanshui City has a processing capacity of 680,000 tons of prickly pear annually, contributing to rural revitalization [1] - Guizhou's agricultural specialty industries are projected to grow by 4.2% in 2024, with a processing conversion rate of agricultural products reaching 66% [3] Group 2: Renewable Energy Initiatives - Guizhou has accelerated the construction of a new energy system, with renewable energy installed capacity reaching 31.58 million kilowatts, accounting for 39.5% of the province's total [2] - The establishment of a wind power industry cluster in Longli County, with four production lines for large wind turbine blades, demonstrates the region's commitment to renewable energy [1] Group 3: Ecological Product Marketization - Guizhou has issued its second batch of provincial forestry carbon credits, with bank credit of 571 million yuan and a transaction value of approximately 14.58 million yuan [4] - The province is working on quantifying and comparing the value of ecological products, addressing challenges in measurement and trading [4] Group 4: Ecological Compensation Mechanisms - Guizhou is exploring new mechanisms for ecological compensation, including horizontal compensation methods for river basins and forest coverage [5] - The province aims to transform ecological advantages into developmental benefits, enhancing the value of green production [5]

Group 1 - The core viewpoint is that the Yintai District of Tongchuan City is actively boosting consumption through a multi-faceted approach, including attracting leading enterprises, building production and sales platforms, and developing live e-commerce [2] - The district has established a strategic cooperation relationship with Shaanxi Foreign Economic and Trade (Shanghai) Co., Ltd. to create a digital production and sales platform for local agricultural products, resulting in a 15% year-on-year increase in online transaction volume [2] - The district emphasizes brand incubation and has developed tailored production and sales plans for local agricultural products, enhancing their market competitiveness and leading to cooperation intentions with five local enterprises [2] Group 2 - The successful case of "Jin Gua Tea Industry Black Tea Douyin Premiere" has activated new consumption growth engines, achieving over 4000 views and ranking second in the national tea sales list, generating over 200 orders [3] - The district is implementing a three-pronged development strategy focusing on brand value enhancement, sales channel expansion, and themed offline activities to stimulate industrial development and achieve breakthroughs in the entire industry chain [3]

Group 1: Investor Relations Activities - The company conducted investor relations activities including specific object research and on-site visits [3] - The activities took place from July 2 to July 3, 2025, at the company meeting room and via Tencent online meeting [3] - Attendees included major financial institutions such as JP Morgan, Goldman Sachs, and UBS Global Asset Management [3] Group 2: Product and Supply Chain Insights - Konjac (魔芋) is primarily grown in specific regions of China, thriving at altitudes between 250-2500 meters, and is sensitive to various environmental conditions [4] - The company ensures raw material supply through equipment leasing, technical support, and order locking with reputable cooperatives and processing plants [5] - The company also imports konjac raw materials from Southeast Asia to supplement local supply [5] Group 3: Market Demand and Product Development - The demand for konjac powder surged in 2024, driven by the growth in leisure food products, tea beverage markets, and deeper applications in food processing [6] - The shelf life of konjac powder is 18 months, while konjac gel can last up to 24 months [7] - Konjac balls offer advantages over traditional tapioca pearls, including lower calories and easier preparation, appealing to younger consumers [8] Group 4: Future Market Potential - The tea beverage market is seen as having significant