The Empirical Analysis And Utilization Review Based The Futures Market Of Our Country Early Indica Rice

Indicate rice futures market for agricultural products play a stabilizing role. Indicate rice futures in April2009before the Zhengzhou Commodity Exchange, so for early indicate rice futures research is in a relatively empty field, this paper on the basis of existing literature, exploit the existing indicate rice futures data, explore indicate rice futures contracts in the price discovery and hedging functions are able to play a positive role, but also can determine the indicate rice futures in agricultural futures market occupies an important position.First, this article descrips early indicate rice futures market price discovery and hedging functions to do the analysis. Secondly, the analysis of the futures market hedging function of hedging performance-based differential analysis and analysis, and combined with the recent contract trading volume analysis, you can complete exposition of early indicate rice futures hedging function. Then, respectively correlation test, unit root test, cointegration test, Granger causality test, basis analysis, hedging function performance analysis, trading volume analysis of early indicate rice futures contracts on the price discovery and hedging hedging function empirical research results show that China has a strong indicate rice futures market price discovery and hedging functions.Pending the outcome of early indicate rice futures market price discovery and hedging functions strong conclusions, analyzes agricultural futures markets as the main grain reserve enterprises in the futures market, the use of price discovery and hedging functions of the specific process, which can be found as long as the same time concerned about making futures spot price volatility, you can get good results. Finally, made several policy recommendations, including futures spread of knowledge, the development of agricultural cooperative organizations and support the futures market innovation and improvement, improvement of agricultural information service system and rural financial institutions to support. In order to achieve early indicate rice futures market to the maximum extent possible to ensure the stability of the spot price, is also related to people’s livelihood, major initiatives.