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【品种策略】棉花：08月26日多家期货公司晨报观点汇总_我的网站

一 |     棉花机构观点汇总期货公司方向核心逻辑南华期货震荡下游消费偏弱、纱线高库存及储备棉持续轮出压制棉价，但美印产区天气风险提供支撑，短期多空交织。    (ECNS) -- China’s railways handled a record 2.8 billion passenger trips in the first seven months of 2026, up 4.1% from a year earlier, China State Railway Group Co., Ltd. said Saturday.    The national railway network operated an average of 11,462 passenger trains each day, 571 more than a year earlier, up 5.2%, according to the group.    Cross-border rail travel also grew. The Guangzhou-Shenzhen-Hong Kong high-speed railway handled 20.05 million cross-border passenger trips, up 11.5%, while the China-Laos Railway recorded 214,000, up 38.2%.    Railway trips by foreign nationals across China totaled 14.85 million, up 32.5% from a year earlier amid increased travel under the country's transit visa-free policy.    (By Intern Yang Hongran, Zhang Dongfang)                    。

二 | 国都期货震荡美棉减产及天气忧虑支撑棉价，但内需疲弱、出口承压，高位推涨动力不足，建议逢高减持正信期货研究院震荡美棉降雨改善、油价下跌及关税传言压制盘面；国内需求偏弱、进口增加，但库存去化、新棉减产预期提供支撑，棉价高位调整。光大期货震荡棉花单产高于预期、天气影响有限，短期支撑减弱；但美棉干旱及...。

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