Thursday,January13,20112011年01月13日周四.doc

Thursday, January 13, 2011 2011年01月13日 周四 Grain futures were higher on Thursday. Wheat was the upside leader, responding to some catch-up buying relative to corn and soybeans and to concerns about dryness in the Southern Plains. Corn posted double digit contains continuing its uptrend on strong demand. Soybeans were the laggard, finding more selling interest due to its upside leadership yesterday. The outside markets were mixed, getting support from the lower dollar, which has fallen to test the December lows, but getting pressure from the lower crude oil. 译文：谷物期货在周四收高。由于与大豆和玉米的期价形成比价关系以及对南部平原的干旱天气的担忧，小麦跟进的买盘，小麦是领涨的品种。由于强劲的需求，玉米保持了两位数的上涨趋势。大豆由于昨天涨幅领先，今天有部分卖盘意愿的缘故，今天涨幅落后。 外部市场涨跌不一，但由于美元指数的走低，得到了支撑。美元指数下探12月的低点，但由于原油期价的收低，美元指数受到压力。 SOYBEANS… Soybeans were slightly higher on Thursday, posting gains of about 1 to 4 cents. The support from follow-through buying of yesterday’s bullish factors were muted by the start of some long liquidation ahead of the three-day holiday weekend. The bullish factors are tight US stocks and competition for US acres. However, some retrenchments should be expected, especially when there are rains in the forecast for South America. The products trade was mixed, seeing higher soymeal on ideas that high soybean prices and/or low stocks will limit the crush and reduce meal supplies. Soyoil was lower getting pressure from the lower crude oil prices. Contract highs today in early trade and the weak finish would suggest pressure tomorrow to finish the week. 译文：大豆方面，大豆期价在周四轻微收高，涨幅1到4美分。由于昨天看多行情的延续，大豆期价得到支撑，但由于在假期前3天，多头的平仓又使上涨温和。看多的因素是偏紧的美国库存量和美国国内农作物种植面积之争。但是，调整是预期中的，尤其因为南美有降雨的预期。产量交易涨跌不一，由于大豆期价高涨和库存降低也限制了压榨量和减少豆粕供应。豆油由于受到原油期价下跌带来的压力，也收低。早间合约上涨而收盘时下跌可能暗示了明天会有压力，从而结束本周的行情。 US Soybean Export Basis: 50H dn 4 美国大豆出口FOB升贴水50美分/蒲+3月期价，下跌4美分。 Bean Options… NO OPTION COMMENTS TODAY CORN... Corn posted strong gains, seeing gains of about 10 to 13 cents. Follow-through buying to yesterday’s bullish report drove futures to new contract highs again today. T