Research On The Improvement Of G Grain Storage Company's Hedging Plan Based On Price Risk

In recent years,in the process of continuous development and growth of grain enterprises,the business mode has gradually expanded from traditional storage business to agricultural product processing and market trade.Influenced by the country's continuous reform of the grain price system,grain prices have gradually changed from policy-based market-based purchase pricing to market-based pricing.The degree of marketization of grain prices is getting higher and higher.The fluctuation of grain prices is increasingly affected by market factors.The operational risks faced by grain enterprises have also increased,and the demand for risk management by grain enterprises is becoming more and more urgent.In recent years,with the gradual development and improvement of China's agricultural products futures market,more and more grain enterprises are also actively participating in the futures market,using the hedging function and price discovery function of the futures market to carry out risk management to avoid the price fluctuation risk in the spot market,thus enabling enterprises to achieve stable production and operation.However,in fact,when enterprises use the hedging function of futures to hedge risks,due to the lack of futures professionals in the enterprise,the imperfect internal control system,and the lack of understanding of the risks of hedging instruments,hedging cannot achieve the expected results.In this paper,G Grain Storage Company is selected as the research object.Taking G Grain Storage Company's application of hedging tools in futures market as an example,the relevant problems existing in G Grain Storage Company's application of hedging functions in futures market are analyzed.Through the analysis of the problems,a new hedging scheme is designed.First of all,through the introduction of the price risk theory and the futures hedging theory,this paper puts forward the theoretical basis for G Grain Storage Company to participate in the hedging function in the futures market to avoid the price fluctuation risk in the spot market.Secondly,it introduces the basic situation of G Grain Storage Company and its spot operation,and analyzes the price risk characteristics of China's grain market.This paper analyzes some problems of G Grain Storage Company in hedging price risks by using futures hedging function,including hedging strategy,internal hedging system,post setting,personnel structure,etc.Next,the original hedging case of G Grain Storage Company is listed.Starting from the actual operation of G Grain Storage Company in the original case,a new hedging scheme is designed under the same scenario,and the hedging effect is different from that of the original case.At last,the paper puts forward the guarantee measures for the smooth implementation of G Grain Storage Company's hedging plan,which are analyzed and elaborated from the aspects of hedging strategy formulation,internal hedging system construction,talent team construction,fund guarantee,etc.With the continuous promotion of financial services real economic business,the hedging function of futures market will be used by more enterprises to manage the risk of price fluctuation.Through the research in this paper,on the one hand,G Grain Storage Company can be more standardized and strict in the future hedging application to achieve the purpose of managing enterprise operational risks.On the other hand,it can enable more grain-related enterprises to understand and be familiar with the preventive effect of financial derivatives on spot price fluctuation risks,and can reasonably use the hedging function of futures market to hedge the price fluctuation risks faced by enterprises.