Core Insights - The "Follow the Min-Ning Girl to Pick Fresh Goods" creative live-streaming event successfully connected high-quality agricultural products from Ningxia with the national market, achieving both social and economic benefits [1][4] Group 1: Event Overview - The event was hosted by well-known agricultural influencer @MinNingGirl Benny, focusing on local specialties such as Eight Treasure Tea, goji berries, dairy products, and various food ingredients [3] - The live-stream attracted a peak viewership of over 2,000 people and facilitated online and offline sales exceeding 2 million yuan during the event [3] Group 2: Marketing Strategy - Unlike traditional sales methods, the live-stream included detailed product introductions and showcased the production processes, enhancing consumer understanding of the quality and appeal of Ningxia's agricultural products [3] - The host shared e-commerce sales techniques, providing valuable learning opportunities for local farmers and e-commerce practitioners [3] Group 3: E-commerce Development - The Yinchuan Municipal Bureau of Commerce has been actively promoting e-commerce to assist farmers, enhancing skills through various training programs and nurturing local influencers like @MinNingGirl Benny [3] - A comprehensive rural e-commerce service system has been established, including five county-level service centers and 163 village-level service stations, supporting online sales of agricultural products [3] Group 4: Future Plans - The Yinchuan Municipal Bureau of Commerce plans to continue its "Digital Commerce Promotes Agriculture" initiative, organizing more e-commerce assistance activities and deepening collaborations with e-commerce platforms and enterprises [4]

证券之星消息，10月22日农产品加工板块较上一交易日上涨0.02%，双塔食品领涨。当日上证指数报收 于3913.76，下跌0.07%。深证成指报收于12996.61，下跌0.62%。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) | | --- | --- | --- | --- | --- | --- | | 002481 | 双塔食品 | 6.39 | 9.98% | 49.16万 | 3.11亿 | | 603231 | 索宝蛋白 | 20.16 | 6.33% | 18.91万 | 3.86亿 | | 000911 | 广农糖业 | 7.81 | 3.86% | 29.83万 | 2.35亿 | | 003030 | 祖名股份 | 19.70 | 2.18% | 1 2.89万 | 5709.11万 | | 605198 | 安德利 | 47.00 | 2.06% | 1.45万 | 6731.72万 | | 603182 | 喜卖股份 | 14.56 | 0.83% | 4.56万 | 6671.11万 | | 920371 | 欧福蛋 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Overseas, the Russia-Ukraine peace talks have hit a snag, and European countries advocate an "immediate ceasefire" at the current front line. The US government shutdown has led to a lack of economic data, and the market is digesting the situation. Domestically, A-shares have risen, but the trading volume is still low. In the short term, the stock market is expected to be volatile and weak, while in the long term, it is cost-effective to buy on dips. The bond market has also recovered [2]. - The silver squeeze has ended, and the Sino-US economic and trade relations are showing signs of easing. The precious metal prices are entering an adjustment phase, and the adjustment slope may be steeper, especially for silver [3][4]. - The copper price has slightly declined due to the rebound of the US dollar index and the weakening of market risk aversion. The supply of copper is increasing, while the demand is mainly for rigid replenishment. The copper price is expected to remain volatile in the short term [6][7]. - The aluminum price is oscillating. The macro - sentiment is stable, and the supply - demand situation is favorable. The aluminum price is expected to maintain a high - level oscillation [8]. - The alumina price is weakly oscillating. The winter procurement by aluminum plants in the northwest is putting downward pressure on the price. The theoretical loss of northern alumina production capacity is expanding, and the price is expected to have limited further downside [9]. - The zinc market shows an external - strong and internal - weak pattern. The domestic supply is increasing, while the demand is weak. The LME has a low - inventory and strong - structure. The zinc price is expected to stabilize and oscillate narrowly in the short term [10]. - The lead price is oscillating narrowly. The supply in the domestic market is regionally tight, but the import window has opened, and the supply pressure is expected to increase gradually, causing the lead price to decline [11]. - The tin price is oscillating narrowly. The supply improvement of tin ore is limited, and the downstream procurement is cautious. The tin price is expected to maintain a high - level narrow - range oscillation in the short term [12]. - The industrial silicon price is oscillating narrowly. The supply is stable, and the demand is mixed. The social inventory has increased, and the price is expected to continue to oscillate at a low level in the short term [14][15]. - The lithium carbonate price is oscillating. The supply increase is limited, and the demand is improving marginally. The lithium price may adjust in the short term after the first upward rush is blocked [16][17]. - The nickel price is oscillating. The inventory is increasing, but the price is at the lower end of the range with cost support. The nickel price is expected to oscillate strongly in the short term [18][19]. - The price difference between soda ash and glass is expected to widen. The soda ash fundamentals are slightly better than those of glass, and both are facing inventory accumulation pressure [20]. - The steel price is under pressure. The terminal demand is weak, and the supply pressure is increasing. The steel price is expected to oscillate under pressure [21]. - The iron ore price is oscillating weakly. The port inventory has increased, and the demand is weakening. The iron ore price is expected to adjust in an oscillating manner [22][23]. - The soybean meal price is weakly oscillating. The Brazilian rainy season is expected to return in November, and the domestic supply is sufficient. The soybean meal price is expected to maintain a weak oscillation in the short term [24]. - The palm oil price is oscillating widely. The production and demand of palm oil in Malaysia are increasing slightly, and the market driving force is limited. The palm oil price is expected to oscillate widely in the short term [25][26]. 3. Summary by Relevant Catalogs 3.1 Macro - Overseas, the Russia - Ukraine peace talks are complicated. The US government shutdown has affected economic data. The market is waiting for the CPI data on the 24th and the APEC Sino - US summit at the end of the month. Domestically, A - shares have risen, the bond market has recovered, and the short - term stock market is expected to be volatile and weak [2]. 3.2 Precious Metals - The silver squeeze has ended, and the Sino - US economic and trade relations are easing. The precious metal prices have fallen sharply, and the adjustment slope may be steeper, especially for silver [3][4]. 3.3 Copper - The copper price has slightly declined. The market risk aversion has weakened, and the supply is increasing. The copper price is expected to remain volatile in the short term [6][7]. 3.4 Aluminum - The aluminum price is oscillating. The macro - sentiment is stable, the supply - demand situation is favorable, and the aluminum price is expected to maintain a high - level oscillation [8]. 3.5 Alumina - The alumina price is weakly oscillating. The winter procurement by aluminum plants in the northwest is putting downward pressure on the price. The theoretical loss of northern alumina production capacity is expanding, and the price is expected to have limited further downside [9]. 3.6 Zinc - The zinc market shows an external - strong and internal - weak pattern. The domestic supply is increasing, while the demand is weak. The LME has a low - inventory and strong - structure. The zinc price is expected to stabilize and oscillate narrowly in the short term [10]. 3.7 Lead - The lead price is oscillating narrowly. The supply in the domestic market is regionally tight, but the import window has opened, and the supply pressure is expected to increase gradually, causing the lead price to decline [11]. 3.8 Tin - The tin price is oscillating narrowly. The supply improvement of tin ore is limited, and the downstream procurement is cautious. The tin price is expected to maintain a high - level narrow - range oscillation in the short term [12]. 3.9 Industrial Silicon - The industrial silicon price is oscillating narrowly. The supply is stable, and the demand is mixed. The social inventory has increased, and the price is expected to continue to oscillate at a low level in the short term [14][15]. 3.10 Lithium Carbonate - The lithium carbonate price is oscillating. The supply increase is limited, and the demand is improving marginally. The lithium price may adjust in the short term after the first upward rush is blocked [16][17]. 3.11 Nickel - The nickel price is oscillating. The inventory is increasing, but the price is at the lower end of the range with cost support. The nickel price is expected to oscillate strongly in the short term [18][19]. 3.12 Soda Ash and Glass - The price difference between soda ash and glass is expected to widen. The soda ash fundamentals are slightly better than those of glass, and both are facing inventory accumulation pressure [20]. 3.13 Steel - The steel price is under pressure. The terminal demand is weak, and the supply pressure is increasing. The steel price is expected to oscillate under pressure [21]. 3.14 Iron Ore - The iron ore price is oscillating weakly. The port inventory has increased, and the demand is weakening. The iron ore price is expected to adjust in an oscillating manner [22][23]. 3.15 Soybean and Rapeseed Meal - The soybean meal price is weakly oscillating. The Brazilian rainy season is expected to return in November, and the domestic supply is sufficient. The soybean meal price is expected to maintain a weak oscillation in the short term [24]. 3.16 Palm Oil - The palm oil price is oscillating widely. The production and demand of palm oil in Malaysia are increasing slightly, and the market driving force is limited. The palm oil price is expected to oscillate widely in the short term [25][26].