potential, particularly among young consumers with high coverage and repurchase rates [9] - Future product development plans include ready-to-eat frozen products and new ingredients for beverages and dairy products, aligning with consumer health trends [9] - The konjac industry is expected to explore markets focused on health, functionality, and sustainability, including low-calorie meal replacements and biodegradable materials [11]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - This week, rapeseed oil futures fluctuated and closed higher, with the 09 contract closing at 9,607 yuan/ton, up 141 yuan/ton from the previous week. Rapeseed meal futures also fluctuated and closed higher, with the 09 contract closing at 2,597 yuan/ton, up 38 yuan/ton from the previous week [6][7][10]. - For rapeseed oil, the Canadian government has adjusted the estimated production and planting area of rapeseed, and the current growth of Canadian rapeseed is in the "weather - dominated" stage. The continuous drought in western Canada has raised concerns about rapeseed yields. International biodiesel policies support the palm oil and soybean oil markets. In China, it is the off - season for oil consumption, with sufficient vegetable oil supply and high inventory pressure on rapeseed oil mills. However, the decline in the mill's operating rate has reduced the output pressure of rapeseed oil, and the Sino - Canadian economic and trade relations may tighten again, which may affect rapeseed exports to China [7]. - For rapeseed meal, the USDA report shows that the US soybean inventory has increased, and the planting area has decreased. The good condition of US soybeans restricts the market price. In China, the concentrated arrival of imported soybeans has increased the operating rate of oil mills, and the supply is relatively loose, which suppresses the price of rapeseed meal. Although it is the peak season for aquaculture, the substitution advantage of soybean meal weakens the demand for rapeseed meal [10]. 3. Summary According to the Directory 3.1 Weekly Highlights Summary Rapeseed Oil - Strategy: Participate in the short - term [6]. - Market review: The 09 contract of rapeseed oil futures closed at 9,607 yuan/ton, up 141 yuan/ton from the previous week [7]. - Market outlook: The estimated production of Canadian rapeseed in 2024 has been increased, but the planting area in 2025 has been revised down. The dry weather in western Canada has affected the yield expectations. International biodiesel policies support the palm oil and soybean oil markets. In China, it is the off - season for oil consumption, with sufficient supply and high inventory pressure on mills. However, the decline in the mill's operating rate and the possible tightening of Sino - Canadian economic and trade relations are factors to be considered [7]. Rapeseed Meal - Strategy: Participate in the short - term and pay attention to Sino - US and Sino - Canadian economic and trade relations [9]. - Market review: The 09 contract of rapeseed meal futures closed at 2,597 yuan/ton, up 38 yuan/ton from the previous week [10]. - Market outlook: The USDA report shows that the US soybean inventory has increased and the planting area has decreased. The good condition of US soybeans restricts the price. In China, the concentrated arrival of imported soybeans has increased the supply of rapeseed meal, and the substitution advantage of soybean meal weakens the demand for rapeseed meal [10]. 