Research On Strategies Of Developing The Soybean Futures In Heilongjiang Province

Futures market is an important part of the market system, playing the role of price discovery and risk aversion. Heilongjiang Province is a major agricultural province, how to use futures to respond to the price volatility in the spot market become a favorable way to enhance the competitiveness of agricultural products, to help farmers avoid the risk and to increase revenue in the new era. Since the strike that came from the international food business to the Chinese soybean industry in 2004, the international grain soybean pricing rights was monopolized by the international food business gradually. Increasing imports of genetically modified soybeans led domestic soybean acreage reduction and treated the development of the nation's soybean industry. However, the soybean futures market in Heilongjiang Province was not perfect, and it seriously affected the farmers and soybean processing enterprises using the soybean futures to avoid market risks and control the soybean product pricing domestic. Therefore, the development of soybean futures in Heilongjiang Province become the general trend of economic development, and is in line with the requirements of carrying out the work in the socialist rural areas.Paper using standard analysis of Soybean futures on the current situation, issues an objective set, clear the current soybean futures development in Heilongjiang Province basic situation, with the market economy and financial market developments, Heilongjiang Province, the degree of participation in soybean futures market, a marked improved, but there is still the main soybean futures participation scale and structure is unreasonable, inadequate functioning futures market, futures trading inefficiency, etc;Undertake dissertation ideas, Soybean futures on the factors affecting the development of the analysis, from the futures market and spot market specific analysis of two aspects; article uses empirical analysis: ADF test, Johansen cointegration tests, Granger causality test and other methods analysis of soybean futures prices and spot price relationship between the guide to verify the function of soybean futures market effectiveness. Finally proposed the development of soybean futures bold idea to explain the guiding principle of this concept, design principles and specific content of the development of soybean futures reached, thought to be in line with local conditions, to national and provincial development objectives soybean industry To guide and protect the safety of soybean industry in international market development and competitive advantage while ensuring soybean farmers interests, ensure that the farmers have planted soybean for production initiative, specifically in terms of contracts re-designed Soybean futures trading system on farmers and agricultural processing enterprises to relax, the establishment of soybean in Heilongjiang Province, futures delivery warehouse, so that when the real estate, local processing, the output value-added products, to protect farmers and the soybean processing enterprises to make full use of soybean futures market price discovery and avoid risks and safeguard the interests of farmers and the soybean processing business profits, and soybean in Heilongjiang in the international market pricing.Research obtained through articles, Heilongjiang Province, soybean futures market functions exist and can play a role, the key is how the various aspects of Nu Li and co-operation Gongtongliyong good futures markets play a role in the actual production function, Chule to Zunxun author Tichu of bold vision of the basic principles and development path, the proposed development of Soybean futures countermeasures, must be actively engaged in cultivating futures markets and spot markets, which complement the development of the futures market must be based on sound Based on the spot market, especially in infrastructure improvement will greatly enhance the efficiency of futures trading, futures market spot market deals in turn promote the rational development of Therefore, the spot market to speed up the construction of soybean development, improve Dadou logistics system and improve the level of competition the spot market completely; futures market, the transformation of government functions, from direct intervention to Jianjiefuchi change and improve the policy environment of soybean futures to nurturing Heilongjiang Soybean futures reasonable structure, the main transactions of moderate size, improve soybean futures prices at the core of the information transmission mechanism. Generally reached in theory building abundant soybean futures trading system, but in practice made of soybean futures on the development of more targeted and workable ideas and strategy. Ultimately help farmers and soybean processors to avoid the spot market price fluctuations, so as to enhance the competitiveness of the domestic soybean, to protect national soybean industry.