Currently, the global geopolitical situation is tumultuous, with the Middle East conflict continuing to escalate, directly impacting international crude oil supply and exposing major economies' high dependence and vulnerability to key resource imports. As &#34;the mother of industry,&#34; the rising price of crude oil will be transmitted to the agricultural system through a long industrial chain with a lag. However, the valuations of food industry-related sectors, such as agricultural chemical products, have not yet shown significant expansion. As the overall market valuation has entered an upward range, the cost-effectiveness of the food industry sector is gradually becoming apparent.
To efficiently seize this opportunity, China Asset Management officially launched the ChinaAMC CNI Grain Industry Exchange-Traded Fund (ETF) today (on-market abbreviation: Grain ETF China; subscription code: 159030), providing the market with investment opportunities related to the food industry chain.
Focusing on the CNI Grain Index, depicting the core links of the industry chain
The Grain ETF China tracks the CNI Grain Industry Index (code: 399365). This index aims to comprehensively reflect the overall situation of the food industry, covering key areas such as agricultural input products (seeds, fertilizers, pesticides, agricultural machinery), grain planting, farmland irrigation, grain and oil processing, and product trade.
In terms of compilation rules, the index prioritizes the selection of securities from the seed and grain planting sectors, with the remaining samples selected in descending order of total market capitalization until the sample reaches 50, ensuring the index's representativeness of the core links in the industry chain. From an industry distribution perspective, agriculture, forestry, animal husbandry, and fishery account for 66.52% of the Shenwan first-level industries, while basic chemicals account for 25.13%; within the Shenwan third-level industries, seeds (26.02%), grain planting (11.07%), and livestock feed (10.13%) are the top three weights. The top ten constituent stocks include industry leaders such as Dabeinong, Longping High-Tech, and Beidahuang, effectively covering key steps in the upstream and midstream of the food industry chain (data source: ifind; as of March 31, 2026).
Multiple driving forces resonate, bringing systemic benefits to the food sector
Currently, the food industry is facing positive resonance from multiple factors, including cycles, geopolitics, energy, technology, and policy.
First, food prices are at the bottom of the cycle, with strong recovery expectations. Since the Russia-Ukraine conflict in the first half of 2022 pushed up food prices, international food futures have experienced nearly two and a half years of correction and are currently hovering at the bottom. Domestic prices for corn and other grains have stabilized and rebounded but remain at low levels compared to recent years. Historically, the stock price performance of the planting industry chain is highly correlated with food prices, and the cyclical recovery of food prices will directly drive the prosperity of the industry chain.
Second, geopolitical conflicts have raised the risk premium for food prices. Recent conflicts between the U.S. and Iran have disrupted shipping in the Strait of Hormuz, posing a risk of interruption to about 1/4 of global oil and gas trade. This impact systematically raises the risk premium for food prices through three pathways: &#34;energy supply shock + rising agricultural input prices + supply chain disruptions.&#34; Additionally, the Strait is also a crucial export channel for key agricultural inputs such as fertilizers and polyethylene, and supply disruptions further intensify the upward pressure on agricultural costs
Third, high energy prices are driving both the cost and demand for grain prices to rise. Crude oil and agricultural product prices are strongly correlated. On one hand, rising oil prices increase the costs of agricultural machinery, fertilizers, and logistics, which ultimately translates to higher food prices; on the other hand, about 35%-40% of corn in the United States is used for ethanol production, and high oil prices will enhance the economics of biofuels, thereby boosting grain demand.
Fourth, global food supply and demand are tightening, with weather disturbances exacerbating supply concerns. According to USDA data, the global grain ending stocks-to-use ratio for the 2025 to 2026 period is 27.62%, down about 3 percentage points from the 2022 to 2023 period, indicating a continuous weakening of inventory buffer capacity. Meanwhile, the drought area in the U.S. winter wheat region continues to expand, and if the drought is not alleviated, it will directly affect yield expectations.
Fifth, seed industry technology is driving an increase in food self-sufficiency rates, opening up growth space. China's food self-sufficiency rate has decreased from 94% in 2000 to 61% in 2024, highlighting the pressure on food security. Biotechnology breeding technology is expected to contribute a 9 percentage point increase in self-sufficiency, helping to achieve a long-term safety target of 95%. Currently, China's corn and soybean yields are only 59% and 53% of those in the United States, respectively, indicating significant potential for improvement. As the country continues to promote the industrialization of biotechnology breeding, the seed industry will face dual opportunities for both volume and price increases as well as enhanced concentration.
