1, the first bean contract delivery standard is non-GMO soybeans, while the second bean contains soybeans from all over the world, including transgenic and non-GMO soybeans.
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; The soybean oil extraction index system based on the national standard for oil soybeans is adopted in the contract No.2 of Yellow Soybean, with crude fat content as the core grading index.
3. The scope of deliverables is different. Yellow soybean contract 1 only non-GM soybeans are allowed 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
Overview of soybean spot: the global soybean harvest is divided into two periods in the northern and southern hemispheres. The soybean harvest period in South America (Brazil and Argentina) is from March to May every year, while the soybean harvest period in the United States and China in the northern hemisphere is from September to June. So every six months, soybeans can be supplied centrally. The United States is the largest supplier of soybeans in the world, and China is one of the largest importers in the international soybean market.
The United States, Brazil and Argentina are the main producers of genetically modified soybeans, while China is the main producer of non-genetically modified soybeans. Soybean crop production is mainly concentrated in Heilongjiang, Jilin, Liaoning, Inner Mongolia, Henan, Shandong and other provinces. Bean one futures delivery corresponds to non-GMO soybeans.