3.2 Futures and Spot Market Futures Price and Position - Rapeseed oil futures fluctuated and closed higher, with a total position of 323,968 lots, an increase of 4,565 lots from the previous week. The top 20 net long positions increased from +23,230 to +24,789 [16][21]. - Rapeseed meal futures fluctuated and closed higher, with a total position of 564,558 lots, a decrease of 28,543 lots from the previous week. The top 20 net short positions decreased from - 35,816 to - 4,491 [16][21]. Futures Warehouse Receipts - The registered warehouse receipts of rapeseed oil are 805 lots, and those of rapeseed meal are 16,232 lots [25][26]. Spot Price and Basis - The spot price of rapeseed oil in Jiangsu is 9,730 yuan/ton, showing a rebound. The basis between the active contract of rapeseed oil and the spot price in Jiangsu is +123 yuan/ton [35]. - The spot price of rapeseed meal in Nantong, Jiangsu is 2,430 yuan/ton, showing a slight rebound. The basis between the spot price in Jiangsu and the active contract of rapeseed meal is - 167 yuan/ton [41]. Futures Inter - monthly Spread - The 9 - 1 spread of rapeseed oil is +71 yuan/ton, at a medium level in the same period in recent years. The 9 - 1 spread of rapeseed meal is +271 yuan/ton, also at a medium level in the same period in recent years [47]. Futures - Spot Ratio - The ratio of the 09 contract of rapeseed oil to rapeseed meal is 3.699, and the average ratio of spot prices is 4.0 [50]. Spread between Rapeseed Oil and Other Oils/Meals - The spread between the 09 contract of rapeseed oil and soybean oil is 1,663 yuan/ton, and the spread between the 09 contract of rapeseed oil and palm oil is 1,135 yuan/ton, both showing narrow - range fluctuations this week [59]. - The spread between the 09 contract of soybean meal and rapeseed meal is 357 yuan/ton, and the spot spread as of Thursday is 340 yuan/ton [65]. 3.3 Industrial Chain Situation Rapeseed - Supply: As of June 27, 2025, the total inventory of rapeseed in oil mills is 150,000 tons, unchanged from the previous week. The estimated arrival volumes of rapeseed in June, July, and August 2025 are 260,000 tons, 130,000 tons, and 485,000 tons respectively. As of July 3, the spot crushing profit of imported rapeseed is +222 yuan/ton. As of the 26th week of 2025, the crushing volume of rapeseed in major coastal oil mills is 56,500 tons, an increase of 3,000 tons from the previous week, with an operating rate of 13.82%. In May 2025, the total import volume of rapeseed is 335,500 tons, a year - on - year decrease of 26.12% and a month - on - month decrease of 153,800 tons [69][74][78][82]. Rapeseed Oil - Supply: As of the end of the 26th week of 2025, the inventory of imported and crushed rapeseed oil in China is 884,000 tons, unchanged from the previous week, with a month - on - month decrease of 0.04%. In May 2025, the total import volume of rapeseed oil is 111,200 tons, a year - on - year decrease of 20.31% and a month - on - month decrease of 70,900 tons [87]. - Demand: As of March 31, 2025, the monthly output of edible vegetable oil is 4.404 million tons. As of May 31, the catering revenue is 457.82 billion yuan. As of the end of the 26th week of 2025, the contract volume of imported and crushed rapeseed oil is 159,000 tons, a decrease of 14,000 tons from the previous week, a month - on - month decrease of 8.13% [91][95]. Rapeseed Meal - Supply: As of the end of the 26th week of 2025, the inventory of imported and crushed rapeseed meal in China is 9,000 tons, a decrease of 3,000 tons from the previous week, a month - on - month decrease of 27.12%. In May 2025, the total import volume of rapeseed meal is 194,700 tons, a year - on - year decrease of 36.06% and a month - on - month decrease of 103,900 tons [99][103]. - Demand: As of May 31, 2025, the monthly output of feed is 2.7621 million tons [107]. 3.4 Options Market Analysis - As of July 4, the implied volatility of rapeseed meal options is 17.22%, a decrease of 1.77% from the previous week, at a level comparable to the 20 - day, 40 - day, and 60 - day historical volatility of the underlying asset [110].

gtaxinstitute@essence.com.cn (原油) 隔夜国际油价震荡，布伦特09合约跌0.43%。周三宏观与地缘方面的利多支撑未能延续，6月非农就 业的超预期表现弱化美联储降息预期,在美越贸易协议之后,临近7月9日豁免到期大限美国与其他 大多数国家的贸易协议悬而未决；伊核争端也有重回谈判与制裁博弈模式的迹象，中东军事冲突风 险短期可控。原油供需面宽松主题延续,上周全球石油库存进一步累增,旺季因素亦难扭转 OPEC+快速增产预期之下的累库趋势。原油供需指引仍偏负面,关注宏观及地缘因素摇摆风险。 (责金属) 隔夜美国公布6月季调后非农就业人口录得14.7万人好于普遍预期，失业率下降0.1个百分点至 4.1%、就业市场保持韧性令美联储9月降息预期有所降温，金价有所回落。短期贵金属延续震荡， 关注美国关税重要节点政策变动对市场情绪的影响。 【铜】 隔夜伦铜高位震荡收跌，6月非农就业及失业率好于预期，调降7月联储降息概率，美元指数走强。 国内现铜昨报80980元,注意2507合约减仓节奏。技术上,周内沪铜涨势测试8.1万。中长期趋势交 易仍建议关注高位空配。 【铝】 隔夜沪铝高位震荡。昨日各地区现货转向 ...

