With the development of the market economy, the corn planting industry needs to establish a complete futures system to enter the market safely and steadily. At the same time, due to multiple factors, the function of China's corn futures market needs to be improved. Therefore, it is the current requirement to study the guarantee role of corn futures on the development of the corn planting industry. In this paper, quantitative analysis method is used for cointegration test. The corn futures index price is used as an independent variable, and the corn price is used as a dependent variable to construct a regression model. Corresponding to the agricultural futures market price under the risk measurement model, to explore the hedging function and risk avoidance function of the corn futures market. The results of this study show that the J-B test of corn futures yields is meaningful at around 1%, while the kurtosis is significantly greater than 3 at the 1% insignificance level. The correlation coefficients of spot prices are 0.9067, 0.9243 and 0.8769 respectively. Through a comprehensive analysis, it can be concluded that the volatility in the three periods of the Chinese corn futures market is continuous, completely showing the statistical characteristics of the price of the corn futures market. By comparison, under the influence of the financial crisis, the risk avoidance function of corn futures has declined sharply, and external shocks have extended the duration of futures price changes.

Aqib Mashood Khan. Guarantee Function of Corn Futures to the Development of Corn Planting Industry. Academic Journal of Agricultural Sciences (2020), Vol. 1, Issue 1: 13-24. https://doi.org/10.38007/AJAS.2020.010102.

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