Group 1 - The core viewpoint indicates that there is an increased pricing power among enterprises, leading to a slight rise in the spot price of rapeseed meal [1] - As of September 16, the spot price of ordinary rapeseed meal in coastal areas ranges from 2590 to 2700 CNY/ton, reflecting an increase of 20 to 30 CNY/ton compared to the previous trading day and an increase of 0 to 20 CNY/ton compared to the same period last week [1] - On September 17, the futures market shows the main contract for rapeseed meal closing at 2460.00 CNY/ton, with a decline of 2.26%, and a trading volume of 394,731 contracts [2] Group 2 - The inventory of rapeseed meal is high, but there is still pressure on circulation; however, low rapeseed inventory and fewer distant ship purchases provide a basis for potential upward fluctuations in the future [4] - On September 17, the number of rapeseed meal futures warehouse receipts was 10,119, a decrease of 110 from the previous trading day [3] - Canadian canola oil prices remained stable, with October shipment at 1080 USD/ton and December shipment at 1060 USD/ton [3]

Core Viewpoint - The agricultural processing sector experienced a decline of 0.58% on September 17, with *ST Zhongji leading the drop, while the overall market indices showed positive movements [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3876.34, up by 0.37% [1]. - The Shenzhen Component Index closed at 13215.46, up by 1.16% [1]. Group 2: Individual Stock Performance - Morning Light Bio (300138) closed at 13.09, with an increase of 0.54% and a trading volume of 59,700 shares, totaling a transaction value of 78.23 million yuan [1]. - Baolingbao (002286) closed at 10.28, up by 0.49%, with a trading volume of 71,000 shares and a transaction value of 72.97 million yuan [1]. - COFCO Sugar (600737) closed at 16.85, up by 0.36%, with a trading volume of 336,400 shares and a transaction value of 566 million yuan [1]. - Other notable stocks include Jin Jian Rice Industry (600127) down by 0.29% and Golden Dragon Fish (300999) down by 0.33% [1]. Group 3: Fund Flow Analysis - The agricultural processing sector saw a net outflow of 71.57 million yuan from main funds, while retail funds experienced a net outflow of 10.00 million yuan [3]. - Speculative funds recorded a net inflow of 81.58 million yuan [3].

转自：新华财经 以"如何做大做强龙江玉米产业，推动产业高质量发展"为主题的第22期"珠江路35号"政商沙龙活动9月16日在哈尔 滨举行。肇东星湖生物科技有限公司综合管理部部长谢刚表示，企业正聚焦延伸玉米加工产业链发展，提高玉米 产品附加值，提升市场竞争力。 据介绍，星湖科技是黑龙江省农业产业化龙头企业，2020年被评定为国家高新技术企业，2021年获黑龙江"专精特 新"中小企业和黑龙江省"制造业单项冠军"企业称号，2021年企业技术中心获认定为省级企业技术中心，2022年省 级工程技术研究中心完成备案，2025年获得黑龙江省绿色工厂称号。 星湖科技坐落于绥化市肇东市北郊，总占地约320亩，员工约830人，是集研、产、销于一体的高新技术企业，以 合成生物学为核心技术的制造型企业，主营业务为年产1.2万吨食品添加剂呈味核苷酸二钠及配套的核苷产业链产 品，产品主要应用于酱油、鸡精、汤料包等食品调味料产业，产品销往全球各地。 该企业进入绥化肇东市以来，不断开展技术创新，先后和清华大学、江南大学、湖北大学、黑龙江省微生物所进 行产学研合作，近三年取得发明专利5项，生产技术水平取得了近20%提升，近2年产品规模增加近20 ...

gtaxinstitute@essence.com.cn 综合晨报 2025年09月17日 【原油】 隔夜贵金属震荡，美国公布8月零售销售月率录得0.6%，高于预测的0.2%和前值0.50%。市场定价美 联储年内将连续降息三次，特朗普称需要更快速的降息，聚焦明日凌晨美联储会议降息幅度以及鲍 威尔讲话对未来路径的指引。 【铜】 隔夜铜价阴线走低,短线仓量获利了结,市场静待联储会议。国内现铜上调到81120元,换月后沪 粤升水75、40元。铜价突破再涨,需重点关注资金兴趣,目前仓量一般。多单择机止盈观望。 【铝】 隔夜沪铝震荡。下游开工继续季节性回升，年内铝锭库存大概率处于偏低水平。但铝锭社库仍未现 拐点,继续关注旺季需求反馈。沪铝短期测试3月高点位置阻力。 (铸造铝合金) 铸造铝合金跟随沪铝小幅回调，保太现货报价维持在20600元。废铝货源偏紧,税率政策调整预期 增加企业成本,现货与沪铝跨品种价差存在进一步收窄空间。 (氧化铝) 氧化铝运行产能超过9700万吨刷新历史新高，行业库存持续上升，仓单超过15万吨。供应过剩明 显，各地现货持续下调，新疆铝厂招标价折北方出厂价低于2950元。晋豫产能现金成本尚有利润, ...

