银河期货花生日报-20250410

Group 1: Report Industry Investment Rating - Not provided in the content Group 2: Core Viewpoints of the Report - The short - term peanut price is relatively weak due to slightly higher production in 2024 than in 2023, weak downstream demand, and ample supply. The 05 peanut has limited upside potential, and the 10 peanut has more uncertainties as it trades on new crops. Currently, the peanut price is around 4.05 yuan per catty, and the peanut oil spot price is stable while peanut meal has been strong recently, with oil mills having theoretical profit in pressing [10]. Group 3: Summary by Relevant Catalogs First Part: Data - Futures Disk: PK504 closed at 8200, up 10 (0.12%), with a trading volume of 63 (-70.28%) and an open interest of 573 (-16.35%); PK510 closed at 8170, up 78 (0.95%), with a trading volume of 14,147 (10.85%) and an open interest of 32,940 (1.49%); PK601 closed at 8162, up 76 (0.93%), with a trading volume of 279 (-43.18%) and an open interest of 1,611 (8.34%) [3]. - Spot and Basis: Spot prices in Henan Nanyang, Shandong Jining, and Shandong Linyi were 8300, 8200, and 8200 respectively, unchanged. The basis for Henan Nanyang was 100, and 0 for Shandong Jining and Linyi. Import prices for Sudanese peanuts were 7800 and Senegalese peanuts were 7500, both unchanged. The price of Rizhao peanut meal was 3200, and Rizhao soybean meal was 3300. The price of peanut oil was 14500, and Rizhao first - grade soybean oil was 7940, up 100 [3]. - Spreads: PK01 - PK04 spread was - 38, up 66; PK04 - PK10 spread was 30, down 68; PK10 - PK01 spread was 8, up 2 [3]. Second Part: Market Analysis - Peanut prices in Henan and Northeast China were stable. In Northeast China, Jilin Fuyu 308 common peanuts were 4.1 yuan per catty, and Liaoning Changtu was 4.1 yuan per catty. In Henan, Baisha common peanuts were 4.05 - 4.2 yuan per catty, and Shandong Junan was 3.95 yuan per catty. Imported Sudanese refined peanuts were 8000 yuan per ton. Peanut oil mill purchase prices were stable, with mainstream transaction prices at 7400 - 7700 yuan per ton and the theoretical break - even price at 7850 yuan per ton. Peanut oil prices were stable, with domestic first - grade ordinary peanut oil at 14500 yuan per ton and small - pressed fragrant peanut oil at 16500 yuan per ton. Rizhao soybean meal spot price dropped to 3280 yuan per ton, down 20 yuan per ton, and 48 - protein peanut meal was quoted at 3200 yuan per ton [5][8]. Third Part: Trading Strategies - Single - sided: The upside potential of the 05 peanut is limited [11]. - Calendar Spread: Short the 5 - 10 peanut spread on rallies for band trading [12]. - Options: Sell the pk510 - p - 7800 option [13]. Fourth Part: Relevant Illustrations - The content provides multiple charts including Shandong peanut spot prices, peanut oil mill pressing profits, peanut oil prices, peanut spot - futures basis, and various peanut contract spreads, with data from 2021 - 2025 [17][19][23].