粮食价格平稳 大米(一级长粒)平均价格为3.30元(每500克，下同)，与上周持平，较上月同期上涨0.92%，较去年同期 上涨0.30%；面粉(特一粉)平均价格为2.34元，与上周持平，较上月同期下跌0.43%，较去年同期下跌 3.31%；小麦(中等)平均价格为1.21元，与上周持平，较上月同期上涨0.83%，较去年同期下跌0.82%； 玉米(中等)平均价格为1.10元，与上周持平，较上月同期下跌1.79%，较去年同期上涨1.85%。 部分油料价格小幅波动 中国发展网讯本周青岛市部分油料价格小幅波动，鸡蛋价格平稳，生猪、蔬菜批发价格小幅回落。 从零售市场情况看，所监测市内农贸市场19个蔬菜品种平均零售价格为4.75元，与上周价格持平，较上 月同期上涨6.03%，较去年同期上涨13.37%。从具体情况看，19个蔬菜品种价格6涨7跌6平，其中白 菜、油菜、西红柿、青椒、冬瓜、大头菜价格上涨；黄瓜、芸豆、芹菜、韭菜、大葱、菜花、茭瓜价格 下跌；茄子、圆葱、萝卜、蒜薹、土豆、胡萝卜价格持平。(青岛市价格认证和监测中心宋佳何向东) 鸡蛋平均价格为3.47元，与上周持平，较上月同期下跌2.02%，较去年同期下跌30.46 ...

Price Fluctuations in Qingdao - Grain prices experienced slight fluctuations, with rice prices increasing while flour and wheat prices decreased [2][4] - Oil prices showed a slight decline, with peanut oil and soybean oil prices remaining stable compared to previous weeks [3] - Pork prices saw a narrowing increase, with average prices down significantly compared to last year [4] Specific Price Changes - Average price of rice (first-grade long grain) is 3.31 yuan per 500 grams, up 0.78% week-on-week and 1.85% month-on-month [2] - Average price of flour (special grade) is 2.33 yuan, down 0.85% week-on-week and year-on-year down 3.32% [2] - Average price of corn is 1.10 yuan, down 0.90% week-on-week but up 3.34% year-on-year [2] Livestock and Egg Prices - Average price of live pigs is 6.26 yuan, up 1.62% week-on-week but down 28.25% year-on-year [4] - Average price of eggs is 3.39 yuan, down 2.22% week-on-week and 34.21% year-on-year [5] Vegetable Price Trends - Average wholesale price of vegetables is 2.82 yuan, down 0.70% week-on-week and 1.87% year-on-year [6] - Average retail price of vegetables in monitored markets is 4.74 yuan, down 0.62% week-on-week but up 10.75% month-on-month [6]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - In November, the macro environment enters a vacuum period, and major asset classes lack further positive drivers. The market needs to digest previous gains, so major assets may enter a short - term shock period. However, the overall allocation strategy for the fourth quarter remains unchanged, and the macro environment is still favorable for risk assets. It is recommended that investors allocate major asset classes evenly in the fourth quarter, hold long positions in stock indices, non - ferrous metals (copper, lithium carbonate, aluminum, tin), and precious metals, and increase positions appropriately if there is a correction in the fourth quarter [8]. 3. Summary by Sections 2.1 Macro Highlights - **Overseas Macro**: This week, the global macro focus is on changes in US dollar liquidity. Although there is a short - term tightening trend, it is not expected to have a significant impact on major asset prices. There are two factors that may improve US dollar liquidity: marginal easing of monetary policy and the normal release of funds in the TGA account once the US government resumes work [8]. - **Domestic Macro**: In October, China's export volume growth was weaker than expected and the previous value, and the month - on - month performance was also weaker than the seasonal average. However, more positive information was found in the October inflation data. Additionally, there is a possibility that the October consumption data may slightly exceed expectations [8]. 2.2 View Highlights Financial - **Stock Index Futures**: Driven by technology events, the growth style is active. With the congestion of small - cap funds, it is expected to fluctuate and rise [9]. - **Stock Index Options**: The overall market trading volume has slightly declined. With the option market liquidity falling short of expectations, it is expected to fluctuate [9]. - **Treasury Bond Futures**: The bond market continues to be weak. Considering factors such as policy, fundamental recovery, and tariffs, it is expected to fluctuate [9]. Precious Metals - **Gold/Silver**: With the easing of geopolitical and trade tensions, precious metals are in a phased adjustment. Affected by the US fundamentals, Fed's monetary policy, and global equity market trends, it is expected to fluctuate [9]. Shipping - **Container Shipping to Europe**: As the peak season in the third quarter fades, there is pressure on loading and a lack of upward drivers. Pay attention to the rate of freight decline in September, and it is expected to fluctuate [9]. Black Building Materials - **Steel**: In the off - season, demand is under pressure, and the futures price has fallen from a high level. Pay attention to the progress of special bond issuance, steel exports, and molten iron production, and it is expected to fluctuate [9]. - **Iron Ore**: The pressure of inventory accumulation is released in advance, and the supply - demand relationship is expected to improve. Affected by overseas mine production and shipment, domestic molten iron production, weather, port inventory, and policy, it is expected to fluctuate [9]. - **Coke**: Three rounds of price increases have been implemented, and a fourth round is proposed. Pay attention to steel mill production, coking costs, and macro sentiment, and it is expected to fluctuate [9]. Non - ferrous Metals and New Materials - **Copper**: Due to the tight US dollar liquidity, the copper price is in a short - term adjustment. Affected by supply disruptions, domestic policies, Fed's policy, and domestic demand, it is expected to fluctuate [9]. - **Aluminum**: With the linkage between stocks and futures, the aluminum price is expected to fluctuate and rise. However, it is affected by macro risks, supply disruptions, and demand [9]. - **Lithium Carbonate**: The resumption of production is uncertain, and there is a risk of significant price fluctuations. Affected by demand, supply, and new technologies, it is expected to fluctuate [9]. Energy and Chemicals - **Crude Oil**: Supply pressure persists, and geopolitical risks remain. Affected by OPEC+ production policies and the Middle East geopolitical situation, it is expected to fluctuate [11]. - **LPG**: Supply is still in surplus. Pay attention to the cost side, such as crude oil and overseas propane, and it is expected to fluctuate [11]. - **Low - Sulfur Fuel Oil**: With the strength of refined oil products, it may run strongly. Affected by crude oil prices, it is expected to fluctuate and rise [11]. Agriculture - **Pig**: There is a game between supply and demand, and the pig price is expected to fluctuate and fall. Affected by breeding sentiment, epidemics, and policies [11]. - **Natural Rubber**: The futures price rebounds strongly, and its sustainability needs attention. Affected by production area weather, raw material prices, and macro changes, it is expected to fluctuate and fall [11]. - **Cotton**: The price fluctuation range is limited. Affected by demand and inventory, it is expected to fluctuate [11].

Grain Prices - Grain prices remain stable, with average prices for various grains showing slight fluctuations. For instance, the average price of long-grain rice is 3.26 yuan per 500 grams, up 0.31% from last week but down 0.61% from last month and 2.27% from last year [2] - Wheat and corn prices are stable, with wheat at 1.18 yuan and corn at 1.19 yuan, both unchanged from last week [2] Edible Oil and Oilseed Prices - The prices of edible oils are stable, with 5-liter bottled peanut oil averaging 133.10 yuan, unchanged from last week and last month, but down 2.02% from last year [3] - Soybean prices remain stable at 4.34 yuan, while peanut prices have increased by 0.40% from last month to 7.46 yuan [3] Pork Prices - The average price of live pigs is 7.07 yuan, down 0.18% from last week and 33.09% from last year, indicating a narrowing decline [4] - Prices for various pork cuts, such as five-spice meat and lean meat, remain stable compared to last week, with five-spice meat at 15.50 yuan and lean meat at 15.70 yuan [4] Egg Prices - Egg prices have seen a slight rebound, with an average price of 3.73 yuan, up 3.65% from last week and 3.08% from last month, although down 32.07% from last year [5] Vegetable Prices - Vegetable prices continue to rise, with average wholesale prices at 2.60 yuan, up 7.93% from last week and 24.86% from last month, but down 12.46% from last year [6] - Retail prices for vegetables have also increased, averaging 3.89 yuan, up 3.73% from last week and 3.46% from last month [6]

