ADMISSundayGraincommentsDecember.docVIP

ADMIS Sunday Grain comments December 12, 2010 ADMIS 周日谷物市场评论 2010年12月10日 Early calls are steady to higher. Fact China did not raise lending rates over the weekend could open grains higher tonight. Corn and wheat could open 1-2 higher. Soybeans could open 2-3 cents higher. Concern about dry weather in Argentina and wet weather in Australia could also offer support. 译文：早间竞价稳定走高。中国没有在周末提升贷款利率的事实有可能在今晚促使期价走高。 玉米和小麦可能上涨1到2美分。大豆可能上涨2到3美分。 对于阿根廷干旱天气和澳大利亚湿润气候的担心对期价给予了支撑。 China Nov CPI was reported at 5.1 pct and higher than expected. Nov food inflation was near 11.7 pct and also higher than expected. This data could still increase talk that China may eventually have to raise rates to slow their economy. 译文： 中国11月份CPI指数达到了5.1%超过了预期的水平。11月份食品通胀率接近11.7%，也高于预期的水平。 这个数据仍旧增强一个传言：中国有可能最终通过加息来减慢经济发展速度。 Trade will also have to watch yearend fund buying or selling. Last week Index funds were small buyers of soybeans, soyoil corn and wheat. Traditional traders were large buyers of wheat but also small buyers of soybeans, soyoil and corn. Direction of dollar is also key. Some feel fact Congress/Fed could try to stimulate the US economy while Europe and China may be slowing their economy could push the dollar higher. Long term US debt and inflation could eventually be very bearish the dollar. 译文： 市场交易必须关注基金的买卖行为。 上周，技术基金小规模购买了大豆、豆油、玉米和小麦期货合约。 传统交易者购买了大量的小麦期货合约，但是只是购买了不多的大豆、豆油、玉米期货合约。美元的走势也是关键因素。 有人预计国会有可能通过刺激美国经济发展的计划，而欧洲和中国有可能会放缓经济发展速度，这使得美元走强。 美国长期国债和通货膨胀有可能最终使得美元走弱。 Traditional funds sold 5,000 soybeans on Thursday and are estimated to be long about 131,000 contracts. They are net long 28,000 soymeal -2 and 50,000 soyoil -1 . Funds bought 2,000 contracts of corn and are net long 325,000. Funds bought 2,000 Chicago wheat and are net short 5,000 contracts. 译文： 在周四，传统基金卖出5000手大豆，预计净多大豆131000手。 豆粕净多头寸28000手，豆油净多头寸50000手。基金买入2000手玉米，玉米净多头寸325000手。买入2000手芝加哥小麦，小麦净多头寸5000手。 Index funds are net long 305,000 corn +4 , 187,000 wheat +3 and 148,300 soybeans +2 . Commercials are net sh