Soybean Meal
 

Product

Soybean Meal

Trading Unit

10 MT/contract

Price Quote

CNY/MT

Tick Size

1 CNY/MT

Daily Price Limit

4% of last settlement price

Contract Months

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

Trading Hours

9:00 - 11:30 am, 1:30 - 3:00 pm Beijing Time, Monday to Friday

Last Trading Day

10th trading day of the delivery month

Last Delivery Day

4th trading after the last trading day of the delivery month

Delivery Grades

DCE Quality Specification for the Delivery of Soybean Meal (F/DCE D001-2006)

Delivery Location

The warehouses appointed by the DCE

Trading Margin

5% of the contract value

Trading Fee

No more than 3 CNY/contract

Delivery Pattern

Physical delivery

Ticker Symbol

M


DCE Quality Specfication of the Delivery Soybean Meal(F/DCE D001-2006)

1.Subject and Application:
1.1 The standard herein dictates the quality requirements, testing methods, inspection rules, labeling, packaging, conveyance and storage of soybean meal delivered at the DCE.
1.2 The soybean meal dictated in DCE contracts refers to that used for feed; there is no limit regarding production location.
1.3 The standard herein applies to standard soybean meal futures contracts delivered at the DCE.
2. Normative References
Normative references are subject to the relevant rules of GB/T 19541!2004.
3. Terminology and Definitions
Terminology and definitions are subject to the relevant rules of GB/T 19541!2004.
4. Requirements
4.1 Sensory characteristics: Pale brown or light yellow irregularly shaped pieces; powder or granular; not fermented or moldy; no extruding agglomerations, moth-eaten sections, or odors/smells.
4. 2 Impurities and Sundries: Impurities and Sundries are subject to the relevant rules of GB/T 19541!2004.
4.3 Quality specifications for delivery of standard soybean meal: 

Item

Par

Moisture

+13.0%

Crude Protein

−43.0%

Crude Fiber

+7.0%

Ash Content

+7.0%

Urea activity (ammonia nitrogen) [mg/(min,g)]

+0.3

 

Note: Crude protein, crude fiber and ash content should be calculated based on 87% dry material.
4.4 Sanitation standard: The sanitation standard is subject to the relevant rules of GB/T 19541!2004.
5. Testing methods, inspection rules, labeling, packaging, conveyance and storage
packaging are subject to the relevant rules contained in The Detailed Delivery Rules of Soybean Meal, Corn And No. 2 Soybeans of the Dalian Commodity Exchange. The others are subject to the relevant rules of GB/T 19541!2004.
6. Additional explanation:
The DCE is responsible for the interpretation of the standard herein.


Trading History

Soybean meal contracts began trading at the DCE on July 17th, 2000.

Year

Volume*

YOY Increase

2000

1,142,368

-

2001

3,823,964

234.74%

2002

8,808,268

130.34%

2003

29,906,796

239.53%

2004

49,501,916

65.52%

2005

73,476,364

48.43%

2006

63,099,338

-14.12%

2007

129,438,932

105.14%

2008

162,530,878

25.57%

2009

310,808,058

91.23%

*  Volume = # of contracts (bilateral)

 
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