Report Industry Investment Ratings No relevant content provided. Core Views - For bonds, it's expected that there will be no trend - like market, and caution is advised [6][7]. - For stock indices, the long - term performance of Chinese equity assets is promising, and going long on stock index futures is recommended [9][10]. - For precious metals, the long - term bullish trend is expected to continue, and going long on gold futures is considered [11][12]. - For steel products (including rebar, hot - rolled coils), investors can focus on shorting opportunities during rebounds, and light - position participation is suggested [14][15]. - For iron ore, investors can look for buying opportunities at low levels, and light - position participation is recommended [16][17]. - For coking coal and coke, investors can focus on shorting opportunities during rebounds, and light - position participation is advised [19][20]. - For ferroalloys, the overall price is under pressure in the short term, and bulls should be cautious. Low - value call options can be considered if spot losses increase significantly [21]. - For crude oil, it is expected to oscillate at a low level, and the main contract should be put on hold for now [23][24]. - For fuel oil, the price is expected to gradually bottom out in the short term. The main contract should be put on hold for now, and long - position opportunities can be sought after the decline eases [26][27]. - For synthetic rubber, wait for the price to stabilize and then participate in the rebound [28][29]. - For natural rubber, pay attention to long - position opportunities after the price stabilizes [30][32]. - For PVC, the price is expected to oscillate at the bottom [33][35]. - For urea, it will oscillate in the short term and is expected to be bullish in the medium term [36][38]. - For PX, it will oscillate and adjust in the short term, and participation should be cautious [39]. - For PTA, it will oscillate and adjust in the short term, and light - position participation is recommended [40][42]. - For ethylene glycol, the supply - demand situation weakens in the short term, but there is support at a low level. The space below should be treated with caution [43]. - For short - fiber, follow the cost side with light - position participation and look for opportunities to widen the processing margin [44]. - For bottle - grade chips, it is expected to oscillate following the cost side. Participation should be cautious, and opportunities to widen the processing margin should be noted [46]. - For soda ash, there may be a short - term rebound, but excessive long - position chasing is not advisable [47]. - For glass, there is a short - term bullish sentiment, but its sustainability is expected to be limited. Short - position holders at a low level should control their positions, and excessive long - position chasing is not recommended [49]. - For caustic soda, the supply - demand is generally loose, and the bullish sentiment due to the meeting's spirit is expected to have limited sustainability [50][51]. - For pulp, the paper price is expected to be weak and stalemate in the near future, and changes in raw material pulp prices and downstream demand should be observed [52]. - For lithium carbonate, the supply - demand surplus situation remains unchanged, and investors should not chase high prices [54]. - For copper, the price is expected to be strong, and the main contract should be put on hold for now [55][56]. - For tin, the price is expected to oscillate and be strong [57]. - For nickel, the price is expected to oscillate [58]. - For soybean oil and soybean meal, for soybean meal, look for long - position opportunities in the low - support range after adjustment; for soybean oil, consider call options in the support range after the fall [59][60]. - For palm oil, consider the opportunity to widen the rapeseed - palm oil spread [61][62]. - For rapeseed meal and rapeseed oil, consider the opportunity to go long on the oil - meal ratio [63][64]. - For cotton, the global supply - demand is expected to remain loose, and it is advisable to wait and see [65][67]. - For sugar, the situation is neutral after short - term basis repair, and it is advisable to wait and see [68][70]. - For apples, pay attention to third - party research data on production as the expected reduction is less than previously thought [71][72]. - For live pigs, the demand support is weak in the summer off - season. Pay attention to the weight - reducing degree in the south and consider waiting and seeing [74][75]. - For eggs, consider short - position and rebound attempts as the supply is expected to increase year - on - year in June [76][78]. - For corn and starch, the domestic corn supply - demand is approaching balance. It's advisable to wait and see, and corn starch will follow the corn market [79][81]. - For logs, it is expected to oscillate and adjust before the first delivery [83][84]. Summaries by Directory Bonds - The previous trading day saw most bond futures closing higher, with a net withdrawal of 452.1 billion yuan in the open market [5]. - Macroeconomic data is stable, but the recovery momentum is weak. The bond yield is relatively low, and there is room for domestic demand policies. Caution is advised due to uncertainties in Sino - US trade agreements [6]. - It's expected that there will be no trend - like market [7]. Stock Indices - The previous trading day saw mixed results for stock index futures. Although the domestic