Core Insights - In July, the prices of consumer goods in large supermarkets in Dezhou, Shandong Province showed a slight upward trend, with an overall increase of 0.23% compared to the previous month [1][2] Price Monitoring Summary - Among the 55 monitored grain and oil products, 18 items saw an average price increase, 19 items decreased, and 18 items remained stable [1] - The price changes for 34 items were within 2%, accounting for 61.82% of the monitored products [1] - Prices for aquatic products decreased slightly, while vegetable prices continued to rise [2] Specific Price Changes - **Grains and Oils**: - Millet: 5.23 yuan (up 0.19%) - Peanut: 7.39 yuan (up 3.21%) - Soybean: 4.24 yuan (up 0.71%) - Other staples like flour, noodles, and rice remained stable [1] - **Meat and Eggs**: - Pork: 15.25 yuan (up 0.26%) - Fresh beef: 34.95 yuan (up 0.87%) - Fresh lamb: 41.04 yuan (down 0.12%) - Chicken: 7.76 yuan (down 4.08%) - Eggs: 3.02 yuan (down 0.33%) [1] - **Aquatic Products**: - Prices for various fish and shrimp showed slight declines, with prices for mackerel remaining stable [2] - **Vegetables**: - The average price of 17 monitored vegetable varieties was 3.03 yuan (up 5.21%), with significant increases in items like cabbage and garlic [2] - **Fruits**: - The average price of 5 monitored fruits was 4.27 yuan (down 3.17%), with notable decreases in bananas and watermelons [2]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Overseas macro: Market concerns about US employment and economic slowdown are rising, leading to an increase in expectations for Fed rate cuts in the second half of the year, which is favorable for gold. In the long term, the weak US dollar pattern continues, and attention should be paid to non - US dollar assets [5]. - Domestic macro: In the context of stable and progressive domestic economic operation in the first half of the year, the overall tone of the Politburo meeting in July is to improve the quality and speed of using existing policies, with relatively limited incremental policies. The composite PMI in July remains above the critical point [5]. - Asset viewpoints: For domestic assets, there are mainly structural opportunities. In the second half of the year, the policy - driven logic is strengthened, and the probability of incremental policy implementation is higher in the fourth quarter [5]. 3. Summary by Related Catalogs 3.1 Financial Market and Commodity Price Changes - **Equity Index Futures**: The CSI 300 futures closed at 4029.6, down 0.68% daily, 2.10% weekly, 0.68% monthly, up 7.77% quarterly, and 2.77% year - to - date. The Shanghai 50 futures and the CSI 500 futures also showed different degrees of decline, while the CSI 1000 futures rose 0.07% daily [3]. - **Treasury Bond Futures**: The 2 - year, 5 - year, 10 - year, and 30 - year treasury bond futures had different price changes, with the 10 - year treasury bond futures down 0.05% daily [3]. - **Foreign Exchange**: The US dollar index was at 98.69, down 1.36% daily, 1.04% weekly. The US dollar intermediate price had a 2 - pip daily increase [3]. - **Interest Rates**: The 10 - year Chinese government bond yield was 1.71, up 0.2 bp daily. The 10 - year US government bond yield was 4.23, down 14 bp daily [3]. - **Commodities**: In the domestic commodity market, coal rose 1.93% daily, while industrial silicon fell 2.97% daily. In the overseas commodity market, NYMEX WTI crude oil was at 67.26, down 3.03% daily [3]. 3.2 Macro Analysis - **Overseas Macro**: In the first half of the week, market bets on Fed rate cuts declined due to better - than - expected Q2 GDP, tariff easing, and hawkish signals from the Fed's July meeting. However, the July non - farm payrolls were below expectations, increasing market concerns about the US economic downturn and Fed rate cuts. Key events to watch include US inflation data in August, the Jackson Hole meeting, and subsequent non - farm payrolls [5]. - **Domestic Macro**: After the Politburo meeting in July, the overall policy tone focuses on using existing policies more effectively, with relatively few incremental policies. The composite PMI in July remains above the critical point, and attention should be paid to the progress of economic negotiations between the US and other economies [5]. 3.3 Asset Views - **Domestic Assets**: There are mainly structural opportunities. Policy - driven logic will be strengthened in the second half of the year, and the probability of incremental policy implementation is higher in the fourth quarter [5]. - **Overseas Assets**: Market concerns about US employment and economic slowdown are rising, increasing expectations for Fed rate cuts in the second half of the year, which is favorable for gold. In the long term, the weak US dollar pattern continues, and attention should be paid to non - US dollar assets [5]. 