Study On The Cultivation Mechanism Of Corn-futures Market In Jilin Province

China is the corn production power, its ultimate output of corn is the second in the world. In recent years, demanding of the corn industry enhances with large scales, and it plays a very important role in the national economy, besides the main forage crop and the main grain ration in some areas. With the development of economy, the market-degree of corn circulation enhances unceasingly; the uncertain factors, such as climate, policy, market are also enlarging. Finally, all of these manifests the price to fluctuate fiercely, thus corn industry chain influences the development of the participant to which related. The futures market has the function of price discovering, risk circumvention and transactional-cost reducing. In overseas, the futures market is approved by many countries, and the government supports the development in the futures area. They also encourage the peasant and the enterprise to participate the futures markets in order to obtain the price information, to carry on the hedge circumvention risk. It is providing a tool in the area of refuging from danger for the corn stock market's all swapper that corn-futures of our country listed smoothly in September,2004, it also has created simultaneously a convenient channel for the corn market information's exchange and the circulation, and promoted the corn industry economy development. Therefore, the corn futures market has received the widespread attention.of the community in our country since 2004.Jilin Province which locates at the world three big gold corn area is outstanding in the area of corn-producing. And its average amount per capita, the quantity of goods, volume of exports occupy the national first place continuously in many years, and the corn industry economy development have the major impact on Jilin Province. Once the corn stock market meets the big fluctuation, not only will it bring the risk for transaction all quarters, also affect the corn the supplies, bring the grain security problem, and affect Jilin Province and even the entire state economy development. In order to guarantee that Jilin Province could better make use of corn futures market to service the economy of development, this article proposed some suggestion which can help the development of the corn futures market, based on the viewing of the present situation in the area of development in the corn-futures market of Jilin Province.The main research work and conclusions are as follows:(1) Introduced the importance of corn futures market on the role of regional economic development and the function in development of regional economies, and then summarized the background of selecting the article and the significance in this paper.(2) Introduced market's basic function of the modern futures and the domestic , and also introduced the experience and example of using futures market's in the foreign. Then elaborated significance and the feasibility in corn futures market cultivation practical in Jilin Province.(3) Firstly, this article generally summarized the basic present situation of our country corn futures market, then separately analysed the relevant on the corn forward price of CBOT and DCE and the relevan on the corn forward price and the spot price of DCE ,and examined that the forward price and the spot price of our country corn ,having better connection with the international market, is highly related.Next this article proved that the spot price, and in the information transmission and the price discovered that played the leading role using a model the Granger causes and the Garbade-Silber (GS). Finally, I confirmed our country corn futures market function display a good tendency development in recent years through the computation of our country corn futures market fluidity.(4) Analyzed the question existing in the development of corn-futures market in Jilin Province in aspects of farmer, enterprise, government, physical distribution facility and so on, in which based on the present situation of development in corn futures market in Jilin Province.(5) Proposed the solution of countermeasure measure based on the existed question in the development of the corn futures market in Jilin Province...