Core Viewpoint - China's agricultural cultural heritage, with 25 globally recognized sites and 188 nationally significant sites, plays a crucial role in preserving ancient farming wisdom while injecting new vitality into rural revitalization [1][14]. Group 1: Agricultural Cultural Heritage - The "Sangji Fish Pond" system in Huzhou, Zhejiang, exemplifies a sustainable ecological model that has been preserved for over 2,500 years, integrating mulberry cultivation, silkworm breeding, and fish farming [4][11]. - The heritage site has become a modern success story, generating significant economic benefits, with annual fish production exceeding 12,000 pounds and total income around 50,000 yuan from a 5-acre pond [4][8]. Group 2: Economic Impact and Community Engagement - The village of Ogan has developed over 40 educational programs related to fish culture and sericulture, attracting more than 100,000 visitors and generating over 5 million yuan in additional income for local residents [6][8]. - The tourism revenue for Ogan village has surpassed 140 million yuan this year, with total annual output value exceeding 200 million yuan, benefiting over 1,000 local households [8][14]. Group 3: Innovation and Modernization - Young innovators are utilizing technology to enhance the visibility and sustainability of agricultural heritage, including interactive tourism experiences and creative cultural products [9][13]. - The "Yiyuan Tea House Youth Version" project has received international recognition, showcasing innovative educational approaches to promote agricultural heritage [13]. Group 4: Broader Trends in Agricultural Heritage - Other regions in China, such as Longma Village in Yunnan and various locations in Guizhou, are also revitalizing their agricultural heritage through community-driven tourism initiatives, addressing the challenge of maintaining cultural significance while achieving economic viability [14][15]. - The integration of agriculture, tourism, and cultural experiences is transforming static agricultural heritage into dynamic economic assets, contributing to rural revitalization across the country [17].