economic recovery momentum is weak and market confidence in corporate profits is lacking, Chinese equity assets are still favored in the long - run, and going long on stock index futures is recommended [8][9][10]. Precious Metals - The previous trading day saw gold and silver futures rising. Due to the complex global trade and financial environment and the trends of "de - globalization" and "de - dollarization", the long - term bullish trend of precious metals is expected to continue, and going long on gold futures is considered [11][12]. Steel Products (Rebar, Hot - Rolled Coils) - The previous trading day saw rebar and hot - rolled coil futures rebounding. An important meeting triggered expectations of supply contraction, but the real - estate downturn and over - capacity still suppress prices. From a valuation perspective, the downside space is limited. Technically, there may be a short - term rebound. Investors can focus on shorting opportunities during rebounds [13][14][15]. Iron Ore - The previous trading day saw iron ore futures rebounding. The iron ore supply - demand situation has weakened marginally, and its price valuation is relatively high. Technically, it was supported at the previous low. Investors can look for buying opportunities at low levels [16][17]. Coking Coal and Coke - The previous trading day saw coking coal and coke futures rising significantly. An important meeting triggered expectations of supply contraction. However, in reality, the coal mine operating rate is rising, and steel mills' demand for coke is weak. Technically, the short - term trend is uncertain. Investors can focus on shorting opportunities during rebounds [18][19][20]. Ferroalloys - The previous trading day saw manganese - silicon and silicon - iron futures rising. The supply of ferroalloys is expected to be in surplus in the short term, and the price is under pressure. If spot losses increase significantly, low - value call options can be considered [21]. Crude Oil - The previous trading day saw INE crude oil rising. Fund managers reduced their net long positions, and US energy companies continued to cut the number of oil and gas rigs. OPEC+ may continue to increase production. It is expected to oscillate at a low level, and the main contract should be put on hold for now [22][23][24]. Fuel Oil - The previous trading day saw fuel oil rising and the decline easing. The delivery time is still unstable. The supply of fuel oil is sufficient, and inventories in some regions have increased. In the short term, the price is expected to gradually bottom out. The main contract should be put on hold for now, and long - position opportunities can be sought after the decline eases [25][26][27]. Synthetic Rubber - The previous trading day saw synthetic rubber futures falling. The supply pressure has alleviated slightly, and the demand improvement is limited. The cost is expected to rebound, driving the price to stabilize and rebound. Wait for the price to stabilize and then participate in the rebound [28][29]. Natural Rubber - The previous trading day saw natural rubber futures falling. Overseas imports may decrease seasonally, and raw material output in the producing areas is expected to increase. The price is expected to fluctuate widely. Pay attention to long - position opportunities after the price stabilizes [30][32]. PVC - The previous trading day saw PVC futures rising. The production is expected to continue to decline, the demand shows no sign of improvement, and the cost support is strengthening. The price is expected to oscillate at the bottom [33][35]. Urea - The previous trading day saw urea futures showing no change. The agricultural demand is coming to an end, and the industrial demand is mediocre. Pay attention to the export situation. It will oscillate in the short term and is expected to be bullish in the medium term [36][38]. PX - The previous trading day saw PX futures falling. The supply - demand situation has improved slightly month - on - month, and the balance remains tight, but the cost support is insufficient. It will oscillate and adjust in the short term, and participation should be cautious [39]. PTA - The previous trading day saw PTA futures falling. The supply - demand fundamentals have little contradiction, but the cost support from crude oil is insufficient. It will oscillate and adjust in the short term, and light - position participation is recommended [40][42]. Ethylene Glycol - The previous trading day saw ethylene glycol futures falling. The supply - demand situation weakens in the short term, but the inventory has decreased significantly to a low level, providing support. The space below should be treated with caution [43]. Short - Fiber - The previous trading day saw short - fiber futures falling. The downstream demand and cost side have both weakened. The low inventory of factories can suppress some of the decline. Follow the cost side with light - position participation and look for opportunities to widen the processing margin [44]. Bottle - Grade Chips - The previous trading day saw bottle - grade chips futures falling. The raw material price is weak, but the number of device overhauls has increased, and the inventory has decreased, providing support. It is expected to oscillate following the cost side. Participation should be cautious, and opportunities to widen the processing margin should be noted [46]. Soda Ash - The previous trading day saw soda ash futures falling slightly. The supply is