Report Summary 1) Report Industry Investment Rating - No industry investment rating is provided in the given report 2) Core View of the Report - Since August, the Apple 10 contract has risen for multiple consecutive trading days, with the AP2510 contract up 1.27% as of the 11th. The quality differentiation of early - maturing apples has led to concerns about the quality of deliverable Fuji apples. The market is in a state where long and short factors are intertwined, and the futures market shows a volatile pattern [3] 3) Summary by Related Content Apple Futures Market Performance - The Apple 10 contract has been rising for multiple consecutive trading days in August, and the AP2510 contract had a 1.27% increase as of August 11th [3] Situation of Early - Maturing Apples - In the western producing areas, the early - maturing Gala apples have been gradually listed. Due to high - temperature weather, there are problems such as difficult coloring, and the large - scale listing time is expected to be delayed compared with previous years. In the Shandong producing area, the current supply of Luli apples is average, and the trading price is stable. Some early - maturing apple varieties in Shandong and high - quality paper - bagged Gala apples in Shaanxi have higher listing prices than last year. However, due to climate factors, the proportion of high - quality apples has decreased, and the mainstream price has shown a downward trend after the high - price start [3] Forecast of New - Season Apple Yield and Price - The preliminary estimate of the new - season apple yield shows a limited reduction. The reference range for the opening price is 3.2 - 3.5 yuan per catty (equivalent to 7,500 - 8,500 yuan per ton). Under normal climate conditions in major producing areas, the spot price has a bottom support, but the upside is limited [3]

Group 1: Report General Information - Report writing variety: Apple [1] - Writing time: May 30, 2025 [1] - Review cycle: Daily report [1] - Researcher: Qi Jianhua [1] - Consulting license number: Z0017731 [1] Group 2: Futures Market Review - Apple futures slightly declined. The opening price of the main AP2510 contract was 7,640 yuan/ton, the highest price was 7,678 yuan/ton, the lowest price was 7,592 yuan/ton, and the closing price was 7,675 yuan/ton. The settlement price was 7,636 yuan/ton, down 17 yuan/ton from yesterday. The trading volume was 53,199 lots, a decrease of 9,306 lots from yesterday, and the open interest was 105,238 lots, a decrease of 1,615 lots from the previous day [5] Group 3: Spot Fundamental Situation Production Area Market - In Shandong Yiyuan production area on May 30, the middle - price of 70 general goods, 75 general goods, and sub - fruits in the apple warehouse remained unchanged compared to the previous period. The replenishment enthusiasm of merchants in the production area was okay, and the market transaction was stable. The new - season apples had good fruit - setting performance, and fruit farmers were in the large - scale bagging stage. In Shaanxi Baishui production area, the warehouse inventory was finished, and the new - season apples also entered the large - scale bagging stage [6][7] Sales Area Market - The number of apple trucks arriving at the Guangdong wholesale market increased compared to yesterday. The actual transaction price in the market was based on quality. Recently, the number of trucks arriving at the market decreased. With the hot weather, the impact of seasonal fruits was obvious, the apple sales were average, and secondary and tertiary wholesalers purchased on demand with little backlog in the transfer warehouse [7] Group 4: Important Data Tracking - The report provided the mainstream transaction middle - prices of late Fuji apples of different regions, diameters, and grades on May 30, with a note that some grades might differ slightly from actual goods, and the actual price was subject to the quality of the spot [8][10] Group 5: Market Outlook - Currently, due to the hot weather, the listing of melons had an obvious impact on the apple market, and the apple sales were average. On the futures market, the price of the 2510 contract was supported by the 5 - day moving average, continuing the rebound trend of the previous trading day with a strong intraday performance. In the short term, the rebound of apple futures prices might be limited, and the prices would mainly show a wide - range low - level oscillating trend [11][12]