5.Three tests of the futuresprice and spot price for sugar in Zhengzhou and futuresprice at New York Board of Trade (NYBOT) indicate that sugar Market in Zhengzhou is efficient, with good price discovery function of the futuresprice guiding spot price.
8.Both of the two methods got the same result that the key factor, which effects the futuresprice of DCE, is the soybean futuresprice of CBOT and its domestic spot price.