Chinese financial regulator approves offshore investment in domestic futures
China Securities Regulatory Commission has approved the trading of domestic futures and options by foreign offshore investors.
The new approval will come into effect on December 26 this year when offshore traders will be allowed to trade futures and their options for the soybean complex in China either using the Chinese renminbi or the US dollar.
The approved contracts include No.1 (non-GMO) soybean futures, No.2 (GMO) soybean futures, and soybean meal and oil futures, which are all listed on Dalian Commodity Exchange (DCE).
The exchange issued an alert to strengthen risk management procedures to ensure smooth trading operations next week.
Wheat crop condition better than last year: ministry
Wheat crop conditions in main growing regions in China are seen better than last year thanks to sufficient rainfalls and good soil conditions, the Ministry of Agriculture and Rural Affairs said.
Based on the ministry’s survey, winter wheat plantings in China were completed during the “suitable sowing period” and the crop development is significantly better than last year.
In Shandong province, winter wheat planting area exceeded 60.12 million mu (4 million hectares), up for the third consecutive year.
Crop quality within the province is also the best in recent years, according to the ministry.