DCE Crude Soybean Oil
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DCE soybean oil futures trade on the Dalian Commodity Exchange (DCE). Soybean oil futures were launched on January 9, 2006.[1]
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Each DCE soybean oil futures contract represents 10 tons of deliverable grade soybean oil, which is defined in accordance with DCE Delivery Quality Standard, and its last delivery date is set as the third day after the last trading day of the delivery month.[2]
Effective March 24, 2008 (the official website has not been updated yet), each DCE soybean oil contract is subject to a margin rate equivalent to seven percent of contract value, up from the previous five percent (e.g., 7644 yuan = 10920 yuan [Y809 last price on June 3, 2008] x 10 [tons/contract] x seven percent) as well as a trading fee of no more than six yuan (RMB) / contract.
In 2007, DCE soybean oil futures traded 26,567,732 contracts (+28.56 percent year over year) and its turnover amounted to 2,173.6 billion yuan (+94.06 percent year over year), up considerably from the first year of trading in 2006.
China extracts the majority of soybean oil from imported beans, 90 percent of which are currently coming from Argentina and Brazil, and therefore, oil extraction facilities are concentrated in such coastal provinces as Jiangsu, Shandong, Liaoning, and Guangdong.
| DCE Crude Soybean Oil futures | ||
|---|---|---|
| Exchange | Dalian Commodity Exchange | |
| Settlement | Physically delivered | |
| Trade Unit | 10 tons / contract | |
| Point Value | 10 yuan (RMB) | |
| Tick Value | 20 yuan (RMB) | |
| Contract Months | Jan, Mar, May, July, Aug, Sep, Nov, Dec | |
| Last Trading Day | 10th Trading Day of the Delivery Month | |
| Note: This contract is electronic ONLY -- no open outcry | ||
| No Open Outcry | No Electronic Market | |
| Trading Hours | N/A | 9 - 11:30 am., 1:30 - 3 p.m. |
| Ticker Symbol | N/A | Y |
| Price Limits | N/A | five percent of last settlement price (the official website has not been updated yet) |
References
- ↑ DCE History. Dalian Commodity Exchange. Retrieved on June 2, 2008.
- ↑ Soybean Oil. Dalian Commodity Exchange. Retrieved on June 4, 2008.
