油料日报：国产豆供给锐减支撑行情，花生采购停滞需求低迷-20251107

1. Report Industry Investment Rating - Soybean strategy: Neutral [4] - Peanut strategy: Neutral [6] 2. Core Views of the Report - Due to adverse weather, the total soybean production in the Huanghuaihai and Hubei-Hunan regions has decreased significantly this year, with an estimated decline of over 60%. The supply of high-protein soybeans has tightened, and the prices of Russian-Canadian soybeans and domestic high-protein soybeans are expected to remain strong [3]. - The peanut market is facing a situation where oil mills' acquisitions are poor, and downstream food companies' demand is weak. The peanut futures and spot prices have shown a downward trend [4][5]. 3. Summary by Related Catalogs Soybean View Market Analysis - Futures: The closing price of the bean one 2601 contract yesterday was 4146.00 yuan/ton, up 23.00 yuan/ton from the previous day, a change of +0.56% [1]. - Spot: The edible bean spot basis was A01 - 66, a change of -23 from the previous day, a change of 32.14% [1]. Market Information Summary - The new-season soybean market in Northeast China has shown a stable and rising trend, with the selling prices of tower grains from major grain trading enterprises increasing by 0.49% - 0.99%. The prices of high-protein soybean sources remain firm, and downstream traders mainly adopt a strategy of purchasing on demand [2]. - Due to adverse weather, the total soybean production in the Huanghuaihai and Hubei-Hunan regions has decreased significantly this year, and the supply of high-quality soybean sources in the production areas has continued to shrink, pushing up prices. It is expected that Russian-Canadian soybeans and domestic high-protein soybeans will maintain a strong operation [3]. Strategy - Neutral [4] Peanut View Market Analysis - Futures: The closing price of the peanut 2601 contract yesterday was 7788.00 yuan/ton, down 14.00 yuan/ton from the previous day, a change of -0.18% [4]. - Spot: The average spot price of peanuts was 7890.00 yuan/ton, a month-on-month change of -60.00 yuan/ton, a change of -0.75%. The spot basis was PK01 - 188.00, a month-on-month change of -186.00, a change of +9300.00% [4]. Market Information Summary - The average price of general peanuts in the national peanut market is basically stable. The overall arrival volume of oil mills has decreased. The acquisition performance of oil mills is poor, and the demand of downstream food companies remains weak [4][5]. Strategy - Neutral [6]