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The domestic peanut market remains in a fluctuating adjustment trend, with supply still strong and demand weak.

K-LinePoet
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At the end of May and the beginning of June, the domestic peanut market remained in a volatile and adjustment phase. In some producing areas, the downward trend was clearly evident, while the market continued to see strong supply and weak demand, leaving confidence low. Recently, all major oil mills have stopped purchasing, and some oil mills have frequently lowered their procurement prices, further suppressing market confidence. In the current period, peanut market prices have continued to follow a weak-adjustment trend, forming a sharp contrast with last year’s “rising, rising, rising” market conditions during the same period. At present, market demand is in the off-season. As temperatures rise sharply in producing areas—especially in the Northeast—peanuts are highly prone to spoilage. Some farmers in producing areas have begun to concentrate on clearing their inventories and selling, which further increases available sources at the grassroots level. However, overall procurement and sales remain subdued. In the short term, the domestic peanut market may continue to see a volatile adjustment trend, and in some producing areas such as the Northeast, a round of bottoming-out rebounds is not ruled out. (Grain and Oil Market Report)
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