Northeast China: corn breakthrough hopes for market hand

Introduction: To explore a feasible way to solve the "new northeast phenomenon" and to resume the corn futures trading of Dalian Commodity Exchange In fact, long before the media competed to discuss the "new northeast phenomenon" caused by the "northeast corn phenomenon", the party and government leaders in the northeast corn production area were struggling to find a good solution to the problem Dalian Commodity Exchange, which has been paying attention to the corn production and market trend in Northeast China, once again tried to start the corn futures trading which has been interrupted for many years, to solve the market bottleneck that twined the corn production in Northeast China with the most effective trading form to promote the circulation of bulk agricultural products The move immediately attracted the attention of the Dalian Municipal Government where the commodity exchange is located and the leaders of Jilin provincial government in the main corn producing area The leaders of the two places jointly proposed suggestions to the leaders of the State Council to resume corn futures trading in the Dalian Commodity Exchange Soon, the main leaders of Liaoning Province, Jilin Province, Heilongjiang Province and Inner Mongolia Autonomous Region jointly signed, and again proposed to resume the corn futures trading as soon as possible Therefore, whether we can use the market hand to reverse the market disadvantage of corn in Northeast China by resuming the corn futures trading interrupted by Dalian Commodity Exchange for many years, and then explore a feasible way to solve the "new northeast phenomenon", has attracted the keen attention of all aspects of society China is the second largest corn producer in the world, with an annual output of more than 100 million tons At present, the corn produced in most areas of the country has been withdrawn from the scope of national protection price acquisition The price of corn fluctuates greatly The farmers, circulation enterprises and related business enterprises engaged in planting are facing more and more risks In particular, the three northeastern provinces and Inner Mongolia Autonomous Region, the main corn producing areas in China, have made great contributions to China's grain production But in recent years, with the change of domestic market and the impact of international corn market, it is difficult to sell corn in three provinces and one district Domestic sales are not smooth, coupled with export obstacles, the traditional production advantage has become a market disadvantage, and has evolved into a "new northeast phenomenon" with "northeast corn phenomenon" as a typical one The direct consequence is to affect the local fiscal revenue and farmers' income How to enhance the market competitiveness of China's corn industry, turn the product advantage of the main corn producing areas into market advantage, so as to revitalize the corn industry and increase the income of local and farmers has become an urgent problem to be solved Qu Lifeng, deputy general manager of Dachang Institute, who has been busy restoring corn futures trading, made a detailed introduction and analysis to reporters He said that in the international market, corn is one of the traditional and most successful futures varieties This trading method has become the main means of bulk corn trade According to reports, at present, the Chicago Futures Exchange has formed a trading center, a price center and an effective risk aversion center in the international corn market It not only determines the international corn trade price, but also plays an important role in promoting the development of American corn industry From the perspective of domestic market, from 1993 to 1998, corn was the most influential and active futures in China When the transaction was active, dashangsuo closed 660000 transactions a day, with a volume of more than 10 billion At that time, because there were many futures markets and nonstandard management, there were some problems such as rising corn price and loss of state-owned grain enterprises in the futures market Therefore, in 1998, the state began to rectify and cancel the futures trading of corn But now the situation has changed a lot The supply of corn is more than the demand, and the price is lower Especially after the State Council determined the new grain reform policy of "opening up the sales area, protecting the production area, taking the responsibility of the provincial governor and strengthening the regulation and control" in August 2000, the degree of corn marketization is further improved, and the risk of farmers' planting, circulation and processing enterprises is increased, which urgently needs a market The organization forms the authoritative price, communicates the relationship between production and marketing, and establishes the mechanism to avoid the price risk And the futures market just adapted to this demand It can form a unified, transparent and authoritative market price for farmers and enterprises, promote the adjustment of agricultural planting structure, and provide effective market signals for the country to strengthen the macro-control of grain; it can broaden the circulation channels of corn, provide effective means for enterprises, and avoid risks; it can provide risk export for order agriculture, and effectively protect agriculture The interests of the people Qu Lifeng told reporters that big business has unique advantages in resuming corn futures trading: first, in recent years, big business insists on standardized and steady operation, giving full play to market functions In 2001, the futures trading volume was nearly 2 trillion yuan, accounting for 66% of the National Futures trading volume; second, big business has accumulated rich experience in the past corn futures trading; third, Dalian is backed by Northeast China Three provinces and one district, with advantages in ports and infrastructure The annual grain transfer volume of Dalian port is more than 10 million tons, and the storage capacity has reached more than 6 million tons, which is in the leading position in China and even in Asia He believes that it is not only of practical and important significance for protecting farmers' interests and promoting the economic development of three provinces and one district to resume the corn futures trading as soon as possible, but also necessary from the perspective of the development of China's futures market itself Although China's futures market has a 10-year history of development, compared with international peers, its scale is still very small After China's accession to the WTO, with the continuous entry of foreign capital in the field of financial services, the futures market can only face competition if it is large-scale and increases its influence in the world In the past 10 years, the vast majority of futures investors are becoming more and more rational and mature, more urgent to invest in new futures In particular, the "Tenth Five Year Plan" of the state clearly proposes to "steadily develop the futures market", which provides a strong guarantee for the recovery and development of the corn futures market The reporter learned in Dashang that in order to resume the trading of corn futures, the Institute has made a lot of feasibility studies, and the basic work such as the modification of corn futures contract has been preliminarily completed, which fully meets the conditions for resumption of trading.