Trading Peanut Kernels Futures and Corn Futures
Being popular commodities, Peanut Kernels and Corn Futures stand as two of the most actively traded futures in the global market. Traders can trade both Peanut Kernels Futures and Corn Futures through Orient Futures Singapore.
The Zhengzhou Commodity Exchange (ZCE) offers Peanut Kernels Futures that are accessible for international traders to trade. To do so, international traders need to trade through an overseas intermediary, such as Orient Futures Singapore, utilizing the QFI China scheme or Internationalized products.
Similarly, the Chicago Board of Trade (CBOT) offers Corn Futures, enabling traders to participate in trading.
Beyond these commodities, both ZCE and CBOT offer a wide array of other futures contracts for traders to consider. These commodities futures include Rapeseed Oil futures, Soybeans futures, PTA futures, and more.
As we usher in the new year of 2024, this article aims to recap the performance of both ZCE Peanut Kernel Futures and CBOT Corn Futures in 2023 and explore what lies ahead for them in 2024.
ZCE Peanut Kernels Futures Contract Specification
The ZCE Peanut Kernels Futures Contract has the following specifications:
The ZCE Peanut Kernels Futures Contract has a minimum price fluctuation of CNY 2/metric ton.
Contract months are January, March, April, October, November, and December
The last trading day of the contract month is the 10th trading day of the delivery month.
Zhengzhou Commodity Exchange trading hours are from Monday to Friday, at these trading hours:
Monday to Friday (except public holidays)
9:00 a.m.-11:30 a.m. 1:30 p.m.-3:00 p.m. (Beijing time)
ZCE Peanut Kernels Futures symbol: PK
CBOT Corn Futures Contract Specification
The CBOT Corn Futures has the following specifications:
The contract unit for the Corn Futures Contract is 5,000 bushels, with a minimum price fluctuation of ¼ of one cent (0.0025) per bushel/$12.50.
Contract months are Mar, May, July, September, and December.
The last trading day of the contract month is the business day prior to the 15th calendar day of the contract month.
CBOT Market Trading Hours are from Sunday to Friday, at these trading hours:
7:00 pm – 7:45 am, 8.30am – 1.20pm (CST)
CBOT Corn Futures symbol: ZC
Peanut Kernel Futures 2023 Performance
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Figure 1. ZCE Peanut Kernel Futures Price from Jan to Dec 2023 from Ceicdata
According to Ceicdata, the price of ZCE Peanut Kernel data is averaging around 154,038.00 from Feb 2021 to 21 Dec 2023. It reached an all-time high of 365,030.00 on 11th September 2023 and a record low of 12,008.00 on 9th April 2021.
Corn Futures 2023 Performance
According to Trading Economics, Corn Futures decreased 30.29% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
Peanut Kernel Futures News
According to CN Gold, the continuous effectiveness of policy support, strong demand for travel and tourism during the double holidays, and the positive impact of factors such as the low base effect, the consumer resilience remains unchanged, which is favorable for the strength of bulk commodities.
On the supply side, the import volume of peanut continues to decline, but the cumulative import volume from January to October has increased.
This year, peanut planting area and production have both increased, external uncertainties have diminished, and the supply-demand situation has improved. The harvest of new crops has entered the final stage, reducing its impact on the peanut market.
On the demand side, the soybean harvest has ended, and Argentina's new crop production is expected to increase significantly, maintaining a relatively loose soybean oil supply. The oilseed sector is expected to operate weakly; in the short term, domestic oil mill soybean meal inventories remain relatively high, coupled with a large number of soybeans arriving in port, slow digestion of peanut meal, and continued growth in production, putting pressure on the market.
The crushing profit of oil mills is still in a loss, the purchasing pace of oil mills has slowed down, and with less oil being produced by oil mills, weak demand for peanut oil, oil mill peanuts will continue to accumulate in storage.
However, as various measures of consumption promotion policies take effect, driven by the three rounds of "policy + activities + scenarios," the continuous release of consumption potential will have a certain boost to peanut demand.
Overall, with an improvement in the supply-demand situation and weak crushing demand, the short-term weakness in the peanut market may continue. However, as prices fall to realize the negative impact of the harvest season, the later period may see a low-level fluctuation in prices, with attention to the support level at the previous low of 8,500 yuan/ton for the March 2024 contract.
CME Corn Future News
According to Trading Economics, CBOT Corn Futures dropped below $4.6 per bushel, inching closer to the near 3-year lows of $4.5 hit on 29th November 2023. This was pressured by decreased oil costs, which dampened the demand for biofuel alternatives, and the World Agricultural Supply and Demand Estimates (WASDE) December report revealed upward revisions for global corn production, consumption, and stocks in the 2023/24 year.
The 2023/2024 corn output was raised for Russia, Ukraine, the EU, and Egypt. Meanwhile, the US outlook saw no major new data points, except the addition of 25 million bushels of exports and the reduction of ending stocks to 2.131 billion bushels. The Argentina and Brazil balance sheets also underwent no changes. Further losses of the commodity were limited by continued below-trend precipitation in Brazil's main corn-producing regions.
Peanut Kernel Futures 2024 Market Outlook
According to 同花顺财经, Peanut prices in the 2023/24 season is expected to decline. This is in consideration of the increase in peanut supply and a relatively weak demand side, causing the downwards trend in prices.
It is anticipated a fluctuation range of 7000-10000 yuan per ton and a core range of 7500-9000 yuan per ton.
CBOT Corn Futures 2024 Market Outlook
Traded Economics reported that Corn Futures is expected to trade at 459.62 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts’ expectations.
Looking forward, they estimate it to trade at 423.15 in 12 months’ time.
Start Trading With Orient Futures Singapore
Overseas Intermediary of Shanghai International Energy Exchange (INE), Dalian Commodity Exchange (DCE), and Zhengzhou Commodity Exchange (ZCE), when foreign clients participate in internationalised futures contracts in these Chinese markets with us, they have direct access to trading, clearing, and settlement. Our parent company, Shanghai Orient Futures, is the largest broker in terms of aggregated volume across the five regulated exchanges in China.
Orient Futures Singapore also currently holds memberships at the Singapore Exchange (SGX), Asia Pacific Exchange (APEX), and ICE Futures Singapore (ICE SG). Starting August 2023, corporate clients can also gain access to the B3 Exchange through us.
We provide bespoke services to our professional clients, tailored to their corporate and individual needs. Our team will be there for you 24 hours on trading days to provide a one-stop portal for all your trades, with simple processes and an intuitive user interface that has low or near-to-zero latency.
