农产品日报 | 2025-11-18 晚富士产区价格分明，各地红枣以质论价 中性偏强。晚富士上量增加，但年内商品率较低，客商订购一般货源较为谨慎，入库工作陆续进入后期，入库量 低于去年同期。 风险 产区天气情况、货源质量问题、销区走货情况 红枣观点 苹果观点 市场要闻与重要数据 期货方面，昨日收盘苹果2601合约9438元/吨，较前一日变动-132元/吨，幅度-1.38%。现货方面，山东栖霞80# 一 二级晚富士价格3.75元/斤，较前一日变动+0.00元/斤，现货基差AP01-1938，较前一日变动+132；陕西洛川70# 以 上半商品晚富士价格4.15元/斤，较前一日变动+0.00元/斤，现货基差AP01-1138，较前一日变动+132。 近期市场资讯，晚富士西部出库工作继续进行，西部库内看货客商增加，成交尚可。甘肃产区客商按需调货发市 场为主、陕西咸阳产区部分客商调果农货转存。地面交易陆续收尾，目前交易集中在山西纸夹膜产区及山东栖霞 西部乡镇，地面货源质量有所下滑，果农顺价卖货为主。栖霞80#一二级主流参考价3.5-4元/斤，栖霞80#一二级半 主流参考价3.0-3.3元/斤，统货价格2.0-3.0元/ ...

Group 1: Apple Report Industry Investment Rating - Neutral to bullish [4] Core View - The price of high - quality apples is expected to remain stable and firm, and attention should be paid to the total amount and structure of apple storage this week. The commodity rate of apples this year is low, and the storage volume is lower than the same period last year [3][4] Summary by Directory - **Market News and Important Data**: The closing price of Apple 2601 contract yesterday was 9,207 yuan/ton, a change of - 22 yuan/ton from the previous day, a decrease of 0.24%. The price of Shandong Qixia 80 first - and second - grade late Fuji was 3.75 yuan/jin, with no change from the previous day. The price of Shaanxi Luochuan 70 semi - commodity late Fuji was 4.15 yuan/jin, with no change from the previous day [1] - **Recent Market Information**: The ground trading of late Fuji in the producing areas is coming to an end, and the western producing areas are gradually shifting to in - warehouse trading. The出库 price of the same quality is firmer than that during the purchase period. It is expected that the price of high - quality goods will remain stable and firm in the short term, and the price of general goods will remain stable. The peak of storage this week may occur [2] - **Market Analysis**: The apple futures price fell slightly yesterday. As the storage enters the later stage, the price of high - quality goods is expected to remain stable and firm. The trading atmosphere in the sales areas is still light, and the demand side is under pressure. The overall出库 price of farmers' goods is about 0.3 yuan higher than that on the ground [3] - **Strategy**: Neutral to bullish. The supply of late Fuji has increased, but the commodity rate this year is low. The storage volume is lower than the same period last year [4] Group 2: Red Dates Report Industry Investment Rating - Neutral [8] Core View - The recent decline of red date futures is obvious, and the market game has increased. The market expectation is relatively pessimistic. Attention should be paid to the changes in purchase price, jujube quality and peak - season consumption [7][8] Summary by Directory - **Market News and Important Data**: The closing price of Red Dates 2601 contract yesterday was 9,365 yuan/ton, a change of - 130 yuan/ton from the previous day, a decrease of 1.37%. The spot price of first - grade grey jujubes in Hebei was 9.00 yuan/kg, with no change from the previous day [5] - **Recent Market Information**: The purchase progress in Aksu and Alar regions has accelerated, and the price has slightly loosened. The purchase enthusiasm of enterprises is average. The new - season finished products in Hebei and Guangdong markets have been listed, with a small price adjustment. The purchase enthusiasm of downstream merchants is general [6] - **Market Analysis**: The red date futures price continued to decline yesterday. The raw material purchase in the producing areas is based on quality, and the purchase enthusiasm of enterprises is average. The inventory pressure is large, and the supply - demand contradiction has not been substantially alleviated. The quality of jujubes is better than that of the same period last year. The actual consumption situation in the consumption end will become another focus [7] - **Strategy**: Neutral. The red date futures have declined significantly recently, and the market expectation is pessimistic. Attention should be paid to the changes in purchase price, jujube quality and peak - season consumption [8]

