Daily Report 271016


Soybean
Domestically, soybean No. 1 contract sprung up everything, leading the soybean species. Soybean oil increase tendency slowed. Soybean meal is willing to take over leading role. Actuals side, Northeast soybean price is stable and strong. High quality soybean price is still strong. Soybean meal side, cash price slightly increased RMB 10-20/ton. Costal oil plant quotation is RMB 3240-3350/ton. With the onboard of soybean, oil plants that recover operation increased. As for operation, long for Soybean Futures species. Soybean No.1 contract focus on stress line around 3900-3950. Long for soybean meal futures.
 
Copper
Wednesday copper market rallied, and copper price largely fluctuated around high position within the day. LME inventory decreased 2575 tons to 336000 tons yesterday. LME physical discount narrowed $5.5 to discount $7.25. Supply side, ICSG predicted that 2017 global filtered market supply surplus is 163000 tons. Next year output expectation is 20.7 million tons. Technically, after largely increase on two continuous days, copper price may adjust in the short term. Focus on whether middle line of the triangular can be broke through.
 
PP
Yesterday PP futures continued fluctuation; opened at 8185 and closed at 8172, and trading volume decreased 20500 lots to 327000 lots. Holding volume decreased 49672 lots to 686000 lots. Intraday main quoted prices for wires of north China, east China and south China markets are RMB8100-8350/ton, RMB 8350-8550/ton and RMB 8550-8750/ton, respectively. As for operation, now average system is for long. MACD upward expanded, which is strong tendency.
                                                                                                              
                                                                                                Dong LV (Investment Certificate NO. TZ008452)