As part of its efforts to improve the domestic grain market system, China will steadily develop grain futures for 2011-15, according to the national development plan for the grain industry.

The country will gradually increase grain futures products, and guide grain enterprises and farmers to use the futures market to hedge against risks, the plan says.

Meanwhile, China will strengthen the linkage between the spot and futures markets, and intensify supervision on grain futures transactions, the plan proposes.

The country will also promote construction of a market information system to achieve systematic and authoritative release of grain market information.

China's Dalian Commodity Exchange and Zhengzhou Commodity Exchange mainly trade agricultural products futures. Corn is traded on the DCE while wheat and early rice are quoted on the ZCE.