Group 1: Energy and Metals Crude Oil - International oil prices rebounded last week, with Brent's December contract rising 7.09%. Short - term crude oil is expected to be volatile and slightly stronger, but the rebound height is limited [1] Precious Metals - Gold and silver continued to fluctuate and adjust. The market maintains the expectation of two more interest rate cuts this year. Precious metals are in a high - level shock phase, and it is recommended to wait and see [2] Copper - Both domestic and foreign copper prices continued to rise. Copper has the potential to hit a record high, but high prices are affecting domestic consumption. It is advisable to trade on dips and be cautious about chasing highs [3] Aluminum - Shanghai aluminum was volatile and slightly stronger on Friday. Although it is breaking through the previous high and showing a strong - side shock, the fundamental driving force is limited, and the upside space should be viewed with caution [4] Cast Aluminum Alloy - The spot price of Baotai ADC12 is 20,700 yuan. It continues to follow the aluminum price and is unlikely to have an independent market for now [5] Alumina - Alumina's operating capacity is at a historical high, and the industry inventory is rising. It is mainly in a weak operation [6] Zinc - LME zinc rebounded to the $3,000 integer mark. The domestic and foreign fundamentals are different, and the short - term rebound height of Shanghai zinc is determined by zinc ingot exports and downstream consumption [7] Lead - The domestic lead market has tight supply. After the lead price rises, downstream purchasing sentiment drops. Further upward movement requires the joint drive of inventory and funds [8] Nickel and Stainless Steel - Shanghai nickel is in a low - level shock. The downstream demand recovery is limited during the peak consumption season, and the overall price of the nickel industry chain may be dragged down [9] Tin - The price of tin fluctuated and declined last Friday night. Pay attention to the supply rhythm after the maintenance and shipment of leading smelters, and wait for the entry opportunity [10] Carbonate Lithium - The lithium price rebounded, and the market trading warmed up. Technically, it is strengthening in the short term, and attention should be paid to the pressure around 80,000 yuan [11] Industrial Silicon - In November, the power price in the southwest production area is rising, and production cuts in Sichuan and Yunnan are highly likely. The short - term spot price is under pressure, and the futures market is expected to remain volatile [12] Polysilicon - The spot price of polysilicon is stable. The market is mainly driven by policy expectations and maintains a volatile trend [13] Iron Ore - The iron ore futures market was volatile last week. Supply is strong, and demand has a downward pressure. The short - term trend is expected to be mainly volatile [15] Coke - The coke price rose during the day. The overall carbon element supply is abundant, and the steel profit is average. The coke price may be prone to rise and difficult to fall [16] Coking Coal - The coking coal price rose during the day. Affected by factors such as political instability in Mongolia and safety inspections, the price may be prone to rise and difficult to fall [17] Manganese Silicon - The price fluctuated downward during the day. The demand is good, and the inventory has slightly decreased. Attention should be paid to the impact of external trade frictions [18] Silicon Iron - The price fluctuated downward during the day. The overall demand is okay, and the inventory is continuously decreasing. Attention should be paid to the impact of external trade frictions [19] Group 2: Building Materials and Chemicals Rebar and Hot - Rolled Coil - Steel prices strengthened on Friday night. Demand is picking up, but the overall domestic demand is still weak. The futures market is expected to continue the rebound trend in the short term [14] Asphalt - BU continued to rise. The supply and demand both decreased this week, and the market is in a tight - balance pattern. The rising cost helps to consolidate the upward trend [21] Liquefied Petroleum Gas - The external price stabilized and rebounded. The fundamentals have improved marginally, and the strengthening of crude oil has boosted LPG [22] Urea - The demand for urea in agriculture has increased, and the supply has decreased slightly. The short - term market is expected to fluctuate strongly within a range [23] Methanol - The port inventory has increased slightly. In the short term, it may fluctuate within a range, and in the long - term, it may be volatile and slightly stronger [24] Pure Benzene - The price of benzene rebounded last week. Supply and demand both decreased. In the medium - term, high imports are the main pressure [25] PVC and Caustic Soda - The inventory accumulation of PVC has slowed down, and it may operate in the bottom - range. Caustic soda may operate at a low level within a range [26] PX and PTA - PX and PTA follow the oil price trend. The terminal situation is improving, but if the oil price weakens, PTA may face