Group 1 - China is significantly increasing its investment in Brazil, with a projected growth of over 100% in 2024 compared to the previous year, focusing on sectors such as energy, mining, and infrastructure [1] - Brazil is becoming the preferred destination for Chinese capital among emerging economies, ranking third globally after the UK and Hungary [1] - BYD has established its largest electric vehicle factory outside Asia in Brazil, with an investment of 5.5 billion reais (approximately 1.02 billion USD), aiming to produce 150,000 vehicles annually, potentially increasing to 300,000 [3] Group 2 - Brazil is emerging as a key food supplier for China, particularly in soybeans and beef, with Chinese agricultural companies expanding production and infrastructure in Brazil [3] - COFCO International, a subsidiary of China's state-owned food processing company, has acquired 979 railway cars and 23 locomotives to enhance rail capacity [3] - The digital economy is becoming a new engine for China-Brazil cooperation, with Huawei continuing to provide 5G commercial services in Brazil and focusing on smart agriculture applications [5] Group 3 - The cooperation between China and Brazil has evolved beyond soybean trade, integrating the entire industry chain from production to transportation [5] - The implementation of digital technologies signifies a transition to a more efficient and intelligent phase of agricultural collaboration between China and Brazil [5]

Core Viewpoint - The Guangdong delegation showcased a variety of agricultural products at the 2025 Smart Agriculture Expo and the Guangxi International Agricultural Expo, emphasizing collaboration between Guangdong and Guangxi to enhance agricultural development and innovation [2][5][78]. Group 1: Event Overview - The 2025 Smart Agriculture Expo and Guangxi International Agricultural Expo took place from November 6 to 8 at the Nanning International Convention and Exhibition Center [2][3]. - The Guangdong delegation featured products from various sectors, including smart agriculture, fruits, tea, traditional medicine, livestock, and leisure foods [3][5]. Group 2: Featured Products - The delegation highlighted the "Zhonglong Lychee," which has an annual sales revenue exceeding 100 million yuan, with a planting area of 43,000 acres and an average annual output of about 8,000 tons [16][20]. - Guangdong's participation included a range of products such as Ma Gong goose, a renowned local delicacy, and various processed products like "Zhouxing" brand water chestnut powder and cakes, which hold over 70% market share nationally [26][28]. Group 3: Agricultural Innovation - Guangdong's smart agriculture technology was showcased through various equipment, including agricultural sensors and weather stations, aimed at enhancing agricultural efficiency and safety [60][62]. - Guangzhou Zeli Medical Technology Co., Ltd. presented its low-temperature extraction technology for functional foods, demonstrating Guangdong's technological capabilities in natural plant extraction [66][68]. Group 4: Collaborative Efforts - The event illustrated the shift from a "one-way assistance" model to a "mutual win" approach in the Guangdong-Guangxi collaboration, with numerous Guangxi enterprises participating [77][80]. - The collaboration has led to the identification of new growth points in various industries, including new energy and specialty agricultural products, enhancing the economic ties between the two regions [84][86].

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The US corn is expected to remain in a narrow - range oscillation. The spot price of domestic corn still has room to decline, and the 01 corn contract is likely to continue to fall. The corn starch spot price is expected to decline later, and the 01 starch contract on the short - term disk is expected to oscillate at the bottom [7][5][6] Summary by Directory First Part: Data - **Futures Market Data**: The closing prices of different corn and corn starch futures contracts showed varying degrees of increase, with the increase ranging from 0.35% to 0.93%. The trading volume also had significant growth, with the increase rate ranging from 44.48% to 89.04%. The changes in the open interest were relatively small, with an increase or decrease range of - 1.33% to 6.00% [1] - **Spot Market Data**: The spot prices of corn in different regions such as Qinggang, Songyuan Jiji, and Zhucheng Xingmao were provided, along