油料日报：花生上市节奏不一，区域价差扩大-20251010

Group 1: Investment Ratings - The investment strategy for both soybeans and peanuts is neutral [3][4] Group 2: Core Views - For soybeans, the futures price of the bean one 2511 contract closed at 3975.00 yuan/ton yesterday, up 48.00 yuan/ton (+1.22%) from the previous day. The spot basis of edible beans is A11+245, down 48 (-32.14%) from the previous day. Northeast new grain is increasing during the National Day. Protein content is low due to weather, but overall production is expected to be less affected, with a yield of 350 - 400 jin/mu. Downstream demand is average, and grain traders are cautious in purchasing. The overall supply in the Northeast soybean producing area is loose, with high - quality beans having better prices, but the demand side has not improved, and soybean prices still face long - term pressure [1][2] - For peanuts, the futures price of the peanut 2511 contract closed at 7704.00 yuan/ton yesterday, down 60.00 yuan/ton (-0.77%) from the previous day. The average spot price of peanuts is 8380.00 yuan/ton, down 120.00 yuan/ton (-1.41%) month - on - month. The spot basis is PK11+696.00, up 60.00 (+9.43%) month - on - month. After the festival, the demand from oil mills has weakened, and the supply varies greatly in different regions. The listing pace in the Northeast is accelerating, while that in the North China region is slower due to rainy weather, resulting in large regional price differences [3] Group 3: Market Analysis Summary Soybeans - Futures: The closing price of the bean one 2511 contract was 3975.00 yuan/ton, with a change of +48.00 yuan/ton (+1.22%) from the previous day [1] - Spot: The edible bean spot basis was A11+245, with a change of -48 (-32.14%) from the previous day. In the Northeast, new grain is increasing, and there are different prices for different protein contents. The downstream demand is average, and high - quality resources are popular [1][2] Peanuts - Futures: The closing price of the peanut 2511 contract was 7704.00 yuan/ton, with a change of -60.00 yuan/ton (-0.77%) from the previous day [3] - Spot: The average spot price of peanuts was 8380.00 yuan/ton, down 120.00 yuan/ton (-1.41%) month - on - month. The spot basis was PK11+696.00, up 60.00 (+9.43%) month - on - month. There are price differences in different regions, and oil mills are cautious in purchasing [3] Group 4: Market Information Summary Soybeans - In the Northeast, during the National Day, new grain is gradually increasing. The purchase price of 40 - protein rough grain is 1.9 yuan/jin, 41 - protein is 1.95 yuan/jin, and low - protein is 1.8 - 1.85 yuan/jin. The downstream demand is average, and high - quality resources are popular [2] - The spot prices of different regions in Heilongjiang are stable, such as 2.11 yuan/jin in Harbin, 2.10 yuan/jin in Shuangyashan, etc. [2] Peanuts - The national average price of peanut general rice is 4.19 yuan/jin, down 0.06 yuan/jin from before the festival. There are price differences in different regions and varieties, and oil mills are cautious in purchasing [3]