Huaxin Futures: Corn Continues To Adjust &Nbsp; Cotton Concerns Support.

Cotton:

Yesterday, the U. S. cotton continued to rely on the 5 - day average, closing in the half of the half of the line, a slight decrease.

Indicators on the MACD wear zero line indicates that there is still room for uplink cotton market.

The market is awaiting Thursday's USDA weekly export sales report to determine cotton demand.

Compared with the US cotton, domestic cotton has been weakening in recent years, mainly due to the increase of imported cotton and the continuous reduction of export orders.

The recent decline in cotton prices has been magnified by pactions and positions are increasing.

The trend is not optimistic.

In March 28th, China's cotton index CCIndex328 fell 5 yuan to 19517 yuan per ton, the spot price was weak recently, and the downstream demand was weak and the price was depressed.

China's import price cotton index FCIndexM is 101.93 cents, a discount of 1% is 16347 yuan, and the discount tax is 16831 yuan.

Short term long defense is 21200 key.

Sugar:

Crude sugar continued to fall 0.25% yesterday, with a decrease in turnover and a concussion in the vicinity of the half year line.

Short term half line is expected to have support nearby, the probability of disadvantaged finishing larger.

Domestic Zheng sugar 1209 rose slightly by 0.45% yesterday, and the paction continued to shrink.

Lighten up 1058 hands.

The price of sugar continued to stay in a narrow range of shocks.

Below 6600, support is strong.

On the operation, it is suggested that low opening can be bought appropriately, short term operation is the main factor, and there is no big fluctuation in the short term.

Corn:

Yesterday, the US corn continued to callback. Today's opening is underneath the half year line, and the probability of continuing to fall is relatively large. The first target is near 580.

There is still room for downfall.

Yesterday's MACD index below the zero line also showed that corn was weak and obvious, and the bulls had little defense.

DEC corn yesterday deviated from the trend of the outward market, and again increased sharply, adding 57334 hands on that day.

Break through the 5 day moving average at one stroke.

The 5 weekly line provides strong support.

The volume is enlarged accordingly.

But we believe that this is in line with the expected rebound in the vicinity of 2450, and then will really start the downward trend.

The trend of the weekly line shows that corn can be deployed in the medium term.

Steady operators can wait for the current round to rebound and sign off when there are signs of closure.

Fundamental correlation: as the temperature continues to rise and the seeding time draws near, the surplus grain in the hands of farmers will be less and less.

In the context of tight grain supply and strong demand for high quality maize in the southern feed industry, the adjustment of corn spot price will not be too big, and the price adjustment cycle will also be shorter.

If the state does not auction corn reserves and domestic corn supply and demand will be more intense, the price of corn will remain high.

Therefore, after entering April, the time, quantity and price of corn auction will become the focus of the market.

soybean

The soybean 1301 contract opened at 4580 on Wednesday, the highest price was 4594 yuan, the lowest price was 4565, and finally closed at 4573, the price fell 15 yuan, or 0.33%, and the position increased 5634 hands.

The beans are high up and still have the ability to rise.

Concerned this week, the US Department of agriculture will also announce planting intentions and quarterly inventory reports.

Domestic spot prices are mostly stable, some areas have slightly increased, easy to rise or fall.

Lian pan was hit by the US market yesterday, but the trend of the bull market remained unchanged, and it was re supported by the 5 day moving average.

In the process of sharp decline in the index, it showed strong resilience.

Soybean meal

Soybean meal 1209 contract opened yesterday at 3265 yuan, the highest price of 3299 yuan, the lowest 3262 yuan, closed at 3277 yuan, compared with the previous trading day rose 9 yuan, or 0.28%, increased 74170 positions.

Spot trading overall price remained stable small increase, or less than 30 yuan, but the volume is not large.

Soybean meal has maintained a strong resilience this year, no matter whether it encountered a stock diving or a sustained drop yesterday.

Near the small holiday, uncertain factors increase, it is recommended to lighten up.

Soya bean oil

Soybean oil 1209 contract opened on the 28 day at 9690 yuan, the highest price in the intraday price of 9764 yuan, the lowest price of 9670 yuan, finally closed at 9702 yuan, compared with the previous trading day fell 22 yuan, a decrease of 0.23%, added warehouse 5344 hands.

Spot afternoon prices have risen somewhat, but not much.

The market direction is not strong, concerned about Friday report.

Near the holidays, in order to control risks, it is suggested to reduce positions and bag for safety.