Minmetals Hai Qin: Zhengmai fall attention to support below

On the international front, the United States and wheat fall back, follow the other agricultural products slightly cloudy, September contract closed at 534.6 cents per bushel, down 1.4%, technically, 550 cents per bushel of the whole number of the suppression, the short term is still difficult to overcome, the future is expected to be in this interval for a period of turbulence. On the news side, according to the Argentine Rosario Grain exchange, Argentina's wheat and corn production in 2009/10 could be well below normal levels, while soybean production is expected to grow. The exchange is expected to grow 2.75 million hectares of wheat, with output expected to be 7.4 million tonnes.　　This is less than 8.7 million tonnes in 2008/09, and is well below the average level of 14.76 million tonnes in the past five years.　　Domestic Zhengmai today broke down, the 1001 contract was closed at 2123 yuan per ton, a decrease of 0.56%, positions increased by 3152 yuan per ton, close to 20,000 hands. In the news, China imported 192,905 tonnes of wheat in June this year, according to the latest data released by China's General administration of customs. Well above the May import volume of 70,968 tonnes.　　China did not import any wheat in the same period last year. According to the state grain and oil Information Center July 22, approved by the relevant State departments, July 22 in Anhui Grain wholesale trading Market (Shandong, Hubei, Jiangsu, Shaanxi, Liaoning, Jilin, Heilongjiang, Inner Mongolia set up branch field) bid to sell the lowest purchase price wheat, The plan trading wheat 749,100 tons, the actual transaction 85,800 tons, the turnover rate of 11.45%.　　Among them: White Wheat project sales of 602,600 tons, the actual transaction 54,900 tons, the turnover rate of 9.11%, the average price of 1,800 yuan/ton; mixed wheat plan sales 146,500 tons, the actual turnover of 30,900 tons, turnover rate of 21.09%, the average price of 1,697 yuan/ton. Technical aspects of Zhengmai after a long period of weak shocks, today's volume broken down, but in the early days of the low point encountered a certain support, future or will still be dominated by the weak, but should not be too empty, fear of falling space limited. (This source: NetEase Financial Author: minmetals Zhang Haiyuan)