expected to exceed demand in the medium - to - long - term, and the inventory is sufficient. The short - term rebound is mainly due to a meeting, but its sustainability is limited. Excessive long - position chasing is not advisable [47]. Glass - The previous trading day saw glass futures rising. The actual supply - demand has no obvious drive. The short - term bullish sentiment is due to a meeting, but its sustainability is limited. Short - position holders at a low level should control their positions, and excessive long - position chasing is not recommended [48][49]. Caustic Soda - The previous trading day saw caustic soda futures rising slightly. The supply - demand is generally loose, and the region - based difference is obvious. The bullish sentiment due to the meeting's spirit is expected to have limited sustainability [50][51]. Pulp - The previous trading day saw pulp futures rising. The downstream demand is weak, and the supply pressure is increasing. The pulp price is expected to fluctuate and adjust. The paper price is expected to be weak and stalemate in the near future, and changes in raw material pulp prices and downstream demand should be observed [52]. Lithium Carbonate - The previous trading day saw lithium carbonate futures rising. A meeting triggered expectations of supply - side reform, but the supply - demand surplus situation remains unchanged. The price is difficult to reverse before the large - scale clearance of mining capacity. Investors should not chase high prices [54]. Copper - The previous trading day saw Shanghai copper rising and then falling. The price is expected to be strong in the second half of the year due to expected stimulus policies in China, the shortage of copper concentrates, and uncertain copper tariffs. The main contract should be put on hold for now [55][56]. Tin - The previous trading day saw Shanghai tin oscillating. The tin ore supply is tight, and the consumption is good. The inventory is decreasing. The price is expected to oscillate and be strong [57]. Nickel - The previous trading day saw Shanghai nickel rising. The cost support has weakened, the downstream consumption is not optimistic, and the refined nickel is in surplus. The price is expected to oscillate [58]. Soybean Oil and Soybean Meal - The previous trading day saw soybean oil and soybean meal futures rising. The soybean crushing volume has recovered to a high level, and inventories are increasing. The demand for edible oil and feed is expected to increase slightly. For soybean meal, look for long - position opportunities in the low - support range after adjustment; for soybean oil, consider call options in the support range after the fall [59][60]. Palm Oil - The previous trading day saw Malaysian palm oil rising. The inventory in June is expected to decrease, and the export volume has increased. The domestic inventory is at a relatively high level. Consider the opportunity to widen the rapeseed - palm oil spread [61][62]. Rapeseed Meal and Rapeseed Oil - The previous trading day saw rapeseed meal and rapeseed oil futures adjusting. The import of rapeseed oil and rapeseed meal has decreased. The crop growth is good, but the soil moisture is in short supply. Consider the opportunity to go long on the oil - meal ratio [63][64]. Cotton - The previous trading day saw domestic cotton futures oscillating at a high level, and overseas cotton futures falling. The global cotton supply - demand is expected to remain loose. The domestic cotton planting area has increased, and the seedlings are growing well. The industrial off - season is in progress, and there is no obvious new driving factor. It is advisable to wait and see [65][67]. Sugar - The previous trading day saw domestic sugar futures oscillating and overseas sugar futures rising significantly. The Brazilian sugar production is expected to increase, but the supply may decrease due to the increase in ethanol production. The domestic inventory is low, and the import will gradually increase. The supply - demand contradiction is not sharp. It is advisable to wait and see [68][70]. Apples - The previous trading day saw apple futures oscillating. The apple production reduction is less than expected, and some areas may have a restorative increase. Pay attention to third - party research data on production [71][72]. Live Pigs - The previous trading day saw live pig futures rising. The group - farm slaughter volume has decreased at the end and beginning of the month. The demand support is weak in the summer off - season. Pay attention to the weight - reducing degree in the south and consider waiting and seeing [74][75]. Eggs - The previous trading day saw egg futures rising. The egg supply in June is expected to increase year - on - year. It is the consumption off - season, and the temperature is rising. Consider short - position and rebound attempts [76][78]. Corn and Starch - The previous trading day saw corn and corn starch futures falling. The domestic corn supply - demand is approaching balance, and the inventory pressure has decreased. The import may increase in the future. It's advisable to wait and see, and corn starch will follow the corn market [79][81]. Logs - The previous trading day saw log futures rising. The number of incoming ships of New Zealand logs has increased, and the cost has changed. The inventory is basically stable. The demand is affected by the project fund availability. It is expected to oscillate and adjust before the first delivery [83][84].

