农产品日报 | 2025-08-26 现货购销良好，豆粕维持震荡 粕类观点 风险 政策变化 玉米观点 市场要闻与重要数据 市场要闻与重要数据 期货方面，昨日收盘豆粕2509合约3117元/吨，较前日变动+29元/吨，幅度+0.94%；菜粕2509合约2547元/吨，较前 日变动+4元/吨，幅度+0.16%。现货方面，天津地区豆粕现货价格3100元/吨，较前日变动+20元/吨，现货基差M09-17， 较前日变动-9；江苏地区豆粕现货3010元/吨，较前日变动+30元/吨，现货基差M09-107，较前日变动+1；广东地区 豆粕现货价格2960元/吨，较前日变动跌+20元/吨，现货基差M09-157，较前日变动-9。福建地区菜粕现货价格2610 元/吨，较前日变动+20元/吨，现货基差RM09+63，较前日变动+16。 近期市场资讯，Pro Farmer 估计美国玉米产量为 162.04 亿蒲式耳，平均产量为每英亩 182.7 蒲式耳。估计美国大 豆产量为 42.46 亿蒲式耳，平均每英亩 53 蒲式耳。咨询机构AgResource表示，巴西2025/2026年度大豆产量预计 为1.765亿吨，较上一年度增长3%。 ...

| 业期现日报 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 土海旗 Z0019938 2025年8月26日 | | | | | | | | | | | | 田沢田 | | | | | | | | | | | | 8月25日 8月22日 涨跌 涨跌幅 | | | | | | | | | | | | 现价 江苏一级 8740 8600 ર૦ 0.58% | | | | | | | | | | | | 期价 Y2601 8536 8492 44 0.52% | | | | | | | | | | | | 墓差 Y2601 204 198 6 3.03% | | | | | | | | | | | | ﺗ | | | | | | | | | | | | 0.0096 | | | | | | 合单 15760 15760 0 | | | | | | 棕榈油 | | | | | | | | | | | | 8月25日 8月22日 涨跌 涨跌幅 | | | | | | | | | | ...

叶倩宁 投资咨询业务资格:证监许可 [2011] 1292号 2025年8月26日 | 122 | 2.07%! | 47.30% | 硅锰(SM601) | 2898 | 折算价:6517硅锰:内蒙-湖北仓单 | 6020 | 172 | 3310 | 68.10% | 螺纹钢 (RB2510) | 5.48% | HRB40020mm: 上海 | 3138 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Q235B: 4.75mm: 上海 | 35.50% | 3430 | 41 | 1.21% | 热卷(HC2510) | 3389 | ਦੇਰੇ | 7.49% | 48.60% | 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 | 846 | 787 | 铁矿石 (12601) | | | | | | 1624 | 1736 | -112 | -6.44% | 折算价:准一级冶金焦A13, S0.7 ...

| 硅铁(SF511) | | | | | 5648 5642 6 0.11%! 59.40% 折算价:72硅铁合格块:内蒙-天津仓单 | | | --- | --- | --- | --- | --- | --- | --- | | 5832 188 3.22% 57.40% 折算价:6517硅锰:内蒙-湖北仓单 | | 硅锰 (SM601) 6020 | | | | | | 93.50% 2498.0 232.0 9.29% 吉林:长春:出厂价:玉米淀粉 | | 玉米淀粉(CS2511) 2730 | | | | | | 3119 161 5.16% 66.20% HRB40020mm:上海 | | 螺纹钢 (RB2510) 3280 | | | | | | 3361 39 1.16%! 34.60% Q235B: 4.75mm: 上海 | | 热卷 (HC2510) 3400 | | | | | | 770 62 8.05% 50.10% 折算价:62.5%巴混粉(BRBF):淡水河谷:日照港 | | 铁矿石 (12601) 832 | | | | | | -54 1679 -3.24% 32.01% ...

玉米系产业日报 2025-08-25 玉米替代等潜在压制因素继续作用下，市场看涨情绪持续降温，现货市场下调范围扩大。盘面来看，玉米 总体仍然处于偏弱趋势中，偏空思路对待。 | 观点总结（ | 随着前期检修企业陆续复工，近来玉米淀粉行业开机率有所回升，供应端压力增加。同时，下游需求仍处淡季，签单走货欠佳，玉 | | --- | --- | | 淀粉） | 米淀粉供大于求格局明显。截至8月20日，全国玉米淀粉企业淀粉库存总量133.9万吨，较上周增加0.70万吨，周增幅0.53%，月增 | | 重点关注 | 周四、周五mysteel玉米周度消耗以及淀粉企业开机、库存情况 | | 数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ | 幅2.14%；年同比增幅25.61%。盘面来看，淀粉总体仍维持偏弱趋势，偏空思路对待。 | 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 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 ...

