银河期货花生日报-20251103

Group 1: Report Overview - The report is an agricultural product research report on peanuts, dated November 3, 2025 [1] Group 2: Market Data Futures Market - PK604 closed at 7880, down 12 (-0.15%), with a trading volume of 4,077 (up 1492.58%) and an open interest of 4,605 (up 173.78%) [2] - PK510 closed at 8126, unchanged (0.00%), with a trading volume of 47 (up 161.11%) and an open interest of 490 (up 2.94%) [2] - PK601 closed at 7800, down 12 (-0.15%), with a trading volume of 69,185 (up 48.19%) and an open interest of 168,467 (down 0.22%) [2] Spot Market - In the spot market, prices in Henan Nanyang, Shandong Jining, and Shandong Linyi were 7200, 7800, and 7800 respectively, with Shandong Jining and Linyi down 600 [2] - Imported Sudanese peanuts were priced at 8600, and Senegalese peanuts at 7600, both unchanged [2] - Rizeshao peanut meal was priced at 3250, unchanged; Rizhao soybean meal at 3040, up 30; peanut oil at 14580, unchanged; and Rizhao first - grade soybean oil at 8290, down 30 [2] Spread - The spread between PK01 - PK04 was - 80, unchanged; PK04 - PK10 was - 246, down 12; PK10 - PK01 was 326, up 12 [2] Group 3: Market Analysis - Peanut prices in Henan continued to rebound, and those in Northeast China rose. In Northeast China, the price of 308 common peanuts in Fuyu, Jilin was 4.3 yuan/jin, up 0.1 yuan/jin; in Changtu, Liaoning, it was 4.3 yuan/jin, up 0.15 yuan/jin [4] - In the Henan production area, the price of Baisha common peanuts was 3.6 - 3.75 yuan/jin, up 0.1 yuan/jin; in Junan, Shandong, it was 3.9 yuan/jin, down 0.05 yuan/jin [4] - Imported peanut prices were stable. The price of imported Sudanese refined peanuts was 8600 yuan/ton, Senegalese peanuts were 7600 yuan/ton, Brazilian new peanuts were 9200 yuan/ton, and Indian specification peanuts (50/60) were 8000 yuan/ton [4] - Peanut oil prices were stable. The mainstream transaction price of peanut oil mills was 7700 - 7900 yuan/ton, and the theoretical break - even price of oil mills was 7920 yuan/ton [4] - Rizhao soybean meal was stronger, with the spot price at 3030 yuan/ton, up 40 yuan/ton. The price difference per unit of protein between peanut meal and soybean meal was low, and peanut meal was stronger in the short term, with the 48 - protein peanut meal priced at 3210 yuan/ton [6] Group 4: Trading Strategy - Unilateral: Peanuts in contracts 01 and 05 are in a low - level oscillation, and short - term long positions can be considered [9] - Monthly spread: Wait and see [10] - Options: Hold the short position of pk601 - P - 7600 [11] Group 5: Related Charts - The report includes charts on Shandong peanut spot prices, peanut oil mill profit, peanut oil prices, peanut spot - futures basis, peanut 10 - 1 contract spread, and peanut 1 - 4 contract spread [13][19][22]