Group 1: Report Overview - The report is a peanut daily report dated January 14, 2026, focusing on peanut market data, analysis, and trading strategies [1] Group 2: Futures and Spot Market Data Futures Market - PK604 closed at 7826, down 26 (-0.33%), with a trading volume of 28,762 (up 41.60%) and an open interest of 32,408 (down 6.44%) - PK610 closed at 8240, down 6 (-0.07%), with a trading volume of 120 (down 76.61%) and an open interest of 2,686 (up 1.78%) - PK601 data was unavailable [2] Spot Market - In the spot market, prices in Henan were stable, while those in Northeast China were weak. For example, 308 common peanuts in Fuyu, Jilin were 4.55 yuan/jin, down 0.05 yuan/jin from the previous day, and in Changtu, Liaoning, it was 4.55 yuan/jin, stable from the previous day. In Henan, Baisha common peanuts were quoted at 3.6 - 3.8 yuan/jin, stable from the previous day, and in Junan, Shandong, it was 3.5 yuan/jin, also stable [4] - Imported peanut prices were stable. Sudan refined peanuts were 8600 yuan/ton, Brazilian new peanuts were 9200 yuan/ton, and Indian 50/60 specification peanuts were 8000 yuan/ton, all stable from the previous day [4] - Peanut oil prices were stable. Domestic first - grade ordinary peanut oil was quoted at 14300 yuan/ton, and small - pressed fragrant peanut oil was 16500 yuan/ton, both stable from the previous day [4][6] - By - product prices: Rizhao soybean meal spot price was 3100 yuan/ton, down 10 yuan/ton from the previous day. Peanut meal was relatively strong in the short term, with 48 - protein peanut meal quoted at 3100 yuan/ton [6] Basis and Spread - The basis for Henan Nanyang peanuts was - 426, and for Shandong Jining and Linyi peanuts was 574. The difference between soybean meal and peanut meal was - 4, and the difference between peanut oil and soybean oil was 5940 [2] - The PK04 - PK10 spread was - 414, down 20, while the PK01 - PK04 and PK10 - PK01 spreads were unavailable [2] Group 3: Market Analysis - Peanut prices were expected to be relatively stable in the short term. Supply was increasing, but downstream demand was still weak. The spread between oil - used peanuts and commodity peanuts was large, and the spread between Henan and Northeast common peanuts was at a high level [4][8] - Peanut oil and peanut meal prices were stable, and oil mills' theoretical profit was good. The market was trading on the relatively low import cost of Senegalese peanuts, but the warehouse receipt cost was expected to be relatively high [8] Group 4: Trading Strategies - For single - side trading, it was recommended to go long on 05 peanuts at low prices as they were expected to oscillate at the bottom [9] - For spread trading, it was recommended to wait and see [10] - For options trading, it was recommended to sell the pk603 - P - 8200 option at high prices [11] Group 5: Related Attachments - The report included six figures, showing Shandong peanut spot prices, peanut oil mill profit, peanut oil prices, peanut spot - futures basis, peanut 4 - 10 contract spread, and peanut 1 - 4 contract spread [13][19][21]

Group 1: Report General Information - Report Name: Peanut Daily Report [1] - Date: October 27, 2025 [1][2] - Researcher: Liu Dayong [1] - Futures Practitioner Certificate Number: F03107370 [1] - Investment Consulting Certificate Number: Z0018389 [1] Group 2: Industry Investment Rating - No investment rating information provided Group 3: Core Viewpoints - Peanut spot prices are expected to be relatively weak in the short - term, with supply increasing and downstream demand remaining weak. Futures will continue to oscillate at the bottom, but the far - month peanuts may be stronger, and peanut 01 will oscillate strongly [4][8] - Peanut oil spot prices are stable, peanut meal has been stable recently, and the theoretical profit of oil mills from pressing is decent [8] Group 4: Data Summary Futures Disk | Futures | Closing Price | Change | Change Rate | Trading Volume | Increase/Decrease Rate | Open Interest | Increase/Decrease Rate | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | PK604 | 7922 | 8 | 0.10% | 512 | 16.89% | 1,690 | 23.63% | | PK510 | 8138 | 38 | 0.47% | 52 | - 18.75% | 425 | 3.91% | | PK601 | 7820 | 32 | 0.41% | 81,351 | - 11.27% | 182,998 | - 3.51% | [2] Spot and Basis | Spot | Henan Nanyang | Shandong Jining | Shandong Linyi | Rizhao Peanut Meal | Rizhao Soybean Meal | Peanut Oil | Rizhao First - Grade Soybean Oil | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | Today's Quote | 8600 | 8400 | 8400 | 3250 | 2950 | 14580 | 8400 | | Change | 0 | 0 | 0 | 0 | 0 | 0 | 30 | | Basis | 780 | 580 | 580 | Soybean Meal - Peanut Meal (-1) | | Peanut Oil - Soybean Oil (6180) | | | Import Price: Sudanese rice 8500 (change 0), Senegalese rice price not