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The Inflation Trifecta: Fiat Currency, Precious Metals, and Fuel
See It Market· 2025-10-02 15:00
The trifecta of inflation” usually refers to the three core drivers that push inflation higher at the same time, creating a stronger and often stickier inflationary environmentAccording to Economists, the trifecta they refer to are Demand-Pull Inflation – Prices rise because demand outpaces supply (booming economy, stimulus, strong consumer spending).Cost-Push Inflation – Prices rise as production costs increase (energy, commodities, wages, tariffs, supply shocks).Built-In / Wage-Price Inflation – A sel ...
Sugar Prices Supported by a Weaker Dollar and Stronger Global Demand
Yahoo Finance· 2025-09-30 18:27
October NY world sugar #11 (SBV25) on Tuesday closed up +0.08 (+0.50%), and December London ICE white sugar #5 (SWZ25) closed up +6.00 (+1.30%). Sugar prices moved higher on Tuesday, with NY sugar posting a 4-week high and London sugar climbing to a 1.5-week high. Tuesday's weaker dollar (DXY00) is supportive for sugar prices, along with signs of stronger global demand, as Pakistan has placed orders for a total of 320,000 MT of sugar for immediate delivery. More News from Barchart Last Tuesday, NY sug ...
25Q4:有望出现熊市周期中的弱反弹行情
Dong Zheng Qi Huo· 2025-09-30 13:36
25Q4:有望出现熊市周期中的弱反弹行情 东证衍生品研究院农产品组 方慧玲 2025年9月 方慧玲 首席农产品分析师 从业资格号: F3039861 投资咨询号: Z0010565 Tel: 021-63325888-2737 Email:huiling.fang@orientfutures.com 行情回顾:25Q3,内盘延续震荡下滑,外盘偏弱震荡为主 内外盘主力合约走势 15.0 16.0 17.0 18.0 19.0 20.0 21.0 22.0 23.0 24.0 5,300 5,400 5,500 5,600 5,700 5,800 5,900 6,000 6,100 6,200 6,300 24/10 24/11 24/12 25/01 25/02 25/03 25/04 25/05 25/06 25/07 25/08 25/09 元/吨 美分/磅 郑糖主力合约 ICE原糖主力(右轴) 外盘偏弱震荡为主,主力合约运行于15-17美分/磅。 • 三季度,巴西进入压榨高峰期,且糖厂将甘蔗制糖比维持在创纪 录高位水平,巴西糖生产供应强劲,而国际需求平淡,导致国际 贸易流处于供应过剩的格局中,再加上东南亚 ...
Sugar Prices Settle Higher as Dollar Weakness Spurs Short-Covering
Yahoo Finance· 2025-09-29 18:29
October NY world sugar #11 (SBV25) on Monday closed up +0.15 (+0.95%), and December London ICE white sugar #5 (SWZ25) closed up +1.30 (+0.28%). Sugar prices on Monday climbed to 1.5-week highs and settled higher as dollar weakness (DXY00) spurred short-covering in sugar futures. More News from Barchart Last Tuesday, NY sugar posted a 4.25-year nearest-futures low, and London sugar posted a 4-year low as they extended their 7-month downtrend due to prospects of abundant global sugar supplies. Last Tues ...
