Disk trend: PK2110 opened at 10510, closed at 10480, +0.02%, trading volume was 8503 hands, open interest was 12264, -130; the monthly spread of PK2110-2201 was 194, -6.

News: 1. The food price index compiled by the Food and Agriculture Organization of the United Nations has been rising for nine consecutive months, reaching 116 points in February, which is the highest level since July 2014. International sorghum prices rose 82.1% year-on-year, international corn prices rose 45.5% year-on-year, and wheat prices rose 19.8% year-on-year.

Market price: Yanzhou, Shandong: peanut kernels with 43% oil and 9% moisture, the price is 9,500. Shijiazhuang, Hebei: Peanut kernels with 43% oil and 9% moisture, the price is 9500. (Unit: Yuan/Ton)

Warehouse receipt: 0 lot of warehouse receipt.

Main positions: peanuts top 20 long positions 6738, -1672; short positions 7021, -1059, net positions +283. (Unit: hand)

View summary: At present, there are few peanuts in circulation in the market, and at high prices, the grassroots have a feeling of reluctance to sell. The operating rate of downstream crushing plants is slowly increasing, but it is still low. As of March 19, the operating rate of 57 processing companies spot-checked by Tianxia Granary was 14.13%, an increase of only 0.09% from last week. The supply and sales of the market are weak, and the industry is about to enter the off-season in April, which will be under certain pressure. Against the background of global credit expansion and inflation expectations, the rise in grain and oil prices is a general direction, and the price of peanuts will maintain a long-term upward trend. On the disk, the US soybeans still oscillated at a high level. The main domestic oils such as Zhengyou have ended the downward trend, and peanuts have also risen slightly. It is recommended to observe whether there are signs of rebound in the later period. The intraday trading volume of the PK2110 contract dropped to 8503, setting a new record since its listing. The open interest is also at a low point. The focus on funds continues to decline, and attention should be paid to control risks. Operationally, it is recommended that the PK2110 contract contract leave the market with a short order, and enter the market with more orders after breaking through 10600.

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