with their price changes. The spot prices of starch from different manufacturers like Longfeng, COFCO, and Cargill were also given, with no price changes on that day [1] - **Basis and Spread Data**: The basis of corn and corn starch, as well as the spreads between different futures contracts (including corn inter - period spreads, starch inter - period spreads, and cross - variety spreads) and their price changes were presented [1][4] Second Part: Market Judgment - **Corn**: The US corn rebounded due to the easing of Sino - US relations, but the production remained high, resulting in a narrow - range oscillation. The import profit of foreign corn decreased. The spot price of corn in the Northeast was stable, while the supply in North China increased, causing the spot price to decline. The domestic breeding demand was stable, but the downstream feed enterprises had low inventory. The 01 corn contract showed a strong oscillation, and the spot basis weakened. The spot price of corn still had room to decline in the short term [3][5] - **Starch**: The number of trucks arriving at Shandong deep - processing plants increased, and the spot price of corn in Shandong was stable. The starch inventory increased this week, with a monthly increase of 0.89% and a year - on - year increase of 33.26%. The starch price was mainly affected by the corn price and downstream stocking. The by - product price was strong, and the enterprise profit was good. The 01 starch contract followed the corn to oscillate strongly, and it was expected to oscillate at the bottom in the short term [6] - **Trading Strategy**: The US corn is expected to continue to narrow - range oscillate. The spot price of North China corn is relatively stable, while the Jilin corn is being listed in large quantities, putting pressure on the spot price. It is recommended to short the 05 and 01 corn contracts on a short - term basis and try to narrow the spread between the 01 corn and starch contracts when the spread is high [7][8] Third Part: Corn Options - The option strategy is a short - term strategy of accumulating puts and calls, with rolling operations [10] Fourth Part: Related Attachments - The attachments include various graphs showing the spot prices of corn in different regions, the basis of corn 01 contract, the spreads between different corn and corn starch contracts, and the basis and spreads of the corn starch 01 contract [12][14][18]

Overall Situation - Zhaoqing City Market Supervision Administration conducted a supervision sampling of 267 batches of food across 14 categories, including edible agricultural products, catering food, tea and related products, alcoholic beverages, grain products, meat products, edible oils, beverages, aquatic products, vegetable products, soybean products, food additives, bee products, and special dietary foods [2]. - Out of the 267 batches, 252 were qualified, while 15 were found to be unqualified, indicating a qualification rate of approximately 94.4% [2]. Breakdown of Unqualified Products - Among the 172 batches of edible agricultural products, 9 were unqualified [2]. - For 14 batches of catering food, 3 were unqualified [2]. - In the tea and related products category, all 22 batches were qualified [2]. - The alcoholic beverages category had 3 batches, all of which were qualified [2]. - Grain products had 3 batches, all qualified [2]. - Meat products included 10 batches, with no unqualified samples [2]. - Edible oils and related products had 5 batches, all qualified [2]. - The beverage category had 2 batches, both qualified [2]. - Aquatic products included 11 batches, with no unqualified samples [2]. - Vegetable products had 8 batches, with 3 unqualified [2]. - Food additives had 3 batches, all qualified [2]. - Soybean products included 7 batches, all qualified [2]. - Bee products had 3 batches, all qualified [2]. - Special dietary foods included 5 batches, all qualified [2]. Handling of Unqualified Products - Zhaoqing City Market Supervision Administration has mandated relevant local market supervision departments to investigate and handle unqualified food products and their producers promptly [4]. - Companies are required to trace the distribution of unqualified products, recall them, and analyze the reasons for non-compliance to implement corrective actions [4]. - Businesses must take immediate measures such as removing unqualified food from shelves to control risks and face legal consequences [4].

