豆一供需偏紧支撑价格，花生市场交易显平淡

1. Report Industry Investment Rating - The investment strategy for both soybeans and peanuts is rated as neutral [3][5] 2. Core View of the Report - The soybean market is currently characterized by tight supply and potential demand, with strong short - term upward price momentum due to factors such as traders' reluctance to sell, tight supply of high - protein soybeans, active state reserve auctions, and pre - Spring Festival stocking demand. However, high prices may suppress consumption, and price corrections should be watched out for after the pre - holiday stocking period [2] - The peanut market has an increase in supply, but due to farmers' reluctance to sell and middlemen's price - holding mentality, the overall market trading activity is low. The downstream oil mills' purchase prices are stable but with strict acceptance standards, and food processing enterprises mainly replenish inventory based on rigid demand. Attention should be paid to the downstream stocking rhythm before the Spring Festival [3][4] 3. Summary by Related Catalogs Soybean Market Analysis - Futures: The closing price of the soybean No. 1 2605 contract yesterday was 4404.00 yuan/ton, up 128.00 yuan/ton from the previous day, a change of +2.99% [1] - Spot: The basis of edible soybean spot is A05 - 4, down 88 from the previous day, a change of 32.14%. Northeast soybean spot prices continued to strengthen yesterday, generally up 20 to 40 yuan/ton. Specific spot prices in different regions of Heilongjiang are provided [1] Strategy - The investment strategy is neutral [3] Peanut Market Analysis - Futures: The closing price of the peanut 2603 contract yesterday was 8072.00 yuan/ton, up 10.00 yuan/ton from the previous day, a change of +0.12% [3] - Spot: The average spot price of peanuts was 8018.00 yuan/ton, down 18.00 yuan/ton from the previous day, a change of - 0.22%. The spot basis was PK03 - 1072.00, down 10.00 from the previous day, a change of +0.94%. National average prices for various types of peanuts and oil mills' purchase prices are provided [3] Strategy - The investment strategy is neutral [5]