Report Summary 1. Report Industry Investment Ratings - Apple: Neutral - Bullish [4] - Red Dates: Neutral [8] 2. Core Views - **Apple**: The current apple spot market is at a seasonal transition point, with cold - storage trading becoming dominant. Short - term price trends depend on the final storage scale and inventory structure, and high - quality apples are expected to maintain a stable and firm price. The year's commodity rate is low, and the inventory volume is lower than the same period last year [3][4]. - **Red Dates**: The red date futures price dropped slightly. The acquisition progress in Xinjiang has accelerated, and farmers' price - holding sentiment has weakened. The current harvesting progress is about 40% - 50%. The supply - demand contradiction has not been substantially alleviated, and the market has a pessimistic outlook. The actual consumption situation during the consumption season will be a key focus [7]. 3. Summaries by Related Catalogs Apple - **Market News and Key Data**: The closing price of the apple 2601 contract was 9229 yuan/ton yesterday, up 70 yuan/ton (+0.76%) from the previous day. The price of Shandong Qixia 80 first - and second - grade late Fuji was 3.75 yuan/jin, unchanged from the previous day. The price of Shaanxi Luochuan 70 semi - commodity late Fuji was 4.15 yuan/jin, unchanged from the previous day [1]. - **Recent Market Information**: The ground trading in late Fuji producing areas has ended, and cold - storage trading has begun. The acquisition of small fruits is active, and farmers are selling at market prices. The cold - storage trading in Gansu and Shaanxi has started, and the same - quality ex - warehouse prices are firmer than during the acquisition period. It is expected that high - quality apple prices will remain stable and firm in the short term, and general - quality apple prices will remain stable. The peak of cold - storage entry may occur this week [2]. - **Market Analysis**: The apple futures price rose slightly. The short - term price trend depends on the final storage scale and inventory structure. The ground trading in Shandong and Shanxi has ended, and the cold - storage entry work is in the later stage. The trading atmosphere in the sales areas is still weak, and the demand side is under pressure. The ex - warehouse prices of farmers' apples in Shaanxi and Gansu are about 0.3 yuan higher than the ground prices [3]. - **Strategy**: Neutral - bullish. The supply of late Fuji has increased, but the annual commodity rate is low. Merchants are cautious about ordering general - quality apples. The cold - storage entry work is in the later stage, and the inventory volume is lower than last year [4]. Red Dates - **Market News and Key Data**: The closing price of the red date 2601 contract was 9495 yuan/ton yesterday, down 90 yuan/ton (-0.94%) from the previous day. The spot price of first - grade grey dates in Hebei was 9.00 yuan/kg, unchanged from the previous day [5]. - **Recent Market Information**: The acquisition progress in Aksu and Alar has accelerated, and the prices have slightly decreased by 0.20 yuan/kg. The acquisition in Hotan and Qiemo has basically ended. The new red dates in the Hebei sales area have been slightly listed, and downstream merchants are purchasing cautiously. It is expected that the spot prices will remain stable in the short term [6]. - **Market Analysis**: The red date futures price dropped slightly. The acquisition of long - staple cotton in Xinjiang is in the middle stage, and the acquisition progress in Aksu and Alar has accelerated. Farmers' price - holding sentiment has weakened. The new red dates in the Hebei sales area have been slightly listed, and downstream purchasing is cautious. It is expected that the spot prices will remain stable in the short term. The new - season jujube trees have over - exhausted, and a production reduction is a normal expectation. The jujube quality is better than last year. The actual consumption situation during the consumption season will be a key focus [7]. - **Strategy**: Neutral. The red date futures have dropped significantly recently, and market gaming has increased. The new - season red dates in the main producing areas have not been fully harvested. Attention should be paid to changes in acquisition prices, jujube quality, and consumption during the peak season [8].