Core Insights - The agricultural processing sector experienced a slight decline of 0.05% on November 6, with Yichang Mohu leading the losses [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Agricultural Processing Sector Performance - Notable gainers in the agricultural processing sector included: - Sanxiang Economy (600191) with a closing price of 9.74, up 2.20% and a trading volume of 211,200 shares, totaling 206 million yuan [1] - Xihua Co., Ltd. (603182) closed at 15.78, up 1.94% with a trading volume of 25,500 shares, totaling 40.03 million yuan [1] - Shuangta Food (002481) closed at 5.87, up 1.21% with a trading volume of 385,700 shares, totaling 227 million yuan [1] - Conversely, the sector saw declines in: - Yichang Mohu (920273) with a closing price of 36.36, down 2.26% and a trading volume of 20,400 shares, totaling 74.73 million yuan [2] - Oufu Egg Industry (920371) closed at 11.31, down 2.16% with a trading volume of 19,200 shares, totaling 21.84 million yuan [2] - ST Jiawo (300268) closed at 11.05, down 2.04% with a trading volume of 15,800 shares, totaling 17.64 million yuan [2] Capital Flow Analysis - The agricultural processing sector saw a net outflow of 148 million yuan from institutional investors, while retail investors contributed a net inflow of 104 million yuan [2][3] - Key individual stock capital flows included: - Morning Biological (300138) with a net inflow of 11.73 million yuan from institutional investors, but a net outflow of 18.99 million yuan from retail investors [3] - Andeli (605198) had a net inflow of 6.18 million yuan from institutional investors, but also saw a net outflow from retail investors [3] - ST Jiawo (300268) experienced a significant net outflow of 3.64 million yuan from institutional investors, while retail investors had a net inflow of 3.13 million yuan [3]

11月5日国内主流油厂豆粕成交再度回暖，成交量为174000吨，较上日增加99000吨。现货成交量为 154000吨，较上日增加122000吨。基差成交量为20000吨，较上日减少23000吨。成交均价为3089.36元 吨，较上日上涨14.86元/吨，创近2个半月新高。 国都期货：出口前景得以改善，近期外盘CBOT大豆偏强运行，有望重回种植成本（1200美分/蒲附近） 之上。国内方面，今年5月份起大豆进口月到港量均超历史同期，目前国内进口大豆库存处于偏高水 平，若四季度重启采购美豆，供应预计维持宽松。但此前盘面已部分消化进口美豆利空，叠加外盘走强 将抬升进口成本，连粕下方空间有限，或随外盘震荡偏强。11月份南美大豆开始进入生长关键期，重点 关注巴西是否因弱拉尼娜出现天气炒作机会。 阿根廷农牧渔业国秘处公布的数据显示，2025年11月5日阿根廷港口大豆FOB报价为每吨437美元；豆粕 报每吨352美元。 11月6日，豆粕期货主力合约小幅收涨0.95%，报3068.00元/吨。 据外媒调查的预期值，截至2025年10月30日当周，预计美国2025/26市场年度大豆出口净销售为40-200 万吨；预计美国2025 ...

农产品日报 | 2025-11-06 油厂开机率下滑，豆粕偏强震荡 粕类观点 市场要闻与重要数据 政策变化 玉米观点 期货方面，昨日收盘豆粕2601合约3073元/吨，较前日变动+58元/吨，幅度+1.92%；菜粕2601合约2537元/吨，较前 日变动+40元/吨，幅度+1.60%。现货方面，天津地区豆粕现货价格3070元/吨，较前日变动+10元/吨，现货基差M01-3， 较前日变动-48；江苏地区豆粕现货3010元/吨，较前日变动+40元/吨，现货基差M01-63，较前日变动-18；广东地 区豆粕现货价格3020元/吨，较前日变动跌+40元/吨，现货基差M01-53，较前日变动-18。福建地区菜粕现货价格2720 元/吨，较前日变动+30元/吨，现货基差RM01+183，较前日变动-10。 近期市场资讯，11月3日，商品经纪公司StoneX称，就2025/26年度大豆作物而言，11月产量预估较10月的估值上调 了0.1%，预计将达到1.789亿吨。11月4日，巴拉那州农村经济部发布的数据显示，本周巴拉那州2025/26年度大豆 种植面积已达预计面积的79%，较上周上升8个百分点。去年同期大豆种植率为85% ...

1. Report Industry Investment Ratings The report does not provide industry investment ratings. 2. Core Views of the Report - The A - share market showed resilience despite external shocks. The stock index futures market is expected to remain in a high - level shock in the short term, while the bond market has limited upward space. - In the agricultural products market, the prices of different varieties vary. For example, the price of soybean meal is affected by trade relations and supply - demand, and the international sugar price is in a downward trend. - The black metal market is in a state of shock. Steel prices are in a range - bound state, and the double - coke market is expected to be strong after a callback. - The non - ferrous metal market has different trends for each variety. Precious metals are in a range - bound arrangement, and the prices of some metals are affected by factors such as supply - demand and cost. - The energy and chemical market also shows different trends. For example, the price of crude oil has support, while the price of asphalt is under pressure. 