银河期货花生日报-20251106

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The supply of peanuts is increasing, while downstream demand remains weak. Peanut prices are expected to be relatively stable in the short term. Peanut oil prices are stable, and peanut meal prices have recently stabilized. Oil mills' theoretical profit from peanut pressing is acceptable. The peanut futures will continue to fluctuate at the bottom, and the new - season peanut output is expected to be higher than last year with lower planting costs [3][7] Group 3: Summary by Directory First Part: Data - Futures盘面: PK604 closed at 7862, down 8 (-0.10%), with a trading volume of 9,447 (up 50.38%) and an open interest of 17,046 (up 42.35%); PK510 closed at 8140, up 14 (0.17%), with a trading volume of 26 (up 4.00%) and an open interest of 528 (up 3.94%); PK601 closed at 7788, down 14 (-0.18%), with a trading volume of 55,253 (up 14.43%) and an open interest of 168,130 (up 2.51%) [1] - Spot and Basis: In the spot market, the prices in Henan Nanyang, Shandong Jining, and Shandong Linyi were 7400, 7800, and 7800 respectively, with no change. The prices of Rizhao peanut meal, Rizhao soybean meal, peanut oil, and Rizhao first - grade soybean oil were 3250, 3050, 14580, and 8310 respectively, with the soybean oil price up 10. The basis for Henan Nanyang was - 388, and for Shandong Jining and Linyi was 12. The price difference between soybean meal and peanut meal was - 3, and the price difference between peanut oil and soybean oil was 6270. The import prices of Sudanese peanuts were 8600 and Senegalese peanuts were 7600, with no change [1] - Spreads: The spread of PK01 - PK04 was - 74, down 6; the spread of PK04 - PK10 was - 278, down 22; the spread of PK10 - PK01 was 352, up 28 [1] Second Part: Market Analysis - Peanut prices in Henan have declined, while those in the Northeast have remained stable. The price of 308 common peanuts in Fuyu, Jilin was 4.3 yuan/jin, and in Changtu, Liaoning was 4.3 yuan/jin, both unchanged. The price of Baisha common peanuts in Henan was 3.5 - 3.7 yuan/jin, down 0.1 yuan/jin, and in Junan, Shandong was 3.8 yuan/jin, down 0.1 yuan/jin. Imported peanut prices were stable. The mainstream purchase price of peanut oil mills was 7650 - 7800 yuan/ton, and the theoretical break - even price was 7920 yuan/ton. The prices of soybean oil and peanut oil were stable. The price of Rizhao soybean meal dropped by 10 yuan/ton to 3020 yuan/ton, and the 48 - protein peanut meal was quoted at 3210 yuan/ton [3][5] Third Part: Trading Strategies - Single - sided: Peanuts in contracts 01 and 05 will fluctuate at low levels [8] - Calendar Spread: Hold a wait - and - see attitude [9] - Options: Hold the short position of pk601 - P - 7600 [10] Fourth Part: Related Attachments - There are six figures including the spot price of Shandong peanuts, the pressing profit of peanut oil mills, the price of peanut oil, the basis between peanut spot and continuous contracts, the spread between peanut 10 - 1 contracts, and the spread between peanut 1 - 4 contracts [13][18][19]