As a sub-variety derived from the soybean futures market and closely related to the soybean contract, the US soybean oil contract has been welcomed by investors since its listing, and the market scale has been expanding. At present, it has become one of the most active trading varieties of CBOT. In CBOT soybean variety series, the annual turnover and positions of soybean oil remain at 20-30%.

In the United States, soybean oil is transported and stored in oil tanks, the volume of which is 60,000 pounds. In order to reflect this circulation feature and facilitate delivery, CBOT designed each soybean oil contract to be 60,000 pounds. CBOT US soybean oil futures contract: trading variety: soybean oil trading specification: 60,000 pounds. Delivery grade: it meets the grades and standards stipulated by the Exchange (see the annex to these Rules for details). Minimum change unit:1100 cents/pound ($6/piece). Quotation unit: cents/pound. Contract delivery month:10,6544. 9 Last trading day: the last trading day before the15th natural day of the delivery month: the last trading day of the delivery month: (open bidding) 9: 30 a.m.-1:15p.m. from Monday to Friday, Chicago time; (Electronic transaction) 8: 30 pm-6: 00 am, Sunday to Friday, Chicago time; Expired contracts are traded until noon on the last trading day. Trading code: open outcry: Bo electronic trading: ZL price limit range: 2 cents/pound (1.200 USD/piece) (not limited from two trading days before the delivery month). In the spot market, soybean oil and soybean meal are downstream products of soybean, and 1 ton soybean can produce 0.8 tons of soybean meal and 0.2 tons of soybean oil.

CBOT fully considered this when designing the soybean oil contract. Compared with the specification of 5000 bushels (equivalent to 300000 Jin) per hand in the soybean contract, the specification of 1 hand soybean oil is determined to be 60000 Jin, which is 1/5 of the soybean specification. Soybean crude oil has the characteristics of uniform quality, stable properties and easy storage and transportation, and is widely used in domestic and international trade in the United States. In order to connect with the spot, CBOT designed the subject matter of soybean oil contract as soybean crude oil.

The minimum fluctuation price stipulated in the contract is 0.0 1 cent/pound, and the daily fluctuation is limited to plus or minus 2 cents/pound of the settlement price of the previous trading day, which means that market participants have 400 prices to choose to open positions, which, like soybeans, are much higher than wheat, corn and other varieties. Market participants in soybean oil futures can get relatively quiet opportunities to enter and leave the market, which increases the market depth and improves the market liquidity.