油料日报：豆一强势上扬，花生优质资源支撑有限-20251106

Group 1: Report Investment Ratings - The investment rating for both soybeans and peanuts is neutral [4][6] Group 2: Core Views - The soybeans market shows a strong upward trend in the short - term, but the downstream demand is weak. If the state - owned reserve increases the auction volume and imported soybeans impact the market, the upward momentum of domestic soybeans may be limited [3] - The peanut market has limited support from high - quality resources. Although the prices of high - quality peanuts in the Northeast region are supported, the overall demand in other regions is inactive, and most large and medium - sized oil mills have not started purchasing [5] Group 3: Soybean Market Analysis Futures and Spot Market - The closing price of the soybeans 2601 contract was 4123.00 yuan/ton, up 68.00 yuan/ton or 1.68% from the previous day. The edible soybean spot basis was A01 - 43, down 68 or 32.14% from the previous day [1] Market Information - The new - season soybeans in the Northeast region are stable. The state - owned reserve purchase price has been set, and high - protein soybeans may flow into the state - owned reserve. Farmers are reluctant to sell, and downstream traders purchase on - demand. The domestic soybean market is oversupplied, and prices may decline if there is concentrated selling later [2] - The price of the soybean futures main contract rose the most in nearly 3 months. The demand side is mostly waiting and watching or making small - scale purchases. The rising prices in the production areas are not well - accepted by the demand side, and some dealers are waiting for price drops to buy [3] Group 4: Soybean Strategy - The strategy for soybeans is neutral [4] Group 5: Peanut Market Analysis Futures and Spot Market - The closing price of the peanut 2601 contract was 7802.00 yuan/ton, down 10.00 yuan/ton or 0.13% from the previous day. The average peanut spot price was 7950.00 yuan/ton, unchanged from the previous day. The spot basis was PK01 - 2.00, up 10.00 or - 83.33% from the previous day [4] Market Information - The average price of general peanuts in the national peanut market is basically stable. The prices of different varieties vary by region. The contract purchase prices of oil mills for general peanuts and oil - making peanuts are different, and the arrival volume of peanuts from the Northeast is average [4][5] - The peanut futures are consolidating. After the busy farming season in Henan, farmers' selling attitudes differ. The supply of high - quality peanuts is limited, and the prices of low - quality peanuts are under pressure. Some traders are purchasing high - quality peanuts from the Northeast, but the overall demand in other regions is inactive [5] Group 6: Peanut Strategy - The strategy for peanuts is neutral [6]