inventory accumulation [27] Ethylene Glycol - Domestic production has decreased, but the output has increased. In the short - term, the negative factors in the fundamentals have eased, and in the medium - term, inventory accumulation is expected [28] Short - Fiber and Bottle Chip - Short - fiber may accumulate inventory again. The demand for bottle chips has weakened seasonally, and the long - term pressure is over - capacity [29] Glass - The glass spot price continued to decline. The industry is still accumulating inventory. The decline range is expected to be limited, and attention can be paid to selling out - of - the - money put options [30] 20 - Number Rubber, Natural Rubber, and Butadiene Rubber - The demand is slowly recovering, the supply pressure is large, and the strategy is to rebound from oversold conditions [31] Soda Ash - Soda ash is operating in a low - level range. It is advisable to be cautious when the price is near the cost and prefer to short at high levels after a rebound [32] Group 3: Agricultural Products Soybeans and Soybean Meal - The overall soybean supply in the fourth quarter is not a big problem. If Sino - US trade relations deteriorate, the supply in the first quarter of next year may be tight. It is recommended to wait and see and look for long - entry opportunities [33] Soybean Oil and Palm Oil - In the short - term, be cautious about the callback of palm oil prices and the adjustment risk of the oil - meal ratio. In the long - term, it is advisable to allocate vegetable oils on dips [34] Rapeseed and Rapeseed Oil - The main contract of rapeseed products is expected to fluctuate. It is recommended to pay attention to the cross - competitor strategy with rapeseed products as the short side [35] Domestic Soybeans - The price of domestic soybeans fluctuated. The auction results were good. Pay attention to the impact of the spread between domestic and imported soybeans and policy guidance [36] Corn - Corn futures were weakly volatile on Friday night. The supply is loose, and Dalian corn may continue to operate weakly at the bottom [37] Live Pigs - The spot price of live pigs rebounded over the weekend. Although there is still supply pressure, consumption is expected to improve in the fourth quarter. After the rebound, it is advisable to short on rallies [38] Eggs - Egg futures rebounded. In the short - term, pay attention to risk avoidance, and in the medium - term, there may still be a decline [39] Cotton - US cotton is expected to have weak demand. Domestic cotton futures rebounded. It is recommended to wait and see [40] Sugar - US sugar is oscillating. The international sugar supply is sufficient. The domestic market focuses on the new - season output estimate [41] Apples - Apple futures are strongly operating. The market focuses on the cold - storage inventory. It is recommended to wait and see [42] Wood - Wood futures are oscillating. The supply and demand situation has improved, and it is advisable to maintain a long - biased thinking [43] Pulp - Pulp rebounded last week. The port inventory is relatively high, and the demand is average. It is recommended to wait and see [44] Group 4: Financial Products Stock Index - The stock market rose, and the futures index contracts all closed up. The market style should focus on the technology - growth sector [45] Treasury Bonds - Treasury bond futures oscillated upward. The yield curve steepening is expected to end for now [46]

Core Insights - The article highlights the transformation of the Aksu region in Xinjiang, China, showcasing the development of modern agricultural practices and industries that enhance local economic growth and improve the livelihoods of residents [1] Group 1: Agricultural Development - Aksu, known as "White Water City," has seen the establishment of key agricultural enterprises like the Ailinu'er Agricultural Technology Development Co., which has evolved from a century-old water mill into a national key leading enterprise in agricultural industrialization [2] - The company employs advanced low-temperature, low-pressure, and low-speed processing techniques in its flour production, with high levels of automation in the production process [2] - The introduction of value-added products such as freeze-dried powder and raw pulp from specialty crops has contributed to higher profitability [2] Group 2: Cotton Industry - In Aksu County, modern cotton harvesting machines can efficiently harvest 200 acres of cotton fields daily with just one driver and one worker [6] - The Aksu Lihua Textile Co. has implemented a digitalized production line, enhancing the efficiency of traditional cotton processing through automation and requiring higher skill levels from workers [7] - The company is training employees to use a mobile app for monitoring production metrics, indicating a shift towards more technology-driven operations [7] Group 3: Greenhouse Agriculture - The Green Gobi Facility Agriculture Development Co. has transformed barren land into productive agricultural areas, utilizing innovative sand cultivation methods and government support for infrastructure development [8][10] - The company has diversified its offerings to include a variety of vegetables and tropical fruits, as well as seafood farming, demonstrating adaptability to market demands [10] - The facility has created stable employment for over 160 local residents, contributing to community development [10] Group 4: Camel Farming - The Keping County has shifted from traditional camel farming to a more organized and large-scale model, increasing the camel population to 56,000 and producing 7,500 tons of camel milk annually [13][14] - The camel industry has generated a total industrial chain value of 2 billion yuan, supported by government policies that incentivize infrastructure development and breeding [14] - The cooperative model allows small-scale farmers to benefit from larger enterprises, ensuring better returns and reduced risks in camel farming [14][15]

Core Insights - The demand for "healthy eating" is rising among consumers, shifting from merely "sufficient" and "good" food to a focus on "nutritional balance" and quality [1][3] - The agricultural sector is responding to these new consumer demands by enhancing the quality and freshness of vegetables through technology and innovative practices [3][5] Vegetable Quality Improvement - Consumers are increasingly pursuing high-quality vegetables, with organic labels and traceability codes becoming standard on packaging [1] - In Anhui's He County, farmers are utilizing smart devices to monitor soil and light conditions, implementing preservation technologies to enhance vegetable freshness and adjust harvest timing [3] Growth of Green and Organic Products - Anhui's He County has significantly increased its supply of green and organic products, with a total of 132 certified products as of now [5] - The Ministry of Agriculture and Rural Affairs reported that during the 14th Five-Year Plan, 36,000 new green and organic products were certified, providing over 200 million tons of quality agricultural products annually [7] Whole Grain Food Development - Quinoa is gaining popularity as a key whole grain, with significant harvests in Qinghai's Ulan County, which is a major breeding base for quinoa [8][9] - The average yield of quinoa in Shanxi's Jingle County is expected to exceed 300 kg per mu, with the entire quinoa industry projected to generate over 530 million yuan in annual output value [9] Agricultural Processing Upgrades - The agricultural processing sector is evolving, with innovations such as freeze-dried porridge and various soybean products being developed [11][12] - Heilongjiang's Wudalianchi is a key soybean production area, hosting 20 processing enterprises that leverage the region's high-quality soybean resources [12] Rural Tourism and Agricultural Integration - Rural areas are transforming into experiential destinations, blending agricultural activities with tourism, as seen in Zhejiang and Jiangsu [16][18] - The Ministry of Agriculture has established 240 key leisure agriculture counties, with the leisure agriculture sector generating nearly 900 billion yuan in revenue last year [18]

Core Viewpoint - The recent rebound in soybean meal prices is primarily driven by expectations from the US-China trade talks and strong domestic crushing demand, but the sustainability of this rebound is uncertain due to market sentiment and existing pressures in the domestic market [2][3]. Group 1: Price Movements - Soybean meal futures prices rebounded significantly, closing at 2933 CNY/ton, an increase of approximately 80 CNY/ton from the low point on Wednesday [1]. - As of October 24, the spot price of soybean meal in East China was reported at 2910 CNY/ton, up 40 CNY/ton week-on-week [1]. Group 2: Import and Supply Dynamics - Domestic soybean imports surged to 86.19 million tons in the first three quarters of the year, a 5% increase year-on-year, with a notable 15% increase in imports from May to September [3]. - The total soybean crushing volume in domestic oil mills reached 49.54 million tons from May to September, reflecting a 13% year-on-year increase [3]. - Despite a projected decline in soybean imports in the fourth quarter, the total supply is expected to remain sufficient, with an estimated 32.2 million tons available to meet the average monthly crushing demand of 8.8 million tons [3]. Group 3: Demand Trends - Domestic demand for soybean meal remains robust, driven by high inventory levels in the livestock sector, with average weekly consumption reaching 1.71 million tons, significantly higher than last year's 1.55 million tons [4]. - The current spot price of soybean meal is relatively low compared to previous years, making it an attractive option for feed, which supports continued strong demand [4]. Group 4: Market Challenges - The profitability of crushing Brazilian soybeans has significantly decreased, leading to a slowdown in the pace of domestic purchases, with a notable gap in soybean procurement for future months [5]. - There is a procurement gap of 8 to 9 million tons for imported soybeans from November to January 2026, while the remaining export volume from Brazil is only 5 million tons [5].

