Daily Report 211016

Domestically, DCE soybeans night section dropped. Oil against meal ratio rolled back below 2.3:1. Recent domestic soybean market differentiates. North and south soybean price is of much difference. Northeast China price continued stable. Market purchasing and sales are even weak, and price fluctuation is weak. Along Huai River district soybean price continued increase. Soybean meal side, cash price slightly 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.
Thursday copper market was blocked at 5 days average, and reached resistance position of downward fluctuation interval again. LME inventory yesterday decreased 2050 tons to 349000 tons. LME physical discount narrowed $1.5 to discount 19.5. 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.
Yesterday PP futures opened high and dropped; opened at 7901 and closed at 7815, and trading volume decreased 151000 lots to 315000 lots. Holding volume decreased 31676 lots to 737000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB 8050-8150/ton, RMB 8050-8300/ton and RMB 8300-8500/ton, respectively. As for operation, now average system is for long. MACD upward expanded, which is strong tendency.
                                                                                                 Dong LV (Investment Certificate NO. TZ008452)