Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core Views - Corn: In the short - term, corn prices will continue to fluctuate with an upper limit and a lower support. In the long - term, prices are expected to decline under pressure until domestic consumption improves or there is a reluctance to sell in production areas [3]. - Starch: In the short - term, the starch market will continue to fluctuate weakly. In the long - term, a bearish view on starch prices is maintained [3]. - Sugar: Internationally, Brazilian sugar production has uncertainties. Domestically, Zheng sugar follows the trend of raw sugar, and there is significant upward pressure on the futures price due to the upcoming arrival of a large amount of imported sugar [6]. - Cotton: It has entered a consolidation phase, waiting for demand verification. If there are no major macro - risks, the price decline is limited, and attention should be paid to changes in demand [9]. - Eggs: Due to supply - demand imbalance, egg prices declined in early August. Attention should be paid to the pace of old hen culling and the release of cold - stored eggs [12]. - Apples: The new - season apple production is expected to be similar to last year. The current consumption is in the off - season, and attention should be paid to the situation after bag removal [14]. - Pigs: There is still medium - term supply pressure, and futures prices are at a premium. Short - term spot prices are weakly fluctuating, and attention should be paid to factors such as the pace of slaughter, weather, and policies [14]. 3. Summary by Commodity Corn/Starch - **Price Data**: From August 12 - 18, the price in Changchun remained unchanged, while in Jinzhou it decreased by 10 yuan/ton, and in Weifang it increased by 40 yuan/ton. For starch, the prices in Heilongjiang and Weifang remained unchanged [2]. - **Market Analysis**: In the short - term, corn prices will fluctuate, and starch prices will be weakly fluctuating. In the long - term, corn prices are expected to decline, and a bearish view on starch prices is maintained [3]. Sugar - **Price Data**: From August 12 - 18, the spot prices in Liuzhou and Nanning remained unchanged, while in Kunming it decreased by 5 yuan/ton. The import profit increased, and the number of warehouse receipts decreased by 172 [6]. - **Market Analysis**: Internationally, Brazilian sugar production has uncertainties. Domestically, there is significant upward pressure on the futures price due to the upcoming arrival of a large amount of imported sugar [6]. Cotton/Cotton Yarn - **Price Data**: From August 12 - 18, the price of 3128 cotton remained unchanged, and the price of imported M - grade US cotton decreased slightly. The spot price of Vietnamese yarn increased by 50 yuan/ton [9]. - **Market Analysis**: Cotton has entered a consolidation phase, waiting for demand verification. If there are no major macro - risks, the price decline is limited [9]. Eggs - **Price Data**: From August 12 - 18, egg prices in various production areas increased, with the largest increase of 0.22 yuan in Hebei and Liaoning. The basis decreased by 30 [12]. - **Market Analysis**: Due to supply - demand imbalance, egg prices declined in early August. Attention should be paid to the pace of old hen culling and the release of cold - stored eggs [12]. Apples - **Price Data**: From August 12 - 18, the price of Shandong 80 first - and second - grade apples remained unchanged, and the national apple inventory decreased by 76,000 tons [13][14]. - **Market Analysis**: The new - season apple production is expected to be similar to last year. The current consumption is in the off - season, and attention should be paid to the situation after bag removal [14]. Pigs - **Price Data**: From August 12 - 18, pig prices in various production areas decreased slightly, and the basis increased by 25 [14]. - **Market Analysis**: There is still medium - term supply pressure, and futures prices are at a premium. Short - term spot prices are weakly fluctuating, and attention should be paid to factors such as the pace of slaughter, weather, and policies [14].

