The contract of 1. 130 1 was delisted after the delivery date of 13+0, and the corresponding contract of 140 1 was listed. This shows that the longest trading time of futures contracts is one year. The first day of the new listing contract is usually larger than the contract, generally about 2 times, in order to facilitate the market to find a reasonable price, so if you look at the chart, there will be a big price gap between the expiration of the old contract and the listing of the new contract.

2. The price is different because the expiration date of the contract is different. 130 1 and 1303 stands for 1 and expires in March. The closer the contract is to the expiration date, the closer the price is to the spot price. For example, not far from 13 1, the price of 130 1 will gradually approach the spot soybean meal price, and the greater the correlation with the spot price fluctuation. But March is still far away. The March contract price reflects the market's expectation of the spot price in March, and it is also a comprehensive reflection of the corresponding position cost. So the price in distant months is usually higher than that in recent months. It can be understood by referring to the definition of futures.

To put it more simply, 130 1 reflects the market expectation of the spot price in June 13, and 1303 reflects the expectation of the spot price in March, which will definitely be different.