瑞达期货研究院 「2025.08.22」 玉米类市场周报 现货市场疲软 期货维持偏弱调整 取 更 多 资 讯 联系电话：0595-86778969 关 注 我 们 获 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 策略建议：偏空交易为主。 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 3 Ø 玉米： Ø 行情回顾：本周玉米期货震荡收低。主力2511合约收盘价为2175元/吨，较前一周-15元/吨。 Ø 行情展望：由于种植面积和单产的上调，USDA将美玉米2025/26年度产量和期末库存均明显提升， 期末库存来到2018/19年度以来最高水平。拖累国际玉米价格下滑。近来市场等待美国作物巡查结 果，巡查前三天各州总体产量前景相对良好。国内方面，东北产区9月份新粮将陆续上市，陈粮可 售期缩短，持粮主体出货意愿提升，贸易粮库存持续减少，但轮换粮集中出库，进口玉米持续拍 卖，市场供应略显宽松，加工企业多依靠合同粮或消耗库存满足加工需求，采购量明显不足，需 求支撑力度有限，现货市场价 ...

Core Viewpoint - Despite a decline in revenue, the company achieved a significant increase in net profit due to cost control measures and efficiency improvements [1] Financial Performance - The company reported a revenue of 8.812 billion yuan, a year-on-year decrease of 11.09% [1] - Net profit attributable to shareholders reached 107 million yuan, marking a year-on-year increase of 74.44% [1] - The net profit excluding non-recurring gains and losses was 31.9079 million yuan, up 71.50% year-on-year [1] - In Q1, the company achieved a net profit of 40.5315 million yuan, while Q2 net profit was 66.7151 million yuan, reflecting a quarter-on-quarter growth of 64.60% [1] Cost Management - The company's operating costs decreased by 12.40%, outpacing the revenue decline [1] - The increase in gross margin for agricultural product processing and sales was 1.3 percentage points compared to the same period last year [2] - Sales expenses were 92.81 million yuan, down 2.14% year-on-year, and management expenses were 266 million yuan, down 4.53% year-on-year [5] Projects and Developments - The company is advancing multiple projects, including a 150,000-ton/year starch sugar expansion project in Chengdu and a 30,000-ton/year poly-lactic acid project relocation [5] - The Chengdu expansion project aims for production by the end of August, while the poly-lactic acid project is on track for trial production by the end of the year [5] - The company received administrative approval for the enzyme method production of D-alose sugar in early July [5]

大宗商品研究所 农产品研发报告 玉米淀粉日报 2025 年 8 月 21 日 玉米淀粉日报 第一部分 数据 | 玉米&玉米淀粉数据日报 | | | | | | | | 2025/8/21 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 期货盘面 | | | | | | | | | | 期货 | | 收盘价 | 涨跌 | 涨跌幅 | 成交量 | 增减幅 | 持仓量 | 增减幅 | | C2601 | | 2165 | -4 | -0.18% | 69,772 | -39.46% | 385,153 | 1.69% | | C2605 | | 2241 | -3 | -0.13% | 5,784 | -53.66% | 61,734 | 1.21% | | C2509 | | 2208 | -18 | -0.82% | 89,676 | -29.09% | 183,845 | -12.05% | | CS2601 | | 2513 | -9 | -0.36% | 9,167 | -28.79% | 42,410 | 4.35% | | CS2 ...

投资咨询业务资格:证监许可【2012】31号 ITG 国贸期货 玉米系数据日报 国贸期货研究院 农产品研究中心 黄向岚 投资咨询号:Z0021658 从业资格号:F03110419 2025/8/21 | | 指标 | 8月20日 | 涨跌 | 升贴水 | 对主力基差 | | --- | --- | --- | --- | --- | --- | | | 锦州港平舱价 | 2260 | -50 | 0 | 18 | | | 鲅鱼圈港平舱价 | 2310 | 0 | 0 | 68 | | | 蛇口港市场价 | 2410 | -20 | | | | | 黑龙江省-哈尔滨 | 2180 | 0 | -195 | 133 | | | 黑龙江省-绥化 | 2180 | 0 | -195 | 133 | | | 吉林省-长春 | 2240 | 0 | -130 | 128 | | | 辽宁省-沈阳 | 2270 | -10 | -80 | 108 | | 玉米现货 | 辽宁省-铁岭 | 2260 | 0 | -80 | 98 | | | 内蒙古-通辽 | 2220 | 0 | -100 | 78 | | | 内蒙古-赤峰 ...

