SMM News: may is nearing close, the US stock market shows signs of stabilizing, the Dow is up 0.17%, the dollar index is basically flat, will rise for the fourth month in a row. Commodities have changed dramatically, with oil prices tumbling nearly 4 per cent to their lowest level in more than two months, bronze closing 0.5 per cent lower to its lowest level in nearly five months, and COMEX gold rising 0.5 per cent to its highest level in nearly two weeks. American bean futures rose 1.8% for the fourth day in a row. The CRB index, which tracks global commodities, fell 0.87 per cent. The monthly rise and fall of 10% does not matter * in May, domestic commodity hotspots continued, and Zhengzhou varieties fluctuated violently. Due to the expected tight balance of supply and the risk of dam break in Vale, iron ore began to create Nine Lianyang on May 15, rising nearly 18 per cent to a more than two-year high of 774.5 yuan, while the 1909 contract rose 15 per cent on a monthly basis. On the other hand, apples and red dates are once again favored by funds. After Labour Day holiday, Apple soared all the way. On May 24, the futures price broke through the 10,000 yuan mark, and the 1910 contract rose 20 percent a month. Due to extreme weather interference, The national apple production rate was reduced by about 20% in the 2018 production season. As a result, the spot market is in short supply, the storage capacity of cold storage in producing areas is low, and the phenomenon of high price and cherishing sale by stockholders is prominent. In terms of new season fruit, according to the survey, the overall fruit setting in the producing areas this year is general, and organizations generally expect that there may be varying degrees of production reduction in the 2019 production season compared with the normal year, but the situation may still be better than last year. Since the date went public on April 30, it has been floating red all the way, constantly refreshing the new high since the listing, with 1912 contracts soaring 19 per cent on a monthly basis. Cotton and sugar are in the doldrums and fluctuating violently, frequently putting on the tide of falling and stopping. According to sources, Unica, a Brazilian sugar industry organization, said China would eliminate additional import tariffs on Brazilian sugar by May 2020. Although the Brazilian government has not confirmed the news and there are no official reports in the country, the bearish mood of import policy is rapidly growing in the market. Cotton and sugar have fallen 13 per cent and 3 per cent, respectively, so far in May. At present, iron ore, apple, and jujube futures have been adjusted one after another, and the only relatively strong two meal futures, due to the hot capital speculation trade war and the beautiful beans began to speculate the weather, the two meals showed a unilateral rally in May, and on the 29th they rose by the limit in an all-round way. Soybean meal 1909 contracts soared to a high of 2954 yuan since early December, while rapeseed meal hit a high of 2597 yuan since mid-October 2018. Due to the uncertainty of Sino-US trade frictions and the capriciousness of the beautiful bean weather, the two meals still have too much room to imagine. The iron ore in five years after the high also need to look at the domestic steel demand and port inventory changes. Another variety that cannot be ignored is corn, which rose to above 2000 yuan later this month. At present, the temporary storage auction is hot, and the external corn continues to soar to a three-year high, lest the influx of funds into corn begin to hype. * New news of trade frictions * the Sino-US trade negotiations took a turning point in May, from Trump's threat to impose tariffs to the landing of boots, and then China began to fight it, starting at 00: 00 on June 1, 2019, Increase the tariff rate on some of the $60 billion list of US goods that have been subject to tariffs. In addition, the United States has added Huawei to its list of entities, and China is "seriously considering" restricting exports of rare earths to the United States. On May 30, the Ministry of Commerce held a regular press conference. A reporter asked whether China's taxation measures against the United States will proceed as scheduled near June 1. How will the Ministry of Commerce respond to concerns about whether the trade war will continue to escalate, including the possibility that the United States will continue to tax China's $300 billion worth of goods exported to the United States? Gao Feng, spokesman for the Ministry of Commerce, responded that the Chinese side has repeatedly stressed that our determination to resolutely safeguard national sovereignty and dignity and resolutely safeguard the fundamental interests of the people will not waver. The Chinese side firmly opposes the hegemonist practice of the US side in imposing tariffs, and will carry out the necessary countermeasures. China's position on the trade war is consistent and clear. We do not want to fight, but we are not afraid to fight. It is hoped that the US side will correct its erroneous practices as soon as possible, show the necessary sincerity, and resolve the issue through cooperation and consultation on the basis of equal treatment and mutual respect. If the US side insists on going its own way and continues to escalate the friction, the Chinese side will accompany it to the end. The US sharply revised down its inflation figures for the first quarter as domestic demand slowed sharply and slightly revised down its initial estimate of economic growth released in April. Friday ushered in a blockbuster China's official manufacturing purchasing managers' index in May, in addition to May PCE Price Index May Chicago PMI, May University of Michigan consumer confidence index and other data will be released one after another. The risk incident in June is even more constant. British Prime Minister Theresa May will resign on June 7, which will aggravate the Brexit crisis, and the Federal Reserve will hold a two-day policy meeting from 18 to 19. The OPEC and its allies, including Russia, will meet on June 25-26, while the G20 meeting will be held in Osaka, Japan, from June 28 to 29, a crucial moment for Sino-US trade talks.