广发早知道-汇总版 投资咨询业务资格： 广发期货研究所 电 话：020-88818009 E-Mail：zhangxiaozhen@gf.com.cn 目录： 每日精选： 每日重点关注品种逻辑解析 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银、铂、钯 集运欧线 商品期货： 有色金属： 铜、氧化铝、铝、铝合金、锌、锡、镍、不锈钢、碳酸锂、工业硅、多 晶硅 黑色金属： 钢材、铁矿石、焦煤、焦炭、硅铁、锰硅 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、红枣、苹果 能源化工： PTA、乙二醇、苯乙烯、纯苯、短纤、瓶片、烧碱、PVC、LLDPE、PP、 甲醇、合成橡胶、橡胶、玻璃纯碱 2026 年 1 月 9 日星期五 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 周敏波（投资咨询资格：Z0010559） 电话：020-81868743 邮箱：zhoumingbo@gf.com.cn 朱迪（投资咨询资格：Z0015979） 电话：020-88818008 邮 ...

道道全所属申万行业为：农林牧渔-农产品加工-粮油加工。所属概念板块包括：小盘、电子商务、增持 回购等。 截至11月28日，道道全股东户数2.37万，较上期减少0.42%；人均流通股12040股，较上期增加0.42%。 2025年1月-9月，道道全实现营业收入43.97亿元，同比增长4.62%；归母净利润2.16亿元，同比增长 93.69%。 分红方面，道道全A股上市后累计派现4.85亿元。近三年，累计派现2.34亿元。 责任编辑：小浪快报 1月8日，道道全盘中上涨2.04%，截至09:45，报10.98元/股，成交1476.38万元，换手率0.48%，总市值 37.77亿元。 资金流向方面，主力资金净流出77.79万元，大单买入59.14万元，占比4.01%，卖出136.92万元，占比 9.27%。 道道全今年以来股价涨4.08%，近5个交易日涨3.68%，近20日涨2.52%，近60日跌5.83%。 资料显示，道道全粮油股份有限公司位于湖南省长沙市开福区湘江中路凯乐国际城9栋10楼，成立日期 1999年7月28日，上市日期2017年3月10日，公司主营业务涉及食用植物油产品的研发、生产和销售。主 营业务收入 ...

道道全所属申万行业为：农林牧渔-农产品加工-粮油加工。所属概念板块包括：小盘、电子商务、增持 回购等。 道道全今年以来股价涨2.09%，近5个交易日跌1.10%，近20日涨1.60%，近60日跌2.09%。 资料显示，道道全粮油股份有限公司位于湖南省长沙市开福区湘江中路凯乐国际城9栋10楼，成立日期 1999年7月28日，上市日期2017年3月10日，公司主营业务涉及食用植物油产品的研发、生产和销售。主 营业务收入构成为：包装油62.71%，粕类22.45%，散装油13.67%，其他(补充)1.17%。 1月5日，道道全盘中上涨2.09%，截至10:34，报10.77元/股，成交2144.32万元，换手率0.70%，总市值 37.05亿元。 资金流向方面，主力资金净流入55.22万元，大单买入356.87万元，占比16.64%，卖出301.65万元，占比 14.07%。 责任编辑：小浪快报 截至11月28日，道道全股东户数2.37万，较上期减少0.42%；人均流通股12040股，较上期增加0.42%。 2025年1月-9月，道道全实现营业收入43.97亿元，同比增长4.62%；归母净利润2.16亿元，同比增长 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - For some varieties like tin (SN2602), plastic (L2605), and sugar (SR2605), they are short - term bullish; for others like silver (AG2602), it is fluctuating bullish [3]. - Stock index futures are expected to move in a range with structural differentiation among sectors. It is advisable to observe cautiously and consider a bull - spread strategy on deep single - day pullbacks [3]. - Treasury bond futures are in a volatile consolidation. For T2603, pay attention to the support around 107.6 - 107.8. Consider going long on T contracts on pullbacks and engage in cash - and - carry and basis - widening strategies for the 2603 contracts [3]. - Precious metals are affected by the strong US dollar. Gold and silver are recommended to hold long positions, reduce positions or lock in profits before the Spring Festival. Palladium may have a significant pullback [3]. - The container shipping index (European line) EC2602 is expected to be volatile in the short term. Steel products' prices are in a range - bound movement. Iron ore prices are supported by the expected restocking of steel mills [3]. - Energy and chemical products have different trends. For example, PX and PTA should be treated with caution after a sharp rise, while LLDPE can be short - term long on the 2605 contract [3]. - Agricultural products have various trends. For instance, soybeans and rapeseeds are in a narrow - range fluctuation, and sugar is in a short - term rebound [3]. Summary by Related Catalogs Daily Selected Views - Tin (SN2602) and