Group 1 - The core viewpoint of the article highlights that the A-share market has entered a new era with a total market value surpassing 100 trillion yuan, driven by government policies and market confidence [1] - The State Council's top-level deployment aims to consolidate the economic recovery, supported by a series of financial policies including interest rate cuts and reserve requirement ratio reductions [1] - Significant inflows of capital from public funds, private equity, insurance funds, and foreign investments indicate strong investor confidence in policy benefits and economic transformation [1] Group 2 - The article discusses the performance of major indices, noting that the US stock indices experienced slight fluctuations, with the communication sector leading gains and real estate lagging [2] - It mentions that the financing balance increased by 7.542 billion yuan, reaching 20,485.99 billion yuan, reflecting a continuation of loose domestic liquidity [2] - The market is currently in a phase of "policy bottom + capital bottom + valuation bottom," suggesting a high probability of sustained market performance, although sector rotation and structural differentiation are expected [2] Group 3 - The article reports that the US inflation data exceeded expectations, putting pressure on gold and silver prices, with the PPI rising by 0.9% month-on-month and 3.3% year-on-year [3] - It notes that the US Treasury Secretary indicated a significant likelihood of a 50 basis point rate cut in September, which could influence market expectations [3] - The overall market sentiment is affected by concerns over employment data and the economic outlook, leading to a potential for gold and silver prices to fluctuate [3] Group 4 - The article highlights that the SC night market for crude oil rose by 0.7%, while the US initial jobless claims decreased against a backdrop of low layoffs [4] - It emphasizes that domestic demand remains weak, which may push the unemployment rate to 4.3% in August [4] - The article suggests that traders are reducing bets on a rate cut by the Federal Reserve due to rising inflation concerns [4] Group 5 - The article outlines key domestic news, including the emphasis by Premier Li Qiang on enhancing macro policy effectiveness and stabilizing market expectations [6] - It discusses the need to stimulate consumption and promote effective investment, particularly in the real estate sector [6] - The National Medical Insurance Administration announced nine key tasks to improve healthcare financing, indicating a focus on healthcare reforms [7]

8月18日，记者从省农业农村厅获悉：我省日前发布《农产品区域公用品牌培育指南》和《农产品 区域公用品牌监测技术规范》两项省级地方标准，均于9月9日起实施。 省农业农村厅市场信息处相关负责人表示，近年来，陕西将农业品牌培育提升作为扎实推进特色现 代农业建设的重要抓手，培育了一批在国内有竞争力、在国际上有影响力的精品农业品牌。目前，我省 省级及以上区域公用品牌40个、市级区域公用品牌60个，带动了1000个企业品牌和产品品牌共同发展， 具有陕西特色的农业品牌发展体系基本形成。（记者：吴莎莎） 两项省级地方标准聚焦农产品区域公用品牌的全生命周期管理，从培育到监测形成完整闭环。其 中，培育指南阐明了品牌培育的规划制定、机制构建、服务支持及评价改进等核心环节，为区域公用品 牌持有主体提供了清晰的可实际操作路径；监测技术规范明确了监测指标体系、数据采集方法、监测结 果应用等关键内容，为完善农业品牌能进能出的准入准出机制提供了标准化支撑。 此次发布的两项省级地方标准，将与陕西省农产品区域公用品牌管理办法共同构建起农业品牌"管 理+技术"的双重保障体系，解决长期以来农产品区域公用品牌管理中存在的"标准体系不全、实践指导 不足 ...

近两年多来，国际粮食价格处于低位，尤其小麦、玉米、大豆价格跌回此前高点的一半左右。2024 年以来，国内粮价也出现了一定程度回落，尽管跌幅明显小于国际市场。受需求不足和进口冲击影响， 我国农产品价格总体呈偏弱运行态势，部分品种下跌时间长且跌幅大。例如，牛奶牛肉价格下行，养殖 场户亏损严重。在纾困政策支持下，今年上半年，肉牛养殖总体已扭亏为盈，奶牛养殖亏损有所减轻。 农业是为耕者谋利、为食者造福的产业。农产品价格，一头连着消费者，一头连着生产者。对消费 者来说，要让其买得起营养健康的农产品，价格不能过高；对生产者来说，要有一定的利益激励才可持 续，价格不能过低，更不能低于成本。所谓合理水平，就是要在两者之间达到动态平衡，既让消费者满 意，又让生产者高兴。这既是应对各种风险的现实选择，更是建设农业强国的重要砝码。 价格是市场的脉搏，其变动关系产业发展。日前召开的中央政治局会议提出，夯实"三农"基础，推 动粮食和重要农产品价格保持在合理水平。 把握进口的节奏和规模。我国农产品进口快速增长，对国内农产品价格造成的不利影响日益明显， 不利于保护农民利益和农业产业安全。今年中央一号文件提出，完善农产品贸易与生产协调机制。 ...

