Factory-warehouse delivery of soybean meal futures is a form of credit warehouse receipt, which is opposite to warehouse warehouse receipt. Warehouse receipt is a kind of physical delivery certificate issued by oil factory based on credit and in accordance with the procedures stipulated by the exchange, which meets the quality agreed in the soybean meal contract.

Advantages of "replacing warehouse with factory": the oil factory only arranges processing and production when the soybean meal buyer issues the warehouse receipt to pick up the goods, which can ensure the freshness; The oil factory does not need to store the physical objects corresponding to the warehouse receipt quantity in advance, which saves the storage cost and space. buyer

Pick up the goods directly in the oil plant, avoiding the transportation and loading and unloading costs between the oil plant, warehouse and feed enterprises; Buyers go directly to the oil plant to pick up the goods, which avoids the circuitous transportation of goods and improves the effectiveness of resource allocation.