Peanut, peanut oil and peanut meal trading summary and analysis forecast (week 49, 2024)

01 Peanuts

In the 49th week (December 2-December 6, 2024), the national average price of peanuts is 8,633 yuan/ton. The prices of peanuts in various regions are shown in the following table:

Weekly Review:

This week, the price of peanuts and groundnuts has been stable with a slight decline. The price of domestic peanut market has weakened, the demand is not strong, and it is difficult to ship. Some traders have quoted high prices and sold low prices, and the transaction price has fallen. At the same time, the purchase price has also followed the weakness. The main reason is that my country's peanut production has been good this year, and the supply is relatively loose, which is bearish for the peanut market. The weak operation of soybean oil has dragged down the peanut market. The operating rate of oil mills has been slightly increased, but peanuts are in the seasonal accumulation stage, the profit of oil mills is still at a loss, and the market sales volume continues to be light.

It is expected that the price of peanuts will continue to fluctuate weakly in the short term. The purchase of oil mills in the market has weakened, the market atmosphere is not good, the supply of peanuts is relatively loose, and the large oil mills purchase imported rice, which suppresses the peanut market, so peanuts may be weak.

02 Peanut oil

In the 49th week (December 2-December 6, 2024), the national average price of peanut oil is: 15,550 yuan/ton, first-grade ordinary peanut oil is 14,300 yuan/ton; small-pressed fragrant peanut oil is 16,800 yuan/ton. The reference prices are as follows:

Weekly Review:

This week, the prices of ordinary peanut oil and small-pressed fragrant peanuts fell. In terms of demand, the sales speed of peanut oil is still acceptable, which supports the peanut oil market. In terms of supply, the operating rate of oil mills has increased slightly, but peanuts are in the seasonal accumulation stage, and the supply of peanut oil is sufficient. 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 peanut oil may remain stable. Stocking up before the Spring Festival may have to start in advance, and there is still room for peanut oil to rise.

03 Peanut meal

The reference prices of peanut meal in various regions in Week 49 (December 2-December 6, 2024) are as follows:

Weekly Review:

The price of peanut meal fell this week. The discount of Brazilian soybeans declined, and the meal category was weak, which dragged down peanut meal. The peanut meal warehouses of oil mills were bulging, which led to the continued price cuts by oil mills to reduce inventory. On the supply side, the operating rate of oil mills was high, and the supply of peanut meal was relatively sufficient. On the demand side, the sales speed was not fast, and the demand was average. 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 further.