Core Insights - Henan Province's foreign trade import and export reached 483.38 billion yuan in the first seven months, growing by 22.3% year-on-year, significantly outpacing the national growth rate of 3.5% by 18.8 percentage points, marking a historical high for the same period [1] - Exports totaled 324.31 billion yuan, an increase of 32.8%, while imports were 159.07 billion yuan, growing by 5.4% [1] Group 1: Trade Dynamics - The vitality of foreign trade entities has increased, with private enterprises becoming the main engine for trade growth, and foreign-invested enterprises showing the fastest growth rate [1] - The number of foreign trade enterprises in Henan reached 12,200, an increase of 1,200 year-on-year, with 636 enterprises having an import and export value exceeding 50 million yuan, accounting for 88.1% of the province's total foreign trade [1] - Private enterprises' import and export value was 356.06 billion yuan, up 17.7%, representing 73.7% of the total foreign trade value; foreign-invested enterprises had an import and export value of 96.36 billion yuan, growing by 64.4% [1] Group 2: Export Markets - Henan's export markets have diversified, with significant growth in trade with the EU, South Korea, and Japan [2] - Exports to the EU reached 65.76 billion yuan, growing by 28.7%; exports to ASEAN were 64.8 billion yuan, up 8.4%; exports to South Korea were 31.86 billion yuan, increasing by 16.6%; and exports to Japan surged by 133.4% to 31.65 billion yuan [2] - Trade with Belt and Road countries amounted to 236.44 billion yuan, growing by 16.1%, while trade with RCEP member countries reached 144.54 billion yuan, increasing by 26% [2] Group 3: Export Products - The "new" and "green" content of Henan's foreign trade has further improved, with high-tech product exports reaching 114.4 billion yuan, growing by 33.4%, contributing 35.8% to the overall export growth [2] - Exports of electric vehicles, lithium batteries, and photovoltaic products, representing green low-carbon products, totaled 16.09 billion yuan, a remarkable increase of 158.1% [2] - Exports of agricultural products and silver also maintained rapid growth, reaching 9.84 billion yuan and 7.78 billion yuan, with growth rates of 28.9% and 20.7%, respectively [2] Group 4: Import Products - Certain key raw materials and agricultural products saw rapid growth in imports, with imports of electromechanical products totaling 87.71 billion yuan, growing by 10.2% [3] - Integrated circuits accounted for 34.24 billion yuan in imports, increasing by 8.8%, while automatic data processing equipment and parts surged by 642.5% to 4.69 billion yuan [3] - Agricultural product imports reached 9.53 billion yuan, growing by 28.4%, and imports of unrefined copper and copper materials totaled 5.76 billion yuan, increasing by 81% [3]

Group 1 - The core viewpoint emphasizes the need to maintain reasonable prices for grain and important agricultural products to balance the interests of consumers and producers [1][3] - Recent trends show that international grain prices have dropped significantly, with wheat, corn, and soybean prices returning to about half of their previous highs, while domestic grain prices have also seen a decline, albeit less pronounced [1] - The agricultural sector is described as a weak industry with low comparative benefits, necessitating a robust support system to ensure farmers' income and production capacity [2] Group 2 - The article highlights the importance of improving the agricultural support and protection system, including a comprehensive mechanism for price, subsidies, and insurance to safeguard farmers' earnings [2] - It stresses the need to manage the rhythm and scale of agricultural imports to mitigate adverse effects on domestic prices and protect farmers' interests [2] - The necessity of strengthening market operation monitoring and ensuring stable supply through effective disaster prevention measures and improved logistics for agricultural products is emphasized [3]

