Core Viewpoint - The red date futures market is experiencing an upward trend, with current prices and production conditions drawing attention for the upcoming season [1] Futures Market Summary - As of June 27, the closing price for the red date 2509 contract is 9,620 yuan/ton, reflecting an increase of 285 yuan/ton, or 3.05% [1] - The red date 2509 contract has shown a continuous rebound over the past four weeks since early June, despite entering the off-season [1] Spot Market Summary - The purchase price for Xinjiang gray dates for the 2024 production season ranges from 4.50 to 5.50 yuan/kg, with an average price of 5.33 yuan/kg [1] - The spot price for Hebei first-grade gray dates is 8,350 yuan/ton, up by 50 yuan/ton, while the spot basis CJ09 is down by 235 [1] - The physical inventory in Hebei's Cui'erzhuang market is 10,688 tons, an increase of 8 tons from the previous week [1] Production Conditions Summary - The main production areas in Xinjiang are experiencing temperatures between 20 to 38 degrees Celsius, with high temperatures and wind affecting the first round of flowering and fruit setting [1] - Concerns are raised regarding the second round of fruit setting and weather conditions, with clarity expected in mid to late July [1] - The 2024 production season is anticipated to have a large yield, but there are concerns about the health of the date trees, which may lead to increased risks in new season growth [1] Market Dynamics Summary - The market is currently in a traditional off-season with high total inventory levels, leading to weak demand for supplementary products [1] - The Zhengzhou Commodity Exchange has lowered the trading margin and price fluctuation limits for red date futures to enhance market activity [1] - The strategy is deemed neutral, with caution advised for bullish positions due to high inventory and seasonal consumption patterns [1]

Group 1: Apple 1. Report Industry Investment Rating - The investment strategy for apples is to be bullish in a volatile market [5] 2. Core View - The current apple market is in the traditional sales peak season, with improved terminal consumption of late - Fuji apples. The inventory is at a five - year low, and the de - stocking pressure is small, so it is expected that this week's transactions will remain smooth and prices will be firm with a slight upward trend. However, since apples are non - essential goods, a sharp price increase in the sales area will suppress demand and slow down the price increase. New - season apples are in the flowering period, and some产区 have suffered frost damage, with a certain expected reduction in production. Weather factors still have a great impact on the production forecast, and short - term prices of futures and spot are expected to be positive [4] 3. Summary by Relevant Catalog Market News and Key Data - Futures: The closing price of the apple 2510 contract yesterday was 7,922 yuan/ton, a change of +248 yuan/ton from the previous day, an increase of +3.23%. Spot: The price of 80 first - and second - grade late - Fuji apples in Shandong Qixia was 4.05 yuan/jin, unchanged from the previous day; the price of 70 and above semi - commercial late - Fuji apples in Shaanxi Luochuan was 4.30 yuan/jin, also unchanged from the previous day. The spot basis of Shandong Qixia was AP10 + 178, a change of - 248 from the previous day; the spot basis of Shaanxi Luochuan was AP10 + 678, also a change of - 248 from the previous day [2] Market Analysis - In the production areas, the in - warehouse transactions are active, the overall shipment is smooth, and the prices are generally stable. In the western production areas, the transactions of merchants' goods are smooth, and the prices are slightly firm. In the Shandong production area, the number of merchants looking for goods has increased, and the transactions are mainly low - priced goods. In the sales areas, the number of incoming trucks is normal, and the overall shipment is okay. The current inventory is at a five - year low, with little de - stocking pressure. New - season apples are in the flowering period, and some areas in Gansu and northern Shaanxi have suffered frost damage, with a certain expected reduction in production. The futures and spot prices are expected to be positive in the short term. This week, attention should be paid to factors such as the continuity of merchants' replenishment, the shipment in the sales area, farmers' selling mentality, new - season flower quantity, and weather changes [3][4] Group 2: Red Dates 1. Report Industry Investment Rating - The investment strategy for red dates is neutral [8] 2. Core View - The red date market is currently in a state where the supply of goods in the sales area is sufficient, and merchants purchase on demand. With the increase in temperature, the demand for warehousing has increased significantly, and the cold - storage capacity is tight. The 2024 red date harvest exceeded expectations, and the market has no significant differences in the fundamentals of red dates. Currently, both futures and spot prices are at historical lows, and the consumption off - season will last until September. The cost of red date warehouse receipts provides some support, and the downside space is limited. The market will focus on the growth of new - season red dates, and short - term prices are expected to be volatile [7] 3. Summary by Relevant Catalog Market News and Key Data - Futures: The closing price of the red date 2509 contract yesterday was 9,440 yuan/ton, a change of - 10 yuan/ton from the previous day, a decrease of - 0.11%. Spot: The price of first - grade grey jujubes in Hebei was 8.30 yuan/kg, unchanged from the previous day. The spot basis was CJ09 - 1140, a change of +10 from the previous day [5][6] Market Analysis - In the Xinjiang main production area of grey jujubes, the jujube trees have sporadically entered the budding stage, and jujube farmers are actively managing the fields. In the Hebei Cuierzhuang market, there are more than a dozen trucks of incoming goods, and the market supply is sufficient. In the Guangdong Ruyifang market, there are 2 trucks of incoming goods, and the mainstream prices are stable. The red date futures closed slightly lower yesterday. In the short term, prices are expected to remain stable. The market will focus on the impact of weather changes on the growth of new - season red dates [6][7]