农林牧渔行业周报第 31 期:猪价跌跌不休,双节有望提振-20250927
HUAXI Securities· 2025-09-27 13:20
Investment Rating - The industry rating is "Recommended" [3] Core Insights - The report highlights the ongoing decline in pork prices, with the average price of live pigs at 12.64 CNY/kg, down 3.05% week-on-week, indicating a supply surplus in the market. However, upcoming festivals are expected to boost consumption and potentially stabilize prices [2][13] - The report emphasizes the importance of improving grain yield through advanced agricultural practices and technology, particularly in the context of food security and the promotion of genetically modified crops [1][12] Summary by Sections Planting Industry Chain - The Ministry of Agriculture and Rural Affairs is focusing on enhancing grain yields through a comprehensive approach tailored to specific crops and regions. This includes promoting high-performance agricultural machinery and addressing storage issues in different regions [1][12] - Companies like Beidahuang and Suqian Agricultural Development are expected to benefit from these initiatives, along with seed companies such as Dabeinong and Longping High-Tech [1][12] Swine Farming - The current average price of live pigs is 12.64 CNY/kg, reflecting a significant decrease due to oversupply. A meeting was held to discuss reducing the breeding sow population by approximately 1 million to stabilize prices [2][13] - The report suggests that the swine industry will focus on quality improvement and efficiency, with a gradual elimination of outdated production capacity. Companies like Muyuan Foods and Wen's Foodstuffs are highlighted as key players to watch [2][5][13] Key Agricultural Product Data Tracking - Corn: The average price is 2360.47 CNY/ton, down 0.10% week-on-week [26] - Wheat: The average price is 2434.39 CNY/ton, up 0.23% week-on-week [29] - Soybeans: The average price is 4050.42 CNY/ton, up 0.17% week-on-week [38] - Cotton: The average price is 15090.00 CNY/ton, down 0.89% week-on-week [46] Feed and Vitamin Prices - The average price of pig feed is 2.68 CNY/kg, with no change week-on-week. Vitamin E prices have decreased by 7.84% to 51.70 CNY/kg [52][63]
糖业和园艺业推动津巴布韦农业发展
Shang Wu Bu Wang Zhan· 2025-09-27 03:23
园艺(花卉和水果)业成为农业增长新引擎,在国际融资和政府项目推动下快速发展,蓝莓和鳄梨 等作物出口强劲。鳄梨产量较2017年增长164%,津已成为非洲第五大鳄梨生产国。蓝莓出口收入2020 至2024年增长351%。预计至2030年,园艺出口市场规模可达20亿美元,有望推动农业出口多元化,减 少对传统作物和国内消费的依赖,增强经济韧性。 《先驱报》9月25日报道,IH证券发布的2025年津巴布韦农业部门报告显示,津农业正持续复苏并 实现增长,政府预计该行业产值将在2025年达到137.5亿美元,较2021年的82亿美元显著提升。这一增 长得益于降雨改善、水利基础设施投资以及对高价值作物的政策倾斜。糖业产量超过国内需求,但由于 售价高于进口糖、加之糖税及其他成本压力,国内消费低迷。 (原标题:糖业和园艺业推动津巴布韦农业发展) ...
3000字深度解析阿根廷 “零税卖粮” | 一场为赚外汇的豪赌,把全球大豆市场都搅动了
对冲研投· 2025-09-23 03:43
还设了个 "止损线":只要凑够 70 亿美元外汇,这政策就停。也就是这事,还是存在大量变数的。这事儿被人叫做 "新型大豆美元",看着是给农业让利, 其实藏着阿根廷的急事儿:外汇快不够用了,而且 10 月底要大选,稳定汇率是眼下的头等大事。今天就用大白话讲讲,这政策到底是咋回事,又捅了哪些 "马蜂窝"。 豆粕基本面如何呢? 以下文章来源于大宗商品价值投资俱乐部 ,作者秦风投资笔记 大宗商品价值投资俱乐部 . 专注于大宗商品的投研与交易! 文 | 秦风投资笔记 来源 | 大宗商品价值投资俱乐部 编辑 | 杨兰 审核 | 浦电路交易员 最近,阿根廷总统发言人突然宣布:"到 10 月 31 号前,所有油籽、谷物出口都不收税了!" 作为南美农业大国,阿根廷这么干可不是单纯为了帮农民,而 是经济团队在赌一把 —— 用免税换外汇。 国内进口大豆到港量9月维持高位,油厂豆粕库存9月进入偏高位,美豆天气和中美贸易谈判进入关键期,9月美农报影响相对中性,豆粕短 期回归区间震荡格局。 现在国内的压榨量还是高位,国内是不缺少豆子的,要不然也不会一点美豆都没有买了。 | | | | 进口大豆月度到港量 | | 时间 | 全国20 | ...
一文看懂烘焙用糖!你以为糖只是增加甜味?万字长文深度解析糖的作用!