Strong team support, Huaxia Fund launches another ETF masterpiece
As a pioneer and leader in the domestic ETF field, Huaxia Fund's equity ETF management scale has surpassed one trillion yuan, maintaining the industry's top position for 21 consecutive years and winning the &#34;Passive Investment Golden Bull Fund Company&#34; award for eight consecutive years. The company has a professional index research team of 43 people, with core members averaging over 12 years of industry experience, continuously empowering index business through active quantitative capabilities.
The proposed fund manager for the grain ETF at Huaxia is Lu Yayun, who has extensive experience in index research and investment, providing solid assurance for the smooth operation of the product.
In summary, against the backdrop of ongoing geopolitical conflicts, tightening global food supply and demand, domestic grain prices being at a cyclical low, and the accelerated industrialization of seed technology, the issuance of the grain ETF by Huaxia is timely. This product not only provides a low-cost, high-efficiency tool for focusing on the grain industry chain but also captures the grain price recovery cycle and the main line of seed industry growth.
Risk Warning: Past performance and net asset value of the fund do not indicate future performance. The performance of other funds managed by the fund manager does not guarantee the performance of this fund. Historical index performance does not represent the performance of fund products. The fund manager commits to managing and utilizing fund assets with principles of honesty, credit, diligence, and responsibility, but does not guarantee that this fund will be profitable or provide minimum returns. This material does not constitute any legal document, and the views are for reference only. All information or opinions expressed in the material do not constitute final operational advice on investment, legal, accounting, or tax matters, and our company does not guarantee any final operational advice based on the content of this material. Under no circumstances shall our company be liable for any losses incurred by any person due to the use of any content in this material
The fund manager reminds investors of the principle of &#34;buyer bears their own risk&#34; in fund investments. After investors make investment decisions, the investment risks arising from the fund's operating conditions, fluctuations in the trading price of fund shares, and changes in the fund's net value are the responsibility of the investors themselves. Before investing in this fund, investors should carefully read the fund's legal documents such as the &#34;Fund Contract,&#34; &#34;Prospectus,&#34; and &#34;Product Summary,&#34; fully understand the risk-return characteristics and product features of this fund, seriously consider the various risk factors associated with this fund, and take into account their own risk tolerance based on factors such as investment objectives, investment duration, investment experience, and asset status. Investors should make rational judgments and cautiously make investment decisions based on an understanding of the product and the appropriateness of sales opinions, and independently bear the investment risks. The products recommended in this material are issued and managed by China Asset Management Co., Ltd., and the distribution institutions do not bear the responsibilities for investment, redemption, and risk management of the products. The market has risks, and investors should proceed with caution.
The management fee rate for the Grain ETF ChinaAMC (159030) is 0.15%, and the custody fee rate is 0.05%. When investors subscribe to this fund, a subscription fee of 0.30% is charged for shares less than 1 million, and a subscription fee of 1,000 yuan per transaction is charged for shares equal to or greater than 1 million. The fund manager does not charge subscription fees for offline cash subscriptions. The sales agency may charge certain subscription fees/commissions based on the above fee structure when handling online cash subscriptions and offline cash subscriptions. The subscription and redemption agency may charge a commission not exceeding 0.3%, which includes relevant fees charged by securities exchanges, registration and settlement institutions, etc.; on-market transaction fees are subject to the actual charges by the securities company

159030

The current global geopolitical situation is turbulent, affecting international crude oil supply and exposing economies' dependence on resources. ChinaAMC is issuing a grain ETF, focusing on investments in the grain industry chain, tracking the National Grain Industry Index, which covers key areas such as seeds and grain planting. The grain industry faces multiple favorable factors including cycles, geopolitics, and energy, with grain prices at the bottom and strong expectations for recovery

腾讯新闻 - 财经

ChinaAMC CNI Grain Industry ETF

Geopolitical disturbances highlight the value of food security, and the ChinaAMC CNI Grain Industry ETF seizes both cyclical and growth opportunities