1. Report Industry Investment Rating No relevant information provided. 2. Core Views Oils and Fats - Palm oil futures face downward pressure due to concerns about production growth and a slowdown in export growth in the second half of the month. In the long - term, there is a risk of price decline. In the domestic market, Dalian palm oil futures are expected to seek support at around 9200 yuan [1]. - For soybean oil, the policy on small refiner exemptions in the US may affect its industrial demand. Domestically, the spot price has fallen with the market, but the basis quote is expected to rise due to increased consumption during the Mid - Autumn Festival and the start of the school term [1]. Grains and Meals - For grains and meals, the bottom range has shifted upward, and the overall trend is still upward. It is recommended to take the opportunity to lay out long - term long positions [3]. Corn - Corn is at the stage of new and old crop alternation. The market sentiment is weak due to sufficient imports and the upcoming new crop. In the short - term, the demand is hard to improve significantly, and the market is expected to remain volatile and weak. In the medium - term, the cost of new - season corn is expected to decline, and the supply pressure is obvious [6]. Pigs - The spot price of pigs has stabilized. With the start of school and cooler weather in the Northeast, consumption has increased, and the market sentiment is turning bullish. However, there may be a wave of concentrated slaughtering before the double festivals, and there is more uncertainty in the far - end market. It is recommended to wait and see [8]. Sugar - There is a risk of downward revision of Brazil's sugar production. It is difficult for raw sugar to fall sharply in the short - term. With the increase in the destocking progress in Guangxi, the domestic sugar price is expected to remain volatile, and the downward momentum has weakened [10]. Cotton - Short - term domestic cotton prices may fluctuate within a range due to tight old - crop inventory and low imports. However, with the upcoming new - crop listing and the expected increase in production, the far - end market is under pressure [11]. Eggs - Egg supply is stable, and the market is moving slowly. The inventory of laying hens is large, and the supply of cold - storage eggs may increase the supply pressure. Egg prices are expected to remain bearish [12]. 3. Summary by Categories Oils and Fats - **Palm Oil**: On August 20, the price of Jiangsu Grade 1 palm oil was 8630 yuan, down 200 yuan or 2.27% from the previous day. The basis of Y2601 decreased by 88 yuan or 31.88%. The inventory of palm oil remained unchanged at 15,310 [1]. - **Soybean Oil**: The price of Jiangsu Grade 4 soybean oil was 9900 yuan on August 20, down 130 yuan or 1.30% from the previous day. The basis of OI601 decreased by 133 yuan or 100.76% [1]. - **Rapeseed Oil**: The price of Jiangsu Grade 4 rapeseed oil was 10030 yuan on August 20, down 130 yuan or 1.30% from the previous day. The basis of OI601 decreased by 1 yuan [1]. Grains and Meals - **Soybean Meal**: The price of Jiangsu soybean meal remained unchanged at 3070 yuan. The price of M2601 decreased by 1 yuan or 0.03%. The basis increased by 1 yuan or 1.10%. The import profit of Brazilian soybeans for the October shipment decreased by 33 yuan or 36.7% [3]. - **Rapeseed Meal**: The price of Jiangsu rapeseed meal decreased by 40 yuan or 1.51% to 2610 yuan. The price of RM2601 increased by 23 yuan or 0.88%. The basis decreased by 63 yuan or 136.96% [3]. - **Soybeans**: The price of Harbin soybeans remained unchanged at 3950 yuan. The price of the main soybean contract decreased by 10 yuan or 0.25%. The basis increased by 10 yuan or 10.42% [3]. Corn - **Corn**: The price of Corn 2511 remained unchanged at 2170 yuan. The price of Jinzhou Port FOB decreased by 50 yuan or 2.16%. The basis decreased by 50 yuan or 35.71%. The import profit decreased by 20 yuan or 4.26% [6]. - **Corn Starch**: The price of Corn Starch 2511 increased by 9 yuan or 0.36% to 2489 yuan. The basis decreased by 9 yuan or 3.91% [6]. Pigs - **Futures**: The price of the main pig contract decreased by 125 yuan or 0.90% to 13775 yuan. The basis increased by 90 yuan or 25.71% [8]. - **Spot**: The price of pigs in Henan remained unchanged at 13850 yuan, while the price in Guangdong increased by 200 yuan to 15240 yuan [8]. Sugar - **Futures**: The price of Sugar 2601 decreased by 15 yuan or 0.26% to 5661 yuan. The price of Sugar 2509 increased by 11 yuan or 1.72% [10]. - **Spot**: The price of Nanning sugar decreased by 10 yuan or 0.17% to 5970 yuan. The import price of Brazilian sugar (in - quota) decreased by 43 yuan or 0.95% [10]. Cotton - **Futures**: The price of Cotton 2509 decreased by 20 yuan or 0.14% to 13800 yuan. The price of Cotton 2601 decreased by 45 yuan or 0.32% to 14055 yuan [11]. - **Spot**: The price of Xinjiang 3128B cotton remained unchanged at 15080 yuan. The CC Index: 3128B decreased by 3 yuan or 0.02% to 15240 yuan [11]. Eggs - **Futures**: The price of the Egg 09 contract decreased by 17 yuan or 0.57% to 2983 yuan. The price of the Egg 10 contract increased by 7 yuan or 0.23% to 3072 yuan [12]. - **Spot**: The price of eggs in the main production areas decreased by 0.01 yuan or 0.41% to 3.30 yuan per catty [12].