01 Peanuts 

Week 47 (November 17-21, 2025): Domestic peanut prices initially declined before rising, with divergent performance across different producing regions. While speculative sentiment played a role in the price movements, the actual supply and demand fundamentals remained weak, requiring a cautious approach in the long term.

Weekly Review:

The current peanut market exhibits regional differentiation: In Northeast China, prices are supported by vendors holding onto their stock in anticipation of higher prices, farmers' reluctance to sell, and tight supply at the grassroots level. However, upward momentum is insufficient. On the one hand, vendors' inventories are saturated, making high-price buying unlikely, and sorting plants are unwilling to further raise prices to control costs. On the other hand, end-consumer demand is weak, with traders purchasing only as needed and cautious about chasing price increases. Furthermore, peanut prices in Henan are 2000 yuan/ton lower than in Northeast China, offering a significant cost-performance advantage and diverting some demand. Henan, on the other hand, benefits from increased oil mill operating rates and faster consumption of oilseed kernels, limiting further price declines. However, significant differences in product quality, with inferior quality dragging down prices for good quality, coupled with lower quality compared to Northeast China, also hinders price increases.

In the short term, both the Northeast and Henan peanut markets are in a state of "lack of upward momentum and support for declines," with prices mainly fluctuating within a small range. In the medium to long term, risks need to be monitored: high prices in the Northeast are suppressing demand; if supplies are consumed slowly, vendors may weaken their price-holding mentality after mid-to-late December due to loan repayment pressures; and after the busy farming season ends next week in Henan, the effective supply is expected to increase, which will impact the Northeast market.

02 Peanut Oil

In week 47 (November 17-21, 2025), the national average price of peanut oil was 15,913 yuan/ton. Reference prices are as follows:

Weekly Review:

The peanut oil market price was relatively stable this week. Sales were slow, mainly due to weak demand influenced by the overall economic environment. With the new peanut season gradually entering the market, oil mill operating rates are gradually increasing, leading to a gradual easing of supply. Currently, international edible oil prices are weak, dragging down peanut oil market prices. In the short term (1-2 months), peanut oil prices are likely to remain stable.