油脂研究（Lipid research）.docVIP

油脂研究（Lipid research） Lipid research September 3, 2009 Jiang Tao 021Jimmy621@ Wuyang 021WuYang@ For 021Huangzhiqiang007930@ Soybean oil, palm oil price differential, trading opportunities analysis The purpose of this paper is to analyze the possible trading opportunities of soybean oil and palm oil in the current futures market. This paper is divided into three parts: first, soybean oil and palm oil spot price difference characteristics and causes of the two season, the seasonal characteristics of soybean oil and palm oil futures price, outlook three, outlook of soybean oil and palm oil futures spread trading opportunities. First, seasonal variation of soybean oil and palm oil price difference and its cause of formation Source: Ningbo golden oil factory Pictured above is the main domestic oil price trend chart, from which we can clearly found that soybean oil and palm oil spot price difference showed obvious seasonal characteristics in summer when the spread between the two will be significantly reduced, and the price difference will be expanded significantly in winter. If the quantitative observation is not difficult to find, the summer soybean oil and palm oil price in 500-800 yuan / ton between the price difference is more common, while in winter, it can reach 1500-2000 yuan / ton. So why is the spot price of soybean oil and palm oil showing such seasonal characteristics? In fact, this is mainly determined by the physical properties of palm oil and palm oil to produce tropical plants, so its freezing resistance is relatively poor, if the temperature is below 10 degrees Celsius is easy to freeze, use range greatly limited, while soybean oil does not exist such a problem. So in the summer, because the palm oil is cheaper than oil prices, so it is widely used to make oil blend oil, demand and prices have been rising, thus narrowing the spread between soybean oil and palm oil and palm oil; because the winter freeze so greatly affected the