Daily Report 201016

Soybean
Domestically, DCE soybean fluctuation range increased, especially recent oil price fluctuated a lot. Oil against meal ratio is still 2.3:1. Recent soybean price along Huai River sharply increased. Dominant soybean production area of Anhui has increased to RMB 4300/ton. Soybean meal side, Partial place increased RMB 10-20/ton. Costal oil plant quotation is RMB 3200-3280/ton. As for operation, soybean species roll for long. Buy oil selling meal arbitrage stop gain at 2.3:1.
 
Copper
Wednesday copper price reached resistance position of downward fluctuation interval, and temporarily meets resistance at resistance line. LME inventory yesterday increased 2625 tons to 351000 tons. LME physical discount narrowed $0.25 to $21. Technically, copper price is under the tendency of drop. Copper price reached resistance position of downward fluctuation interval; we focus on the performance of price near resistance line.
 
PP
Yesterday PP futures market fluctuated at high point; opened at 7835 and closed at 7874, and trading volume increased 42020 lots to 466000 lots. Holding volume increased 14076 lots to 768000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 7950-8150/ton, RMB 8050-8300/ton and RMB 8300-8500/ton, respectively. As for operation, now average system is for long. MACD red column lengthened, which is strong tendency. Continue strong tendency in short term.
                                                                                                              
                                                                                                                         Dong LV (Investment Certificate NO. TZ008452)