Report Summary 1) Report Industry Investment Rating No industry investment rating is provided in the report. 2) Core Viewpoints of the Report - The market is influenced by the optimistic sentiment of the China - US trade agreement, with the US dollar index rebounding and global risk appetite rising. The domestic economic growth is accelerating, and the market is generally optimistic about the China - US trade negotiations. The increase in domestic policy support boosts domestic risk appetite. The short - term macro - upward drive has strengthened, and attention should be paid to the progress of China - US trade negotiations and the implementation of domestic incremental policies [2][3]. - Different asset classes have different trends: stocks are expected to be strongly volatile in the short term; bonds are expected to be volatile; commodities show different trends in different sectors, with some in a state of shock and some with clear short - term trends [2]. 3) Summary by Related Catalogs Macro - finance - **Macro**: Overseas, the US dollar rebounds due to the optimistic sentiment of the China - US trade agreement, and global risk appetite rises. Domestically, economic growth accelerates, and the market is optimistic about trade negotiations. Policy support increases, and the short - term macro - upward drive strengthens. For assets, stocks are strongly volatile in the short term and can be cautiously bought; bonds are volatile and should be cautiously observed; different commodity sectors have different trends [2]. - **Stock Index**: Driven by sectors such as combustible ice, fruit chains, and construction machinery, the domestic stock market rises significantly. With economic growth and policy support, the short - term macro - upward drive strengthens. It is recommended to cautiously buy in the short term [3]. - **Precious Metals**: The precious metals market falls at night. Due to the rise of the US dollar and profit - taking, the short - term is in a high - level correction, but the medium - and long - term upward pattern remains unchanged. Short - term long positions should be reduced on rallies, and medium - and long - term positions should be bought on dips [3]. Black Metals - **Steel**: The steel futures and spot markets continue to fluctuate. Trade conflicts are expected to ease, and there are expectations for policies, which support prices. However, the fundamentals are weak, demand is weak, and it is expected to weaken further after late October. Supply is likely to decline. There is no trending market, and the upward and downward space is limited in the short term [4]. - **Iron Ore**: The spot price is flat, and the futures price rebounds slightly. The iron - water production is expected to decline further. Steel mills replenish stocks slightly. Global shipments increase, and arrivals decrease. The port inventory rises. It is recommended to treat it with a range - bound thinking [6]. - **Silicon Manganese/Silicon Iron**: The spot prices decline slightly, and the futures prices fluctuate. The demand for ferroalloys decreases. The supply of silicon manganese increases slightly. The prices of both are expected to continue to fluctuate in the range [7]. Chemicals - **Soda Ash**: The main contract fluctuates in the range. Supply is in the capacity - release period, and demand increases slightly. It should be treated with a bearish view in the medium and long term [8]. - **Glass**: The main contract fluctuates in the range. Supply increases, and demand is weak after the "Golden September and Silver October". It is recommended to operate in the short - term range [8]. Non - ferrous Metals and New Energy - **Copper**: The Shanghai copper price fluctuates and falls, affected by the weak commodity atmosphere and the decline of gold. The US copper inventory is high, and the domestic de - stocking is less than expected. Although the Indonesian mine is shut down, it will resume production next year, and the supply is expected to increase. It is expected to maintain high - level volatility [9]. - **Aluminum**: The Shanghai aluminum price rises slightly. The external market is stronger than the domestic market, and the domestic fundamentals are poor. The inventory decline is slow. The London inventory decreases. It is expected to fluctuate in the range in the short term [10]. - **Tin**: The supply is tight in the short term, and the demand improvement is limited. The price is at a high level, which suppresses consumption. The inventory decreases this week. It is expected to maintain high - level volatility [11]. - **Lithium Carbonate**: The main contract falls slightly. The supply and demand both increase, the inventory decreases, and the market is expected to be strongly volatile [12]. - **Industrial Silicon**: The main contract falls. The production reaches a new high, and the inventory does not accumulate during the wet season. The 2511 contract faces the pressure of warehouse - receipt digestion. It is expected to fluctuate in the range [12]. - **Polysilicon**: The main contract falls. The warehouse - receipt quantity increases, and there is pressure from the concentrated cancellation of warehouse receipts in November. The supply is high, and the demand is low. It is necessary to wait for the implementation of the state - reserve news [13][14]. Energy and Chemicals - **Methanol**: The domestic methanol market is weak, and the port market has a weakening basis. The short - term supply decreases, the demand for olefins is high, and the inventory decreases slightly. However, the traditional downstream demand is weak, and the supply pressure will increase. It is expected to fluctuate in the short term [15]. - **PP**: The market price falls in part. The supply growth rate is higher than the demand, the inventory is high, and the cost support weakens. It is necessary to focus on the recovery of downstream demand [16]. - **LLDPE**: The price