美玉米 11 月报告下调单产，美玉米反弹，产量仍处于高位，美玉米窄幅震荡。美 玉米配额内关税为 11%，高粱为 12%，国外玉米进口利润下跌，12 月巴西进口价格 2138 元。今日北方港口平仓价稳定，基本 2220 元附近，东北玉米产区现货上涨。华北 研究所 农产品研发报告 玉米淀粉日报 2025 年 11 月 18 日 玉米淀粉日报 第一部分 数据 | 玉米&玉米淀粉数据日报 | | | | | | | | 2025/11/18 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 期货盘面 | | | | | | | | | | 期货 | | 收盘价 | 涨跌 | 涨跌幅 | 成交量 | 增减幅 | 持仓量 | 增减幅 | | C2601 | | 2168 | -14 | -0.65% | 504,544 | 0.89% | 943,129 | 0.97% | | C2605 | | 2241 | -2 | -0.09% | 48,227 | -39.07% | 304,764 | 1.98% | | C2509 | | 2267 | - ...

证券之星消息，11月18日农产品加工板块较上一交易日下跌0.93%，保龄宝领跌。当日上证指数报收于 3939.81，下跌0.81%。深证成指报收于13080.49，下跌0.92%。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) | | | --- | --- | --- | --- | --- | --- | --- | | 300268 | *ST佳沃 | 14.84 | 12.17% | 7.86万 | | 1.13亿 | | 000972 | *ST中基 | 4.19 | 1.70% | 21.38万 | | 8995.35万 | | 000505 | 京根控股 | 7.39 | 0.14% | 24.72万 | | 1.83亿 | | 003030 | 祖名股份 | 21.93 | 0.00% | 2.21万 | | 4835.84万 | | 605198 | 安德利 | 39.48 | -0.23% | 1.58万 | | 6191.53万 | | 300999 | 金龙鱼 | 32.73 | -0.55% | 9.54万 | | 3. ...

三师红枣甜蜜来 袭，"深红色软 黄金"风靡羊城_ 南方+_南方plus 玛干沙漠边缘， 得益于得天独厚 的光热资源和纯 净天山雪水灌 近日，"疆品南 下 粤品北上"广 东对口援疆地区 名优产品专场展 销活动（第三师 图木舒克市专 场）在广州举 办，被誉为"深 红色软黄金"的 三师红枣登陆羊 城，为冬日广州 带来了一场"疆 品"养生盛宴。 活动现场最亮眼 的当属来自第三 师图木舒克市的 当家产品——红 枣。据现场工作 人员介绍，这些 红枣产自塔克拉 溉，果实饱满、 色泽深红、肉厚 核小、口感甜 糯、营养价值丰 富。 优异的品质使得 三师红枣一亮相 便迅速俘获了广 州市民的味蕾， 在展销现场刮起 了一股"深红 色"的甜蜜旋 风。"广东人最 喜欢煲汤，这些 红枣正合适，新 鲜又实惠，我买 了5斤。"在展位 前选购红枣的市 民陈阿姨说。 除了明星产品红 枣外，现场还展 销了坚果、果 干、冻干食品、 奶制品、棉制品 等第三师图木舒 克市名优产品。 主办方相关负责 人表示，将通过 持续举办此类活 动，进一步加强 广东与新疆两地 的经贸往来、交 流合作，让更 多"疆品"南下， 走进广东千家万 户，同时也推 动"粤品"北上， ...

| G国贸期货 | 日時 路 参 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 发布日期: 20 | 份格号:F02519 | | | | | | | 趋势研判 | 逻辑观点精粹及策略参考 | 行业板块 | 品种 | 当前宏观层面处于相对真空期,A股缺乏明确的上涨主线,市场成 | 交维持低位,预计短期市场分歧将在股指震荡调整中逐步消化, | 農湯 | | 投稿 | 待新的驱动主线带来股指进一步上行。 | 无刘全部 | 资产荒和弱经济利好债期,但短期央行提示利率风险,压制上涨 | | | | | 国 | 震荡 | 至间。 | 近期市场对美联储12月降息预期降温,铜价回调,但预计回调幅 | | | | | 農汤 | 度有限。 | 近期产业面驱动有限,而美联储12月份降息预期降温,铝价回调 | | | | | | 農汤 | JE | 在生产仍有小幅利润情况下,国内氧化铝产能持续释放,氧化铝 | | | | | | 氧化铝 | 产量及库存继续双增,基本面维持偏弱格局,近期价格继续围绕 | HE STAC | 成本线附近震荡运行。 | 美联储12月降 ...