plastic (L2605): Take profit on long positions, short - term bullish [3]. - Coking coal (JM2605): Take profit on long positions [3]. - Sugar (SR2605): Short - term bullish [3]. - Silver (AG2602): Fluctuating bullish [3]. Full - Variety Daily Review Financial Futures - Stock Index Futures: The index rebounds after the Bank of Japan's interest - rate hike. Small - and medium - cap indexes are strong with sectoral differentiation. The market is expected to move in a range. Consider a bull - spread strategy on deep single - day pullbacks [3]. - Treasury Bond Futures: 10 - year varieties are relatively stable. T2603 pays attention to the support around 107.6 - 107.8. Consider going long on T contracts on pullbacks and engage in cash - and - carry and basis - widening strategies for the 2603 contracts [3]. - Precious Metals: Affected by the strong US dollar, gold and silver are recommended to hold long positions, reduce positions or lock in profits before the Spring Festival. Palladium may have a significant pullback [3]. Commodity Futures - Container Shipping Index (European Line): EC2602 is expected to be volatile in the short term [3]. - Steel Products: Steel prices are in a range - bound movement. The 5 - month rebar and hot - rolled coil focus on the ranges of 3000 - 3200 yuan and 3200 - 3350 yuan respectively [3]. - Iron Ore: The decline in molten iron is limited, and the expected restocking of steel mills supports the price. Short - term range trading is recommended [3]. - Coking Coal and Coke: Both are viewed as volatile. Take profit on long positions and pay attention to the specified price ranges [3]. - Ferrosilicon and Manganese Silicon: Ferrosilicon is in a bottom - range fluctuation, while manganese silicon can be shorted on rebounds above the Ningxia spot cost [3]. - Non - ferrous Metals: Different non - ferrous metals have different trends. For example, copper is recommended to wait and see, and zinc's cross - market reverse arbitrage can be held [3]. - Energy Products: Polysilicon is in a high - level fluctuation, and lithium carbonate is expected to be in a wide - range fluctuation after a pullback. PX and PTA should be treated with caution after a sharp rise [3]. - Chemical Products: Different chemical products have different trading strategies. For example, LLDPE can be short - term long on the 2605 contract, and PP focuses on the expansion of PDH profits [3]. - Agricultural Products: Different agricultural products have different trends. For example, soybeans and rapeseeds are in a narrow - range fluctuation, and sugar is in a short - term rebound [3].

广发期货 = 03 投资咨询业务资格: 证监许可【2011】1292号 2025年12月24日 欢迎关注微信公众号 | | 集运指数 (欧线) | EC2602 | EC主力震荡下行 | 预期短期震荡 | | --- | --- | --- | --- | --- | | | 钢材 | RB2605 | 钢材减产去库,价格维持区间震荡走势 | 5月螺纹和热卷分别关注3000-3200元和3200- 3350元区间走势 | | 能 | 铁矿 | 12605 | 铁水降幅或有限,钢厂补库预期支撑价格 | 短线区间操作为主,区间参考760-810 | | 色 | 焦煤 | JM2605 | 产地煤价涨跌互现,蒙煤价格跟随期货波动,盘面超跌反弹 | 震荡反弹看待,区间参考1000-1200 | | | 焦炭 | J2605 | 12月焦炭第三轮提降落地,港口贸易价格跟随期货波动 | 震荡看待,多单止盈,区间参考1650-1800 | | | 硅铁 | SF603 | 减产缓解供需矛盾,成本持稳 | 底部震荡,区间参考5400-5650 | | | 锰硅 | SM603 | 高库存压制价格反弹,成本端有支撑 | 短线操 ...