Core Insights - The article highlights the transformation of the Aksu region in Xinjiang, China, showcasing advancements in agriculture and livestock industries, leading to economic growth and improved livelihoods for local residents [3][9]. Group 1: Agricultural Innovations - Ailinu'er Agricultural Technology Development Co., Ltd. has evolved from a century-old water mill into a key national agricultural enterprise, focusing on low-temperature, low-pressure, and low-speed processing of flour [4]. - The company produces a variety of specialty foods, including camel milk naan and walnut naan, leveraging unique crops to create high-value products [4]. - The introduction of modern technology in cotton harvesting and processing has significantly increased efficiency, with machines capable of harvesting 200 acres of cotton per day with minimal labor [5][6]. Group 2: Facility Agriculture Development - The Green Gobi Facility Agriculture Development Co., Ltd. has transformed barren land into productive agricultural zones, utilizing innovative sand cultivation techniques supported by local government policies [7][8]. - The company cultivates a variety of crops, including tomatoes and tropical fruits, and has also ventured into seafood farming, responding to market demands [7][8]. - The facility has created stable employment for over 160 local residents, contributing to community development and individual prosperity [8]. Group 3: Livestock Industry Growth - The camel breeding industry in Keping County has shifted from traditional farming to a modern, large-scale operation, increasing the camel population to 56,000 and producing 7,500 tons of camel milk annually [9][10]. - The integration of tourism with camel farming has generated significant revenue, with the entire industry chain valued at 2 billion yuan [9][10]. - Supportive government policies have facilitated the growth of the camel industry, providing financial incentives for farmers and promoting cooperative models for livestock management [10][11].

Group 1 - The 2026 National Civil Service Examination in Guangdong has attracted nearly 330,000 applicants, with a total of 3310 positions available [4][5] - As of the deadline for registration, 289,616 candidates have passed the initial qualification review, while 39,971 are still pending [6] Group 2 - Guangdong Province has released 16 measures to support the high-quality development of the low-altitude economy, aiming to establish itself as a leading hub for this industry [9][10][11] Group 3 - The "Xinjiang Products Southward, Guangdong Products Northward" red date ordering event resulted in contracts for a total of 25,000 tons, marking a significant connection between local red date production and market demand [14][18] Group 4 - At the 138th Canton Fair, 76 quality enterprises from Xinjiang showcased their products, promoting the "Xinjiang Products Southward" initiative and expanding economic ties between Guangdong and Xinjiang [20][23] Group 5 - The 2025 Global High-end Food and Quality Agricultural Products Expo concluded successfully, with over 50 enterprises from Shanwei participating and achieving significant sales [26][28] Group 6 - The second spring sowing grain competition in Longchuan County recognized outstanding contributions, with awards for best yield and contributions to fallow land recovery [32][35][36] Group 7 - Longchuan County has implemented a "Media+" initiative with 12 measures to promote the high-quality development of its camellia oil industry [46][48] Group 8 - Shenzhen-based Yuanju Food Company has gained over 3 million online followers, successfully marketing its frozen food products across multiple provinces and major retail chains [50][52]

