Core Viewpoint - The monitoring of market prices for 50 important production materials in China shows a mixed trend, with 28 products experiencing price increases, 20 seeing declines, and 2 remaining stable in early February 2026 compared to late January 2026 [2]. Group 1: Price Changes in Major Categories - In the black metal category, prices for rebar, wire rod, and ordinary medium plates decreased by 0.3%, 0.4%, and 0.2% respectively, while seamless steel pipes remained unchanged [4]. - In the non-ferrous metal category, electrolytic copper saw a price increase of 0.3%, while aluminum ingots and lead ingots decreased by 2.8% and 2.4% respectively [4]. - Chemical products like sulfuric acid and ethanol experienced price increases of 3.3% and 2.7%, while caustic soda and acetic acid saw declines of 2.4% and 4.4% respectively [4]. Group 2: Energy and Coal Prices - In the petroleum and natural gas sector, liquefied natural gas prices fell by 0.8%, while liquefied petroleum gas and gasoline prices increased by 0.3% and 0.9% respectively [4]. - Coal prices showed mixed results, with anthracite coal increasing by 0.7% and coking coal decreasing by 1.0% [4]. Group 3: Agricultural Products and Fertilizers - Among agricultural products, prices for rice and wheat increased by 0.1% and 0.3%, while cotton prices decreased by 0.6% [5]. - Fertilizer prices also varied, with urea increasing by 1.2% and potassium fertilizer rising by 0.5% [5]. Group 4: Monitoring Methodology - The price monitoring includes a comprehensive range of 50 products across 9 categories, covering over 300 markets and nearly 2000 businesses nationwide [7][8]. - The methodology involves various data collection techniques, including on-site price collection and electronic inquiries [8].

新华财经长春2月13日电（记者王晓林）2025年，吉林省工业发展亮点频现，在第一支柱产业汽车制造 业发展持续承压的背景下，石化、农产品加工、装备制造、医药、新能源等产业实现较快增长，带动全 省规模以上工业增加值同比增长7.8％。 专家表示，依托老工业基地的基础条件和科技创新优势，吉林"多业并举"的工业发展新格局正在逐步形 成，随着一批支撑新质生产力发展的重点项目规划建设和投产达效，全省工业结构将持续优化，呈现出 新旧动能接续转换的良好态势。 新兴产业领域，国电投大安、上海电气洮南、中能建松原等一批"绿电氢氨醇"标志性项目在2025年建成 投产，绿色氢氨醇产能在全国处于领先地位。2026年吉林省将推进中核汇能通榆、华电榆树、天楹辽源 等5个百亿级绿色氢基能源一体化项目建设。 工业结构正发生系统性转变 根据吉林省统计局和吉林省政府工作报告发布的数据，2025年，吉林省规模以上工业增加值同比增长 7.8％，高于全国1.9个百分点。从重点产业看，医药产业和石油化工产业增加值分别同比增长17.4％和 11.5％；食品产业、信息产业分别增长7.5％和7.3％；汽车制造业增长3.2％。农产品加工业产值增长 46.1%，装备 ...

Core Viewpoint - The Liberian Minister of Agriculture is promoting agricultural investment cooperation with the Meilan Group in China, emphasizing the need for value chain upgrades and local processing to enhance employment and improve livelihoods in Liberia [1] Group 1: Investment Opportunities - The Minister praised the Meilan Group as the world's fourth-largest natural rubber processing and trading company, aligning its development strategy with Liberia's goals for agricultural modernization [1] - The Minister welcomed Meilan Group's plans to invest in cassava processing and rice milling facilities in Liberia, highlighting the potential for job creation and market expansion [1] Group 2: Agricultural Potential and Challenges - Liberia has significant agricultural potential in terms of land, climate, and tradition, but currently relies heavily on raw material exports and imports of consumer goods like rice [1] - There is an urgent need to develop local processing capabilities in sectors such as cassava, cocoa, and coffee to capture more value [1] Group 3: Broader Cooperation - The Minister also discussed trade cooperation and investment opportunities, including the export of Liberian chili peppers to China, with officials from Hunan Province and Changsha City [1] - The Minister reiterated Liberia's willingness to collaborate with investors committed to achieving mutually beneficial growth [1]

Company Performance - Jingliang Holdings expects a net profit loss of 230 million to 320 million yuan for the year 2025, marking a shift from profit to loss year-on-year [2] - The main reasons for the loss include pressure on the oil and food segments, with the oil segment facing unstable quality of imported soybeans and rising crushing costs, while the food segment suffers from declining sales due to shrinking traditional channels and online competition [2] - The company plans to recognize impairment provisions of approximately 110 million to 160 million yuan for goodwill and receivables, further exacerbating the loss [2] Industry Environment - The oil processing industry is under pressure from raw material price fluctuations and intensified homogenization competition, with the CBOT soybean inventory-to-consumption ratio reaching a five-year high in 2025, leading to sustained pressure on crushing profits [3] - The company's financial structure has deteriorated, with a debt-to-asset ratio rising to 59.77% and a low inventory turnover rate of only 2.09 times, indicating weak short-term solvency [3] - Although the net cash flow from operating activities improved to 149 million yuan, it is insufficient to offset the impact of declining profitability [3] Market Sentiment - On February 13, the main funds experienced a net outflow of 3.46 million yuan, reflecting insufficient market confidence as the stock price declined alongside a decrease in financing balance [4] - The agricultural product processing industry index fell by 0.73% on the same day, with the company's stock decline exceeding the industry average [4] Future Outlook - Attention is required on the delay of the Hainan Yangpu project to 2027, fluctuations in raw material prices, and regulatory adjustments that may impact long-term operations [5]

