subject: Dalian Soybean Futures Are Expected To Continue Strong Side Of The Short [print this page] Dalian soybean futures closed up 25, the benchmark contract closed 1001, 35 yuan / ton, to 3,661 yuan / ton, market activities, positions increased 38,000 to 280,000 hand-hand about a high level, long promoted the funding of the admission price higher. Analysts believe that the current strong trend in the domestic spot market on the futures market will support, and technical and financial side there are also positive, the market amount to sufficient short-term is expected to continue even stronger soybean trend.
International context, CBOT soybean futures 22 mixed, because of its closed holiday, the market experienced profit taking, down slightly in recent months, contract, contract in July soybeans fell 9 cents / bushel to close at 1,166 U.S. min / bushel; far month contracts closed slightly higher, soybean November contract rose 8 cents to / bushel to close at 1,031.5 cents / bushel.
Argentina State Grain Exchange recently that soybean production estimate for 2008/09 down 600,000 tons to 3,220 million tons, while some analysts expect that the country may be only 3,050 million tonnes of production. South American soybean crop damage, showing that the U.S. soybean situation of off-season sell well. The latest U.S. Department of Agriculture export Sell Report data far exceeded expectations, showing the U.S. soybean exports are still strong, steady demand in China, which increased the confidence of the market bullish. Uncertain weather conditions while also providing the potential for the far month contract favorable. In addition, funds in the soybean futures market will continue to do more, the U.S. Commodity Futures Trading Commission (CFTC) released the latest position report, as of 19 May soybean futures in the week to continue to fund holdings to 119,430 net more than one hand . Shows that the soybean market is still bullish on the Fund. Overall, the U.S. soybean fundamentals are still bullish, plus more than technical interest and capital flows in the United States and beans long pattern of short-term will continue, investors concerned about the impact of weather-producing areas.
Domestically, soybean prices rose steadily in Heilongjiang province, part of the soybean oil plant bid up 40-60 yuan / ton, the whole quote in the 3,440-3,540 yuan / ton, which offer the 3,480-3,540 Harbin Refinery yuan / ton in the eastern region offer the 3,400-3,480 yuan / ton. Producing goods bean price focus 3,500-3,600 yuan / ton, of which Harbin bean purchase price of goods to 3,520-3,700 yuan / ton. Traders buy oil plant and the current difficulty is still greater, due to the gradual reduction of surplus grain producing areas, soybeans, farmers reluctant sellers, serious psychological, not a price the market situation in the city are obvious. In addition, the port side, the domestic price of the port distribution of soybean imports to remain stable, the overall offer in the 3,550-3,600 yuan / ton, including distribution of Guangdong imported soybean prices in the 3,600 yuan / ton, port stocks at 300 million tons. Currently in June the cost of sailing soybean imports to Hong Kong has reached 4,100 yuan / ton, much higher than the domestic price of purchasing and storage prices and port distribution, which is the formation of positive domestic soybean market. Meanwhile, the impact of the acquisition by the State Reserve, producing soybean surplus would gradually become more tense, domestic soybean prices are expected to maintain strong short-term.
Futures market, Dalian soybean futures rebounded bottom 25 to close up. The benchmark contract position 1001 increased 38,000 to 280,000 hand-hand about high market activities. Technical level, the average system upward divergence, MACD indicators Hongzhu older, the market volume to adequate Soybean expected short-term trend will continue on the strong side, concerned about the top 3,700 yuan / ton Department of resistance to the situation.