Report Industry Investment Ratings - Apple: Neutral to bullish [4] - Red dates: Neutral [8] Core Views - Apple: The price of apples in the futures market rose yesterday, with the main producing areas' ground transactions gradually ending. The prices of high - quality apples remained stable and firm, showing a two - tiered differentiation. The warehousing volume is lower than the same period last year, and the commodity rate is low this year [1][3][4]. - Red dates: The futures price of red dates fell slightly yesterday. The prices in the main producing areas and sales areas were generally stable with a slight decline. The new red dates in the sales areas were less accepted, and the inventory pressure was high. The consumption situation in the peak season will be a key factor affecting the market [5][7]. Summary by Related Catalogs Apple Market News and Important Data - Futures: The closing price of the Apple 2601 contract yesterday was 9159 yuan/ton, up 119 yuan/ton or 1.32% from the previous day [1]. - Spot: The price of 80 first - and second - grade late Fuji in Shandong Qixia was 3.75 yuan/jin, unchanged from the previous day; the price of over 70 semi - commodity late Fuji in Shaanxi Luochuan was 4.15 yuan/jin, unchanged from the previous day [1]. Recent Market Information - Ground transactions in late Fuji producing areas are gradually ending. The transaction of paper - wrapped film apples in Shanxi has slightly improved. In Shandong, transactions are concentrated in Qixia and Zhaoyuan, and the transaction in Penglai is ending. Small fruits are actively purchased, and fruit farmers sell at market prices. The fruit farmers' goods are still being warehoused in large quantities. In Shaanxi, the warehousing work is approaching the end, and some fruit farmers' goods in the western producing areas are being transferred out of storage [2]. Market Analysis - Yesterday, the apple futures price showed an upward trend. The ground transactions in the main producing areas are gradually ending. Shandong and Shanxi are still warehousing in large quantities, while Shaanxi is almost finished. The sales area's trading atmosphere is still weak, and the demand is under pressure. The overall出库 price of fruit farmers' goods in Shaanxi and Gansu is about 0.3 yuan higher than the ground price [3]. Strategy - The strategy is neutral to bullish. Although the volume of late Fuji has increased, the commodity rate this year is low, and merchants are cautious about ordering general - quality goods. The warehousing volume is lower than the same period last year [4]. Red Dates Market News and Important Data - Futures: The closing price of the Red Dates 2601 contract yesterday was 9585 yuan/ton, down 5 yuan/ton or 0.05% from the previous day [5]. - Spot: The price of first - grade gray dates in Hebei was 9.00 yuan/kg, unchanged from the previous day [5]. Recent Market Information - The mainstream prices of general - grade red dates in different producing areas vary. The harvest progress in the producing areas is about 40%. Sellers' price - holding sentiment has weakened, and merchants' purchasing enthusiasm has increased. In the sales areas, new goods are less accepted, and the prices are weakly stable [6]. Market Analysis - The red dates futures price fell slightly yesterday. The prices in the main producing areas and sales areas are generally stable with a slight decline. The harvest progress in the producing areas is advancing, and the inventory pressure is high. The consumption situation in the peak season will be a key factor affecting the market [7]. Strategy - The strategy is neutral. Recently, the red dates futures price has fallen significantly, and market competition has increased. The new red dates in the main producing areas have not been harvested in large quantities. Attention should be paid to changes in purchase prices, fruit quality, and peak - season consumption [8].

