豆一多空交织震荡，花生购销平淡维稳

Report Industry Investment Rating - The investment rating for both soybeans and peanuts is neutral [3][5] Core Viewpoints - The soybean market is in a high - level consolidation phase with a mix of bullish and bearish factors. The limited remaining grain in the producing areas and auction premiums provide bottom support, while the low acceptance of high prices by end - users restricts the upside [2] - The peanut market has sufficient supply. The overall trading rhythm is dull, and prices are expected to remain stable in the short term. Attention should be paid to the changes in downstream stocking progress before the Spring Festival [3][4] Market Analysis Soybeans - Futures: The closing price of the Dou - Yi 2605 contract yesterday was 4338.00 yuan/ton, up 17.00 yuan/ton or 0.39% from the previous day [1] - Spot: The basis of edible soybeans was A05 + 102, down 17 or 32.14% from the previous day. The spot prices in Northeast China were stable, and the trading enthusiasm in the trade link increased. For example, the loading price of standard first - class 39% protein medium - grain tower grain in Harbin was 2.22 yuan/jin [1] - Market situation: Yesterday, the price of the main soybean futures contract fluctuated upwards. The prices in southern producing areas were stable, with some high - protein soybeans having a price - raising intention but limited actual sales. The downstream inquiry enthusiasm in the sales areas increased, but the transaction focus remained the same. The market is in an oscillating pattern [2] Peanuts - Futures: The closing price of the peanut 2603 contract yesterday was 7906.00 yuan/ton, up 16.00 yuan/ton or 0.20% from the previous day [3] - Spot: The average spot price of peanuts was 8018.00 yuan/ton, up 18.00 yuan/ton or 0.23% month - on - month. The basis was PK03 - 906.00, up 16.00 or 1.80% month - on - month. The national average price of general peanuts was 8000 yuan/jin, up 18 yuan/ton. The purchase prices of oil mills were stable, and the arrival volume decreased in some areas due to snow and rain [3] - Market situation: Yesterday, the main peanut futures contract fluctuated slightly within a narrow range. The domestic peanut market has sufficient supply. The transaction prices in some producing areas increased slightly, but the overall trading rhythm was dull [3] Strategies - For soybeans, the strategy is neutral [3] - For peanuts, the strategy is also neutral [5]