provided (change 0) [2] Spread | Peanut Inter - Period Spread | Change | Peanut Inter - Period | Spread | Change | Peanut Inter - Period | Spread | Change | | ---- | ---- | ---- | ---- | ---- | ---- | ---- | ---- | | PK01 - PK04 (-102) | 24 | PK04 - PK10 | - 216 | - 30 | PK10 - PK01 | 318 | 6 | [2] Spot Price of Peanuts - Northeast Jilin Fuyu 308 general cargo: 4.1 yuan/jin, stable compared to yesterday - Liaoning Changtu: 4.1 yuan/jin, stable compared to yesterday - Henan production area Baisha general cargo rice: 3.8 - 3.9 yuan/jin, stable compared to yesterday - Shandong Junan: 4.05 yuan/jin, stable compared to yesterday - Imported Sudan refined new rice: 8600 yuan/ton, stable compared to yesterday - Senegalese oil rice: 7600 yuan/ton, stable compared to yesterday [4] Peanut Oil and By - product Prices - Mainstream transaction price of peanut oil procurement by some oil mills: 7800 - 7900 yuan/ton, theoretical break - even price of oil mills: 7920 yuan/ton - Domestic first - grade ordinary peanut oil: 14500 yuan/ton, stable compared to yesterday - Small - pressed fragrant peanut oil: 16500 yuan/ton, stable compared to yesterday - Rizhao soybean meal spot: 2950 yuan/ton, up 10 yuan/ton compared to yesterday - 48 - protein peanut meal: 3200 yuan/ton [4][6] Group 5: Market Analysis - Henan peanut prices are falling, while Northeast peanut prices are stable. Peanut spot prices are expected to be relatively weak in the short - term [4] - Some peanut oil mills have started purchasing, with stable peanut oil and soybean oil prices. The by - product Rizhao soybean meal spot is strong, while peanut meal is weak in the short - term [4][6] Group 6: Trading Strategies Unilateral - Peanuts 01 and 05 are oscillating at low levels, and one can go long with a light position in the short - term [9] Inter - Month Spread - Hold a wait - and - see attitude [10] Options - Sell and hold pk601 - P - 7600 [11] Group 7: Related Attachments - Figure 1: Shandong peanut spot price (unit: yuan/ton) - Figure 2: Peanut oil mill pressing profit (unit: yuan/ton) - Figure 3: Peanut oil price (unit: yuan/ton) - Figure 4: Peanut spot and continuous contract basis (unit: yuan/ton) - Figure 5: Peanut 10 - 1 contract spread (unit: yuan/ton) - Figure 6: Peanut 1 - 4 contract spread (unit: yuan/ton) [15][21][24]

Group 1: Report Overview - The report is a peanut daily report dated October 15, 2025, from the Commodity Research Institute's Agricultural Product R & D Report [1][2] Group 2: Data Summary Futures Market - PK604 closed at 8108, up 66 (0.81%), with a trading volume of 445 (-45.60%) and an open interest of 1,314 (10.14%) [2] - PK510 data is unavailable [2] - PK601 closed at 8062, up 52 (0.65%), with a trading volume of 124,355 (-26.10%) and an open interest of 186,194 (14.40%) [2] Spot Market and Basis - Spot prices in Henan Nanyang, Shandong Jining, and Shandong Linyi were 8800, 8400, and 8400 respectively, with no change [2] - Import prices for Sudanese rice were 8600 and Senegalese rice were 7800, with no change [2] - The basis for Henan Nanyang, Shandong Jining, and Shandong Linyi were 738, 338, and 338 respectively [2] Spreads - The PK01 - PK04 spread was -46, down 14 [2] Group 3: Market Analysis Peanut Prices - Peanut prices in Henan and Northeast China were stable. The expected short - term trend for peanut spot is relatively strong [4] - The price of some peanut oil mills' purchases before suspension was 7800 - 7900 yuan/ton, and the theoretical break - even price was 7940 yuan/ton [4] - Peanut oil and soybean oil prices were stable, with domestic first - class ordinary peanut oil at 14500 yuan/ton and small - pressed fragrant peanut oil at 16500 yuan/ton [4] By - products - Rizhao soybean meal was slightly weaker, at 2930 yuan/ton (up 10 yuan/ton from yesterday), and peanut meal was short - term weak due to a high unit protein price difference with soybean meal [7] Group 4: Core View - Supply is still low, and downstream demand is weak. In the short term, peanut prices will be relatively stable. The peanut futures market may experience short - term narrow - range fluctuations. The new - season peanut production is expected to be similar to last year, and the planting cost has decreased. The 01 contract of peanuts will still show a strong - side shock [9] Group 5: Trading Strategies Unilateral Trading - The 01 and 05 peanut contracts are in a low - level shock. Traders can take long positions on pullbacks with a light position [10] Spread Trading - Traders should wait and see for spread trading [11] Options Trading - Sell and hold the pk601 - P - 7600 option [12] Group 6: Related Charts - The report includes six charts showing data such as Shandong peanut spot prices, peanut oil prices, and contract spreads [14][21][24]