油料日报：豆一现货强势但物流受限，花生产区惜售价格偏强-20251210

Report Industry Investment Rating - The investment rating for both soybeans and peanuts is neutral [3][6] Core Viewpoints - The soybean market is supported by a tightening supply of grain at the grassroots level, with farmers' remaining grain generally only 2 - 30% and strong reluctance to sell. The main constraint on the spot market is the logistics issue. The peanut market shows a stable - to - strong price trend due to farmers' reluctance to sell in some areas, but the overall price fluctuation is limited, and the strict acquisition indicators of oil mills cannot boost the market [3][5] Market Analysis of Soybeans Futures and Spot Market - Yesterday, the closing price of the soybeans No.1 2601 contract was 4089.00 yuan/ton, up 4.00 yuan/ton or 0.10% from the previous day. The edible soybean spot basis was A01 + 11, down 4 or 32.14% from the previous day [1] Market Information - The new - season soybean spot prices in the Northeast production area are rising, with an increase of 30 - 80 yuan/ton. The actual soybean purchase and sales are slow, and the tower - grain prices are stable. The future soybean trend depends on downstream consumption [2] Market Trends - The main soybean futures contract rebounded slightly. The core support for the soybean market is the tightening of grassroots grain sources. As the traditional pre - Spring Festival grain - purchasing period approaches, farmers are reluctant to sell, making it difficult for traders to buy grain. The impact of soybean auctions on the spot market is minimal. The spot price is strong, and the main constraint is the logistics problem [3] Market Analysis of Peanuts Futures and Spot Market - Yesterday, the closing price of the peanut 2601 contract was 8060.00 yuan/ton, up 42.00 yuan/ton or 0.52% from the previous day. The peanut spot average price was 8182.00 yuan/ton, with no change from the previous day. The spot basis was PK01 + - 1260.00, down 42.00 or 3.45% from the previous day. The national average price of peanut general - quality rice was 4.09 yuan/jin, up 0.03 yuan/jin [4] Market Trends - The main peanut futures contract fluctuated sideways. Some farmers in the Northeast and Henan are reluctant to sell again, leading to a stable - to - strong peanut price. Traders are cautious in purchasing. In some regions, the sales situation varies. The overall peanut price fluctuation is small, and there may be a slight increase in some areas. The strict acquisition indicators of oil mills cannot boost the peanut market [5] Strategies - For soybeans, the strategy is neutral [3] - For peanuts, the strategy is also neutral [6]