东京烘焙职业人· 2025-09-22 08:33
Core Viewpoint - The article emphasizes the critical role of sugar in baking, highlighting its multifaceted impact on texture, fermentation, moisture retention, and shelf life, while also addressing the challenges of reducing sugar in baked goods to meet health trends [2][3]. Summary by Sections Chapter 1: Application of Sugar in Baking - Sugar is the second most used ingredient in baked products after flour, influencing both physical and chemical properties of the products [8]. - Sugar enhances sweetness, aids fermentation by producing carbon dioxide and alcohol, and contributes to the browning and flavor of baked goods through caramelization and Maillard reactions [8][12]. Chapter 2: Scientific Classification and Basic Concepts of Sugar - The article categorizes sugars into various types, including monosaccharides, disaccharides, and polysaccharides, and discusses their unique properties and applications in baking [5][6]. Chapter 3: Natural and Synthetic Sugars - The distinction between natural and synthetic sugars is explored, with a focus on their respective roles in baking and food production [6]. Chapter 4: Polysaccharides - Polysaccharides are defined as complex carbohydrates made up of multiple monosaccharide units, with implications for their use in food products [5]. Chapter 5: Monosaccharides - Monosaccharides, such as glucose and fructose, are highlighted for their rapid absorption and energy provision in baking processes [84][88]. Sugar Types and Their Functions - **Granulated Sugar**: The most commonly used sugar in baking, essential for sweetness and fermentation [10][51]. - **Brown Sugar**: Contains molasses, providing a distinct flavor and moisture retention [54]. - **Powdered Sugar**: Used for icing and decoration, easily dissolves and adds sweetness [58]. - **Maltose**: A product of starch hydrolysis, important for fermentation and flavor enhancement [62][69]. - **Lactose**: Found in milk, contributes to sweetness and is used in various food products [73][79]. Sugar's Impact on Baking - Sugar affects dough properties, including water absorption and gluten formation, with higher sugar content requiring adjustments in water and mixing time [42][24]. - The Maillard reaction and caramelization during baking are influenced by sugar types and concentrations, affecting color and flavor [27][40]. Conclusion - The article concludes that understanding the diverse roles of sugar in baking is essential for developing products that meet consumer demands for taste and health [3][8].
冠通期货资讯早间报-20250922
Guan Tong Qi Huo· 2025-09-22 03:02
Report Summary 1. Overnight Night Market Trends - International precious metal futures generally rose, with COMEX gold futures up 1.12% at $3,719.4 per ounce and a weekly gain of 0.9%, and COMEX silver futures up 2.96% at $43.365 per ounce and a weekly gain of 1.25% [3] - International oil prices weakened, with the U.S. oil main contract down 1.42% at $62.36 per barrel and a weekly decline of 0.53%, and the Brent crude main contract down 1.3% at $66.05 per barrel and a weekly decline of 1.4% [4] - Most London base metals fell, with LME tin up 1.51% at $34,220 per ton and a weekly decline of 2.16%, LME copper up 0.57% at $9,996.50 per ton and a weekly decline of 0.71%, etc [4] - As of the close on September 19 at 23:00, domestic futures main contracts showed mixed results, with coking coal, iron ore, glass, and rapeseed meal up over 1%, and fuel oil, LPG, and low - sulfur fuel oil down over 1% [4] 2. Important News Macro News - The State Council executive meeting emphasized ecological protection and green development, and the Ministry of Commerce will promote the release of the automotive aftermarket consumption potential [7] - Fed's Kashkari said two more interest rate cuts this year are appropriate, and the State Council Information Office will hold a press conference on the "14th Five - Year Plan" achievements in the financial industry [7] - President Xi Jinping had a phone call with U.S. President Trump, and the U.S. Chief Justice asked Fed Governor Cook to respond to Trump's request [8] - Fed Governor Milan said gradually reaching the neutral interest rate at 50 - basis - point increments is reasonable [10] Energy and Chemical Futures - China's styrene factory output decreased by 2.03% week - on - week, and PVC production enterprise capacity utilization rates declined [12] - Russian oil product exports showed a significant decline in early September, and the EU plans to increase pressure on Russia's access to oil dollars [12][13] - U.S. President Trump called on European countries to stop buying Russian oil [14] Metal Futures - China has formed three lithium carbonate production process routes, and the Simandou iron ore project in Guinea has started the first - batch mining operations [17] - Citi expects the gold bull market to continue in the short term and forecasts Brent crude prices to decline [18] - Congo is considering extending the cobalt export ban, and the inventory of some metals in the domestic market