Newsletter summary
Corn futures prices are under pressure.VideopokersoftwareformacSoybean meal wide shock continued, oil in September more than single holding, eggs recommended short-term interval operation, pig short-term price shock.
Text of news flash
[corn futures fluctuated for four consecutive days, futures prices fell] on Tuesday, the corn market continued to fluctuate, with the main 2409 contract basically flat for four consecutive days.VideopokersoftwareformacThe market closed. Spot corn prices are mixed, traders hold a wait-and-see attitude, the price trend is stable. The market price in the northeast region does not fluctuate much, and traders in the production areas have different views on the future. While some traders cherish selling at low prices, some choose to actively ship goods. The arrival volume of deep processing enterprises has increased, but the operating rate has declined and prices have also fallen. With the advance of spring ploughing and spring sowing, the amount at the grass-roots level has gradually decreased, and prices are expected to remain stable. Corn prices in North China have gone up and down, and the prices of Shandong deep processing enterprises have generally been reduced by 6-20 yuan per ton. Henan deep processing delivery decreased, enterprise prices increased by 20-40 yuan / ton, grass-roots prices increased slightly. The operation of the market in the sales area is stable, the quotations of traders remain stable, and downstream feed enterprises replenish the stock on demand. Technical analysis shows that the corn contract in May fluctuated around 2380 yuan, the main 2407 contract was suppressed by the moving average, and the futures price showed a downward trend. In arbitrage operation, you can pay attention to the arbitrage opportunity of buying 9 and selling 1. [soybean meal futures continued wide volatility] on Tuesday, CBOT soybean prices closed higher, following the rally in the wheat market, short covering and technical buying were the main drivers. The market expects that the wet weather in the central and western regions in the coming week will lead to a slowdown in sowing activities. Both American soybean meal and soybean oil rose last week. Previously released crop reports showed that the planting rate of adzuki beans was 8%, exceeding market expectations of 7%. The agency continued to raise Brazil's soyabean production estimates to 96 million tonnes, but down 6 per cent from the same period last year. Domestic soybean meal futures maintained a wide concussion trend, the arrival of soybeans to Hong Kong increased, the crushing volume of oil plants increased, the inventory of soybeans and soybean meal increased, and the spot basis was under pressure. The market expects that the wide shock pattern of soybean meal will continue, and the operation will be dominated by unilateral intra-day. The price of palm oil in Malaysia rose on Tuesday, boosted by hot weather and strong export data. Malaysia's Palm Oil Authority (MPOB) announced that it would leave the tariff unchanged at 8 per cent in May. Indonesia's trade ministry said exports were below the monthly average in February and March and were expected to resume in April. The price of crude oil is running strongly because of tension in the Middle East. A possible dry growing season in Canada and strong buying support from crushers pushed ICE rapeseed prices to a two-week high. The late spring cold in rapeseed producing areas in Europe has also boosted the market. Domestically, the spot prices of the three major fats and fats generally rose, led by rapeseed oil, and followed by soybean oil and palm oil. The outer disk stabilized and rose, and short funds concentrated and left, boosting the price of the disk. Procurement activities are still going on before May Day, and there is little pressure on oil terminal inventory, and it is expected that the stock will be postponed to May. In operation, it is recommended to hold more than one order in September. [egg futures main contract bottom range concussion, recommended short-term range fluctuation operation] on Tuesday, the spot price of eggs remained stable, and the futures main 2409 contract hit the upper edge of the concussion range and closed down 0 per day.Videopokersoftwareformac.47% to close at 3806 yuan / 500kg; 2405 contract closed down 1.Videopokersoftwareformac.28%, 2924 yuan / 500kg. Data show that yesterday, the national egg price 3.29 yuan / jin, month-on-month flat. Sales area market is mainly to remove inventory, wholesale prices in most markets are stable for the time being, and a few adjust wholesale prices slightly according to the purchase and sales situation. At present, the market shows a bottom range shock trend, if the May Day holiday demand boost is effective, the main contract has rebounded demand; on the contrary, the market may enter the plum rainy season egg prices fall. Suggest short-term interval fluctuation operation, pay attention to the start-up of terminal demand during the May Day holiday and the impact of changes in surrounding commodity prices on the market. [pig futures prices show a volatile trend in the short term] on Tuesday, LH2409, the main contract for live pig futures, increased its positions and fell 2.31% on the day. In the spot market, the whole national pig market is stable, Guangxi and Jiangxi pig prices are stable, Hunan and Anhui pig markets are stable, and Hubei and Guangdong pig prices fluctuate slightly. Northern enterprises have a slight volume, near May Day terminal consumption has recovered, coupled with terminal stock is expected to start, the market may have moderate price sentiment, short-term supply and demand stalemate, pig prices decline is limited. Some southern provinces are affected by heavy rainfall, market trading is blocked, but the breeding end has a certain pull mood, consumption is also affected by the weather, the market is stable and slightly stronger. Technically, pig-weighted contracts hold 152000 hands, 20, 000 fewer than the recent high of 170000, reducing capital holdings and increasing the risk of price adjustment. In terms of news, there are differences in the data of sows in March, both the long and short sides are anxious, and short-term prices are expected to continue to show a volatile trend.