Report Summary 1. Report Industry Investment Rating No investment rating is provided in the report. 2. Core Viewpoints - As of November 5, 2025, the apple cold - storage inventory in major producing areas was 698.42 million tons, 115.02 million tons lower than the same period last year. The current storage progress does not represent the final peak. - The storage capacity ratio in Shandong was 41.03%, a year - on - year decrease of 13.42%, and in Shaanxi it was 56.81%, a year - on - year decrease of 10.77%. The new - season late - maturing Fuji apples in Shandong showed a trend of reduced yield and quality. - Shaanxi's storage is nearing completion, and the storage volume is expected to reach its peak next week. - The current late - Fuji inventory is at a relatively low level in recent years, which is reflected in the market, causing increased price volatility. It is recommended to wait and see in the short term. [2] 3. Summary by Directory Futures Market - The closing price of the main apple futures contract was 9,159 yuan/ton, and the position of the main contract was 142,155 lots, an increase of 11,488 lots. - The net long position of the top 20 futures traders was 6,233 lots, a decrease of 1,097 lots. [2] Spot Market - The spot price of apples in Gansu Jingning (paper - bagged, above 75) was 5 yuan/jin, unchanged; in Shandong Yiyuan (paper - bagged, above 75) it was 2.3 yuan/jin, unchanged; in Shaanxi Luochuan (paper - bagged, above 70 semi - commercial) it was 4.1 yuan/jin, unchanged; in Shandong Yantai Qixia (paper - bagged, above 80 first - grade) it was 3.6 yuan/jin, a decrease of 0.1 yuan/jin. [2] Upstream Situation - The national apple output was 5,128.51 million tons, an increase of 168.34 million tons. - The average wholesale price of apples was 9.46 yuan/kg, a decrease of 0.07 yuan/kg; the average wholesale price of Fuji apples was 9.04 yuan/kg, a decrease of 0.11 yuan/kg. - The total cold - storage inventory of national apples was 698.42 million tons. The storage capacity ratio in Shandong was 0.57, and in Shaanxi it was 0.41. The monthly export volume of apples was 70,000 tons. [2] Industry Situation - The monthly export value of apples was 69.1798 million US dollars, an increase of 24.86845 million US dollars; the monthly import value of fresh and dried fruits and nuts was not provided with a change value. - The profit of first - and second - grade paper - bagged 80 apple storage merchants was 0 yuan/jin. - The average wholesale price of tangerines was 6.08 yuan/kg, a decrease of 0.66 yuan/kg; the wholesale price of bananas was 5.48 yuan/kg, an increase of 0.02 yuan/kg. [2] Downstream Situation - The wholesale price of watermelons was 5.18 yuan/kg. - The average daily early - morning arrival of trucks at the Jiangmen wholesale market in Guangdong was 12.2 vehicles, a decrease of 4 vehicles; at the Xiaqiao wholesale market in Guangdong, it was 17 vehicles, a decrease of 3.6 vehicles; at the Chalong wholesale market in Guangdong, it was 24 vehicles, a decrease of 3.6 vehicles. [2] Option Market - The implied volatility of at - the - money call options for apples was 24.03%, a decrease of 0.1%; the implied volatility of at - the - money put options for apples was 24.03%, a decrease of 0.1%. [2] Industry News - In the Gansu production area, cold - storage apple trading was active, with merchants from Shandong and Shaanxi actively purchasing. The price of stored Fuji apples remained stable and firm. - In the Shaanxi production area, ground trading was ending, and some inventory holders were supplying the market, with a stable market. - In the Yuncheng production area of Shanxi, the trading of paper - laminated apples heated up, with more inquiring and purchasing merchants, and prices showed a firm trend. - In the Shandong production area, fruit farmers were still storing apples, the overall quality of ground supplies declined slightly, small - fruit trading was active, and prices rose significantly. [2]

农产品日报 | 2025-10-31 洛川晚富士入库不快，新疆红枣买方积极性减弱 苹果观点 市场要闻与重要数据 期货方面，昨日收盘苹果2601合约9268元/吨，较前一日变动+70元/吨，幅度+0.76%。现货方面，山东栖霞80# 一 二级晚富士价格3.75元/斤，较前一日变动+0.00元/斤，现货基差AP01-1768，较前一日变动-70；陕西洛川70# 以上 半商品晚富士价格4.15元/斤，较前一日变动+0.00元/斤，现货基差AP01-968，较前一日变动-70。 近期市场资讯，晚富士产区质量两极分化，好货维持稳硬运行。山东交易继续增量，好货价格维持稳硬，客商收 购好货仍略有难度，小单车收购积极，栖霞80#一二级主流参考价3.5-4元/斤，栖霞80#一二级半主流参考价3.0-3.5 元/斤，统货价格2.0-3.0元/斤，以质论价。甘肃整体行情稳定，客商入库进入后期；陕西产区好货订购进入中后期， 一般货源价格混乱，入库工作陆续开展。目前交易价格来看，陕西洛川产区晚富士70#以上半商品3.8-4.5元/斤附近， 70#以上统货3.4-3.8元/斤，订园价格3.5-3.8元/斤主流。多以质论价。甘肃静宁产区7 ...

