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]

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, 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 2008, DCE soybean oil futures traded 89,391,986 contracts (+236.47 percent year over year) and its turnover amounted to 8,329 billion yuan (+283.19 percent year over year).

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 Monthly Volume by Product.JPG


DCE Crude Soybean Oil futures
Exchange Dalian Commodity Exchange
Settlement Physically delivered
Contract Size 10 tons / contract
Pricing Unit 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 Electronic
Trading Hours N/A 9 - 11:30 am., 1:30 - 3 p.m. Beijing time
Ticker Symbol N/A Y
Price Limits N/A 4% of last settlement price (temporarily 5%)

Contract Volume

In 2014, the volume of DCE soybean oil futures traded ranked seventh among all agricultural futures and options contracts according to the FIA.

Year Total Annual Volume Percent Change
2014 64,082,631 (-)33.5%
2013 96,334,673 --

References

  1. DCE History. Dalian Commodity Exchange.
  2. Soybean Oil. Dalian Commodity Exchange.