1. Report Industry Investment Ratings - **Equity Index**: Short - term shock is on the strong side, and short - term cautious long positions are recommended [3][4] - **Treasury Bonds**: Short - term shock is on the weak side, and cautious observation is recommended [3] - **Black Metals**: Short - term shock, short - term cautious observation [3] - **Non - ferrous Metals**: Short - term shock is on the strong side, and short - term cautious long positions are recommended [3] - **Energy and Chemicals**: Short - term shock, cautious observation [3] - **Precious Metals**: Short - term high - level shock is on the strong side, and cautious long positions are recommended [3] 2. Core Views of the Report - Overseas, the US may impose more tariffs on imported auto parts, and the dollar is weak due to expected Fed rate cuts. Domestically, economic data is lower than expected, but risk appetite has increased due to reduced external uncertainties and enhanced easing expectations. The market focuses on domestic stimulus policies and easing expectations [3]. - Different sectors in the commodity market have different trends. For example, steel may continue to rebound, while some energy - chemical products are in a state of shock [6][13]. 3. Summary by Related Catalogs Macro - finance - **Overseas**: The US may increase tariffs on auto parts, the dollar index is at a 10 - week low due to expected Fed rate cuts, and global risk appetite has increased [3]. - **Domestic**: In August, consumption, investment, and industrial added - value growth were lower than expected, but risk appetite increased due to policy measures and reduced external uncertainties. The market focuses on domestic policies, and the short - term macro - upward drive has strengthened [3]. - **Asset Recommendations**: Short - term long positions for equity indices, cautious observation for treasury bonds. For commodities, short - term long positions for non - ferrous metals and precious metals, and cautious observation for others [3]. Black Metals - **Steel**: Futures and spot prices continue to rebound. Demand is still weak, but supply is likely to shrink. The market is expected to be in a short - term shock - strong trend [6]. - **Iron Ore**: Prices are strong, but the upward space is limited. Supply is high, and inventory has decreased slightly. It is recommended to view prices with an interval shock idea [6][7]. - **Silicon Manganese/Silicon Iron**: Spot and futures prices have rebounded slightly. Supply is increasing, and the market is expected to continue to fluctuate in the short term [7]. - **Soda Ash**: High - level shock. Supply is increasing, demand is weak, and it is recommended to take a bearish view in the medium - to - long term, while being vigilant about short - term policy impacts [8]. - **Glass**: High - level shock. Supply is stable, demand growth is limited, and it is expected to fluctuate in the short term [8]. Non - ferrous and New Energy - **Copper**: Prices are strongly rising, driven by expected Fed rate cuts. It is short - term strong, but the upward space is limited [9]. - **Aluminum**: Prices are rising, but the fundamentals are weak. There is a technical pressure level at 21,300 yuan/ton [9]. - **Aluminum Alloy**: Supply is tight, demand is weak, and prices are expected to be in a short - term shock - strong trend with limited upward space [10]. - **Tin**: Supply has decreased due to maintenance, but it is expected to recover. Demand is weak, and prices are expected to be in a short - term shock - strong trend with limited upward space [10]. - **Lithium Carbonate**: Prices are rising, with both supply and demand increasing. The market is expected to be in a shock - strong trend [11]. - **Industrial Silicon**: Prices are rising, and it is expected to be in a shock - strong trend [11]. - **Polysilicon**: Prices are rising, and it is expected to be in a high - level shock and easy - to - rise - hard - to - fall state [12]. Energy and Chemicals - **Crude Oil**: Prices are slightly rising due to supply pressure and expected Fed rate cuts [13]. - **Asphalt**: Prices are following the rise of crude oil, but demand is weakening, and the upward space is limited [14]. - **PX**: Prices are rebounding slightly, in a tight pattern, and are expected to be in a shock state [14]. - **PTA**: Prices are rebounding slightly, but the upward space is limited. There is also support below, and it is expected to be in a shock state [15]. - **Ethylene Glycol**: It is expected to be in a weak - shock state due to factors such as inventory accumulation and weak downstream demand [15]. - **Short - Fiber**: Prices are slightly rising, but the upward space is limited, and it can be short - sold in the medium term [15]. - **Methanol**: Supply is increasing, demand is weakening, and inventory is rising. It is in a short - term shock - weak state with limited downward space [16]. - **PP**: Supply is still loose, and it is expected to be in a shock - weak state in the short term [16]. - **LLDPE**: Supply is increasing, demand improvement is limited, and it is expected to be in a shock - weak state [16]. - **Urea**: Supply pressure is expected to increase, demand is weak, and prices are expected to be low in the medium - to - long term [17]. Agricultural Products - **US Soybeans**: Prices are rising. The crop rating is declining, and the harvest rate is slightly lower than last year [18]. - **Soybean and Rapeseed Meal**: The short - term supply is excessive, but the price center may rise in late September and October [18]. - **Oils and Fats**: Soybean oil supply is sufficient, and consumption support is limited. Rapeseed oil inventory is decreasing, and the market is bullish. Palm oil demand is weakening, and production concerns exist [19]. - **Corn**: New - season prices are chaotic at the beginning, but the expected decline is limited. Futures are in a short - term correction, but the low - valuation support is strong [19][20]. - **Pigs**: The supply in September is increasing, and the price rebound expectation is reduced. There may be an over - seasonal pressure on prices from October to November [20].