广发早知道-汇总版 广发期货研究所 电 话：020-88818009 E-Mail：zhangxiaozhen@gf.com.cn 目录： 每日精选： 每日重点关注品种逻辑解析 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银、铂、钯 集运欧线 商品期货： 有色金属： 铜、氧化铝、铝、铝合金、锌、锡、镍、不锈钢、碳酸锂、工业硅、多 晶硅 黑色金属： 钢材、铁矿石、焦煤、焦炭 农产品： 2025 年 12 月 23 日星期二 投资咨询业务资格： 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 周敏波（投资咨询资格：Z0010559） 电话：020-81868743 邮箱：zhoumingbo@gf.com.cn 朱迪（投资咨询资格：Z0015979） 电话：020-88818008 邮箱：zhudi@gf.com.cn 陈尚宇（投资咨询资格：Z0022532） 电话：020- 88818018 邮箱：chenshangyu@gf.com.cn 本报告中所有观点仅供 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report The report comprehensively analyzes various futures products across multiple industries, including financial derivatives, precious metals, shipping, non - ferrous metals, black metals, agricultural products, and energy chemicals. Each product's market conditions, supply - demand relationships, and price trends are detailed, with corresponding investment strategies proposed based on these analyses. [2][3][4] 3. Summary by Related Catalogs 3.1 Daily Selections - Tin: With a strong fundamental outlook, tin prices are expected to remain high and fluctuate. The supply of tin ore is tight, and demand in some areas like South China shows resilience. It is recommended to hold long positions and buy on dips. [2][36][39] - Methanol: The spot and basis are both strengthening, and trading is fair. The 05 contract can be considered for long positions after shipping volume decreases. [3] - Coking Coal: Spot prices are falling, and the futures market has rebounded from an oversold position. Short - term rebound is expected. [3][61][63] - Fats and Oils: Affected by US sanctions on Venezuelan oil tankers, vegetable oils have rebounded in the short term. Different types of oils like palm oil, soybean oil, and rapeseed oil have their own market characteristics and price trends. [4][80][82] 3.2 Financial Derivatives 3.2.1 Stock Index Futures - Market Performance: A - share markets showed a mixed trend. Index futures declined, and the basis of expiring contracts converged naturally. [8][9] - News: Domestic fiscal revenue data was released, and overseas trade frictions emerged. [9][10] - Capital Flow: A - share trading volume was stable, and the central bank conducted net reverse - repo withdrawals. [10] - Investment Strategy: Given the unclear market trend, it is advisable to wait and see. [10] 3.2.2 Treasury Bond Futures - Market Performance: Treasury bond futures rose across the board, with long - term bonds experiencing significant gains. [11] - Capital Flow: The central bank conducted reverse - repo operations, resulting in net withdrawals. [12] - Investment Strategy: The short - term upward trend is not solid. It is recommended to treat the market as a shock, with short - term trading being cautious. [13] 3.3 Precious Metals - Market: Fed officials signaled a dovish stance, driving the price of precious metals higher. Silver reached a new high. [14][15] - Outlook: Gold is expected to rise in the medium - to - long term, while silver may face regulatory risks due to over - buying. Platinum and palladium are expected to rise steadily in the long term. [16][17] 3.4 Shipping Index (European Routes) - Index: SCFIS and SCFI indices showed different trends. [18] - Fundamentals: Container shipping capacity increased, while demand in some regions was weak. [18] - Logic: The futures market is expected to fluctuate in the short term. [18][19] 3.5 Non - Ferrous Metals - Copper: Inventories increased, and spot trading was average. The price is expected to be volatile, with support at 90000 - 91000 yuan/ton. [19][22] - Alumina: The price is expected to remain at the bottom and fluctuate, with a reference range of 2450 - 2700 yuan/ton. [23][25] - Aluminum: The price is expected to fluctuate widely, with support at 21700 - 22400 yuan/ton. [25][28] - Aluminum Alloy: The price is expected to fluctuate strongly at a high level, with a reference range of 20700 - 21400 yuan/ton. [29][31] - Zinc: The price center has adjusted downward, and the supply pattern is gradually tightening. The price is expected to be volatile, with support at 22850 - 22950 yuan/ton. [32][35] - Tin: The fundamentals are strong, and the price is expected to remain high and fluctuate. It is recommended to hold long positions. [36][39] - Nickel: The price is expected to recover slightly in the short term, with a reference range of 112000 - 116000 yuan/ton. [39][42] - Stainless Steel: The price is expected to fluctuate and adjust, with a reference range of 12200 - 12800 yuan/ton. [43][45] - Lithium Carbonate: The price rose significantly due to news, and the fundamentals are in a state of strong supply and demand. It is recommended to wait and see and reduce long positions. [47][50] - Polysilicon: The futures