银河期货花生日报-20250821

Group 1: Report Overview - The report is a peanut daily report dated August 21, 2025, from the Commodity Research Institute's Agricultural Products R & D Report [1][2] Group 2: Investment Ratings - No report industry investment rating is provided in the given content Group 3: Core Views - The peanut price is expected to be relatively weak in the short - term due to low supply and weak downstream demand. 10 - peanut will have a narrow - range bottom - shock. It is recommended to wait for a rebound and then take short positions. For the month - spread, it is advised to wait and see, and hold the sold pk510 - C - 8400 option [9][10][12] Group 4: Summary by Directory First Part: Data - Futures盘面: PK604 closed at 7888 with a decrease of 6 (-0.08%), trading volume of 1 (-99.17%), and an open interest of 344 (-0.29%); PK510 closed at 7974 with a decrease of 30 (-0.38%), trading volume of 16,202 (-12.26%), and an open interest of 64,180 (-4.44%); PK601 closed at 7890 with an increase of 8 (0.10%), trading volume of 6,011 (4.98%), and an open interest of 27,307 (7.16%) [2] - Spot and Basis: The spot prices in Henan Nanyang and Shandong Jining and Linyi were 9200, 8400, and 8400 respectively. The price of Rizhao peanut meal was 3350, Rizhao soybean meal was 3020, peanut oil was 15000, and Rizhao first - grade soybean oil was 8480. The basis of Henan Nanyang was 1226, and that of Shandong Jining and Linyi was 426. The difference between peanut oil and soybean oil was 6520. The import price of Sudanese peanuts was 8250 [2] - Spreads: PK01 - PK04 spread was 2 with an increase of 14; PK04 - PK10 spread was - 86 with an increase of 24; PK10 - PK01 spread was 84 with a decrease of 38 [2] Second Part: Market Analysis - Peanut Price: Peanut prices in Henan increased, while those in the Northeast remained stable. The expected short - term peanut spot price is relatively strong. Most peanut oil mills stopped purchasing, with the mainstream transaction price at 7650 - 7700 yuan/ton and the theoretical cost - price at 8110 yuan/ton [4] - By - products: The spot price of Rizhao soybean meal increased by 10 yuan/ton to 3030 yuan/ton. The unit - protein price difference between peanut meal and soybean meal is high, and the short - term peanut meal price is weak, with the 48 - protein peanut meal quoted at 3260 yuan/ton [5][8] - Overall Market: Recently, the purchase price of oil mills, domestic peanut prices, and imported peanut prices have remained stable. The supply is still low, and the downstream demand is weak. The peanut price is relatively weak in the short - term. Peanut oil and peanut meal prices are stable, and the oil mill's theoretical profit is acceptable [9] Third Part: Trading Strategies - Single - side: Wait and see for the 10 - peanut's low - level shock, and mainly take short positions after a rebound [10] - Month - spread: Wait and see [11] - Options: Hold the sold pk510 - C - 8400 option [12] Fourth Part: Related Attachments - There are six charts including Shandong peanut spot price, peanut oil mill's pressing profit, peanut oil price, peanut spot and continuous contract basis, peanut 10 - 1 contract spread, and peanut 1 - 4 contract spread [14][20][24]