无现货的

Public domain: Material which is free from copyright encumbrance and freely available to anyone who wishes to use it.

公开领域：并无版权限制，可任人随意提取和使用的资料。备有各种款式的现货，任君挑选

Futures price is the unbiased estimate of expected spot price, which is based on the function of risk transferring.

期货价格是未来现货价格的无偏估计，这是建立在风险转移功能基础之上的。

In order to achieve "worry-free operation of" commitment, the company has sufficient inventory of the cash, such as FAG, SKF, INA, TIMKEN, NACHI brands such as bearings and TOHO, RHP, FYH, such as housings, the most convenient customer needs, and Professional technical personnel, marketing and customer service staff, we will be "high-quality products, professional skills, human-services" to meet every customer seriously and welcomes your presence guidance, for their valuable advice.

为了实现"无忧运转"的承诺，本公司有充足的的现货库存，如FAG，SKF，INA，TIMKEN，NACHI等品牌轴承及TOHO，RHP，FYH等轴承座，最大方便客户的需求，并有专业的技术人员，市场销售人员和客户服务人员，我们将以"优质的产品，专业的技术，胜人的服务"认真迎接每一位客户并欢迎您的光临指导，提出宝贵意见。

Based on works above all, the thesis compares results of positive analysis with what is going on in real markets, proceeds to verify the results of positive analysis, the thesis brings forward some advice in order to reform and perfect the China"s agricultural commodity futures markets.The first two chapters in this article investigates the unbiasedness hypothesis of futures prices in China"s agricultural commodity futures markets.

第二章详细介绍了协整技术和误差修正机制，利用该技术分析了距离最后交易日一月、二月、三月、四月、五月和六月期的大豆和小麦期货价格与现货价格之间的协整关系，发现四月期以内的大豆和二月期以内的小麦期货价格是对现货价格的无偏预测，而五月、六月期的大豆和三月期的小麦期货价格不是现货价格的无偏预测，四月、五月、六月期的小麦期货价格与相应的现货价格不存在协整关系。

In order to achieve "worry-free operation of" commitment, the company has sufficient inventory of the cash, such as FAG, SKF, INA, TIMKEN, NACHI brands such as bearings and TOHO, RHP, FYH, such as housings, the most convenient customer needs, and Professional technical personnel, marketing and customer service staff, we will be "high-quality products, professional skills, human-services" to meet every customer seriously and welcomes your presence guidance, for their valuable advice.

为了实现&无忧运转&的承诺，本公司有充足的的现货库存，如FAG，SKF，INA，TIMKEN，NACHI等品牌轴承及TOHO，RHP，FYH等轴承座，最大方便客户的需求，并有专业的技术人员，市场销售人员和客户服务人员，我们将以&优质的产品，专业的技术，胜人的服务&认真迎接每一位客户并欢迎您的光临指导，提出宝贵意见。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。