本报讯 （记者肖伟）10月25日，湖南湘佳牧业股份有限公司（以下简称"湘佳股份"）旗下湖南湘佳美 食心动智能工厂正式投产运行。湘佳股份董事长喻自文表示，公司的美食心动智能工厂正式投产是湘佳 股份推动农产品加工向标准化、数字化、智能化转型的关键举措，公司将以此次投产为新起点，持续为 消费者提供更加安全、健康、营养、美味、便捷的湘佳美食。 石门县委副书记、县长李长春充分肯定湘佳股份对县域经济发展的带动作用，希望企业以新工厂投产为 契机，进一步构建更具韧性的产业链条和更有竞争力的产业生态。仪式上，湘佳股份与湖南农业大学 就"毕业生就业基地""湘佳黄鸡配套系培育"攻关项目达成合作意向。 （编辑 郭之宸） 湖南湘佳美食心动智能工厂是湘佳股份建设的现代化食品加工标杆项目，位于湖南省常德市石门县。作 为湘佳股份全产业链战略的核心环节，该工厂引入多项尖端技术实现全流程智能化。其中，该工厂配备 自动卤制生产线、全自动炒制生产线、智能化调理品生产线、自动封装灌装生产线及高效全自动货架， 通过编程技术实现自动下料、卤炒、出锅等工序，替代传统人工操作，大幅提升生产效率和产品标准化 程度。该工厂还配套智能冷库和冷链物流系统，通过北斗定 ...

Core Points - The second "Three Qin Souvenirs" consumer evaluation event released a list of 50 selected products during the Yangling Agricultural High-tech Fair, aiming to provide consumers with high-quality, distinctive products and services from Shaanxi province [1] - The first event in September 2023 selected 50 products from over 200 entries, including items like Mizhi millet and Yaozhou kiln ceramics, while the second event saw nearly 200 companies participating and over 190,000 online votes [1] - Selected products are seen as a "golden business card" for Shaanxi's image and a "booster" for enterprise development, with a total of 100 products recognized as representatives of "Shaanxi Good Goods" [1] Group 1 - The "Three Qin Souvenirs" exhibition features 135 products from 42 participating enterprises across 8 categories, including agricultural products, tea, and specialty foods [2] - An online sales section for "Three Qin Souvenirs" has been established on platforms like Taobao and Tmall, along with a dedicated exhibition page on the Cloud Agricultural High-tech Fair platform [2]

Core Insights - The organic black rice industry in Yang County, Shaanxi Province, is thriving, contributing to local farmers' income and rural revitalization [1][2] - The local government is actively supervising the entire black rice production and sales process to ensure compliance and prevent corruption [1][2] Industry Development - Yang County has leveraged its ecological resources to develop black rice cultivation and related industries, focusing on key aspects such as planting, processing, and sales [1] - The black rice industry has become a significant pillar for the local economy, with annual revenue from processing and sales exceeding 1.52 billion yuan [2] Regulatory Oversight - The Yang County Discipline Inspection Commission is addressing issues of non-compliance among officials in the black rice sector, leading to disciplinary actions against those involved in fraudulent activities [1][2] - Specific cases of subsidy fraud have been identified, resulting in penalties and full refunds of misappropriated funds [1]

1. Report Industry Investment Rating No information regarding the report industry investment rating is provided in the content. 2. Core Viewpoints of the Report - In the soybean meal market, South American soybean sowing will fully commence in November, with potential weather - related speculation. Brazilian soybean production is expected to be high, but the export of old - crop soybeans is uncertain. US soybean prices depend on export improvement and the outcome of Sino - US negotiations. Domestic soybean meal supply may decline in November, and inventory may decrease steadily, boosting the basis. The rhythm and quantity of China's US soybean purchases after the Sino - US talks are crucial for the soybean meal market [2][58][133]. - In the oil market, the US soybean oil market is affected by multiple factors such as cost, oil - meal arbitrage, industrial consumption, and bio - diesel policies, remaining range - bound. In November, Southeast Asian palm oil enters the production - reduction cycle, and Malaysia's high palm oil inventory pressure may ease. Indonesia's palm oil inventory remains low, but the B50 bio - diesel policy is still unclear. The domestic oil market faces an oversupply situation, with inventory likely to increase steadily. However, there is a possibility of a stop - falling and rebound in November [3][131][134]. 