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|
Product |
No.1 Soybeans |
|
Trading Unit |
10MT/contract |
|
Price Quote |
CNY/MT |
|
Tick Size |
1 CNY/MT |
|
Daily Price Limit |
4% of last settlement price |
|
Contract Months |
Jan, Mar, May, July, Sep, Nov |
|
Trading Hours |
9:00 - 11:30 am, 1:30 - 3:00 pm. Beijing Time, Monday - Friday |
|
Last Trading Day |
10th trading cay of the delivery month |
|
Last Delivery Day |
7th day after the last trading day of the delivery month |
|
Deliverable Grades |
See the attached form for details |
|
Delivery Location |
The warehouses appointed by the DCE |
|
Trading Margin |
5% of the contract value (temporarily set at 7%) |
|
Trading Fee |
No more than 4 CNY/contract |
|
Delivery Form |
Centralized delivery |
|
Ticker Symbol |
A |
Technology Requirements of No.1 Soybeans Quality
|
Delivery Grade |
Minimum Pure Kernel Yield (%) |
Seed Coat |
Impurity (%) |
Moisture (%) |
Smell, Color & Luster |
Premium (CNY/MT) |
Discount (CNY/MT) |
|
Standard |
No.3 Yellow |
91 |
Yellow, more than 95% |
1 |
13 |
Normal |
- |
- |
|
Substitute |
No.1 Yellow |
96 |
30 |
- |
|
No.2 Yellow |
93.5 |
10 |
- |
|
No.4 Yellow |
88.5 |
- |
30 |
Notes:
1. Soybeans: Seed coat is yellow; inside is yellow-brown, light-brown, dark brown, black or other color; grain shape is round, oval or oblate;
2. Genetically modified (GMO) soybeans are not permitted to be delivered;
3. Delivery price of standard soybeans = delivery settlement price;
4. Delivery price of substitute soybeans = delivery settlement price + substitution premium/discount + quality premium/discount;
5. The standard and method of quality inspection are subject to GB5490-5539-85 Grain, Oil Plants and Floral Grease Inspection;
6. Sanitation standard and creatural & floral quarantine are subject to relevant national rules;
7. See attached Form 2 for the allowable range of moisture and impurities;
8. The packaging requirements are subject to the DCE delivery rules;
9. Warehouse entry target: crude fat acid value ¡Ü 3.5, protein dissolving rate ¡Ý 75; warehouse exit target: crude fat acid value ¡Ü 5.0, protein dissolving rate ¡Ý 60.
Quality Premium/Discount for No.1 Soybeans
|
Item |
Quality Standard (%) |
Allowable Range (%) |
Quality Difference (%) |
Premium/Discount
(CNY/MT) |
Notes |
|
(Higher +; Lower -) |
|
Moisture |
13 |
Contract of Nov., Jan. and Mar. < 15.0; |
-1 |
20 |
1.Premium for moisture content less than 12%; |
|
Contracts of May, July and Sep. ¡Ü 13.5 |
1 |
-55 |
2.Premium/discount not calculated if within 1.0% of quality standard |
|
Impurities |
1 |
< 2.0 |
-0.5 |
10 |
Premium/discount not calculated if within 0.5% of quality standard |
|
0.5 |
-30 |
Notes: Quality Premium/Discount = Moisture Premium/Discount + Impurity Premium/Discount
Trading History
No. 1 Soybean (non-genetically modified) contracts began trading at the DCE on March 15th, 2002. Prior to that date, soybeans traded at the DCE under the general title ¡°Soybeans¡±.
|
Year |
Volume* |
YOY Increase |
|
2002 |
25,379,870 |
- |
|
2003 |
120,001,616 |
372.82% |
|
2004 |
114,681,606 |
-4.43% |
|
2005 |
80,071,414 |
-30.18% |
|
2006 |
17,794,122 |
-77.78% |
|
2007 |
94,865,442 |
433.13% | * Volume = # of contracts (bilateral)
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