Group 1 - The geopolitical landscape has experienced significant turbulence, with the U.S. adjusting its economic policies towards China and India, drawing global media and investor attention [1] - Trump's decision to delay tariffs on Chinese oil purchases is influenced by concerns over rising global oil prices and inflationary pressures in the U.S. [2][3] - Rubio's comments highlight the potential global energy price repercussions of sanctions on China, indicating a shift in U.S. policy towards China [5] Group 2 - India has been adversely affected by U.S. tariffs, with a cumulative 50% tariff on Indian goods due to oil purchases from Russia, impacting over $42 billion in exports [5] - The U.S. has accused India of "arbitraging" Russian oil, which has led to widespread discontent in India's political and business circles [7] - Modi's government remains firm against U.S. pressure, emphasizing the protection of Indian farmers amidst ongoing trade negotiations [9] Group 3 - The U.S. and India have been unable to resolve agricultural trade issues, with five rounds of negotiations failing to break the deadlock [6] - China's dominant position in the global energy market is a critical factor in U.S. decision-making, with projections indicating that by 2025, China will account for 27% of global crude oil imports [13] - The U.S. strategy towards India is seen as a double standard, as it seeks to use India as a counterbalance to China without fully elevating India's status [16] Group 4 - The ongoing geopolitical tensions and trade disputes are reshaping global economic relationships, with the upcoming SCO summit being a focal point for potential India-China cooperation [19] - Financial markets are closely monitoring these developments, with potential volatility in Asia-Pacific markets if U.S.-China trade tensions escalate [21]

Report Industry Investment Rating No relevant content provided. Core Viewpoints - The commodity market may fluctuate in the short - term due to weak Sino - US economic data. The oil and fat sector may be relatively strong, while the precious metals sector may adjust with fluctuations. Each sub - sector has different trends based on their own fundamentals and macro - economic factors [1]. - The non - ferrous sector may face pressure due to weak Sino - US economic data and low demand during the off - season. The black sector may fluctuate, with attention on the limit - production intensity near the military parade. The energy sector may see oil prices fluctuate weakly, and the chemical sector has different trends for different products [2]. - The agricultural sector has different trends for different products. The oil and fat sector may fluctuate strongly, while the rapeseed sector may face pressure [3]. Summary by Relevant Catalogs Market Performance - The commodity market rose slightly by 0.52% last week, with agricultural products leading the rise at 1.25%. Non - ferrous and energy - chemical sectors rose by 0.99% and 0.59% respectively, while precious metals and black sectors fell by 1.23% and 0.27% respectively [1][5]. - The top - gainers were palm oil (5.11%), soda ash (4.73%), and cotton (2.32%), and the top - losers were fuel oil (2.71%), methanol (2.55%), and eggs (2.3%) [1]. - The 20 - day average volatility of the commodity market decreased slightly, with the agricultural and black sectors showing an upward trend in volatility. The overall market scale decreased slightly, and the out - flowing funds were mainly concentrated in the precious metals sector [1]. Sector Outlook - **Precious Metals**: The sector declined significantly last week. With the cooling of risk - aversion sentiment, it may adjust with fluctuations in the short - term [1]. - **Non - ferrous Metals**: Sino - US economic data is weak, and the demand is at a low level during the off - season. The sector may face pressure in the short - term [2]. - **Black Metals**: The apparent demand for rebar continued to decline, and inventory accumulation accelerated. The sector may fluctuate in the short - term, with attention on the limit - production intensity near the military parade [2]. - **Energy**: The market's expectation of a loose supply - demand relationship is strengthened, and the oil price may fluctuate weakly in the short - term [2]. - **Chemical Industry**: The terminal demand for polyester products is expected to rebound, and the valuation of PX is improving. The glass price is supported by cost, while soda ash may face pressure [2]. - **Agricultural Products**: The USDA August report is positive for US soybeans. The oil and fat sector may fluctuate strongly in the short - term, while the rapeseed sector may face pressure [3]. Commodity Fund Overview - Gold ETFs had an overall decline of 1.28%, and the total commodity ETFs had a decline of 0.51%. Different commodity ETFs had different performance in terms of net value, yield, scale, share change, and trading volume [38].