3. Summary by Relevant Catalogs 3.1 Market Review - In October, CBOT soybeans fluctuated higher, influenced by factors such as the USDA quarterly inventory report, Sino - US trade relations, and the NOPA report. Domestic soybean meal markets fluctuated lower due to reduced supply concerns and weak terminal demand. International oils were range - bound, with US soybean oil showing weakness and Malaysian palm oil being relatively strong [7][8]. 3.2 Protein Meal 3.2.1 Brazilian Soybean Sowing - As of October 16, the 2025/26 Brazilian soybean sowing progress reached 24%, higher than the previous week and last year but lower than two years ago. With increased rainfall, the sowing progress has accelerated significantly. In November, Brazilian soybean sowing will fully start, with potential weather - related speculation in the northeast and south. Brazilian soybean production is expected to be high, and the export of old - crop soybeans is uncertain. If US soybean exports improve, Brazilian soybean premiums may decline [13][18][23]. 3.2.2 US Soybean Demand - The US government shutdown has affected the release of USDA reports. As of October 21, about 39% of US soybean - growing areas were affected by drought. US soybean exports are far lower than last year, and the possibility of a significant reduction in exports is high. Mississippi River transportation bottlenecks and uncertain bio - diesel policies also affect US soybean demand. If the USDA report is released in November, US soybean yield and exports are expected to be adjusted downward, and inventory may increase [24][29][42]. 3.2.3 Domestic Soybean Meal Market - As of October 21, the procurement of imported soybeans for different shipping dates showed different progress, with relatively limited procurement in December and January. Domestic soybean inventory is currently abundant but may start to decline in December. Domestic oil mills' operating rates may remain high in November but may decline compared to the previous period. Domestic soybean meal demand has increased slightly in 2025, but the decline in pig prices may affect demand. Domestic soybean meal inventory may decline steadily in November, and the basis may stop falling and rise slightly. The rhythm and quantity of China's US soybean purchases are crucial for the domestic soybean meal market [44][49][58]. 3.3 Oils 3.3.1 US Soybean Oil - Since mid - October, US soybean oil has declined from its high due to the unwinding of oil - meal arbitrage. In November, the oil - meal ratio may decline. The US biodiesel policy has not been finalized, and the market's demand expectations for US soybean oil have decreased. In November, US soybean oil will be affected by multiple factors and will continue to fluctuate within a range [60][62][67]. 3.3.2 Malaysian Palm Oil - The Malaysian palm oil production reduction cycle will start in November. In October, production increased, but exports faced resistance. Indonesia's B50 bio - diesel policy is still uncertain, which will affect the Malaysian palm oil market. Malaysian palm oil inventory may start to decline in November, and there is a possibility of a stop - falling and rebound [74][82][91]. 3.3.3 Domestic Oil Market - In November, domestic oil demand is expected to decline steadily due to the delayed Spring Festival. Supply may decrease after November but still exceeds demand, and inventory may continue to increase. Domestic soybean oil inventory is high, and the de - stocking process is slow. Palm oil inventory may increase, and the basis may be under pressure. Rapeseed oil supply may increase in November but is subject to policy risks. The current inverted spread between soybean oil and palm oil may continue, and the oil - meal ratio may be adjusted in the short term [94][99][131]. 3.4 Conclusion and Operational Suggestions - For soybean meal, maintain an interval - oscillation mindset, focusing on low - buying and high - selling. For oils, try to buy at the lower limit of the range or buy on dips after the market stabilizes in November [135].