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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 D001-2006)

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 D001-2006)

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 for feeding purpose which is produced after soybean oil extraction by way of crushing-leaching or leaching, with its places of production unrestricted.

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

Cited rules and standards

Subject to the relevant rules of GB/T19541-2004

Terms and definitions

Subject to the relevant terms and definitions of GB/T19541-2004

Quality requirements

4.1  Sensory characteristics: Pale brown or light yellow irregularly shaped pieces, powder or granular, not fermented or moldy, with no extruding agglomerations, moth-eaten sections, or peculiar odors/smells.

4.2  Impurities and sundries: subject to the relevant rules of GB/T 19541-2004.

4.3  Quality standards for standard products:

Item

Scope

Moisture(%)

13.0

Crude Protein (%)

43.0

Crude Fiber (%)

7.0

Crude Ash (%)

7.0

Urease Activity

(Calculated by Ammonia Nitrogen) [mg/(min·g)]

0.3

Note: Crude protein, crude fiber and crude ash shall be calculated based on 87% dry substances.

4.4  Hygienic standard: shall be subject to the relevant rules of GB/T 19541-2004

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

Packaging: subject to the relevant rules of the Detailed Delivery Rules of Dalian Commodity Exchange; others shall be subject to the testing methods, inspection rules, labeling, transportation and storage requirements of GB/T 19541-2004

Additional notes

6.1   The Standard shall be subject to the interpretation of DCE.

6.2  The Standard shall be implemented from the contracts of March 2007.

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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