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When the new futures contract comes out, how is the price determined?
Considering the current spot price, seasonal factors, the current future supply and demand relationship, the recent average contract price in the first few months of 1 month, plus a certain premium, refer to the prices of soybeans and soybean meal in the United States. The listing price of the contract is only a rough estimate, which is close to the contract price in the nearby transaction month, but generally there is not much difference. This is roughly how the price is determined.