银河期货花生日报-20250612

Group 1: Report General Information - Report Title: Peanut Daily Report [2] - Report Date: June 12, 2025 [2][3] - Researcher: Liu Dayong [2] Group 2: Report Industry Investment Rating - Not provided Group 3: Report Core View - The supply of peanuts remains tight, but downstream demand is still weak, and peanut prices are relatively weak in the short - term. Peanut 10 will continue to decline and fluctuate weakly due to expected increase in planting area and decrease in planting cost despite weather uncertainties [5][11]. Group 4: Summary by Directory First Part: Data - Futures Market: PK504 closed at 8042, down 16 (-0.20%), with a trading volume of 4 (down 69.23%) and an open interest of 102 (up 0.99%); PK510 closed at 8208, down 26 (-0.32%), with a trading volume of 60,065 (down 45.33%) and an open interest of 132,256 (down 0.09%); PK601 closed at 7990, down 26 (-0.33%), with a trading volume of 551 (down 58.29%) and an open interest of 3,775 (up 6.67%) [3]. - Spot Market: In the spot market, the price in Henan Nanyang was 9600, Shandong Jining and Linyi were 8600, and there was no change compared to the previous day. The price of Rizhao peanut meal was 3250, Rizhao soybean meal was 2870, peanut oil was 15000, and Rizhao first - grade soybean oil was 7900 (down 20). The import price of Sudanese peanuts was 8300, with no change [3]. - Spread: The spread of PK01 - PK04 was - 52 (down 10), PK04 - PK10 was - 166 (up 10), and PK10 - PK01 was 218 (no change) [3]. Second Part: Market Analysis - Peanut Price: Peanut prices in Henan have declined, and those in the Northeast are weak. Jilin Fuyu 308 general peanuts are 4.75 yuan/jin, unchanged; Liaoning Changtu is 4.7 yuan/jin, down 0.05 yuan/jin; Henan's Baisha general peanuts are 4.65 - 4.8 yuan/jin, down 0.05 yuan/jin; Shandong Junan is 4.15 yuan/jin, down 0.05 yuan/jin. The imported Sudanese refined peanuts are 8250 yuan/ton, down 50 yuan/ton. It is expected that peanut spot prices will be relatively weak in the short - term [5]. - Peanut Oil and By - products: The purchase price of peanut oil mills is stable, with the mainstream transaction price at 7350 - 7650 yuan/ton, and the theoretical break - even price of the mills is 8090 yuan/ton. The prices of peanut oil and soybean oil are stable. The domestic first - grade ordinary peanut oil is 15000 yuan/ton, and the small - pressed fragrant peanut oil is 17000 yuan/ton. Rizhao soybean meal is 2870 yuan/ton, unchanged. The unit protein price difference between peanut meal and soybean meal is high, and peanut meal is weak in the short - term [5][9]. Third Part: Trading Strategy - Single - side: Peanut 10 fluctuates at a high level, and short - sell on rallies [12]. - Calendar Spread: Do reverse spreads on Peanut 10 - 1 on dips [13]. - Options: Sell pk510 - C - 8800 [14]. Fourth Part: Related Attachments - The report provides six figures, including the spot price of Shandong peanuts, the profit of peanut oil mills, the price of peanut oil, the basis between peanut spot and continuous contracts, the spread between Peanut 10 - 1 contracts, and the spread between Peanut 3 - 10 contracts [16][21][25].