Improve The Soybean Futures Market In China Hedging Research

It has already been 18 years since the Chinese commodity market launched the futures exchanging mechanism in 1990. After the difficult developing process the China futures market starts to bring its basic economical functions that shift the risk into play. To achieve this goal the most commonly hedging method is used in trading action. The hedging is the driving force of the futures market and decides the futures market existence and development.Soybean futures trading volume has a certain of scale in China. Nowadays, DaLian Commodity Exchange is the second soy futures after CBOT. The firm that products and runs soybean makes the hedging in the futures market and makes the business decision basing on the foundational analysis to avoid the risk and to realize its' stable development.Firstly, through the research on the hedging theory the thesis analyzes the relationship between the spot market and the futures markets. By analyzing the validity and the problem of hedging in Chinese futures market the thesis puts forward some proposals to improve the function of finding price.Secondly, the thesis analyzes the future transaction in the oversea market, in particular draws their successful experience linked to our country's situation, and then casts the countermeasure of hedging in China futures market. In this part, the writer thinks the key problem of operational mechanism in the futures market is that the trading power can not keep balance between the hedging and speculating. To lack the qualified personnel and the imperfect risk control is another point in China's future market.Lastly, the thesis proposes the countermeasure in cultivating the main body of hedgers and in improving the external environment of futures market to full enhance the hedging function of our future market.