DCE Soybean Meal

From MarketsWiki

DCE soybean meal futures trade on the Dalian Commodity Exchange (DCE). Soybean meal futures have been trading on the DCE since 1998, but the current contract was officially launched on July 17, 2000.^[1]

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Each DCE soybean meal futures contract represents 10 tons of deliverable grade soybean meal, which is defined in accordance with DCE Delivery Quality StandardF/DCE D001-2006, and its last delivery date is set as the fourth 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 meal contract is subject to a margin rate equivalent to seven percent of contract value, up from the previous five percent (e.g., 2613.1 yuan = 3733 yuan [M809 last price on June 3, 2008] x 10 [tons/contract] x seven percent) as well as a trading fee of no more than three yuan (RMB) / contract.

In 2007, DCE corn futures traded 129,438,932 contracts (+105.14 percent year over year) and its turnover amounted to 39,138 billion yuan (+165.89 percent year over year), making it the most active (in terms of volume) futures contract on the DCE as well as in China's overall futures market.

DCE Soybean Meal futures
Exchange	Dalian Commodity Exchange
Settlement	Physically delivered
Trade Unit	10 tons / contract
Point Value	10 yuan (RMB)
Tick Value	10 yuan (RMB)
Contract Months	Jan, Mar, May, Jul, 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	M
Price Limits	N/A	five percent of last settlement price (the official website has not been updated yet)

References

1. ↑ DCE History. Dalian Commodity Exchange. Retrieved on June 2, 2008.
2. ↑ Soybean Meal. Dalian Commodity Exchange. Retrieved on June 3, 2008.