Peanut, peanut oil and peanut meal trading summary and analysis forecast (week 47, 2024)

01 Peanut 

In the 47th week (November 18-November 22, 2024), the national average price of peanuts is 8,692 yuan/ton. The prices of peanuts in various regions are shown in the following table:

Weekly Review:

This week, the price of peanuts was stable with a slight decline. The price of peanuts in Henan was weak, and the price of peanuts in Northeast China was weak. The negative factors are: first, my country's peanut production has increased this year. In November, new peanuts were put on the market in large quantities, and the supply was loose. Second, rapeseed and soybeans were weak, dragging down the peanut market. Third, consumption was downgraded, the demand for peanut oil was poor, and terminal consumption was not smooth. The positive factors are: first, the oil mills have good profits from pressing. Recently, the oil mills have been actively purchasing, the operating rate has increased, and they have begun to purchase peanuts. Second, farmers are reluctant to sell and have a strong willingness to support prices, which is good for the peanut market.

It is expected that the price of peanuts will continue to fluctuate weakly in the short term. Oil mills have begun to enter the market for purchases, and the market atmosphere has gradually tended to boost the market, but the supply has tended to be loose, and large oil mills have purchased imported rice, which has suppressed the peanut market, so peanuts may be weak.

02 Peanut Oil 

In the 47th week (November 18-November 22, 2024), the national average price of peanut oil is: 15,650 yuan/ton, first-grade ordinary peanut oil is 14,300 yuan/ton; small-pressed fragrant peanut oil is 17,000 yuan/ton. The reference prices are as follows:

Weekly Review:

This week, the price of peanut oil rose. Downstream demand for peanut meal was weak, and the sales speed was not fast. In order to maintain the profit of crushing, the oil mills were willing to support the price of peanut oil. In terms of demand, the sales speed of peanut oil was acceptable, which supported the peanut oil market. It is expected that in the short term, the price of peanut oil is likely to remain stable and fluctuate. The oil mills are willing to support the price, which supports the peanut oil market. The bumper harvest of peanuts and the increase in peanut oil production are bearish for the peanut oil market. The supply is strong and the demand is strong, so the price of peanuts is likely to remain stable.

03 Peanut Meal

The reference prices of peanut meal in various regions in Week 47 (November 18-November 22, 2024) are as follows:

Weekly Review:

This week, the price of peanut meal rose slightly. The price of rapeseed meal has continued to fall recently, and the substitution effect is obvious. The price advantage of peanut meal has weakened, and some oil mills have peanut meal storage. In terms of supply, the recent crushing profit is good, the oil mill oil mill operating rate is high, and the supply of peanut meal is relatively sufficient. In terms of demand, the speed of goods is not fast, and the demand is general. However, the oil mills are willing to support the price, which supports the price of peanut meal. It is expected that the price of peanut meal will be stable in the short term, and the possibility of fluctuation is relatively high. The price of the peanut market is fluctuating and adjusting. The supply of peanut meal is sufficient in the near future, and the price of peanut meal may fall.