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Ruida Futures: Cost support, Chinese Rice Prices Remain Firm
November 06 2020 08:13:03Ruida Futures(Linda)

Disk situation: rr2101 closed at 3554, 0.11% from the previous trading day; trading volume was 16024 hands; positions held were 13,819 hands, 5588 hands.

News: As of the 44th week (October 24, 2020-October 30, 2020), among the 100 rice processing enterprises selected, 65 rice enterprises started production (some of them were not fully opened). The weekly operating rate was 25.36%, an increase of 3.47 percentage points from last week's 21.89%. The rice output this week was 41,173 tons, an increase of 5,630 tons from 35,543 last week. .

Spot market: Jiamusi, Heilongjiang Price: ordinary japonica rice 3880, +0. (Unit: Yuan/Ton)

Warehouse receipt inventory: 0 lot of japonica rice warehouse receipt, 0 lot.
Summary: The weather turns cooler, traders are more willing to stock grain, and grassroots farmers are not satisfied with the current purchase price of japonica rice. Supported by cost, the price of high-quality rice is firm. However, the current operating rate of rice enterprises has increased, and the output of japonica rice has increased relatively. Recently, the downstream supply has been poor, and the pattern of continuous oversupply in the market restricts the space for the focus of japonica rice transactions to move up. Circulation, lowering the mainstream quotation, is bad for its market. Overall, the price of japonica rice is expected to fluctuate in a narrow range.

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