隔夜国际油价上行，布伦特11合约涨1.51%。近期俄乌博弈再次加码，乌克兰频繁袭击俄罗斯炼厂 及出口港口，上周末遇袭的Kirishi地区炼厂炼能40万桶/天在全国占比6.4%，总体受损炼厂开工或 在10万桶/天之内；出口能力100万桶/天的西北部Primorsk港口亦因遇袭影响9月装船计划。 此外， 市场预期周三结束的联储议息会议将至少降息25bp，对商品市场情绪构成短期支撑。原油价格中期 偏空趋势不变，短期地缘因素或对供应有阶段性犹动，但反弹空间愈发受限，继续关注高位空单与 看涨期权相结合的策略组合。 gtaxinstitute@essence.com.cn 综合晨报 2025年09月17日 【原油】 (责金属) 隔夜贵金属震荡，美国公布8月零售销售月率录得0.6%，高于预测的0.2%和前值0.50%。市场定价美 联储年内将连续降息三次，特朗普称需要更快速的降息，聚焦明日凌晨美联储会议降息幅度以及鲍 威尔讲话对未来路径的指引。 【铜】 隔夜铜价阴线走低,短线仓量获利了结,市场静待联储会议。国内现铜上调到81120元,换月后沪 粤升水75、40元。铜价突破再涨,需重点关注资金兴趣,目前仓量一般。多单择机止盈观 ...

Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - Abiove adjusted its forecasts for Brazil's 2024/25 soybean - related products, maintaining the soybean production and export volume forecasts, while increasing the forecasts for soybean crushing volume, bean - meal production, and soybean oil production [1]. - The NOPA monthly report showed that the U.S. soybean crushing volume in August decreased but was still higher than expected, and the soybean oil inventory at the end of August reached an eight - month low [1]. - Ukraine's rapeseed trade has been stagnant for two consecutive weeks due to export chaos, and there may be short - term price fluctuations [1]. 3. Summary by Related Catalogs Overnight Market Information - **Brazil**: Abiove kept the forecast of Brazil's 2024/25 soybean production at 170.3 million tons and the 2025 soybean export volume at 109.5 million tons. It raised the 2025 soybean crushing volume forecast to 58.5 million tons from 58.1 million tons, the 2024/25 bean - meal production forecast to 45.1 million tons from 44.8 million tons, and the 2024/25 soybean oil production forecast to 11.7 million tons from 11.65 million tons. The forecasts for 2024/25 bean - meal and soybean oil export volumes were unchanged at 23.6 million tons and 1.35 million tons respectively [1]. - **USA**: NOPA reported that U.S. member units crushed 189.81 million bushels of soybeans in August, 3.0% less than in July and 20.1% more than in August 2024. The average daily crushing volume was 6.123 million bushels, the lowest since last September. The soybean oil inventory at the end of August dropped to 1.245 billion pounds, 9.7% lower than at the end of July but 9.4% higher than the same period last year. The U.S. produced 4,512,904 short tons of bean - meal and 2.272749 billion pounds of soybean oil in August [1]. - **Ukraine**: Ukraine's rapeseed export has been blocked for two consecutive weeks due to disputes over customs documents after a 10% export tariff on rapeseed and soybeans. The Black Sea rapeseed CPT price dropped by $10 to $525 per ton last week. The rapeseed oil export volume from September 5 - 11 was 9,300 tons, down from 129,000 tons the previous week. Ukrainian agricultural enterprises may postpone rapeseed sales until November or December [1]. Spot Prices - The spot prices of soybean meal in Jiangsu, rapeseed meal in Guangdong, soybean oil in Jiangsu, palm oil in Guangzhou, and rapeseed oil in Jiangsu from September 10 - 16, 2025, showed certain fluctuations [4].

