July 11.

The world's 11 futures exchanges that trade soybean futures announced the results of their investigations and severe penalties at different times.

The Tokyo Grain Exchange issued a document saying that there are several companies holding a large number of long or short positions in soybean futures, especially the long part, almost all the positions are in the hands of one company, yes, it is Fuzz Company.

As for the short part, it is also a large number of positions held by several companies, and these companies are pushed out by Citibank, State Street and Vanguard Group!

At around 12 o'clock in the afternoon of the same day, the Tokyo Grain Exchange also issued the most severe punishment ever!

First, stop all new trading in companies with short or long positions of more than 2.8 million bushels.

Second, trading opens on July 12, and any individual or legal entity with a short or long position in the July soybean contract with more than 2.3 million bushels must reduce its position and reduce it by at least 20 percent on each subsequent trading day.

Thirdly, increase the margin on the positions of any individual and corporate accounts with long or short positions exceeding 2.3 million bushels!

The global futures market is in an uproar again!

Before everyone could discuss it, the Brazilian Futures Exchange also announced the results of the investigation and the decision on the punishment!

Next, the world's eleven exchanges that conduct soybean futures trading have announced the results of the investigation and the penalty decision one after another!

The results are basically the same as those of the Chicago Board of Trade and the Tokyo Grain Exchange, and the thunderstorms are all those companies, and the penalties are almost exactly the same except for the different position restrictions.

In fact, reducing positions can still hold up for these large companies, but raising margins is terrible!

The higher the guarantee, the lower the cost of buying a lot of futures, the greater the leverage, and the greater the risk; The lower the margin, the smaller the leverage, and the greater the cost of buying one futures futures.

Whether it is the Rockefeller family, or State Street, Vanguard Group, or Citibank, they are at least ten times leveraged, which suddenly raised the margin, and suddenly brought them on the verge of forced liquidation!

Next is either a margin call!

Or watch the forced liquidation!

The most uncomfortable is the Rockefeller family, because everyone knows that the major futures exchanges give such punishment results, and then the price of soybeans is bound to plummet, and even if the Rockefeller family raises the margin, it still can't get rid of the fate of liquidation!

Anyone with a discerning eye can see that Fuzz's global deployment of soybean futures not only failed, but also lost a penny, and the margin call will only lose more!

Vanguard Group, State Street Group and Citibank are slightly better, because the price of soybean futures will definitely fall next, as long as they can add enough margin, at least they can recover some losses, but the major futures exchanges clearly stipulate that they will reduce their positions in the future, and they will reduce it at a rate of more than 20% per day, I am afraid that even if they survive to the end, the three major groups will lose and vomit blood!

……

Sure enough, soybean futures reopened on July 12, and soybean prices plummeted as several companies with large positions were forced to reduce their positions, as well as Fuzz's unwillingness to make margin calls!

Soybean futures were trading at 1,253.21 cents per bushel before the break.

However, just after the market opened, this price fell to 1,203.01 cents in a matter of minutes!

This violent price fluctuation scared many retail investors to take action and continue to take the initiative to close their positions.

Although Pretty Country Futures had a circuit breaker mechanism in 1988, this circuit breaker mechanism can be triggered three times a day.

For example, when the S&P index falls by 5%, trading will be suspended for 15 minutes, rather than directly stopping trading on the same day.

The second circuit breaker is that the S&P index fell by 10% by 500%, and trading will be suspended for one hour.

The third circuit breaker was when the S&P index fell by 20% and trading was halted on the same day.

However, each limit will only be triggered once a day, for example, if the price falls to 5%, the primary market circuit breaker will be triggered, and then the price will rebound, and when it falls to 5% again, the circuit breaker will not be triggered again, unless the price falls to trigger the secondary market circuit breaker, and if the price falls by 20% during any trading session throughout the day, the tertiary market circuit breaker will be triggered, and trading must be stopped on the same day.

Originally, the circuit breaker mechanism was to protect the market.

However, because the price of soybeans fell too violently, the circuit breaker mechanism suddenly became a source of panic for many retail investors, who were afraid that the soybean futures in their hands could not be closed before the circuit breaker.

The price has fluctuated even more!

Half an hour later, the price of soybean futures has fallen below 1,190 cents!

The first circuit breaker took effect on the same day!

Although the first circuit breaker was only 15 minutes long, the people who held soybean futures were panicked, and when trading resumed, they frantically closed their positions again.

Soybean futures fell below 1,160 cents!

Soybean futures prices fell below 1,140 cents!

Soybean futures fell below 1,127 cents!

The second circuit breaker is coming!

……

Ji Shengshen, who was far away in Xiangjiang, was woken up by a phone call in the middle of the night.

"Hello?" Ji Sheng was speechless: "Who called so late?" ”

Bao Yugang's voice came from the other end, "Hehe, Mr. Ji, you won't blame me for calling you so late after listening to the next message I said." ”

As soon as Ji Sheng heard Bao Yugang's voice, he immediately realized that something big must have happened on the Chicago Board of Trade, "Could it be that the circuit breaker was triggered?" ”

Bao Yugang laughed and said, "Yes, the circuit breaker is triggered." ”

Ji Sheng suddenly came to his senses, "The price has dropped by five percent? ”

"What's more, it was a circuit breaker not long after the market opened today, and then after the resumption of trading, it didn't take long for the second circuit breaker." Bao Yugang's voice was full of laughter, "Even...... Just now, the third circuit breaker was triggered! ”

it!

The third circuit breaker triggered?

Is it so fast?

Ji Sheng was really taken aback, he had long known that the resumption of trading of soybean futures would inevitably fall into the over-falling stage, but he didn't expect it to fall by 20% in one day!

"I remember it was 1,253.21 cents a bushel, right? So what's the price now? Is it a thousand and two and a half cents per bushel? Ji Sheng asked.

Bao Yugang's tone was full of excitement, and he said an astonishing number, "The price of soybean futures at the time of the suspension was 1,002.1 cents per bushel!" ”

Ji Sheng gasped, "I remember that the price when we were short seemed to be one hundred and twenty-three .46 cents per bushel, right?" Now a thousand and two cents a bushel, haven't I already earned...... Earned ......"

He's still calculating.

Bao Yugang has already said the number, "Nearly 1.3 billion US dollars have been earned!" ”

Earned nearly 1.3 billion in one trading day, or dollars!

Ji Sheng almost fainted with happiness!

Of course, he knew that because the price of soybean futures was relatively high before, the falling price space that triggered the circuit breaker every day was relatively large, so he could earn nearly 1.3 billion yuan in one trading day today, and the next decline was not so big, and the profit would be less and less.

But one thing can be guaranteed, Ji Sheng feels that he can make at least more than five billion dollars this time!

Hanging up the phone, Ji Sheng didn't feel sleepy at all, and he began to calculate according to the information collected from modern society.

He remembers that according to the normal trajectory of history, the lowest price of soybeans this year should be 544.25 cents per bushel, and the price when he was short was 1,123.46 cents per bushel, if the historical trajectory remains unchanged, the price of soybeans has indeed dropped to 544.25 cents per bushel, and it is estimated that he can make less than 5.7 billion US dollars!

What does this equal to?

It is equivalent to Ji Sheng almost blowing up the bulls, and half of the 10 billion dollars invested by the Rockefeller family were earned by him alone!

Hey, looking for someone who wants to kill me?

I didn't expect my buddy to be even more ruthless, and he made more than $5 billion from the Rockefeller family directly from soybean futures!

Ji Sheng couldn't restrain his excitement, but then he calmed down, because he predicted that he could earn more than five billion dollars according to the historical trajectory.

But now that history has changed, the result is not necessarily.

For example, according to the historical trajectory, the highest soybean price this year was 829.5 cents per bushel, but after Ji Sheng instigated the three major consortiums to raise the price of soybeans against the Rockefeller family, the peak even reached more than 1,200 cents per bushel.

Now that the maximum price of soybeans has changed, who knows what will happen to the lowest price?

"Don't rush to get excited, let's see the next few days."

Ji Sheng held back the emotions in his heart, and even if he made nearly $1.3 billion a day, he didn't look for the three major groups to open up.

……

It's not just Ji Sheng who cares about the changes in soybean prices in the next few days!

Basically everyone involved in this soybean futures forced position is paying attention!

Why basically? Because the Rockefeller family did not have a margin call, it was liquidated yesterday, and 10 billion yuan was lost!

Now that they have lost all their money, the Rockefeller family will definitely not pay attention to the changes in soybean prices. Rockefeller is most concerned about how to repay the billions of dollars borrowed to force his positions, and there is only one answer, and that is to sell assets or stocks.

Not to mention that the Rockefeller family is in financial crisis.

Soybean futures on the second trading day.

Many people think that today's opening price will not plummet like yesterday, after all, it fell too much yesterday.

But what is unexpected is that today's fall is even more terrifying!

Just five minutes after the opening of the market, the price of soybeans fell from 1,002.1 cents to 952 cents, and entered the circuit breaker again!

Trading resumed fifteen minutes later, and less than half an hour later, the price of soybeans fell below 902 cents, entering the circuit breaker for the second time!

Subsequently, trading resumed again, and the price actually ushered in a small rebound, just when everyone thought it was stable, the third plunge suddenly came again, and in just one and a half hours, the price of soybeans fell below 802 cents and came to 801.68 cents, triggering the third circuit breaker, and trading was stopped on the same day!

Two days in a row to limit trading!

Soybean futures make people panic even more!

On the third day, although there was no limit to stop trading, it still fell by 17%, and the price came to 665.39!

On the fourth day, it fell by 10 percent, and the price came to 598.85!

This is also the last trading day of the week.

After seeing this price, Ji Sheng decisively contacted Bao Yugang and asked him to wait until the next transaction was closed!

He didn't dare to wait any longer, for fear that the price would bottom out.

……

Although the position has not yet been closed, Ji Sheng has already begun to plan to buy the bottom.

Today is Saturday and the futures market is not trading.

Ji Sheng returned to the beautiful country yesterday, and at this time he was in the villa and Bao Yugang on the phone to give an order, "Wait for the opening on Monday to close all positions at any price." ”

"Okay, I know how to do it." Bao Yugang couldn't get excited, "Mr. Ji, we have a brilliant record this time, can we reveal a little bit to the outside world, so that Standard Chartered Bank can take the opportunity to increase its fame?" ”

Ji Sheng said: "Don't worry. ”

Bao Yugang thought that he didn't want to know too much information to the outside world, and the customer asked for confidentiality, so he couldn't say anything, so he had to regret it: "Okay, then don't disclose it to the public." ”

However, Ji Sheng's next words startled Bao Yugang, "Well, there is no need to disclose it to the public at present, and we will talk about it after buying the bottom and making money." ”

"Huh?" Bao Yugang was stupid, "Do you still want to buy at the bottom?" ”

Ji Sheng leaned back on the sofa, "Why don't you buy it at the bottom?" ”

Bao Yugang cried and laughed: "Soybean futures were in the stage of over-falling before, from the conventional trend analysis, the next is to bottom out, but this time it has fallen too much, the impact on soybean futures is too great, who knows how long it will take to really rebound?" Don't wait for the money to fall in, the loss is not small. ”

Ji Sheng disagrees with his opinion, "At present, soybean prices have fallen to 598.85 cents per bushel, how much room do you think there is still to fall?" In the decade since the 80s, the lowest soybean price was in 1986, and I remember that the price was 469.5 cents per bushel. ”

"What if it doesn't bottom out?" Bao Yugang was very speechless and said: "For example, if you buy at the current price, and in the end it falls by dozens of cents, and when the last contract delivery day has not risen to the price when we bought it, you must not lose a lot of money?" Saying that, he persuaded very seriously, "Mr. Ji, don't blame me for talking too much, even if we close the position at the current price, you will make 5.6 billion US dollars this time, there is no need to bet, the price of soybeans is fluctuating too much now, and it is really easy to lose money." ”

More than half a billion dollars is a lot.

But such a once-in-a-lifetime opportunity, even for a time-traveler like Ji Sheng, is not something that can be encountered casually, how can he be satisfied with only making more than five billion? Besides, he is going to go to war with the beautiful country consortium next, and billions of dollars are not a big deal.

He had set a goal of making $10 billion, or at least $10 billion in soybean futures, and it would be better if he could make more.

