Daily Report 110417 2017-04-11
Soybean
Domestically, DCE soybean night section performance is stable. Northeast China district soybean actuals price is stable. Most districts price is RMB 3760-3940. Since this week Sinograin first batch of soybean begins to outbound. The price is same with the rumored RMB 3500/ton, with margin of 10%.
Soybean meal futures price fluctuated at low positon. Actuals quotation is stable. Coastal oil plant quotation is RMB 2860-2920/ton.
As for operation, Soybean No.1 meets bolster at RMB 3700-38750/ton. Recommend long positon. Soybean meal rallied at low positon, but the total tendency is still weak. Recommend short position.
 
Copper
Monday copper market is still weak. Copper price opened low and dropped with 1.58%. The main reason is market worry about supple and weaker China copper demand. LME inventory yesterday increased 1250 tons to 267000 tons. LME actuals discount narrowed $2.5 to discount $32.75. Overall, the worry about supply suspension is disappearing. Although now is consumption season, downstream doesn’t has obvious market. As for operation suggests fluctuation tendency.
                                                                                    Dong LV (Investment Certificate NO. TZ008452)