豆一承压震荡，花生偏弱运行

Report Industry Investment Rating - The investment rating for both soybeans and peanuts is neutral [3][5] Core Viewpoints - The soybean futures price is under pressure and oscillating. Although the futures decline suppresses market sentiment, the low remaining grain in the grassroots level supports the spot market. The terminal demand has not improved, and soybean auctions often end in failure. With new spring grains coming onto the market and storage difficulties increasing, the upward pressure on soybean prices is rising, but the downward space is limited due to cost and policy support [1][2] - The peanut futures price is weakly oscillating. As the Tomb - Sweeping Festival approaches and temperatures rise, some grassroots sources are more willing to sell. The demand in the food processing sector is still weak, and the peanut price is expected to remain in a weakly oscillating pattern in the short term [3][4] Market Analysis of Soybeans - Futures and Spot Price: The closing price of the soybeans 2605 contract was 4655.00 yuan/ton, a change of - 115.00 yuan/ton (-2.41%) from the previous day. The edible soybean spot basis was A05 + 225, a change of +115 (+32.14%) from the previous day [1] - Market Information: Northeast soybean spot prices were stable. Affected by the weakening futures, some traders were more willing to sell, but the tight grassroots grain source supported the spot. The purchase intention of downstream enterprises was weak, and soybean auctions often failed [1][2] - Price Forecast: With new spring grains coming onto the market and storage difficulties increasing, the upward pressure on soybean prices is rising, but the downward space is limited due to cost and policy support [2] Market Analysis of Peanuts - Futures and Spot Price: The closing price of the peanut 2605 contract was 8238.00 yuan/ton, a change of +50.00 yuan/ton (+0.61%) from the previous day. The peanut spot average price was 8055.00 yuan/ton, with no change. The spot basis was PK05 - 1438.00, a change of -50.00 (+3.60%) from the previous day [3] - Market Information: The national average price of common peanuts was 8055 yuan/ton, down 18 yuan/ton. The purchase price of oil - processing peanuts by oil mills was generally stable, and some mills relaxed procurement standards [3] - Price Forecast: As the Tomb - Sweeping Festival approaches and temperatures rise, some grassroots sources are more willing to sell. The demand in the food processing sector is still weak, and the peanut price is expected to remain in a weakly oscillating pattern in the short term [3][4] Strategies - The strategy for both soybeans and peanuts is neutral [3][5] Figures - Soybean - related Figures: Include the price of the main soybean contract, soybean spot prices in different regions, soybean spot basis, price spreads between different contracts, China's soybean production, food - grade consumption, and ending inventory [6] - Peanut - related Figures: Include the price of the main peanut contract, peanut spot prices in different regions, peanut spot basis, price spreads between different contracts, China's peanut production, consumption, inventory, import volume, planting net profit, and planting cost [6]