银河期货花生日报-20251105

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints - Peanut spot prices are expected to be relatively stable in the short term, with supply increasing and downstream demand remaining weak. Peanut futures will continue to fluctuate at the bottom, and the output of the new season peanuts is expected to be higher than last year with lower planting costs [3][7] Group 3: Summary by Related Catalogs First Part: Data - Futures Disk: PK604 closed at 7870, down 22 or 0.28%, with a trading volume of 6,282 (up 80.36%) and an open interest of 11,975 (up 61.58%); PK510 closed at 8126, down 16 or 0.20%, with a trading volume of 25 (up 8.70%) and an open interest of 508 (down 0.20%); PK601 closed at 7802, down 10 or 0.13%, with a trading volume of 48,284 (up 8.61%) and an open interest of 164,014 (down 0.86%) [1] - Spot and Basis: Henan Nanyang spot price was 7200, Shandong Jining and Linyi were 7800; Rizhao peanut meal was 3250, Rizhao soybean meal was 3010, peanut oil was 14580, and Rizhao first - grade soybean oil was 8340. Import prices: Sudanese peanuts were 8600, and Senegalese peanuts were 7600 [1] - Spread: PK01 - PK04 spread was - 68 (up 12), PK04 - PK10 spread was - 256 (down 6), PK10 - PK01 spread was 324 (down 6) [1] Second Part: Market Analysis - Peanut prices in Henan and Northeast China were stable. Northeast Jilin Fuyu 308 common peanuts were 4.3 yuan/jin, Liaoning Changtu was 4.3 yuan/jin; Henan Baisha common peanuts were 3.6 - 3.75 yuan/jin, Shandong Junan was 3.9 yuan/jin. Imported peanut prices were also stable. Some peanut oil mills started to purchase, with the mainstream transaction price at 7650 - 7800 yuan/ton and the theoretical break - even price at 7920 yuan/ton. Peanut oil and soybean oil prices were stable, and Rizhao soybean meal spot price dropped by 20 yuan/ton to 2990 yuan/ton [3][5] Third Part: Trading Strategies - Unilateral: Try to go long lightly on 01 and 05 peanuts in the short term as they are oscillating at low levels [8] - Monthly Spread: Wait and see [9] - Options: Hold the sold pk601 - P - 7600 [10] Fourth Part: Related Attachments - There are six figures including Shandong peanut spot price, peanut oil mill profit, peanut oil price, peanut spot and continuous contract basis, peanut 10 - 1 contract spread, and peanut 1 - 4 contract spread, all with data sources from Galaxy Futures and iFinD Information [12][18][21]