DCE No.1 Soybeans
DCE No.1 soybeans futures trade on the Dalian Commodity Exchange (DCE). They were launched March 15, 2002, following the Ministry of Agriculture's issuance of the Administration Measures on the Safety Evaluation of the Safety of Agro-GMOs, the Administration Measures on Safe Importation of Agro-GMOs, and the Administration Measures on the Labeling of Agro-GMOs on January 5th 2002 (all of which took effect on March 20th 2002).
Each DCE No.1 soybeans futures contract represents 10 tons of deliverable grade non-genetically modified organism (GMO) No.3 yellow soybeans, which is defined in accordance with DCE Delivery Quality Standard, while No.1 yellow soybeans (30 yuan/ton premium), No.2 yellow soybeans (10 yuan/ton premium), and No.4 yellow soybeans (10 yuan/ton discount) that meet DCE delivery rules can be substitutes, and its last delivery date is set as the seventh day after the last trading day of the delivery month.
Effective March 24, 2008, each DCE No.1 soybeans contract is subject to a margin rate equivalent to seven percent of contract value (e.g., 3139.5 yuan = 4485 yuan [A901 last price on June 2, 2008] x 10 [tons/contract] x 7 percent) as well as a trading fee of no more than four yuan (RMB) / contract.
|DCE No.1 Soybeans futures|
|Exchange||Dalian Commodity Exchange|
|Contract Size||10 tons / contract|
|Pricing Unit||10 yuan (RMB)|
|Tick Value||10 yuan (RMB|
|Contract Months||Jan, Mar, May, July, Sep, Nov|
|Last Trading Day||10th Trading Day of the Delivery Month|
|Note: This contract is electronic ONLY -- no open outcry|
|No Open Outcry||Electronic|
|Trading Hours||N/A||9 - 11:30 a.m., 1:30 - 3 p.m. Beijing time|
|Price Limits||N/A||4% of last settlement price (temporarily 5%)|
In 2014, the volume of DCE No. 1 Soybean futures traded ranked thirteenth among all agricultural futures and options contracts according to the FIA.
|Year||Total Annual Volume||Percent Change|