The soybean oil 220 1 contract will be changed to 2205 in June 2022. The soybean oil 220 1 contract refers to the contract that expires in June 2022. Investors can only hold futures contracts until the last trading day of June, 202 1, and the number on the futures code represents the contract expiration time. Therefore, according to the position limit and expiration date of several major domestic futures exchanges, the futures contracts of Dalian and Zhengzhou can be held until the end of the month before the delivery month.

I. Soybean oil futures

Soybean oil futures, the second commodity futures product approved in 2006, was officially listed on Dalian Commodity Exchange on June 5438+1October 9, 2006. It is mainly used in cooking, food, industry and medicine.

The second is the soybean oil futures contract.

1, delivery of the subject matter

Soybean oil is the general name of oil products processed from soybean. Soybean oil can be divided into crude soybean oil and finished soybean oil according to its processing degree. In China, crude soybean oil (also known as crude oil) is mainly an intermediate product of factories. At present, all soybean oil imported from China is crude soybean oil. Because soybean crude oil has the advantages of large trade volume, uniform quality, easy storage and integration with international spot and futures markets, it is a more suitable variety for futures trading.

2. Delivery level

Quality standard of soybean oil delivery in Dalian Commodity Exchange. The quality standard of soybean oil futures delivery is based on the national standard of soybean oil in China, and the project setting and value selection are basically the same. At the same time, some indicators and values that do not meet the development of the spot market have been fine-tuned. For example, the phosphorus content index which is not in the national standard but is widely used by spot enterprises is increased, the phosphorus content is designed to be ≤200mg/kg, and the acid value is adjusted from ≤4.0mg KOH/g in the national standard to ≤ 3.0 mg KOH/g, so that the domestic soybean crude oil can basically meet the delivery standard; Imported soybean oil may have solvent residue and other indicators that do not meet the standards. However, the imported soybean oil can meet the quality standard of futures delivery after simple processing. At the same time, in order to simplify the contract, soybean oil futures have no grade premium.

3. Place of delivery

Dalian Commodity Exchange designated delivery warehouse. According to the production and circulation pattern of soybean oil, the contract delivery place of soybean oil is located in Zhangjiagang, Shanghai, Tianjin and Lianyungang Rizhao, and Lianyungang Rizhao delivery warehouse is a non-benchmark delivery warehouse, which can be delivered at a discount of 50 yuan/ton. Zhangjiagang, Shanghai and Rizhao are also the delivery places of soybean No.2 contract and soybean meal contract. Such a delivery place is conducive to arbitrage trading and hedging among soybean No.2 contract, soybean meal and soybean oil contract.

4. Trading unit

10 ton/hand. In the spot market, the minimum load of a tanker used for transporting soybean oil is generally 10 ton, and the contract trading unit of soybean and soybean meal for large commercial houses is 10 ton/hand. In order to connect with the spot market and facilitate cross-species arbitrage trading, the trading unit of soybean oil contract is 10 ton/lot.