豆一震荡博弈加剧，花生企稳供需僵持

1. Report Industry Investment Rating - The investment strategy for both soybeans and peanuts is neutral [3][6] 2. Core Viewpoints - The soybean market is experiencing significant long - short competition. The supply shortage supports prices, while high prices suppress downstream demand. In the short term, the spot and futures prices of soybeans will maintain a high - level volatile trend, and the spot price will remain firm. Attention should be paid to the progress of national soybean auctions and the arrival rhythm of imported soybeans [2] - In the peanut market, there is a stalemate between supply and demand. The price is expected to stabilize in the short term, and attention should be paid to the procurement rhythm and related dynamics of oil mills [5] 3. Summary by Related Contents Soybean Market Analysis - Futures: The closing price of the Dou - Yi 2605 contract yesterday was 4796.00 yuan/ton, a change of - 60.00 yuan/ton from the previous day, a decrease of 1.24% [1] - Spot: The spot basis of edible soybeans was A05 + 84, a change of + 60 from the previous day, an increase of 32.14%. The spot prices in Northeast China remained stable, with tight supply and strong support from the futures market. For example, the loading price of standard first - class 39% protein medium - grain tower grain in Harbin, Heilongjiang was 2.44 yuan/jin [1] Strategy - The strategy is neutral [3] Peanut Market Analysis - Futures: The closing price of the peanut 2605 contract yesterday was 8188.00 yuan/ton, a change of + 18.00 yuan/ton from the previous day, an increase of 0.22% [3] - Spot: The average spot price of peanuts was 8064.00 yuan/ton, a change of - 18.00 yuan/ton from the previous day, a decrease of 0.22%. The spot basis was PK05 - 1388.00, a change of - 18.00 from the previous day, an increase of 1.31%. The average price of general peanuts in the national market was basically stable, and the contract procurement price of oil - mill peanuts remained stable [3] Strategy - The strategy is neutral [6]