证券日报网讯 2月13日，农产品（000061）在互动平台回答投资者提问时表示，截至2026年2月10日， 公司股东户数为39263户。 ...

Report Summary 1. Industry Investment Rating No information provided. 2. Core Viewpoints - This week, the price of the main contract of Zhengzhou jujube futures rose, with a weekly increase of about 1.73%. The 36 sample physical inventories decreased by 0.30% week - on - week and increased by 12.90% year - on - year. After the pre - Spring Festival stocking, market trading is mainly for short - distance replenishment. Future focus should be on the actual digestion capacity during the Spring Festival and the start rhythm and intensity of downstream replenishment after the festival [10]. - The 2025/26 jujube production season is expected to see a decline in output [46]. - In December 2025, China's jujube export volume increased by 43.36% month - on - month and decreased by 18.20% year - on - year. The cumulative export volume from January to December 2025 decreased by 3.58% year - on - year [49]. 3. Summary by Directory 3.1 Week - by - Week Highlights Summary - **Market Review**: The price of the main contract of Zhengzhou jujube futures rose this week, with a weekly increase of about 1.73% [10]. - **Market Outlook**: As of February 12, 2026, the physical inventory of 36 sample points was 11,852 tons, a 0.30% week - on - week decrease and a 12.90% year - on - year increase. After the pre - Spring Festival stocking, market trading is mainly for short - distance replenishment. Future focus should be on the Spring Festival digestion capacity and post - festival downstream replenishment [10]. - **Future Trading Tips**: Pay attention to spot prices and the consumer side [10]. 3.2 Futures and Spot Markets - **Price Trend**: The price of the Zhengzhou jujube 2605 contract rose this week, with a weekly increase of about 1.73% [14]. - **Top 20 Positions**: As of this week, the net position of the top 20 in jujube futures was - 14,493 lots [17]. - **Warehouse Receipts**: As of this week, the number of Zhengzhou jujube warehouse receipts was 3,766 [21]. - **Futures Spread**: As of this week, the spread between the 2605 and 2609 contracts of Zhengzhou Commodity Exchange jujube futures was - 195 yuan/ton [24]. - **Basis**: As of this week, the basis between the Hebei grey jujube spot price and the main contract of jujube futures was 335 yuan/ton [27]. - **Purchase Price in Main Producing Areas**: As of February 13, 2026, the purchase price of jujube bulk goods in Aksu was 5.15 yuan/kg, in Alar was 5.65 yuan/kg, and in Kashgar was 6.5 yuan/kg [30]. - **First - Grade Jujube Spot Price**: As of February 13, 2026, the wholesale price of first - grade grey jujubes in Cangzhou, Hebei was 3.95 yuan/jin, and in Henan was 4.15 yuan/jin [34]. - **Super - Grade Jujube Spot Price**: As of February 13, 2026, the spot price of super - grade grey jujubes in Cangzhou, Hebei was 9.18 yuan/kg, and the wholesale price in Henan was 9.50 yuan/kg [38]. 3.3 Industry Situation - **Supply Side - Inventory**: As of February 12, 2026, the physical inventory of 36 sample points was 11,852 tons, a 0.30% week - on - week decrease and a 12.90% year - on - year increase [42]. - **Supply Side - Production Decline Possibility**: The 2025/26 jujube production season is expected to see a decline in output [46]. - **Demand Side - Export Volume**: In December 2025, China's jujube export volume was 5,071,577 kg, with an export value of 79,876,362 yuan and an average export price of 15,749.81 yuan/ton. The export volume increased by 43.36% month - on - month and decreased by 18.20% year - on - year. The cumulative export volume from January to December 2025 was 34,362,765 kg, a 3.58% year - on - year decrease [49]. - **Demand Side - BOCE Trading**: This week, the order volume of BOCE Xinjiang Jujube Hao Brand had a small amount of transactions [54]. 3.4 Options Market and Futures - Stock Correlation - **Options Market**: Information about this week's implied volatility of at - the - money jujube options is presented in a chart, but no specific numerical data is given [55]. - **Stock Market - Haoxiangni**: A chart shows the price - to - earnings ratio of Haoxiangni, but no specific analysis is provided [57].

