Daily Report 100417 2017-04-10
Domestically, DCE soybean last week fluctuated at low position. Soybean No.1contract drop tendency slowed down, with bolster on the bottom. Northeast China soybean actuals price continued drop to RMB 3700/ton. Most districts quotation is RMB 3760-3940/ton.
Soybean meal futures dropped following the section. Soybean meal actuals quotation is stable. Coastal oil plant quotation is RMB 2860-2920/ton.
As for operation, Soybean No.1 contract has resistance at 3700-3750, and is not expected of downward trend. Soybean meal tendency is still weak in short-term.
Last week copper market maintained fluctuation tendency near average line intensive area. LME inventory last Friday decreased 5225 tons to 265000 tons. LME actuals discount enlarged $3.75 to discount $35.25. Overall, considering copper market supply and need has turned good, and traditional consumption season comes, recommend buy at low positon.
                                                                                    Dong LV (Investment Certificate NO. TZ008452)