3.4 Sector and Variety Analysis - **Financial Sector**: Stock index futures are expected to rise in a volatile manner, stock index options will be volatile, and treasury bond futures will also be in a volatile state [6]. - **Precious Metals Sector**: Gold and silver are in a short - term adjustment phase and are expected to be volatile [6]. - **Shipping Sector**: The container shipping to Europe route is in a state of game between peak - season expectations and price - rise implementation, and is expected to be volatile [6]. - **Black Building Materials Sector**: Most varieties such as steel, iron ore, and coke are expected to be volatile, with their fundamentals and market sentiments changing [6]. - **Non - ferrous and New Materials Sector**: Most non - ferrous metal varieties are expected to be volatile, affected by factors such as supply disturbances and policy expectations [6]. - **Energy and Chemical Sector**: Crude oil supply is increasing, and domestic chemical products are expected to benefit from stable - growth expectations. Most varieties are expected to be volatile, while asphalt and high - sulfur and low - sulfur fuel oils are expected to decline [8]. - **Agricultural Sector**: Most agricultural products are expected to be volatile, affected by factors such as weather, trade policies, and supply - demand relationships [8].

Summary of Key Points Core Viewpoint - The prices of grains, edible oils, and livestock in Qingdao remain stable, with a slight decrease in pig prices and a continued rise in egg prices. Grain Prices - The average price of first-grade long-grain rice is 3.28 yuan per 500 grams, unchanged from last week, up 1.23% from last month, and down 1.71% year-on-year [2] - The average price of special-grade flour is 2.36 yuan, down 0.30% from last week, down 1.78% from last month, and down 0.72% year-on-year [2] - The average price of medium wheat is 1.18 yuan, unchanged from last week, down 0.84% from last month, and down 3.28% year-on-year [2] - The average price of medium corn is 1.19 yuan, unchanged from last week, up 0.85% from last month, and down 0.83% year-on-year [2] Edible Oil and Oilseed Prices - The average price of 5-liter bottled peanut oil is 133.10 yuan, stable compared to last week, down 0.08% from last month, and down 2.13% year-on-year [3] - The average price of 5-liter bottled soybean oil is 59.50 yuan, unchanged from last week, up 0.17% from last month, and down 2.46% year-on-year [3] - The average price of soybeans is 4.34 yuan, stable compared to last week, down 0.23% from last month, and down 2.91% year-on-year [3] - The average price of peanuts is 7.43 yuan, unchanged from last week, up 2.20% from last month, and up 0.41% year-on-year [3] Livestock Prices - The average price of live pigs is 7.30 yuan, down 1.39% from last week, up 0.51% from last month, and down 25.07% year-on-year [4] - The average price of pork belly is 15.60 yuan, stable compared to last week, up 2.25% from last month, and down 11.71% year-on-year [4] - The average price of lean pork is 15.85 yuan, down 0.09% from last week, up 2.07% from last month, and down 11.29% year-on-year [4] - The average price of beef is 37.40 yuan, down 0.15% from last week, down 1.06% from last month, and up 2.19% year-on-year [4] - The average price of lamb is 41.69 yuan, up 0.04% from last week, down 0.03% from last month, and down 4.54% year-on-year [4] Egg Prices - The average price of eggs is 3.82 yuan, up 5.52% from last week, up 10.13% from last month, and down 21.80% year-on-year [5] - The highest price for eggs this week is 4.10 yuan, and the lowest is 3.55 yuan [5] Vegetable Prices - The average wholesale price of vegetables in major markets is 2.09 yuan, unchanged from last week, up 2.20% from last month, and down 14.63% year-on-year [6] - The average retail price of 19 vegetable varieties is 3.75 yuan, down 0.27% from last week, up 8.70% from last month, and down 14.97% year-on-year [6] - Among the 19 vegetable varieties, 6 prices increased, 3 decreased, and 10 remained stable [6]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - For domestic assets, there are mainly structural opportunities, with the policy - driven logic strengthened. There is a higher probability of the implementation of incremental policies in the fourth quarter. Attention should be paid to the impact of the supply - side "anti - involution" policy on assets. Overseas, focus on the progress of tariff frictions and geopolitical risks. In the long - term, the weak US dollar pattern continues. Be vigilant against volatility spikes and pay attention to non - US dollar assets. Maintain a strategic allocation of resources such as gold [7]. 