瑞达期货研究院 「2026.02.13」 菜籽类市场周报 美豆上涨提振 菜粕价格有所上涨 研究员：许方莉 期货从业资格号F3073708 期货投资咨询从业证书号 Z0017638 联系电话：0595-86778969 关 注 我 们 获 取 更 多 资 讯 业 务 咨 询 添 加 客 服 目录 1、周度要点小结 2、期现市场 3、产业情况 4、期权市场分析 「 周度要点小结」 总结及策略建议 Ø 菜油： 3 Ø 行情回顾：本周菜油期货震荡收跌，05合约收盘价9038元/吨，较前一周-106元/吨。 Ø 行情展望：加拿大统计局发布的库存报告显示，截至2025年12月31日，油菜籽库存为1560万吨， 同比增长18.8%，牵制其市场价格。不过，中加贸易关系缓和预期较高，提振加菜籽出口预期， 且欧盟计划2030年前逐步淘汰豆棕油生物燃料，仅菜油计入配额，支撑菜籽市场。其它方面，美 国最新生物燃料税收抵免政策，边际利好美豆油消费，不过，马棕降库预期兑现后，本月出口数 据下滑，拖累棕榈油市场。国内方面，现阶段菜油维持去库模式，对其价格形成支撑，菜油基差 维持高位。不过，澳菜籽已投入压榨，供应端压力逐步增加，且当下市场预 ...

Group 1 - The House of Representatives voted 219 to 211 to attempt to halt Trump's punitive tariffs on Canadian goods, revealing internal divisions within the U.S. political landscape [1][3][26] - Trump's tariffs, initially justified as a measure to combat fentanyl smuggling and protect American health, have led to increased costs for American industries reliant on Canadian materials, such as automotive parts and agricultural processing [5][7] - The imposition of tariffs has resulted in a 12% increase in steel costs for U.S. manufacturing, directly raising vehicle prices and burdening consumers [7] Group 2 - The vote's passage was aided by six Republican members who defied party lines due to local economic pressures, indicating that political representatives are sensitive to their constituents' economic concerns [8][10] - Public opinion is against the tariffs, with over 60% of American adults opposing the increased tariffs on Canadian goods, particularly in key states like Ohio, Pennsylvania, and Michigan [10][12] - Despite the House vote, Trump retains the power to veto the proposal, maintaining control over trade policy direction [13][15] Group 3 - Trump's strategy includes leveraging the threat of withdrawing from the USMCA trade agreement to strengthen his negotiating position, with the first review period for the agreement approaching in July 2026 [15][18] - The potential withdrawal from USMCA could have significant economic implications, with estimates suggesting a loss of over 1% of U.S. GDP and increased costs due to disrupted supply chains, particularly in the automotive sector [21] - The ongoing tariff dispute reflects broader concerns about the unpredictability of U.S. trade policy, which may undermine global trust in American leadership [25][23]

投资咨询业务资格 沪证监许可[2015]84 号 商品日报 20260213 联系人 李婷、黄蕾 电子邮箱 jytzzx@jyqh.com.cn 主要品种观点 宏观：美股科技抛售加剧，A 股延续分化修复 海外方面，1 月 CPI 发布前夕，市场避险情绪明显升温。围绕人工智能可能引发行业结 构性重塑的担忧加剧，部分资金出现阶段性"反 AI 交易"，一方面担忧 AI 对传统软件与部 分科技子行业形成盈利挤压，另一方面对企业大规模 AI 投入的回报确定性产生疑虑，进而 放大了科技板块的抛售压力，风险偏好快速收缩下，跨资产同步承压：纳指跌超 2%，黄金 下挫逾 3%，白银跌幅超过 10%，铜、油回落超 2%，10Y 美债利率回落至 4.1%。当前市场 仍处于高波动环境，今日重点关注美国 1 月 CPI 数据发布。 国内方面，在中美两国元首预计 4 月会晤及特朗普拟访华背景下，美方暂缓多项针对中 国的关键技术与安全限制措施（涵盖电信、网络设备及新能源商用车等领域），双方就高层 互访保持沟通。春节假期前处于经济数据与政策真空期，A 股周四延续震荡分化格局。中小 盘与成长风格相对占优，科创 50、中证 500 收涨，而沪深 ...

中原期货研究咨询部 晨会纪要 2026 第（30）期 发布日期：2026-02-13 | 中原期货研究咨询部 | | | --- | --- | | 0371-58620081 | 0371-58620083 | | 公司官方微信 | | 公司官方微信 1 中原期货研究咨询部 | 化工 | 主力合约 | 2026/2/13 | 2026/2/12 | 涨跌 | 涨跌幅/% | | --- | --- | --- | --- | --- | --- | | | | 8:00 | 15:00 | | | | | 焦煤 | 1,121.00 | 1,120.00 | 1.0 | 0.089 | | | 焦炭 | 1,665.00 | 1,664.00 | 1.0 | 0.060 | | | 天然橡胶 | 16,485.00 | 16,450.00 | 35.0 | 0.213 | | | 20号胶 | 13,385.00 | 13,370.00 | 15.0 | 0.112 | | | 塑料 | 6,720.00 | 6,734.00 | -14.0 | -0.208 | | | 聚丙烯PP | 6,633.00 ...