Report Industry Investment Rating - No information provided Core Viewpoints - Since October, continuous rainy weather in major apple - producing areas has led to concerns about the quality and yield of early - ripe Fuji apples, causing a unilateral upward trend in apple futures prices, with the main contract breaking through the 9,000 yuan/ton mark [1]. - New - season apple production is estimated to be 34.23 million tons, a year - on - year decrease of 8.34%, and market concerns about the quality of stored apples are rising [1]. - Considering the general domestic consumption performance, the 01 contract is expected to face pressure above 9,000 yuan/ton, and later attention should be paid to changes in purchase prices and storage conditions [1]. Summary by Relevant Content Market Situation - Apple futures prices have been rising unilaterally due to bad weather in major producing areas, and the main contract has broken through 9,000 yuan/ton [1]. Production - New - season apple production is estimated to be 34.23 million tons, an 8.34% year - on - year decrease [1]. Regional Market Conditions - In the western产区, the transaction is nearly over, and the storage market is stable. In the Gansu产区, it operates smoothly, and fruit farmers are storing apples in an orderly manner. In the Shaanxi产区, the trading of high - quality and general - grade apples is basically over, with prices showing a strong trend, but the price of inferior fruits is chaotic [1]. - In Shandong, trading volume has increased, with high enthusiasm from buyers and storage operators, but the overall quality is slightly poor, and it is difficult to acquire high - quality goods, with prices remaining stable and slightly strong [1]. Price Details - In the Luochuan, Shaanxi产区, the price of semi - commercial late - Fuji apples over 70 is 3.8 - 4.5 yuan/jin, general - grade apples over 70 are 3.4 - 3.8 yuan/jin, and the mainstream order price is 3.5 - 3.8 yuan/jin [1]. - In the Jingning, Gansu产区, the price of commercial apples over 70 is 5 - 6 yuan/jin, the mainstream price is 5 - 5.5 yuan/jin, general - grade apples over 70 are about 4.5 yuan/jin, and the price of damaged apples is 3.5 - 4.5 yuan/jin [1]. - In the Qixia, Shandong产区, the price of second - grade strip - red late - Fuji apples over 80 is about 3.50 yuan/jin, second - grade striped apples over 80 are about 4.00 yuan/jin, general - grade apples over 80 are about 2.80 yuan/jin, and third - grade apples over 80 are about 2.00 yuan/jin [1].

农产品日报 | 2025-10-16 苹果价格两极分化，红枣销区到货锐减 苹果观点 市场要闻与重要数据 期货方面，昨日收盘苹果2601合约8665元/吨，较前一日变动+1元/吨，幅度+0.01%。现货方面，陕西洛川70# 以上 半商品晚富士价格3.85元/斤，较前一日变动+0.00元/斤，现货基差AP01-965，较前一日变动-1。 近期市场资讯，目前西部交易表现活跃，客商积极订购好货，甘肃整体价格稳定运行。目前交易价格来看，陕西 洛川产区晚富士70#以上半商品3.7-3.9元/斤附近，70#以上统货3.4-3.6元/斤，订园价格3.5-3.8元/斤主流。多以质论 价。甘肃静宁产区70#以上山地商品5-6元/斤，主流5-5.5元/斤。70#以上统货4-4.5元/斤附近，冰雹伤货源3.5-4元/ 斤。山东产区红货不多，果面质量一般，客商多流向西部及辽宁产区，招远毕郭市场晚富士红货零星交易，主流 参考价2.5-3.5元/斤。晚富士价格走势、客商收购心态、果农出售心态、天气情况、终端消费进度。 市场分析 昨日苹果期价窄幅波动。晚富士现货市场，甘肃、陕西等西部产区受持续降雨影响，晚富士采摘下树及上色受阻， 客商对好货 ...