price rose to a new high, but the supply is excessive, and the demand is weak. It is recommended to wait and see. [51][53] - Industrial Silicon: The price is expected to fluctuate at a low level, with a reference range of 8000 - 9000 yuan/ton. [53][54] 3.6 Black Metals - Steel: The price is expected to fluctuate within a range, with 5 - month contracts for rebar and hot - rolled coils focusing on the 3000 - 3200 yuan/ton and 3200 - 3350 yuan/ton ranges respectively. [55][57] - Iron Ore: The price is expected to rebound, with a recommended long - position strategy for the 2605 contract in the 730 - 800 yuan/ton range. [58][60] - Coking Coal: The price has rebounded from an oversold position, and short - term rebound is expected. [61][63] - Coke: The price has rebounded from an oversold position, and short - term rebound is expected. [64][66] 3.7 Agricultural Products - Meal: The US soybean market lacks highlights, and the domestic soybean meal market has pressure. It is recommended to pay attention to the risk of a decline in the 1 - 5 positive spread. [67][69] - Live Pigs: The market has a sentiment of withholding sales, and it is necessary to pay attention to the development of the epidemic. The spot price is expected to be strong in the short term, and the futures price is expected to adjust narrowly. [70][71] - Corn: The price is expected to fluctuate narrowly, and it is necessary to pay attention to the sales rhythm and downstream replenishment. [72][74] - Sugar: The international sugar price is bearish, and the domestic price is expected to be weak. [75] - Cotton: The US cotton price is expected to fluctuate, and the domestic price increase is expected to slow down. It is necessary to pay attention to the resistance level at 14050 - 14100 yuan/ton. [76][78] - Eggs: The supply is relatively loose, and the price is expected to fluctuate at a low level. [79] - Fats and Oils: Affected by US sanctions on Venezuelan oil tankers, vegetable oils have rebounded in the short term. Different types of oils have their own market characteristics. [4][80][82] - Red Dates: The new - year supply has a slight reduction, and the demand needs to be released. The futures price is expected to be weak, and the spot price is stable. [84] - Apples: The market is light, and it is recommended to close long positions. [85] 3.8 Energy Chemicals - PX: The medium - term supply - demand is expected to be tight, and the price has support at a low level. It is recommended to buy on dips in the 6600 - 7000 yuan/ton range. [87][88] - PTA: The short - term supply - demand is expected to be tight, and the medium - term is expected to be loose. It is recommended to buy on dips in the 4500 - 4800 yuan/ton range and consider a long - position strategy for the TA5 - 9 spread. [89][90] - Short - Fiber: The supply - demand is expected to be weak, and the price follows the raw material. It is recommended to take a similar strategy as PTA and reduce the processing margin on rallies. [91][92] - Bottle Chip: The inventory decline supports the processing margin. It is necessary to pay attention to the restart and commissioning of devices. It is recommended to sell the PR2602 - P - 5500 option on rallies. [93][94] - Ethylene Glycol: The domestic supply is shrinking, but the far - month supply - demand is expected to be weak. It is recommended to sell the EG2605 - C - 4100 option on rallies. [95][97] - Pure Benzene: The supply - demand is weak, and the price has limited downward space. It is expected to fluctuate in the 5300 - 5600 yuan/ton range. [98] - Styrene: The supply - demand is expected to be weak, and the price has limited upward drive. It is expected to fluctuate in the 6400 - 6700 yuan/ton range. [99][100] - LLDPE: The trading has weakened, and it is recommended to wait and see. [101][102] - PP: The supply and demand are both increasing, and it is necessary to pay attention to the PDH profit. [102] - Methanol: The spot and basis are strengthening, and the 05 contract can be considered for long positions after shipping volume decreases. [3][103][104] - Caustic Soda: The supply - demand has pressure, and the price is expected to be weak. [104][105] - PVC: The price has rebounded due to news, but the supply - demand is still in an oversupply situation. It is recommended to go short on rallies. [106] - Soda Ash: The supply is excessive, and the price has no continuous upward drive. It is recommended to short on rallies after a rebound. [107][109] - Glass: The spot price has stabilized, but the market still has pressure. It is recommended to close long positions. [107][110] - Natural Rubber: The price is expected to fluctuate in the 15000 - 15500 yuan/ton range, and it is recommended to wait and see. [110][113] - Synthetic Rubber: The cost is strong, and the price is expected to fluctuate in the short term. It is recommended to pay attention to the pressure at 11200 yuan/ton for the BR2602 contract. [113][115]

