spot commodity
3.Taking soybean of Dalian Commodity Exchange as example, this article examines the dynamic relationship between the prices of spot and futures, and discloses the role of futures market plays in price discovery quantitatively, using VAR model, cointegrated test, impulse responses function and variance decomposition methods, etc.
4.Taking Chinese only feed industrial Futures-Soybean Meal Futures in Dalian Commodity Exchange as examples, this article examines the dynamic relationship between the prices of spot and futures, and discloses the role of futures market plays in price discovery quantitatively, using VAR model, cointegration test, error correction model, variance decomposition and impulse responses function methods, etc.
5.Then the paper paid attention to do the qualitative and quantity analysis in order to find out the main factors of price forming mechanism of the soybean futures in Dalian Commodity Exchange(DCE). It used mathematical statistics and econometrics as methods to do a statistical analysis and contrast many factors such as the supply and demand situation of soybean, the relation between futures price and spot price, the spread of far and near contract, the comparison of soybean futures price between DCE and CBOT.
