The Milky Way Zheng sugar futures limited space fluctuated mainly ghost observer

The Milky Way Zheng sugar futures: limited space fluctuated main clients view the latest market key point at home, 1, at the turn of the old and new crop, domestic supply is sufficient, the crop carryover stocks is expected with the previous crop is. With the end of the summer season and the end of the Mid Autumn Festival stocking, September sales will be more prosaic than in August. The spot market will not continue to provide the driving force for the future. 2, throwing reserve policy is also expected to control the rising price of sugar. 3, 9 months from the time of cancellation of warrants is approaching, but futures warehouse outflow is still relatively slow, the amount of warehouse receipts is still far higher than the same period last year, which is higher than the amount of the unilateral position on the September contract, a heavy pressure. 4, the lack of short-term support China outside demand may be difficult to break up. Zheng sugar above resistance, the upper space is expected to be limited. But the prospect of global supply and fund shortage long support, outside the high difficult now obvious callback, Zheng sugar below the space is limited. In September, Zheng sugar maintain fluctuated pattern, long term, Manniu market is not over yet. The SR1701 range is expected to remain at 6000-6400, extreme cases may in 5800-6000. operation, the proposed band operation, if the left and right back to 6000 or less, but more than a single long-term layout, focus on policy of dynamic performance and the outer disk. After the September delivery, 1-5 spreads are expected to expand, concerned about throwing 1 to buy the reverse of the opportunity to buy 5. (for reference), a August review in 2016 August and prices trend, Zheng sugar dropping rebound, overall still remain high and volatile situation. Main 1701 contract maintained at more than 6000 operation, as of August 25th, closing at $6230 tons, representing an increase of 125 yuan last month, or $2%. 8 in mid late due to the spot market trading volume, spreads continued to raise the price, the price out of a period of seven even Yang, but with the return of plain spot, the price has begun to weaken. Market is facing heavy pressure outside the warehouse, high shock, did not give a clear direction, the main contract Zhengtang fluctuations in the range of 6000-6300. Figure 1: Zheng sugar trend review source: Financial Futures Research Center, the Milky Way ICE sugar futures August shock rise, overall still maintain high rangebound pattern, in recent months, the October contract maintenance operation in 18.7-21 District in the United states. The prospect of global supply shortage of the market for the international price of sugar in the long-term market optimism, the firm holds a large number of fund net long positions, which makes ICE sugar is difficult to adjust, but at the same time, the Brazil press limited space above the rapid progress of sugar. Figure 2:ICE sugar futures trend review source: financial futures, the Milky Way two R & D center, domestic fundamentals analysis on production and marketing: in July the national sales are lower than expected 201516 years total sugar sugar production of 8 million 701 thousand and 900 tons of sugar (sugar over the same period of 10 million 556 thousand tons of sugar), a period of less than 1 million 854 thousand and 100 tons of sugar sugar. At the end of July 2016, the sugar of the national total sales of sugar 60.相关的主题文章: