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Soybean Meal Futures Contract of Dalian Commodity Exchange ("DCE")

Product

Soybean Meal

Trading Unit

10 MT/Lot

Price Quote Unit

CNY/MT

Minimum Tick Size

1 CNY/MT

Daily Price Limit Range

4% of last settlement price

Contract Months

Jan, Mar, May, Jul, Aug, Sep, Nov, Dec

Trading Hours

9:00 - 11:30 a.m., 1:30 - 3:00 p.m., Beijing Time, Monday to Friday, and other trading hours announced by DCE

Last Trading Day

The 10th trading day of the contract month

Last Delivery Day

The 3rd trading day after the last trading day

Deliverable Grades

Soybean Meal Delivery Quality Standard of DCE (F/DCE M004-2020)

Delivery Point

The delivery warehouses of soybean meal designated by DCE

Minimum Trading Margin

5% of the contract value

Delivery Form

Physical delivery

Ticker Symbol

M

Listed Exchange

DCE

Note: DCE may adjust the daily price limit ranges and the trading margins of each contract according to market conditions. For details of current trading parameters of each contract, please see below website:

http://www.dce.com.cn/DCE/TradingClearing/Business%20Parameters/Trading%20Parameters/index.html

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

Soybean Meal Delivery Quality Standard of Dalian Commodity Exchange ("DCE")(F/DCE M004-2020)

1  Main content and applicable scope

1.1  The standard herein (the "Standard") stipulates the quality requirements, testing methods, inspection rules, labeling, packaging, transportation and storage requirements for soybean meal delivered at DCE.

1.2  Soybean meal as stated in soybean meal futures contract of DCE refers to soybean meal used as ingredient for animal feed and obtained after pre-pressing solvent extraction or direct solvent extraction of oil from the soybean; or obtained after solvent extraction of oil from the soybean cake; or obtained after expansion-solvent extraction of oil from the soybean flakes, with its places of production unrestricted.

1.3  The Standard applies to standard products delivered under the soybean meal futures contract of DCE.

2  Cited rules and standards

The provisions of the following documents are incorporated as the provisions of the Standard by reference. For those cited documents noted with dates, all of their following amendments (excluding corrections) and revised versions shall not be applied to the Standard; for those without noted dates, their latest versions shall be applied to the Standard.

GB/T 19541-2017 Feed Materials - Soybean Meal

3  Terms and definitions

Subject to the relevant terms and definitions of GB/T19541-2017.

4  Quality requirements

4.1  Sensory characteristics: Light yellow, light brown or reddish brown; irregularly shaped pieces, coarse granular or coarse powder; no fermentation, mildew, insect pests or peculiar odors/smells.

4.2  Quality standards for standard products:

Item

Scope

Moisture /%

≤13.0

Crude Protein /%

≥43.0

Crude Fiber /%

≤7.0

Crude Ash /%

≤7.0

Urease Activity /(U/g)

≤0.3

Protein Solubility in Potassium-hydroxide Solution/%

≥70.0

4.3  Hygienic index: shall be subject to the relevant rules of hygienic index in GB/T 19541-2017.

5  Testing methods, inspection rules, labeling, packaging, transportation and storage requirements

Packaging: subject to the relevant rules of the Detailed Rules of Soybean Meal Futures of Dalian Commodity Exchange; others shall be subject to the testing methods, inspection rules, labeling, transportation and storage requirements of GB/T 19541-2017.

6  Additional note

The Standard shall be subject to the interpretation of DCE.

 

Disclaimer: This English translation may be used for reference only. In cases there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.


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