On March 28th, 2009, the General Administration of Quality Supervision, Inspection and Quarantine and the National Standardization Administration approved the release of new national standards such as corn (GB 1353-2009) and soybean (GB 1352-2009), and the new standards were officially implemented on September 1 2009.

Among the new soybean standards, there are 1 1 and 7 corn standards. In the new national standard of soybean, the application scope of the original standard was revised, the classification and attribution of imperfect grains were adjusted, and the classification of soybean was revised. The quality indexes were revised, and the quality indexes of high-oil soybeans and high-protein soybeans were put forward, and the labeling requirements of judgment rules were increased. The new standard takes the whole grain rate as the grading index, and impurities, moisture, color and smell as the limiting indexes. The index of soybean heterochromatic grains is adjusted to the category control index, that is, the category control index is ≥95%.

In the new national standard of corn, the grade series is mainly adjusted, the determination method of bulk density is modified, the determination method of bulk density of corn with water content greater than 18% is added, the imperfect grain index is adjusted, and the inspection rules and labeling requirements are added. The new national standard still takes the packing density as the grading index, and the bad particles, impurities, moisture, color and smell as the limiting indexes. The confounding index has not changed, but it has been adjusted to the category index, that is, the category control index is greater than or equal to 95%.

The system modifies the rules related to the contract.

Because the relevant provisions of the new national standard are mandatory, the existing quality standards of soybean 1, soybean 2 and corn futures contracts need to be revised accordingly to respond to the policy requirements and connect with the new national standard. It can be seen from this revision that the new contract-related rules, while implementing the new national standard, take into account the inheritance of the original futures contract-related rules, take into account spot trade and industry practices, expand the available delivery volume of goods, and help promote the play of market functions.

The new national standard and the new futures contract have been greatly revised in form, but they have little substantial impact on the market. If the current quality standard of futures contract does not conflict with the new national standard, the indexes such as pure grain rate and whole grain rate of soybean in the new and old national standards can be converted by formulas, and the bulk density determination of corn in the new and old national standards can also be converted according to the corresponding values. Although the grades of some converted commodities are different, the premium and discount standards for futures delivery are basically consistent with the original contract rules. At the same time, in order to maintain the stability of the market and the continuity of prices, the revised contract quality standards are implemented from the newly listed contract, and the original rules are still implemented in the listed contract, which is in line with the industry common practice of "old grain methods and new grain methods" and avoids the market shock caused by the revision of contract rules. In view of the fact that the packaging label is a mandatory standard of the new national standard, which is unified with the circulation of spot goods, the newly registered standard warehouse receipt will be implemented when the new national standard comes into effect in September 2009 1 Japan.