油料日报：豆一政策提振及备货支撑，花生需求偏弱格局难改-20260109

1. Report Industry Investment Rating - The investment rating for both soybeans and peanuts is neutral [3][5] 2. Core Viewpoints - For soybeans, the futures price of the main contract of Douyi had a slight correction yesterday, while the spot price in southern production areas remained stable with weak trading. Near the Spring Festival, the demand from food processing and household consumption is expected to provide some support for soybean prices. The futures price of the main contract broke through the resistance level, mainly driven by the positive macro - policy signals and the possible delay of CGSCA auctions, which boosted bullish sentiment. In the spot market, farmers in Northeast China are reluctant to sell, leading to a tight supply and expected firm purchase prices in the production areas [1][2] - For peanuts, the futures price of the main contract trended weakly yesterday. The peanut market currently has an abundant supply and weak demand, with light trading. Food processing enterprises mainly make purchases based on rigid demand, and oil - pressing plants keep the purchase price of oil peanuts stable but have strict acceptance standards. Although the arrival volume at some oil plants has decreased recently, the overall situation of oversupply still persists, and the pre - Spring Festival stocking rhythm of downstream users needs to be closely monitored [3][4] 3. Summary by Related Contents Soybeans Market Analysis - Futures: The closing price of the Douyi 2605 contract yesterday was 4387.00 yuan/ton, a decrease of 17.00 yuan/ton or - 0.39% from the previous day [1] - Spot: The basis of edible soybean spot was A05 + 53, an increase of 57 or 32.14% from the previous day. The spot price in Northeast China remained stable, and the high price suppressed trading activity. The prices of different regions in Northeast China are as follows: in Harbin, Heilongjiang, the loading price of national standard first - class 39% protein medium - sized tower - stored grain is 2.20 yuan/jin; in Baoqing, Shuangyashan, Heilongjiang, it is 2.17 yuan/jin; in Fuyin, Jiamusi, Heilongjiang, it is 2.18 yuan/jin; in Nehe, Qiqihar, Heilongjiang, the 41% protein medium - sized tower - stored grain is 2.35 yuan/jin; in Nenjiang, Heihe, Heilongjiang, it is 2.35 yuan/jin; in Hailun, Suihua, Heilongjiang, it is 2.28 yuan/jin [1] Strategy - The strategy for soybeans is neutral [3] Peanuts Market Analysis - Futures: The closing price of the peanut 2603 contract yesterday was 8046.00 yuan/ton, a decrease of 26.00 yuan/ton or - 0.32% from the previous day [3] - Spot: The average spot price of peanuts was 8016.00 yuan/ton, a decrease of 2.00 yuan/ton or - 0.02% from the previous day. The spot basis was PK03 - 1046.00, a change of + 26.00 or - 2.43%. The average price of general - quality peanuts in the national market was 4.01 yuan/jin, a decrease of 0.01 yuan/jin. The prices in different regions and varieties vary. The average contract purchase price of oil peanuts by national oil plants was 7314 yuan/ton, and the average price in Shandong was 7238 yuan/ton, remaining stable. The quotes of national oil plants range from 6800 - 7900 yuan/ton, with strict quality control [3] Strategy - The strategy for peanuts is neutral [5]