期 货 眼 ·日 迹 每日早盘观察 | 股指期货：下跌初显支撑 3 | | --- | | 国债期货：风偏回落，债市偏暖 4 | 银河期货研究所 2025 年 11 月 18 日 0 / 44 研究所 期货眼·日迹 | 蛋白粕：需求表现良好 | 美豆继续偏强运行 5 | | --- | --- | | 白糖：国内陆续开榨 | 郑糖价格区间震荡 5 | | 油脂板块：油脂分化明显，震荡行情延续 6 | | | 玉米/玉米淀粉：现货继续上涨，盘面偏强震荡 7 | | | 生猪：供应整体稳定 | 现货小幅震荡 8 | | 花生：花生现货偏强，花生短期仍底部震荡 9 | | | 鸡蛋：需求表现一般蛋价稳中有落 10 | | | 苹果：需求表现一般 | 果价稳定为主 11 | | 棉花-棉纱：基本面矛盾不大 | 棉价震荡为主 12 | | 钢材：钢价区间震荡，铁水仍有压减空间 13 | | --- | | 双焦：市场情绪走弱，部分煤种高位回调 13 | | 铁矿：偏空思路对待 14 | | 铁合金：供需双弱，成本支撑区间震荡 15 | | 贵金属：降息预期持续回调 贵金属承压 16 | | --- | | 铜：短期震荡 ...

| 油脂产业期现日报 | 投资咨询业务资格:证监许可 [2011] 1292号 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 王法框 | Z0019938 | 2025年11月18日 | | | | | | | | | | | 田和 | 11月17日 | 11月14日 | 涨跌幅 | 狱跌 | | | | | | | | | 江苏一级 | 8590 | 8590 | 0 | 0.00% | 现价 | 8256 | 0.31% | Y2601 | 8282 | 26 | 期价 | | 墓差 | Y2601 | 308 | 334 | -26 | -7.78% | 现货墓差报价 | 01+270 | 01+270 | 0 | 江苏1月 | 5 | | 24993 | -216 | 仓单 | 24777 | -0.86% | 棕櫚油 | | | | | | | | 11月14日 | 11月17日 | 涨跌幅 | 涨跌 | -0.23% | 广东24度 | 8570 | ...

投资咨询业务资格 沪证监许可[2015]84 号 商品日报 20251118 联系人 李婷、黄蕾 电子邮箱 jytzzx@jyqh.com.cn 主要品种观点 宏观：海外降息预期再收敛，国内风险偏好趋弱 海外方面，美联储内部分歧依旧，副主席杰斐逊称利率已逼近中性、后续降息需谨慎， 下任联储主席候选人沃勒则指出就业几乎停滞、工资压力缓和，支持 12 月再降息 25bp，整 体基调从通胀压制转向关注就业走弱，目前市场定价 12 月降息的概率降至 43%。美元指数 回升至 99.5，美股冲高回落，10Y 美债利率震荡回落至 4.13%，金价、铜价、油价均有所调 整，本周重点关注美国非农就业数据及美股科技板块财报。 国内方面，A 股震荡调整，两市成交额回落至 1.93 万亿，中证 2000、北证 50、微盘股 相对占优，锂矿、林木、互联网等板块领涨。两融余额 11 月以来基本横盘，较三季度的扩 张势头明显放缓，显示加杠杆意愿趋弱。在指数于 4000 点附近反复、基本面数据边际走弱、 内外宽松均处观望的背景下，虽不排除年内再创新高的可能，但更需防范阶段性回调风险， 操作上不宜追高。债市方面，资金面偏紧令短端利率下行空间 ...