Ji Sheng didn't explain too much to Bao Yugang, and said directly: "Help me buy the bottom from Monday." ”

Although Bao Yugang still wanted to persuade, Ji Sheng had already made up his mind, and he couldn't push the customer out, so he had to say: "Okay, how much do you buy?" ”

Ji Sheng thought for a while, "Five billion dollars and ten times leverage, or the same as before, each unit must not exceed two million bushels." ”

Bao Yugang: "......" He didn't speak for a long time, "Do you really want to be so crazy?" ”

Ji Sheng smiled and said, "I have been very cautious and only made ten times leverage. ”

Nima!

Is 10x leverage still called very cautious?

Listen, is this a human talk?

Especially now I don't know whether the price of soybean futures will continue to fall, Bao Yugang felt that Ji Sheng was too bold, so he had to say: "Yes, but can you get five billion dollars on Monday?" ”

Ji Sheng patted his head and said, "Yes, it will be delivered on Monday, and you won't get the money until Tuesday." ”

After the futures are sold, they are generally divided into two situations.

First, if it is profitable, then the margin paid for the transaction can be withdrawn on the same day, while the profit part needs to wait for the next trading day to withdraw.

If the trade is lost, then all the funds can be withdrawn directly

Ji Sheng thought about it carefully and felt that the price of soybeans may continue to fall on Monday, after all, according to the historical trajectory, the lowest price of soybeans this year will come to more than 540 cents per bushel, and now it is only 598.5 cents per bushel, which means that there is still room for decline, and he is not afraid of missing the bottom to buy, "Then buy the bottom on Tuesday." ”

"Five billion dollars sure?" Bao Yugang asked again and again.

Ji Sheng affirmed: "Yes, for five billion dollars and ten times leverage, I will fly over and sign the contract immediately." ”

"Okay." Bao Yu just responded.

Hang up.

Ji Sheng pondered, the withdrawal will not be until Tuesday, but didn't he borrow a billion dollars from Citibank before, this money is still in HSBC, if you don't have to put it away, it's really a waste, not to mention the interest.

So, he dialed the HSBC phone again.

Toot, toot, quickly connected.

John Pang's voice came from the other end, "Hello, I'm John Pang, Senior Vice President of HSBC. ”

"Hello Mr. John Pang, I'm Ji Sheng." Ji Sheng reported to his home.

John Pang immediately said politely: "Hello Mr. Ji, what can I do for you?" ”

Ji Sheng said: "Our last contract did not take effect due to force majeure, but now that it has entered a stable period, I think we can continue to fulfill the contract and change the content slightly." ”

John Pang is like a businessman, unlike Bao Yugang who also persuaded Ji Sheng, he said bluntly: "Okay, you just command." ”

Ji Sheng said: "Well, in this way, change the short to the long, I will fly over today to sign a contract with you." ”

"Okay, welcome." John Pang agreed very happily.

End the call.

Ji Sheng contacted Steve again. White asked him to accompany him to Xiangjiang to sign the contract, after all, the billion dollars were borrowed from Citibank in the name of Huajin Capital, and he had to sign the contract in the name of the company if he wanted to use the funds.

All preparations are ready.

Ji Sheng was about to leave for Xiangjiang, when suddenly, he thought of something.

"Well, Citibank, Vanguard and State Street don't know that I've made money, can I continue to trick them?" The more Ji Sheng thought about it, the more he felt that it could be implemented.

As long as the historical trajectory develops, soybean prices are bound to continue to fall, and there is a lot of room for it.

As long as Ji Sheng instigates the three major groups to buy at the bottom on Monday, if the downward trend of soybean futures is still obvious, maybe the three major groups will be bitten by snakes for ten years, and they will take the initiative to cut their positions.

As for if it really deviates from the historical trajectory and soybean prices do not continue to fall, Ji Sheng will not lose anything, at most he will let the three major groups follow him to recover some losses, and he can also gain a good reputation, for example, he is clever, what futures he likes will make a profit, and when the company's reputation rises, he can make a lot of money from customers.

Okay, that's it.

Anyway, if you don't get the pit, you won't lose anything to yourself, and if you get it, you will make a lot of money, which is equivalent to strengthening yourself and weakening the financial resources of these consortia, which will be easier to deal with in the future.

Ji Shengxin said that I am too bad, thinking about pit people all day long, it is like a bad stomach.