豆粕期货

豆粕期货价格形成机制的实证分析及对相关产业的启示

Positive Analysis of Soybean Meal Futures Price Forming Mechanism and Senses on Correlative Industry

相对而言，大豆期货市场的价格发现能力较强，豆粕期货市场的价格发现能力较弱，而小麦期货市场不具有显著的价格发现功能；

Compared to the wheat futures market , which has not the extinguish price discovery function , the soybean meal futures market has the stronger price discovery ability and the soybean futures market has the strongest one .

大连商品交易所大豆与豆粕期货价格之间的套利研究

Spread Arbitrage between Soybean Futures Prices and Soybean Meal Futures Prices of Dalian Commodity Exchange

卖出大豆期货合同同时买入豆油和豆粕期货合同。

The sale of soybean futures and the simultaneous purchase of soybean oil and meal futures . See Crush Spread .

大豆和豆粕期货市场为大豆及其制品企业提供了通过套期保值实现风险转移的途径。

Futures markets of soybean and soybean meal provide the approach of hedge to transfer risk for enterprises producing soybean and it 's products .

二是通过分别对大豆和豆粕期货合约的衰减因子进行确定，发现不同品种不同时间的衰减因子显著不同，因此，对于不同商品有区别地采用相应的衰减因子；

Second , determining the soybean and soy meal contracts ' decay factor to find that the decay factor is notable different from different time or different kinds .

通过相关性检验、单位根检验和协整检验，发现豆粕期货短期价差会出现偏离长期均衡的现象，而且价差最终能够回归均衡。

Through correlation test , unit root test and co-integration test , it is found that bean-pulp futures short-term price difference would show the sign of deviation from its long-term equilibrium and its ability to ultimately restore to the equilibrium .

本文分别运用这两大类方法，对我国大连商品交易所大豆和豆粕期货市场及郑州商品交易所小麦期货市场的有效性进行了实证检验。

This paper used these two major kinds of methods to test the market efficiency of China 's main commodity futures markets , including the soybean and soybean meal futures market of Dalian Commodity Exchange and the wheat future market of Zhengzhou Commodity Exchange .

大豆产品的国内外现货市场长期整合，短期不整合；国内外期货市场也长期整合，除国内豆粕期货市场外，国内外期货市场短期也整合。

Soybean products ' domestic and international spot markets are integrated in long-term , but not integrated in short term . Soybean products ' domestic and international futures markets are integrated in long-term and also integrated in short term except domestic soybean meal futures market .

随着进口大豆基差定价方式的普及，以及豆粕期货以厂代库的交割方式的实施，期货市场的价格发现功能与风险规避功能对于油脂企业的重要性日益突出。

With the popularization of basis pricing in soybeans import trade , and the implementation of replacing delivery warehouses with crushing factories in soymeal delivery , it becomes more and more important for crushers to use price-discovering and hedging function of futures market to offset risks .

我国大豆、豆粕和豆油期货价格之间的联动分析

An Analysis on Cooperation of Soybean Futures Prices , Soybean Meal Futures Prices and Soybean Oil Futures Prices of China

其次，通过对小麦、白糖、棉花、早籼稻、大豆、豆粕和玉米7个品种分析发现，小麦、早籼稻、豆粕和玉米的期货市场价格与现货市场价格之间没有引导作用。

Secondly , through the analysis of wheat , sugar , cotton , rice , soybean , soybean meal , we found , between futures price and spot market price of early indica rice , wheat , soybean and corn without induce .