Futures products debut at Zhengzhou Commodity Exchange peanut industry has a price "vane"

As the Spring Festival approaches, the futures market is also lively. Following the listing of hog futures in January, peanut futures were successfully listed on the Zhengzhou Commodity Exchange on 1 February. This is the second commodity futures listed this year.

"In addition to apples and dates, now peanuts have been added, and the futures market is about to make up for the special purchases for the Spring Festival." An investor joked to a reporter from the Shanghai Securities News.

From the perspective of the industry, the greater significance of the listing of peanut futures is that it can form a linkage with the listed vegetable oil futures, promote the improvement of the oil and oil seeds market system, and ensure the safety of our country's oil and oil seeds products.

According to the ZCE announcement, the first batch of trading contracts for peanut futures listed are PK2110, PK2111, PK2112, PK2201, and the listed benchmark price is 9,350 yuan/ton.

On the first day of listing, peanut futures ushered in a good start. After the call auction, the dominant contract PK2110 opened at 9866 yuan/ton, the highest price was 10630 yuan/ton, and the closing price was 10504 yuan/ton, an increase of 12.34%. Other contracts rose by more than 12%, and the PK2201 contract once hit the limit-up.

In terms of transactions, the 4 peanut futures contracts traded a total of 540,100 hands, with a turnover of 27.943 billion yuan and open interest of 49,100 hands. Among them, the trading volume of the dominant contract PK2110 was 521,600, and the open interest was 45,000, accounting for 96.56% of the total trading volume of peanut futures that day, and the total trading volume of the dominant contract was 26.997 billion yuan.

Bian Shuyang, an agricultural product analyst at Nanhua Futures, told the Shanghai Securities News that the peanut contracts on the first day of listing tended to be consistent, but they still showed a pattern of far-month premiums. Investor participation is high and transactions are active. It is expected that the long sentiment may continue to ferment in the past week, and then peanut futures prices will become more rational, realizing the basic functions of forward price discovery and risk transfer.

With the listing of peanut futures, the country's first batch of peanut processing companies "insurance + futures" insurance policies have also been released. On 1 February, the first national peanut "insurance + futures" price insurance jointly launched by Huatai Futures and Pacific Property Insurance Henan Branch was successfully implemented in six cities in Henan Province. The project underwrites a total of 1,130 tons of peanuts, and the intraday price of peanut futures PK2110 on the first day of listing is used as the insurance price. The project adopts an enhanced Asian-style bearish spread structure, and the insurance period is from 1 February to 1 March to fully protect the peanut planting income of the insured farmers.