河南产区仍高温，花生盘面继续反弹

Report Industry Investment Rating - Not provided in the content Core Viewpoints of the Report - The trading volume of peanuts is average, the price of general peanuts is strong, the purchase price of oil mills is stable, and the price of imported peanuts has increased. The market expects an increase in the planting area of new crops, but the recent drought in Henan and other places may affect production. The 10th peanut contract continued to rebound this week, and the 10 - 1 spread increased. [4] - It is recommended to go long on the 10th peanut contract at around 8100, go long on the 10 - 1 spread at low levels, and try the option strategy of selling pk510 - p - 7800. [4] Summary According to the Table of Contents Chapter 1: Comprehensive Analysis and Trading Strategies - Trading Logic: The trading volume of peanuts is average, the price of general peanuts is strong, the purchase price of oil mills is stable, the price of imported peanuts has increased, the opening rate of oil mills has slightly decreased, the inventory of peanut meal has slightly decreased following soybean meal, the price of peanut oil has increased, and the profit of oil mills has increased. The downstream consumption is still weak, the inventory of peanut oil in oil mills has slightly decreased, and the peanut inventory remains high. [4] - Strategies: Go long on the 10th peanut contract at around 8100; the current lowest warehouse receipt is around 8200 yuan/ton, and the futures price is slightly higher than the spot price; go long on the 10 - 1 spread at low levels; try the option strategy of selling pk510 - p - 7800. [4] Chapter 2: Core Logic Analysis - Peanut Price: Domestic peanuts in the Northeast and Henan regions have strong prices. The price of general peanuts in Shandong, Henan, and other places has increased. The purchase price of oil mills is stable, and the price of imported Sudanese peanuts has increased. [6][8] - Domestic Demand: The opening rate of oil mills has decreased, and the peanut inventory remains high. The current opening rate of peanut oil mills is 13.38%, a decrease of 1.89% from the previous week. The peanut inventory in oil mills is 15.4 tons, an increase of 0.1 tons from the previous week, and the peanut oil inventory is 4.05 tons, a decrease of 0.01 tons from the previous week. [9][11] - Pressing Profit: The purchase price of peanut oil mills is stable, the price of peanut meal has decreased, but the price of peanut oil has increased, resulting in an increase in the pressing profit of oil mills to 104 yuan/ton, an increase of 31 yuan/ton from the previous week. [12][14] - Basis and Spread: The 10 - 1 spread of peanuts has increased from around 60 to around 100. The current warehouse receipt price is 8000 yuan/ton, and the general peanut price is 8200 yuan/ton. [15][19] - Peanut Import: From January to March, the import volume of peanut kernels decreased by 59.4% compared to the same period last year, the export volume increased by 21%, and the import volume of peanut oil increased by 30%. [20][22] Chapter 3: Weekly Data Tracking - Peanut Price: The price of peanuts in Shandong, Henan, and the Northeast has increased, and the purchase price of oil mills is stable. The price of imported Sudanese peanuts has increased to 8100 yuan/ton, an increase of 100 yuan/ton from the previous week. [8] - Domestic Demand: The opening rate of oil mills has decreased, and the peanut inventory remains high. The current opening rate of peanut oil mills is 13.38%, a decrease of 1.89% from the previous week. The peanut inventory in oil mills is 15.4 tons, an increase of 0.1 tons from the previous week, and the peanut oil inventory is 4.05 tons, a decrease of 0.01 tons from the previous week. [11] - Pressing Profit: The pressing profit of oil mills has increased to 104 yuan/ton, an increase of 31 yuan/ton from the previous week. The price of peanut oil has increased, and the price of peanut meal has decreased. [14] - Basis and Spread: The 10 - 1 spread of peanuts has increased from around 60 to around 100. The current warehouse receipt price is 8000 yuan/ton, and the general peanut price is 8200 yuan/ton. [19] - Peanut Import: From January to March, the import volume of peanut kernels decreased by 59.4% compared to the same period last year, the export volume increased by 21%, and the import volume of peanut oil increased by 30%. [22]