Wheat is the most important food system in China. It is a kind of commodity grain with rich nutrition and high economic value. Wheat seeds are rich in starch, more protein, a little fat, various mineral elements and vitamin B. Wheat can be divided into winter wheat and spring wheat according to sowing season. The quality of wheat depends on the content and quality of protein. Generally speaking, the protein content of spring wheat is higher than that of winter wheat, but its bulk density and flour yield are lower than that of winter wheat. Hard winter white wheat: winter wheat with white or yellow-white seed coat, no less than 90% grains and no less than 70% cutin rate.

use

Because the national standard does not stipulate the intrinsic quality, the commodities delivered by hard winter white wheat futures are quite miscellaneous, including varieties with higher intrinsic quality and varieties with lower intrinsic quality, so their uses are different. When there is no strong gluten wheat futures, the delivery standard of hard winter white wheat futures is generally adopted. But with strong gluten wheat futures, those hard winter white wheat that can meet the standard of strong gluten wheat are specially used for making bread, jiaozi, Lamian Noodles and so on. , so that most strong gluten wheat is separated from hard wheat. Judging from the standard of futures delivery, the stability time of hard winter white wheat is generally below 8 minutes (not excluding more than 8 minutes). Therefore, most hard wheat that can't meet the standard of strong wheat is used to make steamed bread, noodles, jiaozi and so on.

Two. Pumai futures exchange and its code

Qiangmai Futures Exchange: Zhengzhou Commodity Exchange

Transaction code: PM

Three. Pumai futures contract text

Four, the influencing factors of wheat futures price

Yield, circulation and target quantity of hard winter white wheat; Demand for hard winter white wheat: the national output of hard winter white wheat is about 29 million tons, and the demand for hard winter white wheat that meets the standard of medium gluten wheat is the largest, with an annual consumption of about 25 million tons. Weather and quality, inventory, national policy, consumption and season, import and export, external market, spot price, participation of institutional investors and other factors also affect the price of hard wheat.