SINGAPORE, December 1st: After a few months of debate, China finally approved GMO soybeans traded on the Dalian Commodity Exchange. Traders and analysts said that this was a ban on the circulation of any GMO soybean laws in China. Reforms. However, critics said that in the case of providing China's crushers with a good price-avoidance tool in the international soybean market, non-traditional rules for the delivery of soybeans to avoid GMO soybean circulation may not be effective. GMO soybeans are welcome, also known as No. 2 soybeans. China is the world's largest importer of soybeans, and imports only reached 16.5 million tons in the 2003/04 crop year. Two thirds of domestic crush companies use foreign supplies as a source of raw materials. It is estimated that China's soybean production this year will be 18.5 million tons, but as people's income rises, they will consume more highly nutritious foods, leading to insufficient supply of domestic soybeans to meet demand. Prior to the design of Contract No. 2, No. 1 contract took on the Lito Libspace factors of all relevant soybeans, including both factual and psychological factors. After the launch of the No. 2 contract, it will certainly bear the pressure of its tighter international market and the import of soybeans. Contract No. 1 is an easy one, and the spread between genetically modified soybeans and non-genetically modified soybeans will also be more intuitively reflected. Although No. 2 contract highlights the characteristics of No. 1 contract small varieties, it at the same time restrains the possibility of No. 1 contract forcing positions. As the No. 2 contract closely linked to the world, the possibility of a squeeze is almost zero, and it interacts with No. 1 contract. The correlation is naturally stronger than the relationship between No. 1 contract and CBOT soybeans. No. 1 contract is difficult to deviate from No. 2 contract. Get out of the independent market. Therefore, the introduction of the 2nd contract is conducive to improving the soybean futures price system and stabilizing the market. Critics say that the spot delivery of the Soybean 2 contract is difficult to prevent GMO soybeans from flowing into the hands of farmers. The settlement method for the Soybean No. 2 contract is still not clear. Analysts said that the ultimate success of delivery depends on the fairness and effectiveness of transaction regulations. Soybean No. 2 contract allows the delivery of imported soybeans and domestic soybeans. But the rights of investors are limited because imported soybeans can only be used for crushing. Due to the strong momentum of speculative and manipulative behaviors, China’s road to successful commodity markets is full of ups and downs. In the 1990s of the 20th century, a series of exchanges were established in China, but there were fewer varieties of transactions. Critics claim that the Soybean 2 contract is flawed because investors are worried that the crusher controlling the circulation of imported soybeans will use the contract to achieve its own goals. Optimists believe that most active traders in any developed commodity market are speculators, such as hedge funds, who usually do not enter the delivery phase. They said that there was no need to worry about the delivery of the spot, because no one was interested in piles of soybeans. They only care about the benefits obtained from contract transactions.
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