2. Different standards. ContractNo. Soybean 1 adopts the index system of edible soybean based on the current national standard of soybean and with pure grain rate as the core grading index; Yellow Soybean No.2 Contract adopts the soybean index system for oil extraction based on the national standard of soybean for oil and fat and with crude fat content as the core grading index.
3. The scope of deliverables is different. The soybean 1 contract only allows non-GMO soybeans to participate in delivery; Soybean No.2 futures contract allows genetically modified soybeans and non-genetically modified soybeans to participate in delivery.
Contract pricing and delivery packaging are different. In terms of contract pricing, the contract price of soybean 1 includes packaging, so the contract No.2 of soybean adopts bulk and bagging in parallel, taking into account the different packaging methods of imported and domestic soybeans, while the contract No.0 of soybean 1 only adopts bagging, which is consistent with the bagging method of domestic soybeans in spot circulation.
Extended data:
The policy thinking of domestic soybean involves the problem of domestic planting area. If the cultivated land area in China is not enough to ensure the complete domestic production of soybeans, it is an inevitable choice to give up oil crops under the background of giving priority to ration crops.
The government only maintains a minimum domestic supply, but in terms of downstream consumption, although the state has strict control over genetically modified crops, it does not encourage giving priority to promoting non-genetically modified crops. This policy has its own deep-seated contradictions, and there will be no fundamental adjustment in the short term.
The object of Douyi is domestic soybeans, which are not genetically modified and are mainly used for eating, such as tofu, bean sprouts and soybean oil that we eat. The target of bean 2 is imported soybean, genetically modified, mainly used to squeeze soybean meal and soybean oil. The former is a niche agricultural product, and the latter is a hedging product of standard American soybeans, because China soybeans mainly rely on imports, and enterprises need domestic products to hedge.