Peanut kernels and Rough Rice are both integral global commodities. These agricultural essentials are valued for their wide-ranging applications and consistent demand worldwide.
Peanut kernels boast versatile applications in both culinary and industrial spheres. It serves as vital ingredients due to their high protein content and plays a key role in the cosmetics and pharmaceutical industries.
Rough rice stands as a dietary staple for millions across diverse cultures. Its significance surpasses culinary boundaries, supporting communities heavily reliant on rice as a primary food source.
Given the significance of these agricultural commodities, Peanut Kernel futures and Rough Rice futures are among the most actively traded commodities worldwide. This article aims to provide insights into the latest market news and price updates concerning Peanut Kernel and Rough Rice Futures.
Trading Peanut Kernels and Rough Rice Futures
Being popular commodities, Peanut Kernels and Rough Rice Futures stand as two of the most actively traded futures in the global market. Traders can trade both Peanut Kernels Futures and Rough Rice 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 Rough Rice 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.
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 Rough Rice Futures Contract Specification
The CBOT Rough Rice Futures Contract has the following specifications:
The Futures Contract has a tick size of $10.00 per contract.
Contract months are Jan, Mar, May, Jul, Sep, Nov.
The last trading day of the contract month is the business day prior to the 15th calendar day of the contract month.
Chicago Board of Trade trading hours are from Sunday to Friday, at these trading hours:
7:00pm - 9:00pm and 8:30am – 1:20pm (Settles 1:15p.m.) CST
CBOT Rough Rice Futures symbol: ZR
Rough Rice Futures Price and Market News
According to a report by Channel News Asia (CNA), global rice prices have surged by approximately 20 percent, reaching the highest point in 15 years. This increase follows India's recent ban of non-basmati white rice exports. India, who is responsible for around 40 percent of global rice supplies, enacted this export ban, leading to a reduction of 10 million tons or 20 percent of the overall international market supplies.
This situation has arisen amidst existing high food prices, which have been influenced by the aftermath of Russia's invasion of Ukraine last year and unpredictable weather patterns. As of August 29, the Chicago Mercantile Exchange (CME Group) reported that CBOT Rough Rice Futures are priced at USD $16.190 per hundredweight (cwt).
Due to the rice export prohibition in India, importers are now shifting their attention to Vietnam as a source of rice supply. This shift in demand has caused prices in Vietnam to soar. According to a report by CNA, this surge in demand has prompted Vietnamese authorities to devise plans to increase rice production by approximately 200,000 tonnes this year.
Figure 1. Ceicdata’s Price Chart on ZCE Peanut Kernel Futures From 1 June to 28 August 2023
Peanut Kernels Futures Price and Market News
Based on the report from Ceicdata, the price of ZCE Peanut Kernel Futures has been gradually increasing since June this year, reaching 10,416 RMB/Ton on August 28. However, despite the overall upward trend, there was a drop in price on August 28 compared to the price observed on August 25.
QuHeQiHuo has reported that the elevated peanut prices in China have prompted cautious interactions between buyers and sellers, leading to a sluggish overall trading environment. Furthermore, Reuters has indicated that adverse weather conditions could potentially lead to a reduction in peanut production within China.
Currently, the market volume in peanut production areas remains limited, with the recent rainy weather slowing down the launch of peanuts. The extended rainfall has the potential to trigger peanut germination, prompting local stakeholders to indicate a readiness to increase prices.
It is anticipated that prices will persist at a high level in the near future, with traders awaiting a substantial influx of peanuts into the market.
Start Trading With Orient Futures Singapore
Being an 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.