Group 1: Report Industry Investment Ratings - No industry investment ratings are provided in the report [3] Group 2: Core Views of the Report - The Fed decided to cut interest rates by 25bp, with an unexpectedly dovish stance, improving short - term global liquidity expectations, but the market is still affected by the Bank of Japan's interest rate hike expectations and is in a state of shock and correction [3] - Market sentiment has improved, and interest rates have declined slightly. The performance of Treasury bond futures is differentiated, with large expected fluctuations [3] - The US non - farm payroll data is relatively weak. Precious metals rebounded after a decline during the session, with platinum and palladium showing a strong trend [3] - The iron ore inventory at ports has increased as iron - making output has decreased, and iron ore has rebounded in shock [3] - The second round of coke price cuts in December has been implemented, and the port trade price has led the decline [3] Group 3: Summaries by Relevant Catalogs Daily Selected Views - Carbonate lithium (LC2605) is expected to fluctuate strongly; Styrene (EB2602) is expected to fluctuate weakly; Coking coal (JM2605) is expected to rebound from the bottom; Palm oil (P2605) is expected to fluctuate weakly [3] All - Variety Daily Reviews and Operation Suggestions Stock Index Futures - Affected by concerns about Asia - Pacific market liquidity, stock index futures have corrected across the board. With the current market trend unclear, it is recommended to be cautious and wait and see [3] Treasury Bond Futures - The market sentiment has warmed up, and interest rates have declined slightly. The performance of Treasury bond futures is differentiated. It is recommended to wait and see in the short term and look for positive arbitrage and basis widening opportunities in the 2603 contract [3] Precious Metals - Due to the relatively weak US non - farm payroll data, precious metals rebounded after a decline during the session. It is recommended to buy after a correction for gold; be cautious about silver entering the overbought zone; and maintain a low - buying strategy for platinum and palladium [3] Shipping Index (European Line) - The EC2602 contract of the container shipping index (European Line) is expected to fluctuate in the short term [3] Steel and Iron Ore - With iron - making output at a low level, it is recommended to go long on the January rebar - to - iron - ore ratio. Iron ore is expected to fluctuate upwards, with a reference range of 730 - 800 [3] Coking Coal and Coke - Coking coal is expected to rebound from an oversold position, with a reference range of 1000 - 1150, and it is recommended to do a 1 - 5 reverse spread. Coke is expected to rebound in shock, with a reference range of 1450 - 1600, and it is also recommended to do a 1 - 5 reverse spread [3] Non - Ferrous Metals - Copper prices are oscillating at a high level. It is recommended to wait and see in the short term and pay attention to the support at 90000 - 91000. Aluminum prices are oscillating, and it is recommended to go long at low prices. For other non - ferrous metals, different trading strategies are provided according to their fundamentals [3] New Energy - Carbonate lithium is expected to be strongly oscillating, and it is recommended to wait and see. Polysilicon is oscillating at a high level, with a reference range of 50000 - 60000 [3] Chemicals - Different chemical products such as PX, PTA, short - fiber, etc. have different supply - demand situations and price trends. Different trading strategies are recommended for each product, such as short - term high - level oscillation, reverse spread, etc. [3] Agricultural Products - Soybean meal and rapeseed meal are expected to fluctuate narrowly. Hog futures are in a bottom - grinding market. Corn is expected to adjust in shock. Oils are expected to be bearish in the short term. Sugar is expected to decline in shock. Other agricultural products also have corresponding price trends and trading suggestions [3]

广发早知道-汇总版 广发期货研究所 电 话：020-88818009 E-Mail：zhangxiaozhen@gf.com.cn 目录： 每日精选： 每日重点关注品种逻辑解析 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银、铂、钯 集运欧线 商品期货： 有色金属： 铜、氧化铝、铝、铝合金、锌、锡、镍、不锈钢、碳酸锂、工业硅、多 晶硅 黑色金属： 钢材、铁矿石、焦煤、焦炭 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、红枣、苹果 能源化工： PTA、乙二醇、苯乙烯、纯苯、短纤、瓶片、烧碱、PVC、LLDPE、PP、 甲醇、合成橡胶、橡胶、玻璃纯碱 2025 年 12 月 16 日星期二 投资咨询业务资格： 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 周敏波（投资咨询资格：Z0010559） 电话：020-81868743 邮箱：zhoumingbo@gf.com.cn 朱迪（投资咨询资格：Z0015979） 电话：020-88818008 邮箱：zh ...