Report Industry Investment Ratings No relevant content provided. Core Views of the Report Financial Futures - Overseas, focus on US economic data and the impact of the government shutdown; in China, pay attention to policy support due to a marginal slowdown in the economy [1]. - The RMB exchange rate is expected to strengthen with the weakening of the US dollar index and seasonal effects, but caution is needed before new data is released [2]. - The stock index is expected to continue to fluctuate, with a focus on overseas variables such as US economic data, NVIDIA's Q3 earnings, and Sino - Japanese relations [5]. - Hold medium - term long positions in Treasury bonds, as they may benefit from weakening risk sentiment in the capital market, but short - term fluctuations are expected [5]. Commodities - Precious metals are expected to continue to adjust in the short term due to divergent expectations of a December interest rate cut, but may rise in the long term [13]. - Copper prices lack drivers and are expected to have a technical adjustment; aluminum may experience high - level oscillations; zinc, lead, and tin are expected to oscillate; nickel and stainless steel are at the bottom with limited further decline space; lithium carbonate may be over - inflated and risky for chasing highs; industrial silicon may have wide - range oscillations, and polysilicon may be weaker [17][18][24]. Black Metals - Rebar and hot - rolled coils are expected to oscillate within a range, with support from raw material costs and suppression from inventory [29]. - Iron ore has a supply - strong and demand - weak pattern, and opportunities for shorting at high levels can be considered after the basis is repaired [31]. - Coking coal and coke may face short - term adjustment pressure but have limited downside space in the long term, and can be considered for long positions when the price approaches the lower end of the range [34]. - Ferrosilicon and ferromanganese are expected to oscillate weakly due to high inventory and weak demand [36]. Energy and Chemicals - Crude oil is in an oscillating and pressured state, with short - term attention on the support at $63 and long - term focus on geopolitical risks and macro - funds' hedging trends [38]. - LPG is expected to oscillate strongly; PX - PTA is expected to oscillate strongly with cost; MEG can be considered for selling call options to express a bearish view; methanol 01 may continue to decline; PP's short - term supply - demand situation has improved, and a 1 - 5 positive spread is supported; PE's short - term supply - demand has slightly improved, but the medium - long - term pattern is weak; pure benzene and styrene may have limited rebound height; fuel oil's high - sulfur cracking is bearish, and low - sulfur fuel oil's cracking has upward momentum; asphalt's short - term bottom space is limited, and winter - storage willingness should be noted; glass, soda ash, and caustic soda have their own characteristics in terms of supply, demand, and price trends [39][41][49]. Pulp, Wood, and Related Products - Pulp and offset paper are expected to oscillate with a slightly downward - shifted price center; logs can be considered for a 01 - 03 reverse spread strategy; propylene is expected to oscillate [70][72][75]. Summary by Related Catalogs Financial Futures Macro - Overseas: The US government shutdown has ended, and attention should be paid to economic data and the impact on the economy. Fed personnel changes have attracted market attention, and if Hassett is elected as the Fed chair, it may further open up the space for interest rate cuts. - Domestic: The economy shows a marginal slowdown, and the intensity and effectiveness of policy support are the focus [1]. RMB Exchange Rate - The RMB has strengthened against the US dollar due to the weakening of the US dollar index, the guidance of the central parity rate, and market settlement support. Attention should be paid to US employment data and domestic corporate settlement willingness [2]. Stock Index - The stock index oscillated, with a decline in trading volume. The overall market sentiment was relatively stable, and short - term oscillations are expected, with a focus on overseas variables [5]. Treasury Bonds - Treasury bonds rose slightly, and in the short term, they may continue to oscillate, while in the medium term, they may rise with fundamental support [5]. Commodities Precious Metals - Gold and silver prices continued to adjust due to divergent expectations of a December interest rate cut. Long - term funds' gold ETF holdings decreased, and silver ETF holdings remained stable. Attention should be paid to US economic data and Fed officials' speeches [13]. Copper - Copper prices declined slightly, with an increase in warehouse receipts and a decrease in basis. The supply was relatively stable, and the demand showed some improvement, but the price lacked a clear driver [17]. Aluminum Industry Chain - Aluminum prices declined due to profit - taking by some funds. The supply was expected to be tight overseas, but domestic demand was weak. Alumina was in an oversupply situation, and cast aluminum alloy had certain support [18]. Zinc - Zinc prices oscillated narrowly. The smelting end had a strong demand for ore, and the TC decreased in November. The inventory situation needed to be observed, and the market had large differences between bulls and bears [21]. Nickel and Stainless Steel - Nickel and stainless steel prices were weak, with cost support weakening. The 12 - month interest rate cut expectation was uncertain, and the demand for nickel and stainless steel was weak [22]. Tin - Tin prices oscillated narrowly. The supply was weaker than the demand due to limited resumption of production in Wabang. It was recommended to enter the market on dips [23]. Lithium Carbonate - Lithium carbonate prices rose significantly, but the downstream had no intention to replenish inventory. There was an over - inflation risk, and caution was needed when chasing highs [24]. Industrial Silicon and Polysilicon - Industrial silicon had a weak supply - demand pattern and was expected to oscillate widely. Polysilicon had a weak fundamental situation and was expected to oscillate weakly [25]. Lead - Lead prices were under pressure due to inventory accumulation. The supply was gradually returning to balance, and it was expected to oscillate [27]. Black Metals Rebar and Hot - Rolled Coils - Rebar and hot - rolled coils rebounded slightly, with a marginal improvement in the supply - demand balance of rebar and high inventory pressure on hot - rolled coils. The cost of iron ore was under pressure, and the profit of steel enterprises was declining [29]. Iron Ore - Iron ore prices rebounded significantly, with an increase in shipping volume and a decrease in arrival volume. The supply was strong, the demand was weak, and the inventory was accumulating. It was recommended to short at high levels after the basis was repaired [31]. Coking Coal and Coke - Coking coal and coke prices fell below the key support level. The supply of coking coal was marginally relaxed, and the demand was seasonally weak. However, the price had limited downside space in the long term [34]. Ferrosilicon and Ferromanganese - Ferrosilicon and ferromanganese prices rebounded slightly due to environmental inspections, but the high - inventory situation remained unchanged. The demand was expected to decline, and they were expected to oscillate weakly [36]. Energy and Chemicals Crude Oil - Crude oil prices declined slightly, with a supply - demand imbalance and geopolitical risks. The price was expected to oscillate within a range, and attention should be paid to the support at $63 [38]. LPG - LPG prices rose, with a decrease in supply and an increase in demand. The inventory was decreasing, and it was expected to oscillate strongly [40]. PX - PTA - PX - PTA prices rose, with a strengthening of the aromatics blending logic and an improvement in the supply - demand of PTA. The processing fee was repaired, but the oversupply expectation remained [45]. MEG - Bottle Chips - MEG prices rebounded due to supply - side accidents. The demand was relatively stable, and it was recommended to sell call options to express a bearish view [49]. Methanol - Methanol prices continued to decline, with pressure on the 01 contract due to high supply and limited cost support. It was recommended to hold short positions and consider reverse spreads [51]. PP - PP prices oscillated at the bottom, with an increase in supply and a slight increase in demand. The cost support was strengthening, and a 1 - 5 positive spread was supported [54]. PE - PE prices rebounded slightly, with high supply pressure and limited demand growth. The short - term supply - demand improved slightly, but the medium - long - term pattern was weak [57]. Pure Benzene and Styrene - Pure benzene and styrene prices rebounded at a low level, but the fundamentals did not change significantly, and the rebound height was limited [59]. Fuel Oil - High - sulfur fuel oil cracking was bearish due to weak demand, and low - sulfur fuel oil cracking had upward momentum due to supply reduction expectations [60][63]. Asphalt - Asphalt prices fell, with an increase in supply and a decrease in demand. The inventory structure improved, and the short - term bottom space was limited. Attention should be paid to winter - storage willingness [64]. Glass, Soda Ash, and Caustic Soda - Soda ash prices were limited by high supply and cost support; glass prices were under pressure due to high inventory and weak production and sales; caustic soda prices were affected by high supply and weak downstream replenishment [66][68][69]. Pulp, Wood, and Related Products Pulp and Offset Paper - Pulp prices were slightly affected by macro - sentiment and inventory, with some support from supply - side factors. Offset paper prices continued to decline due to lack of fundamental support [70]. Logs - Log prices were low - volatility, and attention should be paid to the 01 - 03 reverse spread opportunity [72]. Propylene - Propylene prices oscillated, with a supply - demand balance of supply reduction and demand increase. The demand side was affected by PP and other downstream industries, and it was expected to oscillate [75].