changed last week [18][21] - India is considering establishing a strategic reserve mechanism for critical minerals [22] Black - Series Futures - Independent electric arc furnace construction steel mills are in a serious loss state and may continue to cut production [24] - Last week, the scale of construction steel mill overhauls increased, and Shanghai issued a pilot method for property tax on some personal housing [24] - The total inventory of construction steel in cities decreased by 0.58% week - on - week [25] Agricultural Product Futures - Malaysia has raised its October crude palm oil reference price, and there was news of domestic soybean oil exports to India [28] - India's sugar exports this year may be less than 800,000 tons, and the soybean crushing volume and开机率 of domestic oil mills are expected to change [28][29] - The profit of pig farming has declined, and Malaysia's palm oil exports from September 1 - 20 increased by 8.7% compared to the same period last month [29][30] 3. Financial Markets Finance - Since the implementation of the "9·24" package of policies, the A - share market has shown positive trends, with increased trading volume and new accounts [33] - Institutions have conducted intensive research on A - share companies, especially in "hard - tech" fields [33] - Goldman Sachs believes the current rally in the Chinese stock market is sustainable, and Fed's interest rate cut may drive foreign capital back to A - shares and Hong Kong stocks [34] - The average position of domestic stock private equity institutions has reached the highest level this year [36] - The number of brokerage analysts has exceeded 6,000 [37] Industry - The head of the National Data Bureau emphasized data investment in the manufacturing industry, and the government is promoting the formulation of pre - prepared food national standards [38] - China has completed the "14th Five - Year Plan" goal for pumped - storage power stations, and the power spot market has shown a guiding role in new energy consumption [40] - The operating data of some private banks showed mixed results, and China's civil aviation transport scale reached a new high in August [40][41] - The medical logistics cost in China in the first half of 2025 exceeded 50 billion yuan, and the Sanya government issued a policy on affordable rental housing [41] - The International Low - Altitude Economy Expo will be held in 2026, and Shanxi's coalbed methane production reached a record high in the first 8 months [42][43] Overseas - South Korea and the U.S. have differences in the $350 billion investment issue, and Wall Street is betting on faster and larger interest rate cuts by the Fed [45] - India and the U.S. are seeking a "mutual - benefit" trade agreement, and Argentina is negotiating to avoid a debt crisis [45] - Australia, Canada, and the UK recognized the State of Palestine [46] International Stock Markets - Musk's social platform X's revenue in Q2 2025 dropped by 40% compared to 2022, and it is accelerating its transformation into the AI field [47] Commodities - The Shanghai Futures Exchange launched new trading businesses for international copper and alumina standard warehouse receipts [49] - If Congo extends the cobalt export ban, the cobalt price may rise sharply in the short term [49] - The Oseberg oil field in Norway had an unplanned shutdown, and Iraq increased oil exports [50] Bonds - Many banks have redeemed "Tier 2 and Perpetual Bonds", and the issuance scale of special new special bonds for "repaying local government arrears to enterprises" has exceeded 1.2 trillion yuan [51] 4. Upcoming Economic Data and Events - Economic data to be released include China's September LPR, China Hong Kong's August CPI, etc [54] - Events include the Australian Reserve Bank Governor's testimony, a press conference on the financial industry's "14th Five - Year Plan" achievements, etc [56]
【环球财经】巴西寻求扩大与阿拉伯国家贸易
Xin Hua Cai Jing· 2025-09-21 02:50
Core Points - The Brazilian government aims to strengthen trade relations with Arab countries in agriculture and livestock, increasing the variety of export products [1] - Brazil's Agriculture and Livestock Minister Carlos Favaro highlighted the desire to import more key materials, primarily fertilizers, from Arab nations while also being open to purchasing other goods of interest from them [1] - Brazil is a leading exporter of halal products globally and is one of the largest exporters of halal food [1] Export Focus - The main agricultural products exported by Brazil to Arab countries include poultry, beef, sugar, corn, and honey [1] - Brazil has facilitated exports of live fertilized eggs to Saudi Arabia, Brazilian berries to Egypt, and coffee and orange juice to the UAE [1] Strategic Goals - Favaro's statements align with Brazil's strategy to diversify markets and reduce dependence on certain trade partners [1] - Brazil is actively working to "open markets, expand business relationships, and create records," with a focus on importing fertilizers and expanding the types of export products [1]