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core View - The inventory build - up of Malaysian palm oil in July was lower than expected, leading to an increase in palm oil prices [1] 3. Summary by Directory 3.1行情回顾 - The report covers BMD Malaysian palm oil, DGE palm oil, palm oil产区 weather, international supply - demand, domestic supply - demand, and domestic and international palm oil futures - spot prices and spreads [4] 3.2 International Supply and Demand - **MPOB July Report**: No detailed content provided - **India SEA July Report**: No detailed content provided - **Malaysian Palm Oil August Forecast**: No detailed content provided - **Other Important Information**: No detailed content provided - **Export Data**: - According to AmSpec on 2025/8/15, Malaysian exports were 696,425, a 21.3% increase from the previous month and a 16.14% increase from the same period last year. Exports of different types of palm oil had varying trends, with 24 - degree palm oil up 54.23% month - on - month and 44 - degree palm oil up 63.24% month - on - month [25] - According to another data source on 2025/8/15, Malaysian exports were 724,191, a 16.5% increase from the previous month and a 13.60% increase from the same period last year. Exports to major markets such as the EU, India and the sub - continent increased, while exports to China decreased by 76.31% month - on - month [25] - According to SES on 2025/8/10, Malaysian exports were 339,143, a 65.25% increase from the previous month and a 30.77% decrease from the same period last year. Exports to India increased significantly by 137.04% month - on - month, while exports to China decreased by 25.43% month - on - month [27] 3.3 Domestic Supply and Demand - **Import Profit**: No detailed content provided - **Palm Oil Transactions**: No detailed content provided - **Palm Oil Inventory**: No detailed content provided 3.4 Domestic and International Palm Oil Futures - Spot Prices, Spreads - **Basis, Monthly Spread, Variety Spread**: No detailed content provided - **Palm Oil Warehouse Receipt Quantity and Futures Open Interest**: No detailed content provided - **FOB Quote**: No detailed content provided

1. Report Industry Investment Ratings No information about industry investment ratings is provided in the report. 2. Core Views of the Report - The macro - economic recovery momentum needs to be strengthened, and it is expected that the monetary policy will remain loose. Treasury bond futures are expected to have no trend - based market, and a cautious attitude should be maintained [6]. - The long - term performance of Chinese equity assets is optimistic, and it is advisable to consider going long on stock index futures [9]. - The long - term bull market trend of precious metals is expected to continue, and it is advisable to consider going long on gold futures [12]. - For steel products such as rebar, hot - rolled coil, iron ore, etc., investors can pay attention to buying opportunities during pull - backs and manage positions carefully [14][15]. - Crude oil prices are expected to be weak, and it is advisable to temporarily observe the main crude oil contract [22][23]. - For fuel oil, it is advisable to shrink the spread between high - and low - sulfur fuel oil [26]. - For synthetic rubber, wait for it to stabilize and participate in the rebound [28]. - For natural rubber, consider going long after a pull - back [31]. - PVC will continue to fluctuate at the bottom [32]. - Urea will fluctuate in the short - term and is expected to be bullish in the medium - term [35]. - PX will fluctuate and adjust in the short - term, and interval trading can be considered [36]. - PTA may have a pull - back adjustment in the short - term, and interval trading can be considered [37]. - Ethylene glycol may be suppressed by short - term supply increases, and interval trading is advisable, paying attention to port inventory and import changes [38]. - Short - fiber may fluctuate with costs in the short - term, and attention should be paid to cost changes and macro - policy adjustments [39]. - Bottle - grade chips are expected to fluctuate with the cost side [41]. - For soda ash, pay attention to controlling positions due to the increase in supply and weak demand [42]. - For glass, go short in the short - term, and pay attention to controlling positions due to capital - side disturbances before contract roll - over [43]. - For caustic soda, the price is expected to stabilize, and attention should be paid to the impact of imported ore on consumption and prices [45]. - For pulp, the supply contraction expectation dominates, but the demand improvement is of uncertain sustainability, and there is a game between high inventory and macro - sentiment [47]. - For lithium carbonate, the trading logic has shifted, and it is advisable for non - participating investors to operate with a light position and control risks [49]. - For copper, pay attention to buying opportunities for the main Shanghai copper contract [52][53]. - Tin and nickel prices are expected to fluctuate [54][55]. - For soybean oil and soybean meal, consider