gtaxinstitute@essence.com.cn (原油) 隔夜国际油价震荡,布伦特01合约跌0.4%。上周五因乌克兰袭击停运的CPC出口终端和俄罗斯黑海 港口已分别于上周五和上周日恢复,市场供给担忧应声缓解。原油市场四季度及明年一季度供需压 力仍趋放大，中期油价下行风险仍存，短期关注11月21日俄罗斯两油制裁生效后出口的进一步影响 及委内、伊朗风险释放情况。 (责金属) 隔夜贵金属延续调整。近期美联储多位官员发言偏鹰压制降息预期，12月降息概率降至五成以下, 市场等待经济数据继续权衡经济和货币政策前景。贵金属构筑高位震荡平台，耐心等待新驱动以及 技术面的方向性指引。 【铜】 隔夜铜市阴线震荡,市场关注需求强弱,同时美国通胀风险升温。沪铜继续减仓,板块内表现相对 被动。业内关注上海铜年会加工费谈判。周一现铜报86510元，最后交易日上海铜升水105元，广东 升水10元，SMM社库减少7300吨至19.38万吨。刚果（金）卢阿拉巴州铜矿山体滑坡系Mourondo矿 区手工采矿人员聚集导致矿区桥梁坍塌所致。据称该省已紧急暂停省内所有手工采矿活动，关注事 态后续影响。铜市震荡在8.5-8.8万区间,高位空单 ...

广发早知道-汇总版 广发期货研究所 电 话：020-88818009 E-Mail：zhangxiaozhen@gf.com.cn 目录： 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银 集运欧线 商品期货： 有色金属： 铜、氧化铝、铝、铝合金、锌、锡、镍、不锈钢、碳酸锂、工业硅、多 晶硅 黑色金属： 钢材、铁矿石、焦煤、焦炭 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、红枣、苹果 能源化工： PTA、乙二醇、苯乙烯、纯苯、短纤、瓶片、烧碱、PVC、LLDPE、PP、 甲醇、合成橡胶、橡胶、玻璃纯碱 2025 年 11 月 18 日星期二 投资咨询业务资格： 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 周敏波（投资咨询资格：Z0010559） 电话：020-81868743 邮箱：zhoumingbo@gf.com.cn 朱迪（投资咨询资格：Z0015979） 电话：020-88818008 邮箱：zhudi@gf.com.cn 陈尚宇（投资咨询资 ...