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On September 17, the Eighth International Corn Industry Conference (ICIC) with the theme of “innovating in risk management, boosting transformation and upgrading” was held in Wuhan. When addressing the opening ceremony, Zhu Lihong, deputy CEO of Dalian Commodity Exchange (DCE), said that this year the corn futures on DCE have recorded brisk transactions with the number of the participants increased significantly. Currently, DCE is making bold explorations in innovating in “OTC options Serving San Nong (agriculture, rural areas and farmers)”and other service modes by centering around the corn industry chain.
Zhu briefed the conference on the operation of the corn futures market. She said that as one of the futures products that were earliest launched and with longest existence internationally, the corn futures were also one of the first series of futures products listed on DCE. This year, under the influence of various factors, the active participation of the industrial enterprises has made the trading of the corn futures increasingly active. From January to August this year, the corn futures totaled a trading volume of 12.22 million contracts (unilaterally), a year-on-year growth of 99%; the turnover amounted to RMB 272.4 billion, up by 88% from a year earlier; the annual daily average open interest stood at 290,000 contracts, a year-on-year increase of 33%. In terms of the participation of the investors, the number of the corporate accounts participating in the trading of the corn futures this year increased by 28% compared with last year, close to the level of the period of the most active market in 2006.
The ICIC is jointly sponsored by DCE and China Feed Industry Association, and has already been held for eight times, with nearly 5,000 corn industry-related participants attending the event (accumulated), with the participants from enterprises and institutions accounted for more than 70% of the total.
