油料日报：花生需求偏弱，价格承压-20250826

Report Industry Investment Rating - The investment strategy for both soybeans and peanuts is neutral [3][4] Core Viewpoints - The demand for peanuts is weak, and prices are under pressure. The price of soybeans is weakly stable in the short - term due to factors such as new bean supply increase, limited market replenishment, and the release of old grains from state - owned reserves [1][2] Market Analysis of Soybeans Futures and Spot Market - The closing price of the soybeans 2511 contract yesterday was 3992.00 yuan/ton, a change of +7.00 yuan/ton (+0.18%) from the previous day. The spot basis of edible soybeans was A11 + 268, a change of - 7 (-32.14%) from the previous day [1] Market Information - The soybean prices in the Northeast market remained stable today. Some traders sold state - owned reserve soybeans at 2.1 - 2.12 yuan/jin, with average sales. As new beans are approaching the market, a bumper harvest is expected, and with continuous state - owned reserve auctions, new bean prices may suppress old bean prices. The prices in various regions of Heilongjiang remained flat compared to the previous day [1] Price Outlook - Yesterday, the soybeans futures price fluctuated. Grain trading enterprises have little inventory and are waiting for a large number of new beans to enter the market. In the short - term, domestic soybean prices are weakly stable due to new bean supply increase, limited market replenishment, and the release of old grains from state - owned reserves [1][2] Market Analysis of Peanuts Futures and Spot Market - The closing price of the peanut 2510 contract yesterday was 7796.00 yuan/ton, a change of - 6.00 yuan/ton (-0.08%) from the previous day. The average spot price of peanuts was 8620.00 yuan/ton, a change of +140.00 yuan/ton (+1.65%) from the previous day. The spot basis was PK10 + 304.00, a change of +6.00 (+2.01%) from the previous day [3] Market Information - Affected by weak terminal demand, peanut oil factory quotes were basically stable. The price difference between peanut oil and related oils changed. New peanuts were increasing in the market, and prices varied by region. Oil mills have a low operating rate, low pressing demand, and are mainly digesting inventory, waiting for summer peanuts to enter the market [3]