exiting long positions at stage highs and then look for long - entry opportunities after adjustment [57]. - For palm oil, consider reducing long positions and holding them lightly [60]. - For rapeseed meal and rapeseed oil, consider reducing long positions and holding them [62]. - Cotton prices are expected to be strong in the short - term [65]. - Sugar is recommended to be observed, showing interval - based fluctuations [69][70]. - Apple futures are expected to be affected by increased production [71]. - For live pigs, consider a reverse - spread strategy [74]. - For eggs, consider gradually taking profits on the 9 - 10 reverse spread [77]. - Corn prices have support at lower levels in the short - term and pressure at higher levels, and corn starch follows the corn market [79][80]. - Log prices are expected to be supported by bullish sentiment in the short - term [83]. 3. Summaries According to Relevant Catalogs Treasury Bonds - The previous trading day, most treasury bond futures closed down. The central bank conducted 238 billion yuan of 7 - day reverse repurchase operations, with a net injection of 116 billion yuan. The macro - economic recovery momentum needs to be strengthened, and treasury bond futures are expected to have no trend - based market [5][6]. Stock Index Futures - The previous trading day, stock index futures showed mixed performance. The central bank will implement a moderately loose monetary policy. The long - term performance of Chinese equity assets is optimistic, and it is advisable to consider going long [8][9]. Precious Metals - The previous trading day, gold and silver futures closed down. The US retail sales data was stable, and the "anti - globalization" and "de - dollarization" trends are beneficial to gold. The long - term bull market trend of precious metals is expected to continue, and it is advisable to consider going long on gold futures [10][12]. Rebar and Hot - Rolled Coil - The previous trading day, rebar and hot - rolled coil futures slightly declined. Policy changes dominate the market in the short - term, and the prices are expected to be determined by supply - demand fundamentals in the medium - term. The real estate downturn suppresses rebar prices, and investors can pay attention to buying opportunities during pull - backs [14]. Iron Ore - The previous trading day, iron ore futures slightly pulled back. Policy is the dominant factor, and iron ore prices follow coking coal. The high demand for hot metal supports prices, but the supply has increased. The short - term supply - demand pattern is strong, and investors can pay attention to buying opportunities during pull - backs [15]. Coking Coal and Coke - The previous trading day, coking coal and coke futures fluctuated and sorted. Policy affects supply, and prices may continue to adjust in the short - term. Investors can pay attention to buying opportunities during pull - backs [17]. Ferroalloys - The previous trading day, manganese silicon and silicon iron futures declined. Manganese ore supply and prices have changed, and the cost of ferroalloys has increased. The supply is excessive, and investors can consider long - entry opportunities at low levels [19][20]. Crude Oil - The previous trading day, INE crude oil fluctuated upwards and was blocked by the 5 - day moving average. The "Double - Putin" talks and CFTC data indicate that crude oil prices are expected to be weak, and it is advisable to temporarily observe [21][22]. Fuel Oil - The previous trading day, fuel oil fluctuated downwards. The Asian high - sulfur fuel oil market shows signs of improvement, but the supply in Singapore is still excessive. It is advisable to shrink the spread between high - and low - sulfur fuel oil [24][25]. Synthetic Rubber - The previous trading day, synthetic rubber futures rose. Losses have increased, supply has decreased, and the market sentiment is positive. Wait for it to stabilize and participate in the rebound [27]. Natural Rubber - The previous trading day, natural rubber futures rose. The macro - market sentiment has warmed up, and supply - side disruptions continue. Consider going long after a pull - back [29][31]. PVC - The previous trading day, PVC futures declined. The supply exceeds demand, but the downward space is limited. It will continue to fluctuate at the bottom [32]. Urea - The previous trading day, urea futures closed flat. The short - term fundamentals change little, and it will fluctuate. It is expected to be bullish in the medium - term [33][35]. PX - The previous trading day, PX futures rose. The supply has increased, and the cost support is weak. It will fluctuate and adjust in the short - term, and interval trading can be considered [36]. PTA - The previous trading day, PTA futures rose. The supply has slightly increased, demand has slightly improved, and the cost support is weak. It may have a pull - back adjustment in the short - term, and interval trading can be considered [37]. Ethylene Glycol - The previous trading day, ethylene glycol futures declined. The supply has increased, and the port inventory has accumulated. It may be