September 19, 2008

  

China's corn futures trading maturing
  
 

Corn trading on the Dalian Commodity Exchange (DCE) in Liaoning is growing mature with the corn futures price discovery and risk hedge functions better realized, according to Liu Xingqiang, general manager of DCE.

 

Liu said that DCE, where corn and soy futures are the most traded, would continue efforts in strengthening industrial expansion and market service, and closing links between futures market and spot trading.

 

According to statistics dating from September 22, 2004 to the end of August this year, the exchange has handled 398 million contracts with trading value worth RMB6, 358.3 billion, and trading volume of 1.969 million tonnes.

 

In 2007, DCE realized contracts on corn trading of 119 million while for the first eight months of this year, DCE's corn trading contracts reached 88.9 million, rising 26.08 percent year on year.

 

The trading volume of China futures grew 65 percent in August from the same period last year, led by active business in farm produce.

 

The trade volume of the country's three futures exchanges hit RMB6.68 trillion (US$975.2 billion) this month, the China Futures Association said. The number of contracts grew 54 percent on-year.

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