豆一供需双弱僵持震荡，花生购销分化成交平淡

Report Industry Investment Rating - The investment rating for both soybeans and peanuts is neutral [3][5] Core Viewpoints - The soybean market is currently in a stalemate with weak supply and demand. Short - term prices are expected to remain in a volatile and wait - and - see state due to policy regulation, support from farmers' reluctance to sell, and weak demand [2] - The peanut market shows a situation where the trading atmosphere is dull with a slight difference in the mentality of traders. Attention should be paid to the changes in the procurement rhythm of downstream enterprises [3][4] Market Analysis of Soybeans Futures and Spot Market - Yesterday, the closing price of the Douyi 2605 contract was 4106.00 yuan/ton, up 2.00 yuan/ton (+0.05%) from the previous day. The edible soybean spot basis was A05 + 134, up 38 (+32.14%) from the previous day [1] Supply and Demand - Supply: Although the rotation storage auction has increased potential sources of goods, the low transaction volume reflects cautious market acceptance. Coupled with the widespread reluctance to sell in the producing areas, the overall supply is still tight [2] - Demand: High prices have suppressed procurement. Downstream processing enterprises mainly replenish inventory based on rigid demand, and their willingness to actively stock up is insufficient [2] Spot Price - In Heilongjiang, the spot prices of soybeans in different regions vary. For example, in Harbin, the loading price of the national standard first - class protein 39% medium - grain tower grain is 2.10 yuan/jin; in Baocheng, it is 2.08 yuan/jin [1] Market Analysis of Peanuts Futures and Spot Market - Yesterday, the closing price of the peanut 2603 contract was 7968.00 yuan/ton, up 18.00 yuan/ton (+0.23%) from the previous day. The average spot price of peanuts was 8055.00 yuan/ton, with no change from the previous day. The spot basis was PK03 - 1068.00, up 82.00 (-7.13%) from the previous day [3] Supply and Demand - Supply: The rhythm of goods arrival at the grass - roots level varies among different producing areas, and the price difference structure between regions remains stable. Some holders choose to offer small discounts to promote sales [3] - Demand: Food processing enterprises maintain on - demand procurement, while oil processing enterprises strictly control the quality indicators of oilseeds. Some factories have an increase in the phenomenon of trucks waiting to unload and a high return rate [4] Spot Price - The average price of general - grade peanuts in the national market was 4.03 yuan/jin, showing a stable but slightly weak trend. The prices in different regions and for different varieties vary. For example, the good - quality Henan wheat - stubble Baisha general - grade peanuts are priced at 3.5 - 3.8 yuan/jin, and the 8 - sieve refined rice is 4.2 - 4.3 yuan/jin [3]