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Why is the futures price lower than the national purchasing and storage price for a long time?
Try to answer:

1 and Zhengzhou sugar variety SR 130 1 were delivered on June 20 13. The national purchasing and storage price is a protective measure for the industry during the listing of new sugar every year and will not last until June 20 1 next year. So, there is no such opportunity. Buy the contract now, and then sell it to the country after delivery in 65438+ 10 next year. The state purchases a variety of agricultural products at protective prices, which are generally the income of planting, breeding and primary processing industries.

2. In addition to not being able to resell the national acquisition through futures delivery, can it be bought through the futures market and sold in the spot market for profit in the future? The price of SR 130 1 reflects the market expectation of next year 1, which is influenced by many factors, including the supply relationship between domestic and foreign markets. The recent European debt crisis has led to a general decline in world commodities. No one can predict that the price of 5700 yuan will be profitable in 65438+ 10 next year.

3. When the futures varieties approach the delivery date, the margin ratio is greatly increased, most participants have withdrawn, and few people participate in the actual delivery. Moreover, the actual delivery conditions are very harsh, such as not allowing individuals to participate in delivery.

4. It is normal that the futures price is lower than the national purchasing and storage price. On the contrary, it means that the futures price is higher than the national purchasing and storage price, and the spot market will be higher than the national purchasing and storage price. Then there is no need to introduce a national purchasing and storage policy because there is no sugar at all.