suppressed by short - term supply increases, and interval trading is advisable [38]. Short - Fiber - The previous trading day, short - fiber futures rose. The supply is at a relatively high level, demand has improved, and the supply - demand contradiction is not significant. It may fluctuate with costs in the short - term [39]. Bottle - Grade Chips - The previous trading day, bottle - grade chips futures rose. The supply has decreased due to maintenance, and demand has recovered. It is expected to fluctuate with the cost side [40][41]. Soda Ash - The previous trading day, soda ash futures rose. Supply has increased, demand is weak, and the price is expected to decline. Pay attention to controlling positions [42]. Glass - The previous trading day, glass futures declined. The inventory reduction speed has slowed down, and demand is weak. Go short in the short - term, and pay attention to controlling positions due to capital - side disturbances [43]. Caustic Soda - The previous trading day, caustic soda futures declined. Supply has little change, and inventory has decreased. The use of imported ore may affect consumption and prices, and the price is expected to stabilize [44][45]. Pulp - The previous trading day, pulp futures rose slightly. The supply contraction expectation dominates, but the demand improvement is of uncertain sustainability. The inventory is high, and the price rebound space is limited [46][47]. Lithium Carbonate - The previous trading day, lithium carbonate futures rose. The trading logic has shifted, and it is advisable for non - participating investors to operate with a light position and control risks [48][49]. Copper - The previous trading day, Shanghai copper slightly fluctuated. The copper concentrate is in short supply, and the Fed's interest - rate cut expectation and smooth Sino - US trade negotiations support copper prices. Pay attention to buying opportunities [51][52]. Tin - The previous trading day, Shanghai tin fluctuated. The ore supply is tight, and the market expects the tin ore to resume production in the fourth quarter. The supply is still in short supply, and the price is expected to fluctuate [54]. Nickel - The previous trading day, Shanghai nickel rose. The ore price has weakened, the inventory has increased, and the demand is weak. The primary nickel is in an oversupply situation, and the price is expected to fluctuate [55]. Soybean Oil and Soybean Meal - The previous trading day, soybean oil and soybean meal futures declined. The USDA report lowered the US soybean planting area. The domestic soybean supply is loose, and the import cost has increased. Consider exiting long positions at stage highs and then look for long - entry opportunities after adjustment [56][57]. Palm Oil - Malaysian palm oil rose. The export volume in the first half of August increased. The domestic palm oil inventory has accumulated. Consider reducing long positions and holding them lightly [58][59]. Rapeseed Meal and Rapeseed Oil - Canadian rapeseed futures rose. China imposed anti - dumping duties on Canadian rapeseed. The domestic rapeseed supply may be tight in the short - term. Consider reducing long positions and holding them [61][62]. Cotton - The previous trading day, domestic cotton futures fluctuated. The US and global cotton supply - demand reports were favorable. The domestic cotton inventory has decreased, and textile exports have declined. The price is expected to be strong in the short - term [63][65]. Sugar - The previous trading day, domestic sugar futures rebounded slightly. The Brazilian sugar production has accelerated, and Thailand and India are expected to have a bumper harvest. The domestic inventory is low, but imports will be high before October. It is recommended to observe [67][69]. Apple - The previous trading day, apple futures fluctuated. The expected apple production increase has been confirmed. The inventory has decreased, and the price of early - maturing apples has declined [71]. Live Pigs - The previous trading day, the national average live - pig price declined. The supply in the north has increased, and the price is expected to be observed. The supply in the south is stable. The supply will increase in August, and it is advisable to consider a reverse - spread strategy [73][74]. Eggs - The previous trading day, the egg price rose slightly. The cost is high, and the inventory has increased. The supply in August is expected to increase, and consider gradually taking profits on the 9 - 10 reverse spread [75][77]. Corn and Corn Starch - The previous trading day, corn and corn starch futures declined. The domestic corn supply - demand is approaching balance, and the inventory pressure has decreased. The new - season corn is expected to have a bumper harvest, and the price has pressure. Corn starch follows the corn market [78][80]. Logs - The previous trading day, log futures rose. The expected arrival of New Zealand logs has decreased, and the inventory has declined. The trading volume has increased, and the price is expected to be supported by bullish sentiment in the short - term [81][83].