3. Summary by Relevant Catalogs Financial Derivatives - **Stock Index Futures**: The market was affected by the overnight decline of US stocks but quickly rebounded. The short - term market will maintain a high - level shock. It is recommended to buy at low levels near 3930 points of the Shanghai Composite Index and reduce positions at high levels above 4000 points. Also, consider IM\IC long 2512 + short ETF cash - and - carry arbitrage and bull spread options at low levels [18][19]. - **Treasury Futures**: The treasury futures closed mostly lower on Wednesday. It is recommended to take appropriate profit - taking. In the future, short - term long positions can be tried on the TL contract, and pay attention to short - term spread and term spread arbitrage opportunities [22][23]. Agricultural Products - **Soybean Meal**: Trade relations are beneficial to US soybeans, but the international soybean supply is abundant. The price of domestic soybean meal is supported in the near - term but under pressure in the long - term. It is recommended to short the far - month contracts [25][26]. - **Sugar**: The international sugar price is in a downward trend due to increased production in major producing areas. The domestic sugar price is expected to be in a range - bound state. It is recommended to operate in the range and short the international sugar while going long on Zhengzhou sugar [29][30][31]. - **Oilseeds and Oils**: The palm oil inventory in Malaysia is expected to gradually decrease after accumulating in October, and the domestic palm oil inventory is increasing. It is recommended to wait for the market to stabilize and then consider going long at low levels [33][34][35]. - **Corn/Corn Starch**: The US corn is expected to be in a narrow - range shock. The domestic corn price has a short - term decline space. It is recommended to go long on the 12 - month US corn on dips, wait and see for the 01 - month contract, and wait for a callback for the 05 and 07 - month contracts [37][38]. - **Pigs**: The pressure of pig slaughter continues, and the price remains low. It is recommended to short a small amount [39][40][41]. - **Peanuts**: The peanut spot price is rebounding, and the 01 - month contract is in a short - term bottom shock. It is recommended to go long lightly on the 01 and 05 - month contracts [42][43][44]. - **Eggs**: The number of culled chickens has increased, and the egg price has stabilized. It is recommended to close out previous short positions and wait and see [45][46][47]. - **Apples**: The market is expected to fluctuate greatly with the release of warehousing data. It is recommended to wait and see [50][51][52]. - **Cotton - Cotton Yarn**: The cotton harvest is at its peak. The supply is expected to increase, and the demand is in the off - season. The price is expected to be slightly stronger in a shock. It is recommended to wait and see [55][56][57]. Black Metals - **Steel**: The iron - making output is shrinking, and the steel price is in a range - bound state. It is recommended to go long on dips and continue to hold the long position of the coil - screw spread [60][61]. - **Double - Coke**: The market is in a high - level shock. It is recommended to wait for a callback and then go long [62][63][64]. - **Iron Ore**: It is recommended to take a bearish view. The price is expected to be in a high - level bearish operation [65][66]. - **Ferroalloys**: The valuation is at a low level, and previous short positions can be reduced. It is recommended to sell out - of - the - money straddle option combinations [68]. Non - Ferrous Metals - **Precious Metals**: Multiple factors are intertwined, and the precious metals market is in a range - bound arrangement. It is recommended to operate in a band [71][72][74]. - **Copper**: The downstream purchasing sentiment has improved. It is recommended to wait and see and continue to hold the inter - market cash - and - carry arbitrage [75][76][77]. - **Alumina**: The supply - side production reduction has not been implemented, and the price is in a bottom - grinding state. It is recommended to wait and see [78][80][81]. - **Electrolytic Aluminum**: The demand is resilient, and the price is expected to rise on dips. It is recommended to go long on dips and consider long Shanghai aluminum and short LME aluminum arbitrage [82][84][85]. - **Cast Aluminum Alloy**: The seasonal peak season is coming, and the price is expected to rise on dips. It is recommended to go long on dips [86][87][89]. - **Zinc**: It is recommended to wait and see. The price is expected to be strong in the short - term, and previous long positions can take partial profit [90][91][92]. - **Lead**: It is recommended to hold short positions. The price may have a downward space. Be vigilant about the impact of funds on the price [94][95]. - **Nickel**: The supply - demand is loose, the cost support is weakening, and the price is expected to decline in a shock [96].