of polyethylene is adjusted. The supply increases, the inventory accumulates, and the demand is differentiated. The cost support weakens, and the market is under pressure in the short term [16]. - **Urea**: The urea market is weak. The production is expected to increase, the demand for compound fertilizers is ending, the agricultural demand is warming up, and the export is shrinking. The short - term market may rise slightly after a stalemate, but there is still a risk of decline [17]. Agricultural Products - **US Soybeans**: The rise of US soybeans pauses. The sowing in Brazil is progressing smoothly, and the weather in Argentina is good. The CBOT soybean assets are mainly in a wait - and - see state. The trade between China and the US is the key factor for the future market [18][19]. - **Soybean Meal/Rapeseed Meal**: The oil - mill operating rate is high, the soybean meal delivery is urgent, and the terminal procurement is cautious. The oil - mill profit is in deficit, and the willingness to support the price is strong. There is a supply gap risk in the domestic market before the South American new soybeans are listed. The soybean meal is expected to stabilize after a decline, and the rapeseed meal is mainly affected by the soybean meal [19]. - **Soybean Oil/Rapeseed Oil**: The soybean oil market is in the peak season, and the price difference between soybean oil and palm oil provides consumption expectations. The rapeseed oil inventory is decreasing, and the spot basis is stable [19]. - **Palm Oil**: The domestic palm oil arrives in large quantities, the inventory increases, and the basis is weak. The production and export growth rates in Malaysia decline [20]. - **Corn**: The corn market price is strong, the new - season corn is on the market, the downstream demand is positive, the price is close to the cost line, and farmers' reluctance to sell may increase [20]. - **Pigs**: After the festival, the production and inventory reduction accelerate, the pig price falls to a new low, and the profit is in deficit. There is support for restocking in some areas, and the supply is expected to decrease in late October, which will stabilize the price. Unless the demand increases seasonally, it is difficult for the price to recover significantly [20].

Core Insights - The 113th National Sugar and Wine Products Trade Fair and the 22nd China International Agricultural Products Trade Fair showcased new agricultural products and technologies, reflecting evolving industry trends and consumer preferences [1] Group 1: Technological Innovations - The introduction of a digital traceability system allows over 70 types of fruits and vegetables to be tracked from soil to table, enhancing food safety and quality [3] - The development of proprietary seed varieties, such as "Damo Jiaozi No. 1," demonstrates advancements in agricultural biotechnology, contributing to improved nutritional content [2] - The integration of smart management systems in livestock farming has reduced costs by over 30%, showcasing the impact of technology on agricultural efficiency [3] Group 2: Health and Consumer Trends - The rising demand for low-GI (glycemic index) foods has led to significant growth in product offerings, with sales of low-GI items increasing from under 1 million yuan to nearly 60 million yuan in just a few months [4] - Consumers are increasingly prioritizing health, as evidenced by the popularity of low-sugar bread and the demand for high-quality agricultural products with traceability [4] Group 3: New Business Models - The combination of online and offline sales strategies is transforming the agricultural market, with e-commerce and live-streaming becoming essential tools for product promotion [5] - The rural online retail market is projected to reach 2.56 trillion yuan in 2024, indicating a significant increase in digital commerce within the agricultural sector [5] Group 4: Trade Fair Dynamics - The trade fairs have evolved into comprehensive platforms that connect industry, consumers, and various business models, attracting thousands of exhibitors and professional visitors [6] - The 113th Sugar and Wine Fair attracted around 4,000 exhibitors and over 400,000 professional visitors, highlighting its significance in the industry [6]

Core Viewpoint - The agricultural, animal husbandry, and fishery sector showed a strong rebound on October 21, with the first agricultural ETF (159275) rising by 1.22%, ending a three-day decline [1][3]. Market Performance - The agricultural ETF (159275) opened higher and maintained a positive trend throughout the day, closing with a price increase of 1.22% [1]. - Key stocks in the sector included Zhongxing Junye, which hit the daily limit, and Zhuangzidao, which surged over 5% [1]. Sector Analysis - The agricultural sector is currently experiencing a rebound, with significant gains in sub-sectors such as agricultural product processing, aquaculture, and feed processing [1]. - The sector's valuation remains relatively low, with the agricultural ETF's underlying index price-to-book ratio at 2.55, indicating a favorable long-term investment opportunity [3]. Policy Impact - Recent government policies aimed at reducing overcapacity in the pig farming industry are expected to accelerate capacity reduction in the fourth quarter, potentially leading to a price increase in the second half of next year [1][4]. - The ongoing "anti-involution" measures in the pig farming industry are expected to enhance the quality and efficiency of production, leading to a gradual elimination of outdated capacity [4]. Investment Opportunities - Analysts suggest focusing on companies with significant cost improvements and high future output elasticity, particularly in the pig farming sector [4][5]. - The agricultural ETF (159275) tracks the CSI Agricultural Index, which includes leading companies in various segments such as pig farming, feed, and planting [5].

