银河期货花生日报-20251022

Group 1: Report Industry Investment Rating - No relevant content mentioned Group 2: Core Viewpoints of the Report - The supply of peanuts is increasing, but downstream demand remains weak. Peanut spot prices are expected to be relatively stable in the short term, and peanut futures will continue to fluctuate at the bottom. The new - season peanut production is expected to be the same as last year, and the planting cost has decreased. Peanut 01 will likely show a relatively strong oscillation [4][10] Group 3: Summary by Directory 1. First Part: Data - Futures Disk: For PK604, the closing price was 7944, down 38 (-0.48%), with a trading volume increase of 45.78% and an open - interest decrease of 15.18%. PK510 had no valid data. For PK601, the closing price was 7838, down 42 (-0.54%), with a trading volume of 124,185 (up 21.32%) and an open - interest of 186,853 (down 6.49%) [2] - Spot and Basis: The spot price of Rizhao peanut meal was 3250, Henan Nanyang peanut was 8600, Shandong Jining and Linyi peanuts were 8400 each. Rizhao soybean meal was 2900, peanut oil was 14580, and Rizhao first - grade soybean oil was 8440. The price of Rizhao soybean meal dropped 20 yuan/ton, and the price of Henan Nanyang peanuts dropped 200 yuan/ton, while other prices remained stable. The basis between soybean meal and peanut meal was 762 in some cases, and the basis between peanut oil and soybean oil was 6140. The import price of Sudanese peanuts was 8500, and that of Senegalese peanuts was not available [2] - Spread: The spread between PK01 and PK04 was - 106, down 4. Other spreads had no valid data [2] 2. Second Part: Market Analysis - Peanut prices in Henan and Northeast China were stable. The price of 308 common peanuts in Fuyu, Jilin was 4.15 yuan/jin, and in Changtu, Liaoning was 4.2 yuan/jin. The price of Baisha common peanuts in Henan was 4.2 - 4.3 yuan/jin, and in Junan, Shandong was 4.1 yuan/jin. The import price of Sudanese refined peanuts was 8600 yuan/ton, and that of Senegalese oil peanuts was 7600 yuan/ton. Some peanut oil mills started purchasing, with the mainstream transaction price at 7800 - 7900 yuan/ton, and the theoretical break - even price at 7920 yuan/ton. The prices of soybean oil and peanut oil were stable. The spot price of Rizhao soybean meal dropped 20 yuan/ton, and the unit - protein spread between peanut meal and soybean meal was high, with peanut meal expected to be weak in the short term [4][8] 3. Third Part: Trading Strategies - Unilateral: For 01 and 05 peanuts, which are oscillating at low levels, one can take a light - position short - term long position [11] - Monthly Spread: Adopt a wait - and - see approach [12] - Options: Sell and hold pk601 - P - 7600 [13] 4. Fourth Part: Related Attachments - The report includes six figures, namely the spot price of Shandong peanuts, peanut oil mill's crushing profit, peanut oil price, the basis between peanut spot and continuous contract, the spread between peanut 10 - 1 contracts, and the spread between peanut 1 - 4 contracts, all with data sources from Galaxy Futures and iFinD Information [15][23][26]