Report Industry Investment Ratings No specific industry investment ratings are provided in the report. Core Views - The medium - term downward risk of oil prices remains due to supply - demand surplus pressure and the uncertain impact of geopolitical factors [2]. - Precious metals are in a high - level shock platform and should be temporarily observed due to the uncertainty of the US economy and Fed policies [3]. - For most commodities, the market is affected by factors such as supply - demand balance, policy changes, and seasonal factors, showing different trends of shock, strength, or weakness [2 - 50]. Summary by Commodity Categories Energy - **Crude Oil**: After the unexpected increase in API and EIA crude oil inventories, the medium - term downward risk of oil prices exists. Geopolitical factors have an uncertain impact on supply [2]. - **Fuel Oil & Low - Sulfur Fuel Oil**: Low - sulfur fuel oil has limited upward momentum due to sufficient supply, while high - sulfur fuel oil's medium - term supply tends to be loose. The crack spread between high - and low - sulfur fuel oils is expected to widen [22]. - **Liquefied Petroleum Gas (LPG)**: With improved chemical profits and increased combustion demand, but weak international oil prices, the LPG main contract is expected to oscillate [24]. - **Bitumen**: With the decline of construction in the north, the fundamentals show multiple negative signals, and the market is under pressure [23]. Metals - **Precious Metals**: Precious metals are in a high - level shock platform, and it's advisable to wait and see due to the uncertainty of the US economy and Fed policies [3]. - **Base Metals**: - **Copper**: After hitting a record high, it needs new negative supply themes or strong demand signals. It's recommended to wait and see [4]. - **Aluminum**: The short - term trend is oscillating and slightly stronger, but the upward space is limited [5]. - **Zinc**: Supported by winter storage and refinery复产 expectations, it's expected to oscillate between 22,000 - 23,000 yuan/ton, and short - term long positions on dips are recommended [8]. - **Nickel**: Weakly operating with a downward - shifting center of gravity due to weak downstream demand [10]. - **Tin**: After a short - term sharp decline, it's close to the October low, and short - selling is suspended to wait for changes in social inventory [11]. - **Lead**: Oscillating between 17,300 - 17,500 yuan/ton due to the conflict between supply - demand fundamentals and market sentiment [9]. - **Manganese Silicon and Silicon Iron**: Both are expected to have narrow - range oscillations, with relatively stable supply and demand [19][20]. - **Coke and Coking Coal**: Both are oscillating strongly. Although downstream demand provides some support, steel mills' low profit levels lead to price - pressing sentiment. Attention should be paid to safety production assessment information [17][18]. - **Alumina**: With a surplus supply pattern, it's weakly operating with limited rebound space [7]. - **Cast Aluminum Alloy**: It follows the price of aluminum and has no independent market for the time being [6]. Chemicals - **Urea**: The market is oscillating strongly, with increasing production and some support from agricultural demand, but the supply - demand surplus situation persists, and the market is expected to oscillate within a range [25]. - **Methanol**: With high port inventory, high import supply, and weak downstream demand, the market is under pressure, and it's necessary to wait for supply reduction and demand improvement [26]. - **Pure Benzene**: It's oscillating at a low level. There are medium - term negatives of high imports and falling demand, and it's advisable to focus on the inventory accumulation rhythm [27]. - **Styrene**: New production capacity is increasing, and the price is expected to continue to be weak [28]. - **Polypropylene, Plastic, and Propylene**: The supply is relatively loose, downstream demand is weak, and the market performance is average [29]. - **PVC and Caustic Soda**: PVC is operating at a low level due to high supply and low demand, while caustic soda is expected to continue to decline due to high inventory and weak demand [30]. - **PX and PTA**: Supply is increasing, and there is a risk of inventory accumulation. The anti - arbitrage strategy is continued, and attention should be paid to oil price fluctuations [31]. - **Ethylene Glycol**: Supply is increasing, and there is an expectation of inventory accumulation. The anti - arbitrage strategy is adopted, and attention should be paid to the possibility of plant shutdowns [32]. - **Short - Fiber and Bottle - Chip**: Short - fiber is expected to accumulate inventory in the future, and bottle - chip is under pressure due to weak demand and over - capacity [33]. Building Materials - **Glass**: After the production line shutdown in Shahe, the inventory is expected to decline. With rising costs, the downward space is limited, and short - selling options can be held [34]. - **20 - Rubber, Natural Rubber, and Butadiene Rubber**: The supply pressure is easing, demand is slowly recovering, but inventory is increasing, and the market sentiment is pessimistic. It's advisable to wait and see and focus on cross - variety arbitrage opportunities [35]. - **Soda Ash**: It's oscillating. With increasing supply and high inventory, and