银河期货花生日报-20260112

Group 1: Report Overview - Report Name: Peanut Daily Report [1] - Date: January 12, 2026 [1][2] - Researcher: Liu Dayong [1] Group 2: Data Futures Market - PK604: Closing price 7860, down 60 (-0.76%); Volume 31,429, down 21.48%; Open interest 34,965, down 4.45% [2] - PK610: Closing price 8262, up 2 (0.02%); Volume 201, down 53.69%; Open interest 2,459, up 1.61% [2] - PK601: No valid data for closing price and change; Volume 0, down 100.00%; Open interest 1,052, down 17.62% [2] Spot Market - Peanut: Henan Nanyang 7400 yuan/ton; Shandong Jining 8400 yuan/ton, down 200 yuan/ton; Shandong Linyi 8400 yuan/ton, down 200 yuan/ton [2] - Peanut Meal: Rizhao 3200 yuan/ton, unchanged [2] - Soybean Meal: Rizhao 3120 yuan/ton, up 10 yuan/ton [2][6] - Peanut Oil: 14350 yuan/ton, unchanged [2] - Soybean Oil: Rizhao first - grade 8320 yuan/ton, down 30 yuan/ton [2] Import Price - Sudanese peanuts 8600 yuan/ton, unchanged; Brazilian new peanuts 9200 yuan/ton; Indian 50/60 peanuts 8000 yuan/ton, unchanged [4] Spread - PK04 - PK10 spread: -402, down 62 [2] Group 3: Market Analysis - Henan peanut prices are stable, while Northeast China's are weak. Northeast Jilin Fuyu 308 peanuts are 4.6 yuan/jin, down 0.05 yuan/jin; Liaoning Changtu 4.6 yuan/jin, stable. Henan's Baisha peanuts are 3.6 - 3.8 yuan/jin, stable; Shandong Junan 3.5 yuan/jin, stable [4] - Peanut oil prices are stable. Mainstream peanut oil factory purchase prices range from 6900 - 7900 yuan/ton, with a theoretical cost - break price of 7780 yuan/ton. Domestic first - grade ordinary peanut oil is 14300 yuan/ton, and small - pressed fragrant peanut oil is 16500 yuan/ton, both stable [4][6] - Rizhao soybean meal prices are up. The unit protein spread between peanut meal and soybean meal is low, and peanut meal is expected to remain strong in the short term. 48 - protein peanut meal is 3100 yuan/ton [6] - Overall, peanut supply is increasing, but downstream demand is weak. Peanut prices are expected to be relatively stable in the short term. Peanut futures will continue to fluctuate weakly [4][8] Group 4: Trading Strategies Unilateral - Go long on 05 peanuts at low prices as it is in bottom - range oscillation [9] Calendar Spread - Stay on the sidelines [10] Options - Sell PK603 - P - 8200 at high prices [11] Group 5: Related Charts - Chart 1: Shandong peanut spot prices (yuan/ton) [13] - Chart 2: Peanut oil factory crushing profit (yuan/ton) [13] - Chart 3: Peanut oil prices (yuan/ton) [19] - Chart 4: Peanut spot and continuous contract basis (yuan/ton) [19] - Chart 5: Peanut 4 - 10 contract spread (yuan/ton) [21] - Chart 6: Peanut 1 - 4 contract spread (yuan/ton) [21]