首席 点 评 ： 黄金刷新历史高位 美国8月零售销售环比增0.6%，连续三个月超预期增长，实际零售销售连续11个月增长。尽管经济面临 挑战，但在薪资增长和股市财富效应支撑下，美国消费者支出依然强劲，或将为美联储的降息决策带来 新的考量。潘功胜指出，区块链和分布式账本等新兴技术推动央行数字货币等发展，重塑传统支付体 系，大幅缩短跨境支付链条，同时也对全球金融监管和合作提出了挑战。对于快速扩张的加密资产市场 和气候风险相关的监管框架，全球监管协调不足，监管取向大幅摆动并受过强的政治因素驱动。商务部 等9部门发布《关于扩大服务消费的若干政策措施》。措施提出，优化学生假期安排，完善配套政策 。 重点品种： 黄金、铜、原油 黄金： 金银冲高回落。美国8月零售销售表现强劲，环比增长0.6%，预估为0.2%。同比增长2.1%，实现 连续第11个月实现正增长。上周公布的8月CPI同比上涨2.9%。核心通胀同比仍为3.1%。8月PPI环比意 外下降0.1%，预期为上涨0.3%。同比上涨2.6%，低于市场预期的3.3%，强化9月降息预期。本月多项数 据显示美国经济就业市场疲弱，尤其是非农就业2.2万人，大幅低于低于市场预期的7. ...

Group 1: Core Insights - The article highlights the significant progress made in the Xinjiang Uygur Autonomous Region over the past 70 years, particularly focusing on the collaboration between Suzhou and Horgos, which has been ongoing for 15 years [1] - The Suzhou-Horgos partnership emphasizes a comprehensive approach to aid, focusing on industry development, livelihood improvement, and cultural exchange [1] Group 2: Economic Development Initiatives - The Jiangsu Aid to Xinjiang Suzhou Working Group has invested nearly 3 million yuan to establish a Horgos agricultural product exhibition center, facilitating the sale of 1.3 billion yuan worth of Xinjiang agricultural products [2] - The group aims to transition from "blood transfusion" to "blood production," enhancing local agricultural technology and establishing a full industrial chain for products like persimmons and honey [2][4] - A financing lease of 24 million yuan was introduced to support local enterprises, marking a significant step in providing accessible financing options [3] Group 3: Education and Workforce Development - The construction of a vocational education park in Horgos, with a total investment of approximately 850 million yuan, aims to address the local shortage of skilled labor by providing training for 7,500 students [5] - The Horgos Technical School has established partnerships with Suzhou technical colleges to offer various vocational training programs, achieving a high employment rate for graduates [5] Group 4: Healthcare and Social Support - The Jiangsu Aid to Xinjiang Suzhou Working Group has facilitated the introduction of medical experts to improve healthcare services in Horgos, treating over 3,121 patients and performing 48 surgeries [6] - Significant donations from various organizations have been made to support education and social welfare in Horgos, totaling 6.09 million yuan [6] Group 5: Cultural Exchange and Community Building - Regular cultural exchanges between Suzhou and Horgos have fostered community ties, with numerous events promoting mutual understanding and appreciation of each other's heritage [7][8] - The "Su-Yun Yi-Qing" cultural exchange year series has seen extensive participation, with over 1,000 individuals engaging in various activities, enhancing cultural integration [8]

0:00/1:54 在国务院新闻办公室今天（9月16日）举行的"高质量完成'十四五'规划"系列主题新闻发布会上， 农业农村部负责人介绍，"十四五"时期，我国农业农村发展保持了稳中有进、稳中向好的良好势头。 "十四五"时期，我国粮食产量迈上新台阶，去年粮食产量首次突破1.4万亿斤，比2020年增产了740 亿斤。目前，人均粮食占有量达到500公斤，做到了谷物基本自给、口粮绝对安全。 全面打赢脱贫攻坚战以后，党中央决定设立5年过渡期，今年是过渡期最后一年。全国累计识别帮 扶600多万监测对象稳定消除了返贫致贫的风险，脱贫人口务工就业规模这几年一直稳定在3000万人以 上，牢牢守住了不发生规模性返贫致贫的底线。 "十四五"时期，乡村产业蓬勃发展，去年全国规模以上农产品加工业企业营收达到了18万亿元左 右，农村人居环境明显改善，农村的教育、医疗、养老等公共服务水平不断提升。 我国坚持用现代设施装备和科学技术服务农业，累计建成高标准农田超过10亿亩，去年底农业科技 进步贡献率达到63.2%，农作物耕种收综合机械化率超过75%，农作物的良种覆盖率超过96%。 ...