reduced demand from float glass, it's under pressure, and attention should be paid to the strategy of going long on glass and short on soda ash [36]. Agricultural Products - **Soybean and Soybean Meal**: Affected by the tariff adjustment, the price of soybean meal may rise. Attention should be paid to the opportunity of going long on dips after the Sino - US trade eases [37]. - **Soybean Oil and Palm Oil**: The contradiction between soybean and palm oil is differentiated. It's expected that soybean meal will be stronger than oil, and there is a risk of oil price decline [38]. - **Rapeseed and Rapeseed Oil**: It's recommended to be bullish on rapeseed meal and bearish on rapeseed oil in the short term, with the risk of changes in trade relations [39]. - **Soybean No.1**: Driven by the rise of US soybeans, the price is strengthening, and attention should be paid to market sentiment and policy changes [40]. - **Corn**: The supply is abundant, and the price is expected to continue to be weak at the bottom. Attention should be paid to the Sino - US economic and trade agreement [41]. - **Hog**: The futures price rebounds, but the spot price continues to fall. There is a high probability of a second bottom - probing in the first half of next year [42]. - **Egg**: The futures price is strong, and it's advisable to wait for the opportunity to go short in the fourth quarter [43]. - **Cotton**: The short - term trend is oscillating, and it's advisable to wait and see. Attention should be paid to the impact of Sino - US negotiations on trade [44]. - **Sugar**: The international market supply is sufficient, and the domestic market focuses on the new - season output estimate. Attention should be paid to weather and crop growth [45]. - **Apple**: The market is trading the inventory pressure in advance, and a bearish strategy is maintained [46]. - **Timber**: With low inventory providing support, it's advisable to wait and see [47]. - **Pulp**: The supply is relatively loose, demand is average, and it's advisable to wait and see or conduct short - term operations [48]. Financial Products - **Stock Index**: The market is expected to oscillate in the short term. It's advisable to maintain a balanced layout and focus on technological innovation, industrial upgrading, and also consider cyclical and consumer sectors [49]. - **Treasury Bond**: The futures are oscillating, and the steepening of the yield curve is expected to end [50].

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Core View of the Report The report presents the daily arbitrage data of various futures varieties on November 6, 2025, including basis, inter - period spreads, and inter - commodity spreads for different sectors such as power coal, energy and chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures. 3. Summary by Related Catalogs 3.1 Power Coal - Basis data for power coal from October 30 to November 5, 2025, shows changes in the basis value, with values ranging from - 31.4 to - 24 on different dates [1][2] 3.2 Energy and Chemicals 3.2.1 Energy Commodities - Basis data for fuel oil, INE crude oil, and crude oil/asphalt from October 30 to November 5, 2025, shows fluctuations in basis values and ratios [7] 3.2.2 Chemical Commodities - Basis data for rubber, methanol, PTA, LLDPE, V, and PP from October 30 to November 5, 2025, shows different basis values on each date [9] - Inter - period spreads for rubber, methanol, PTA, LLDPE, PVC, PP, and ethylene glycol are presented, including 5 - 1 month, 9 - 1 month, and 9 - 5 month spreads [10] - Inter - commodity spreads for LLDPE - PVC, LLDPE - PP, PP - PVC, and PP - 3*methanol from October 30 to November 5, 2025, show changes in the spreads [10] 3.3 Black Metals - Basis data for rebar, iron ore, coke, and coking coal from October 30 to November 5, 2025, shows different basis values on each date [20] - Inter - period spreads for rebar, iron ore, coke, and coking coal are presented, including 5 - 1 month, 9(10) - 1 month, and 9(10) - 5 month spreads [19] - Inter - commodity spreads for rebar/iron ore, rebar/coke, coke/coking coal, and rebar - hot rolled coil from October 30 to November 5, 2025, show changes in the spreads [19] 3.4 Non - Ferrous Metals 3.4.1 Domestic Market - Domestic basis data for copper, aluminum, zinc, lead, nickel, and tin from October 30 to November 5, 2025, shows different basis values on each date [28] 3.4.2 London Market - LME spreads, Shanghai - London ratios, CIF prices, domestic spot prices, and import profit/loss for copper, aluminum, zinc, lead, nickel, and tin on November 5, 2025, are presented [33] 3.5 Agricultural Products - Basis data for soybeans No.1, soybeans No.2, soybean meal, soybean oil, and corn from October 30 to November 5, 2025, shows different basis values on each date [38] - Inter - period spreads for soybeans No.1, soybeans No.2, soybean meal, soybean oil, rapeseed meal, rapeseed oil, palm oil, corn, sugar, and cotton are presented, including 5 - 1 month, 9 - 1 month, and 9 - 5 month spreads [38] 3.6 Stock Index Futures - Basis data for CSI 300, SSE 50, CSI 500, and CSI 1000 from October 30 to November 5, 2025, shows different basis values on each date [49] - Inter - period spreads for CSI 300, SSE 50, CSI 500, and CSI 1000, including next - month - current - month and next - quarter - current - quarter spreads, are presented [51]