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    Home > Active Ingredient News > Feed Industry News > Suggestions on the resumption of corn futures trading in Dalian Commodity Exchange

    Suggestions on the resumption of corn futures trading in Dalian Commodity Exchange

    • Last Update: 2002-03-13
    • Source: Internet
    • Author: User
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    Introduction: in the new situation of further deepening the reform of grain circulation system and China's accession to the WTO and gradual opening of the market, it is necessary to resume the corn futures trading as soon as possible in order to promote the development of corn spot market, improve the market system, enhance the market competitiveness of corn industry and steadily increase the income of farmers The annual output of corn in China is more than 100 million tons, which plays an important role in agricultural production and has an important influence on the world corn market At present, the corn produced in most areas of the country has been withdrawn from the scope of protection price acquisition The price of corn fluctuates greatly, and farmers and related business enterprises are faced with greater market risks In particular, as the main corn producing area in China and the three northeastern provinces that have made great contributions to China's grain production, the domestic corn sales are not smooth, the exports are blocked, and the backlog is serious The advantages of regional traditional production have become market disadvantages, the so-called "new northeast phenomenon" has appeared, and the local finance and farmers' income have been greatly affected This urgently requires a powerful market organization form to form authoritative prices, communicate production and marketing relations, and provide risk aversion channels From the practice of other agricultural products at home and abroad, it is one of the effective ways to solve this problem by using futures market as a market organization form and trading system The resumption of corn futures trading can form a unified, transparent and authoritative market price, provide farmers and enterprises with management decision-making reference, promote the adjustment of agricultural planting structure, provide effective market tools for the country to strengthen the macro-control of grain, provide risk export for order agriculture, provide effective means of preserving value for enterprises, promote the circulation of corn spot and promote The formation of a good market order In the international market, corn futures trading has become the main means of bulk corn trade The practice of domestic soybean futures market has proved that futures market is one of the effective ways to solve the relevant problems in the process of agricultural products marketization The resumption of corn futures trading does not conflict with the protective price purchase policy On the one hand, the quality standard of delivery benchmark of corn futures contract is higher, and the futures price will be higher than the purchase price of the state to farmers, which will help guide farmers to grow high-quality corn and increase farmers' income On the other hand, the main participants in the corn futures market are trading companies, foragers and corn deep-processing enterprises The futures price generated by their bidding reflects the long-term circulation price, which can also ensure that it is higher than the state's purchase price for farmers Therefore, the resumption of corn futures trading will not affect the implementation of the protection price purchase policy At present, China's futures market has entered the stage of standardized development The national "Tenth Five Year Plan" clearly proposes to "steadily develop the futures market" The national financial working conference held this year also proposes the requirements of steadily developing the futures market and gradually increasing the varieties of futures Corn has become one of the listed varieties that the majority of cash processing enterprises and futures investors call for Dalian is one of the most important grain distribution centers and trading centers in Northeast Asia, with superior geographical location, convenient land and water transportation, developed storage industry, and backed by the main corn production area in Northeast Asia In recent years, Dalian Commodity Exchange has been adhering to the standard and steady operation, and the market function has played a good role, which has been widely approved by the industry and abroad At present, it has developed into the world's second largest soybean futures market after Chicago futures market In practice, Dalian Commodity Exchange has formed a complete set of risk control system, which can effectively control and avoid the occurrence of market risk From 1993 to 1999, Dalian Commodity Exchange successfully listed corn futures, and now it has made full preparations for the resumption of corn futures trading In view of the development of corn spot market and the operation of domestic futures market, we suggest to resume corn futures trading in Dalian Commodity Exchange as soon as possible [the proposal was put forward by Li jingmou (director of Zhengzhou grain wholesale market, China) at the fifth session of the Ninth National People's Congress]
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