1. Report Industry Investment Ratings No specific industry investment ratings are provided in the report. 2. Core Views of the Report - The Fed cut interest rates by 25bp, with an unexpectedly dovish stance, which is expected to improve global liquidity in the short - term and boost risk assets. A - shares may have short - term upward opportunities, but high - level chasing should be treated with caution [3]. - The pressure on the bond market to decline may have passed its peak, and the bond futures may return to a sideways trend in the short - term. There is a possibility of a phased rebound in the bond market later, and investors are advised to wait and see for now [3]. - Precious metals have increased fluctuations, and short - term gold prices need to build momentum to break the sideways pattern. Silver may face increased trading congestion, and investors should be cautious about chasing high prices [3]. 3. Summary by Categories 3.1 Daily Selected Views - **Bullish**: Tin (SN2601) is expected to be sideways with an upward bias; Methanol (MA2601) and rebar (rb2501) are expected to be sideways with an upward bias at the bottom [3]. - **Bearish**: Corn (C2601) is expected to be sideways with a downward bias [3]. 3.2 All - Variety Daily Reviews 3.2.1 Financial Products - **Stock Index Futures**: Due to the Fed's interest rate cut, short - term global liquidity expectations will improve, and A - shares have short - term upward opportunities. It is recommended to go long intraday but be cautious about high - level chasing, and consider using protective options or bull spread strategies [3]. - **Bond Futures**: The pressure on the bond market to decline may have passed, and bond futures may return to a sideways trend. It is recommended to wait and see for now and pay attention to the outcome of the Central Economic Work Conference. Positive arbitrage opportunities between TL and TF2603 contracts can be gradually considered [3]. - **Precious Metals**: Gold prices are fluctuating in the range of $4150 - 4260 and need to build momentum to break the sideways pattern. Silver may face increased trading congestion after a rapid rise. It is recommended to use a virtual option double - selling strategy for gold and be cautious about chasing high prices for silver [3]. 3.2.2 Industrial Products - **Steel and Iron Ore**: Steel prices have stopped falling and are expected to continue to move sideways. Iron ore is expected to weaken from its high - level sideways movement, and coking coal and coke are also expected to be bearish [3]. - **Non - ferrous Metals**: For copper, long - term long positions can be held. Aluminum prices are affected by the Fed's interest rate decision, and it is recommended to take profits for previous long positions and then go long again. For other non - ferrous metals, different trading strategies are provided according to their respective fundamentals [3]. - **New Energy and Chemicals**: Polysilicon futures are rising, while industrial silicon prices are falling. PX has support at low levels, while PTA and short - fiber are expected to be weak in the short - term. Different trading strategies are recommended for various chemical products based on their supply - demand situations [3]. 3.2.3 Agricultural Products - **Grains and Oils**: Corn is expected to be sideways with a downward bias, while soybean meal and rapeseed meal are expected to move in a narrow range. Palm oil has broken through support levels, and its main contract is testing the support at 8500 [3]. - **Livestock and Poultry**: The spot price of live pigs is expected to be sideways with an upward bias in the short - term due to pickling demand [3]. - **Other Agricultural Products**: Sugar is expected to move sideways at the bottom, cotton is expected to be sideways with an upward bias, and eggs are expected to be sideways with a downward bias [3].