油料日报：豆一供应紧缺创阶段新高，花生关注麦茬米上市进度-20251021

1. Report Industry Investment Ratings - The investment strategy for both soybeans and peanuts is rated as neutral [4][6] 2. Core Views of the Report - The supply of soybeans is tight, and the futures price of soybeans reached a new high in the current period. The new soybeans in the Huanghuaihai region are expected to be slowly launched, and the harvest and launch of new soybeans in the southern region are generally delayed. For peanuts, the futures price fluctuated downward, with stable supply in the Northeast. The market should focus on the actual supply progress and quality of summer-sown peanuts in Henan and Shandong, and also pay attention to whether the oil mills' procurement can support the price later [1][3][5] 3. Summary by Related Catalogs Soybean View Market Analysis - Futures: The closing price of the soybeans 2511 contract yesterday was 4086.00 yuan/ton, up 58.00 yuan/ton or 1.44% from the previous day. Spot: The basis of edible soybeans was A11 - 46, down 58 or 32.14% from the previous day [1] Market Information Summary - The new-season soybean harvest in the Northeast is almost finished. Grain trading enterprises are actively purchasing, and high-protein soybeans are in high demand. The prices of low-protein common soybeans range from 1.75 - 1.8 yuan/jin, 39% protein soybeans are 1.9 yuan/jin, and over 40% protein soybeans are 1.95 - 2 yuan/jin. The prices of tower grains vary according to protein content. The prices of standard first-class medium-grained tower grains in various regions of Heilongjiang remained stable compared to the previous day [2] Market Situation - The futures price of soybeans reached a new high. Affected by the southern production reduction, the market sentiment in the Northeast was high, and high-protein soybeans had a strong upward trend. The Huanghuaihai region was in a state of supply shortage, and new soybeans were expected to be launched slowly. Continuous rainfall in the South delayed the autumn harvest, and the large-scale launch of new soybeans was postponed. In some areas, the wet surface farmland ratio exceeded 50%, and the limited number of drying towers exacerbated the tight spot circulation [3] Strategy - The strategy is neutral [4] Peanut View Market Analysis - Futures: The closing price of the peanuts 2511 contract yesterday was 7958.00 yuan/ton, up 30.00 yuan/ton or 0.38% from the previous day. Spot: The average spot price of peanuts was 8350.00 yuan/ton, unchanged from the previous day. The basis was PK11 + 242.00, down 30.00 or 11.03% from the previous day [4] Market Information Summary - The average price of common peanuts in the national market was basically stable at 4.18 yuan/jin. The prices in different regions varied, and the supply was scarce in some areas. The contract procurement prices of oil mills for common peanuts were 8200 - 8300 yuan/ton, and for oil peanuts were 7800 - 7900 yuan/ton, with a slight decrease in arrivals [4] Market Situation - The peanut futures price fluctuated downward. The supply in the Northeast was stable with obvious quality advantages, and the market mainly purchased Northeast peanuts. With the improvement of weather in Henan and Shandong, the supply of summer-sown peanuts was expected to increase. Currently, the demand support was limited, and attention should be paid to whether the oil mills' procurement can support the price later [5] Strategy - The strategy is neutral [6]