3. Summary by Relevant Catalogs 3.1 Macro Highlights Overseas Macro - The "reciprocal tariff" rates of the US on most economies have been released, with most rates (except for Japan and Malaysia) being lowered, reducing short - term tariff uncertainties. In May, the US wholesale sales monthly rate was - 0.3% (expected 0.2%, previous value revised from 0.1% to 0%), and the wholesale inventory monthly rate final value was - 0.3% (expected - 0.3%, previous value - 0.3%). In June, the 1 - year inflation expectation of the New York Fed was 3.0% (expected 3.1%, previous value 3.2%). In June, the new non - farm employment in the US was better than expected, but there were concerns in the employment market. On July 4th, the "Big and Beautiful" Act was implemented, which may have limited long - term boost to the US economy and will increase the US deficit by $3.3 trillion in the next 10 years [7]. Domestic Macro - In June, China's export volume rebounded slightly year - on - year to 5.8%, CPI rose 0.1% year - on - year, and PPI fell 3.6% year - on - year. The improvement in exports to the US was the main boost, and the "anti - involution" policy had a significant impact on some domestic - demand - oriented commodities. On July 1st, the Sixth Meeting of the Central Financial and Economic Commission proposed to "regulate the low - price and disorderly competition of enterprises in accordance with regulations and promote the orderly withdrawal of backward production capacity" [7]. Asset Views - Domestic assets present mainly structural opportunities, with the policy - driven logic strengthened. Pay attention to the impact of the supply - side "anti - involution" on assets. Overseas, focus on tariff frictions and geopolitical risks. In the long - term, the weak US dollar pattern continues. Be vigilant against volatility spikes and pay attention to non - US dollar assets. Maintain a strategic allocation of resources such as gold [7]. 3.2 Viewpoint Highlights Macro - Domestically, there may be moderate reserve requirement ratio cuts and interest rate cuts, and the fiscal end will implement established policies in the short term. Overseas, the inflation expectation structure flattens, the economic growth expectation improves, and the stagflation trading cools down [8]. Finance - The sentiment in the stock market rebounds, and the bond market maintains a volatile trend. Stock index futures continue a mild upward trend; stock index options remain cautious; the sentiment in the bond market for treasury bond futures weakens [8]. Precious Metals - The risk preference rises, and precious metals such as gold and silver continue to adjust [8]. Shipping - The sentiment in the shipping market falls. For the container shipping route to Europe, focus on the game between the peak - season expectation and the implementation of price increases [8]. Black Building Materials - Iron ore performs strongly, supporting the price center of the sector. Most varieties such as steel, iron ore, coke, and others are in a volatile state, with different influencing factors for each [8]. Non - ferrous Metals and New Materials - There is a game between reciprocal tariff negotiations and domestic policy stimulus expectations. Most non - ferrous metal varieties are in a volatile state, with some showing a downward trend, such as zinc and nickel [8]. Energy and Chemicals - OPEC+ over - expected production increase will drag down the energy and chemical sector to fluctuate weakly. Different chemical products have different short - term trends, such as some showing volatile rises, some showing volatile falls, and some remaining volatile [10]. Agriculture - In the agricultural sector, the prices of some products such as pigs are under pressure, and different agricultural products such as grains, oils, and livestock are in a volatile state, affected by various factors such as supply and demand, weather, and policies [10].