News Summary Core Viewpoint - The U.S. soybean meal export sales have significantly increased, indicating a potential shift in supply dynamics, while domestic soybean meal inventories are rising due to stable import volumes and higher processing rates at oil mills [1][2]. Group 1: Export and Sales Data - As of the week ending June 26, 2023, U.S. soybean meal export net sales for the 2024/2025 marketing year reached 306,000 tons, up from 94,000 tons the previous week [1] - For the 2025/2026 marketing year, net sales were reported at 397,000 tons, compared to 166,000 tons the prior week [1] - U.S. soybean meal shipments for the 2024/2025 marketing year totaled 238,000 tons, down from 280,000 tons the week before [1] - On July 3, the total soybean meal transaction volume at major oil mills in China was 165,900 tons, a decrease of 288,800 tons from the previous trading day, with spot transactions at 44,100 tons [1] Group 2: Market Analysis and Outlook - The current import volume of soybeans is stable, and oil mills are increasing their processing rates, leading to a rise in soybean meal inventories [2] - The upcoming deadline for tariff postponement adds uncertainty to U.S.-China trade relations, while favorable U.S. non-farm payroll data may support future price increases [2] - The domestic market is still adjusting to the pressure from the abundant Brazilian soybean harvest earlier this year, with expected import volumes exceeding 10 million tons in June and July [3] - The U.S. soybean planting progress is ahead of schedule, and there are currently no adverse weather conditions to drive speculation [3] - The external market for CBOT soybeans remains above 1,000 cents per bushel, providing cost support amid concerns about trade prospects [3]

Core Viewpoint - The development of saline-alkali land agriculture in Hebei Province is being actively promoted to ensure national food security and increase farmers' income through comprehensive utilization and supervision measures [1][2][3]. Group 1: Agricultural Development and Support - Farmers in Huanghua City have received subsidies for grain planting, which have alleviated their economic burdens and led to increased income through the sale of diverse agricultural products [1]. - The Hebei Provincial Commission for Discipline Inspection and Supervision has established a research group to investigate the development of saline-alkali land agriculture, providing a basis for targeted supervision and effective measures [2][3]. Group 2: Supervision and Responsibility - The Hebei Provincial Commission has outlined six key areas for supervision, including responsibility implementation, breeding, land treatment, comprehensive utilization, specialty agriculture, and resource assurance [2]. - Local governments are being urged to prioritize the comprehensive utilization of saline-alkali land as a major initiative, with specific oversight from the Commission to ensure accountability [2][3]. Group 3: Monitoring and Improvement - The Commission is conducting joint supervision to enhance the effectiveness of agricultural departments in investigating saline-alkali land resources and improving soil quality [3][4]. - Specific issues such as slow project approvals and ineffective actions by personnel are being monitored to ensure timely support for agricultural projects [3][5].