Report Industry Investment Rating - Apple: Neutral to bullish [3] - Red dates: Neutral [7] Core Views - Apple prices are oscillating downward, and red dates' futures and spot prices are stable but weak. For apples, the supply of new-season late Fuji is limited due to weather, and prices are expected to show a significant polarization. For red dates, the new season's harvest is approaching, and the market is in a transition period with relatively stable prices and uncertain future trends [1][2][3][4][6][7] Market News and Key Data Apple - Futures: The closing price of the Apple 2601 contract yesterday was 8,638 yuan/ton, a change of -106 yuan/ton from the previous day, a decrease of 1.21%. - Spot: The price of semi-commodity late Fuji above 70 in Luochuan, Shaanxi was 3.85 yuan/jin, with no change from the previous day. The spot basis AP01 was -938, a change of +106 from the previous day. - Recent news: The supply of red late Fuji in the new season's main producing areas is limited. The prices in Shandong, Shaanxi, and Gansu are 0.5 - 1.0 yuan/jin higher than last year. The demand in the sales areas has not improved after the holidays. Merchants are cautious overall but active in purchasing high-quality goods. This week, the late Fuji in the eastern and western regions will be on the market successively, and the price polarization is obvious [1] Red Dates - Futures: The closing price of the Red Dates 2601 contract yesterday was 11,130 yuan/ton, a change of -15 yuan/ton from the previous day, a decrease of 0.13%. - Spot: The price of first-grade grey dates in Hebei was 9.50 yuan/kg, with no change from the previous day. The spot basis CJ01 was -1,630, a change of +15 from the previous day. - Recent news: The new-season red dates in the Xinjiang main producing area are about to be harvested, and the harvest time may be about a week earlier than last year. Inland merchants are going to the producing areas to prepare for the new season, and the price range for orchard reservation has expanded [4] Market Analysis Apple - Yesterday, the apple futures price oscillated downward. The supply of red late Fuji in the main producing areas was limited due to slow coloring caused by rain. The prices in various regions increased year-on-year, and the price difference between regions and qualities was significant. The demand in the sales areas did not improve after the holidays. Merchants were cautious overall but active in purchasing high-quality goods. This week, the late Fuji in the eastern and western regions will be on the market successively, and the price polarization is obvious. In the future, attention should be paid to the game between merchants' purchasing mentality and fruit farmers' selling mentality [2] Red Dates - The red dates futures price oscillated narrowly yesterday. The red dates are in a critical period of transition between peak and off-peak seasons and "new and old seasons." The grey dates in the Xinjiang main producing area are about to be harvested, and merchants have started to make small-scale orchard reservations. Affected by the National Day holiday, the trading atmosphere in the sales areas' spot market this week is average, with mainly rigid demand from downstream buyers. The spot price fluctuates narrowly, and the trading is relatively light. The inventory depletion rate of 36 sample points is flatter than in previous years, and the inventory pressure remains. The supply-demand contradiction has not been substantially alleviated. The output of red dates in the 2024 production season was large, the inventory was high, but the quality was poor. It is expected that the new-season output will be between 560,000 and 620,000 tons. The growth of red dates has not shown unexpected changes, and the weather is conducive to sugar accumulation and quality improvement. Currently, the quality of red dates is better than the same period last year [6] Strategies Apple - Neutral to bullish. Currently, the late Fuji is sporadically on the market. Affected by the weather, it is difficult to organize a large amount of red goods, and the purchasing period may be shortened. It is expected that the price of high-quality goods will be stable and firm, with obvious polarization [3] Red Dates - Neutral. Overall, if the output and quality are lower than expected, the upward trend of red dates may continue. Otherwise, the red dates futures price will face a situation of limited upward movement and strong support below, showing an oscillating pattern. Attention should be paid to consumption, new-season quality, and output changes [7]

苹果产业日报 2025-09-29 般，关注晚富士摘袋进度。操作上，建议短期维持多单。 免责声明 本报告中的信息均来源于公开可获得资料，瑞达期货股份有限公司力求准确可靠，但对这些信息的准确性及完整性不做任 何保证，据此投资，责任自负。本报告不构成个人投资建议，客户应考虑本报告中的任何意见或建议是否符合其特定状况。本 报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 瑞达期货股份有限公司研究院，且不得对本报告进行有悖原意的引用、删节和修改。 | 项目类别 | 数据指标 环比 数据指标 | 最新 | | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:苹果(日,元/吨) 85 主力合约持仓量:苹果(日,手) | 8486 | | 107796 | -5021 | | | 期货前20名持仓:净买单量:苹果(日,手) -1576 | 4442 | | | | | 现货市场 | 甘肃静宁苹果现货价格(纸袋75#以上)(日, 山东沂源苹果现货价格(纸袋75#以上)(日, | ...