Group 1: Report Investment Rating - No information provided on the industry investment rating in the report Group 2: Core Views - For domestic assets, there are mainly structural opportunities, with the policy-driven logic strengthening. The probability of incremental domestic policies being implemented in the fourth quarter is higher. Overseas, attention should be paid to tariff frictions, geopolitical risks, etc. In the long run, the weak US dollar pattern continues. Strategic allocation to resources such as gold should be maintained [5] - The overseas stagflation trade has cooled down, and the long - short allocation thinking has diverged. In the domestic market, there may be moderate reserve requirement ratio and interest rate cuts, and the fiscal end will implement established policies in the short term. In the overseas market, the inflation expectation structure has flattened, the economic growth expectation has improved, and the stagflation trade has cooled down [7] Group 3: Summary by Directory 1. Macro Highlights - **Overseas Macro**: The June non - farm payrolls performance exceeded expectations, delaying the market's bet on the Fed's interest rate cut, and the US dollar index rebounded slightly. The implementation of the "Big and Beautiful" bill will increase the US deficit pressure. There are hidden concerns in the US employment market, and the bill will increase the US deficit by $3.3 trillion in the next 10 years [5] - **Domestic Macro**: The economic fundamentals have increased with resilience. The "anti - involution" policy has promoted the short - term rebound of commodities such as rebar, glass, and polysilicon. Domestic - demand - oriented commodities and those that have been falling since the beginning of the year have been greatly affected by the "anti - involution" policy [5] - **Asset Views**: Domestic assets mainly have structural opportunities, and the policy - driven logic is strengthened. Overseas, attention should be paid to tariff frictions and geopolitical risks. A long - term weak US dollar pattern continues, and non - US dollar assets should be focused on. Strategic allocation to gold and other resources should be maintained [5] 2. View Highlights - **Macro**: Domestic market may see moderate RRR and interest rate cuts, and fiscal policies will be implemented. Overseas, stagflation trade cools down. Stock index futures, index options, and treasury bond futures are expected to oscillate. Key points to watch include micro - cap stock stampedes, dollar liquidity deterioration, option liquidity, and unexpected changes in tariffs, supply, and monetary easing [7] - **Precious Metals**: With the recovery of risk appetite, precious metals are in short - term adjustment. Gold and silver are expected to oscillate, and key points to watch are Trump's tariff policy and the Fed's monetary policy [7] - **Shipping**: The sentiment has declined, and attention should be paid to the sustainability of the increase in the loading rate in June. The container shipping to Europe route is expected to oscillate, and key points to watch are tariff policies and shipping company pricing strategies [7] - **Black Building Materials**: Affected by domestic and foreign policies, the price fluctuations of the sector have increased. Products such as steel, iron ore, coke, coking coal, etc. are expected to oscillate, and key points to watch include special bond issuance progress, steel exports, iron ore production and shipment, etc. [7] - **Non - ferrous Metals and New Materials**: Amid the coexistence of low - inventory reality and weak demand expectations, non - ferrous metals continue to oscillate. Copper, aluminum, etc. are expected to oscillate, while zinc and nickel may oscillate downward [7] - **Energy and Chemicals**: Due to OPEC+ over - production, energy and chemicals are expected to oscillate weakly. Crude oil, LPG, asphalt, etc. may fall or oscillate downward, while some products like ethylene glycol and short - fiber are expected to oscillate upward [9] - **Agriculture**: Rubber stabilizes after a decline. Products such as grains, oils, and livestock are expected to oscillate, and key points to watch include weather, production and demand data, and market transactions [9]

Price Trends in Dezhou City - The prices of major consumer goods in Dezhou City showed a slight increase, with 19 out of 55 monitored items rising, 10 falling, and 26 remaining stable, resulting in an overall price increase of 0.23% compared to the previous week [1] - Agricultural production material prices remained stable, with 1 item rising, 5 falling, and 19 stable among the 25 monitored items [1] Specific Commodity Price Changes - Prices for millet and peanuts increased slightly, with millet at 5.23 yuan (up 0.77%) and peanuts at 7.26 yuan (up 0.69%) [1] - Egg prices rebounded, increasing by 4.79% to 3.06 yuan, while beef prices decreased by 1.15% to 34.37 yuan [1] Seafood and Vegetable Price Movements - Some seafood prices fluctuated, with crucian carp at 17.41 yuan (down 1.42%) and shrimp at 27.12 yuan (up 1.01%) [2] - Vegetable prices showed an upward trend, with 12 out of 17 monitored vegetable varieties increasing, leading to an overall average price of 3.07 yuan (up 3.02%) [2] Fruit and Agricultural Material Prices - Fruit prices varied, with an overall average of 4.32 yuan (up 0.23%), including apples at 6.84 yuan (up 1.33%) and bananas at 3.72 yuan (down 1.85%) [2] - Agricultural material prices showed slight fluctuations, with domestic urea averaging 1.88 yuan (down 1.45%) and domestic potassium chloride at 3.50 yuan (down 0.71%) [3]