Core Insights - The article highlights the successful development of the Changshan pomelo industry in Zhejiang Province, which has reached a scale of over 1.18 million mu and is now part of the 10 billion yuan local specialty product industry chain in Zhejiang [1][2] - The growth of the pomelo industry is significantly supported by innovative financial services from Postal Savings Bank, which has introduced products like "Youyou Loan" to alleviate financing difficulties for agricultural operators [1][2] Financial Support and Innovation - Postal Savings Bank has provided credit support to 318 new agricultural operators in Changshan County, with a total loan balance of 77.7045 million yuan for the "Youyou Loan" program, effectively facilitating financial access for farmers [2] - The bank has also tailored financial service solutions for specific projects, such as a 10 million yuan science and technology credit loan for the construction of the Pomelo Cultural and Tourism Integration Industrial Park [2][3] Industry Growth and Diversification - The Changshan pomelo is evolving from a fresh fruit into various products, including beverages, food ingredients, and cosmetics, aiming for a target of becoming a 10 billion yuan industry [2][3] - The article emphasizes the collaboration between Postal Savings Bank, local government, and agricultural entities in driving the transformation of local specialties into a thriving industry, showcasing the practical implementation of rural revitalization strategies [3]

Group 1: Investment Rating - No investment rating information provided in the report Group 2: Core Viewpoints - The US corn report lowered the yield, but the production remains high. The US corn price has declined and may continue to adjust downward. The US corn is expected to trade in a narrow range. China has imposed a 15% tariff on US corn, with a total of 26% tariff within the quota, and a 22% tariff on US sorghum. The import profit of foreign corn is relatively high, with the Brazilian import price in December at 2,136 yuan. The northern port flat - price is stable, and the spot price in the Northeast corn - producing area is strong. The supply in North China has decreased, and the corn spot price has stabilized and rebounded. The wheat price in North China is strong, and the price difference between wheat and corn has widened. The domestic breeding demand is still weak, and the inventory of downstream feed enterprises is low. The new - season corn pressure has eased, and the Northeast corn spot price has started to stabilize and rebound, but there may be selling pressure in Jilin in late October [4][7]. - The number of trucks arriving at Shandong deep - processing plants has increased, and the corn spot price in Shandong is weak. The starch spot price in Shandong is around 2,760 yuan, and the Northeast starch spot price is stable. This week, the corn starch inventory has increased to 1.199 million tons, a monthly increase of 5.27% and a year - on - year increase of 46.9%. The starch price mainly depends on the corn price and downstream stocking. The by - product price is still strong, and the enterprise has made a profit. The 01 starch contract has rebounded with corn, but the North China corn price may still decline by the end of October, and the corn starch spot price will also fall later. It is expected that the 01 starch contract will trade in a narrow range following corn in the short term [8]. - The US corn is expected to rebound, and the yield may continue to be lowered, but with an expected increase in production, it will still trade in a narrow range. The quality of North China corn is poor, and the supply period will be extended. The corn spot price will bottom - out and fluctuate. The large - scale listing of Jilin corn at the end of October may bring short - term pressure relief, and the corn price may rebound in the short term. The price difference between Northeast