油料日报：豆一节前备货阶段性支撑豆价，花生供应放缓需求仍弱-20250923

Report Investment Rating - The investment strategy for both soybeans and peanuts is neutral [4][7] Core Viewpoints - For soybeans, the pre - festival stocking may provide temporary support for soybean prices, but the upcoming large - scale listing of new soybeans in the Northeast may impact the Guanzhong market, and the supply pressure in the Hubei and Hunan regions is increasing. The market is generally bearish on the future soybean price trend [1][3] - For peanuts, the supply is gradually increasing but not yet in large quantities, the supply of high - quality goods is limited, the traditional festival stocking market is lackluster, the demand from the peanut oil terminal has not increased significantly, and attention should be paid to the price - supporting effect of oil mills' subsequent purchases [4][5][6] Market Analysis Soybeans - Futures: The closing price of the soybeans 2511 contract yesterday was 3912.00 yuan/ton, up 8.00 yuan/ton or +0.20% from the previous day [1] - Spot: The spot basis of edible soybeans was A11 + 308, down 8 or 32.14% from the previous day. The new season soybeans in the Northeast have started to be sporadically listed, with the current purchase price of raw grains between 1.9 - 1.95 yuan/jin, and the price of low - protein tower grains about 2 yuan/jin. The market trading is light, and most grain trading enterprises are waiting to buy after the soybeans are concentratedly listed at the end of this month [1][2] Peanuts - Futures: The closing price of the peanuts 2511 contract yesterday was 7806.00 yuan/ton, down 28.00 yuan/ton or - 0.36% from the previous day [4] - Spot: The average spot price of peanuts was 8380.00 yuan/ton, up 50.00 yuan/ton or +0.60% month - on - month. The spot basis was PK11 + 394.00, up 28.00 or +7.65% month - on - month. The average price of general peanuts in the national market was 4.17 yuan/jin, up 0.02 yuan/jin [4] Market Information Summary Soybeans - The new season soybeans in the Northeast have started to be sporadically listed, showing the characteristic of "high - quality products at high prices". The market trading is light, and most enterprises are waiting to buy after the concentrated listing at the end of this month. The market is generally bearish on the future soybean price trend. The prices of tower grains in various regions in Heilongjiang remained flat compared with the previous day [2] Peanuts - The new peanut listing areas continue to expand but have not yet been in large - scale supply. The supply of high - quality goods is small. Due to high moisture or large quality differences, traders are cautious in purchasing. Only some oil mills are making small - scale purchases, and the transaction rate is low. The terminal demand for peanut oil has not increased significantly [5][6] Strategy - The strategy for both soybeans and peanuts is neutral [4][7]