and North China corn has narrowed. The market is currently trading on the weakening of selling pressure in the Northeast, and the port spot price has stabilized and rebounded. The 01 corn contract is bottom - out and fluctuating, and the corn spot price still has room to fall [9]. Group 3: Summary by Directory 1. First Part: Data - **Futures Market**: The C2601 contract rose 0.28% to 2,144 yuan, with a trading volume of 597,677 and a decrease of 11.20%, and an open interest of 849,415 with an increase of 6.13%. The CS2601 contract rose 0.78% to 2,429 yuan, with a trading volume of 144,253 and an increase of 53.93%, and an open interest of 200,536 with an increase of 7.48%. Other contracts also showed different price, volume, and open - interest changes [2]. - **Spot and Basis**: The spot price of corn in Zhucheng Xingmao is 2,340 yuan, and the basis is 53 yuan. The spot price of starch in Jiajie is 2,800 yuan, and the basis is 250 yuan. Different regions have different spot prices and basis values [2]. - **Spreads**: The C01 - C05 spread of corn is - 121 yuan, and the CS01 - CS05 spread of starch is 12 yuan. There are also spreads and their changes in other combinations [2]. 2. Second Part: Market Judgment - **Corn**: The US corn situation, China's tariff policy, import profit, port and regional spot price trends, wheat - corn price relationship, and breeding demand are factors affecting the corn market. The short - term corn spot price is relatively stable, but there are still uncertainties such as the selling pressure in Jilin at the end of October [4][7]. - **Starch**: The starch price is affected by corn price and downstream stocking. The inventory has increased, and the by - product price is strong. The enterprise has made a profit. The short - term starch price will follow the corn price trend [8]. 3. Third Part: Corn Options - The option strategy is a short - term strategy of accumulating puts and calls with rolling operations. Two option contracts, C2605 - P - 2160.DCE and C2601 - P - 2080.DCE, are listed with their corresponding underlying prices, closing prices, and price changes [14]. 4. Fourth Part: Related Attachments - There are six figures in total, including the spot price of corn in various regions, the basis of the corn 01 contract, the 1 - 5 spread of corn and corn starch, the basis of the corn starch 01 contract, and the spread of the corn starch 01 contract, which visually show the price trends and relationships of different varieties and contracts [16][18][21].

Market Overview - On October 21, the agricultural processing sector rose by 2.75% compared to the previous trading day, with COFCO Sugar leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Individual Stock Performance - COFCO Sugar (600737) closed at 15.54, with a gain of 6.73% and a trading volume of 590,900 shares, amounting to a transaction value of 897 million yuan [1] - Morning Light Biological (300138) closed at 14.99, up 4.75%, with a trading volume of 168,900 shares and a transaction value of 249 million yuan [1] - Guotou Zhonglu (600962) closed at 21.60, increasing by 4.20%, with a trading volume of 52,500 shares and a transaction value of 112 million yuan [1] - Other notable stocks include ST Langyuan (300175) with a 2.93% increase and a closing price of 6.33, and Yicheng Magic Hand (920273) with a 2.45% increase and a closing price of 36.32 [1] Capital Flow Analysis - The agricultural processing sector experienced a net outflow of 61.35 million yuan from institutional investors, while retail investors saw a net inflow of 93.76 million yuan [2] - The main capital flow for COFCO Sugar showed a net outflow of 34.51 million yuan from institutional investors, indicating a potential shift in investor sentiment [3] - Morning Light Biological had a net inflow of 4.03 million yuan from retail investors, suggesting continued interest from smaller investors despite overall sector outflows [3]