Soybean meal is a by-product of soybean oil extraction. According to the different extraction methods, it can be divided into two kinds: one-soaking soybean meal and two-soaking soybean meal. Among them, the by-product after extracting soybean oil by extraction method is one-dip soybean meal, and the by-product after extracting oil by pressing is called two-dip soybean meal. Temperature control is very important in the whole processing process. Excessive temperature will affect the content of protein, so it is directly related to the quality and use of soybean meal. Low temperature will increase the moisture content of soybean meal, while high moisture content will affect the quality of soybean meal during storage. One-dip soybean meal has advanced production technology and high protein content, which is the main variety circulating in the domestic spot market at present.

According to national standards, soybean meal is divided into three grades, namely, primary soybean meal, secondary soybean meal and tertiary soybean meal. Judging from the current domestic soybean meal spot market, the total domestic soybean meal processing (excluding imported soybean meal) in100000 tons in 1999, of which the first-class soybean meal accounts for about 20%, the second-class soybean meal accounts for about 75% and the third-class soybean meal accounts for about 5%. The circulation change of tertiary soybean meal is mainly related to the quality of soybean. Judging from the market demand of different grades of soybean meal, a few powerful large feed mills in China use first-class soybean meal, and most feed mills mainly use second-class soybean meal (protein content is 43%). Secondary soybean meal is still the mainstream product in the domestic soybean meal consumption market, and tertiary soybean meal is rarely used.

Soybean meal is generally irregular and fragmented, with light yellow to light brown color and the smell of baked soybeans. The main components of soybean meal are: protein 40% ~ 48%, lysine 2.5% ~ 3.0%, tryptophan 0.6% ~ 0.7% and methionine 0.5% ~ 0.7%.

Soybean meal is the largest and most widely used of cottonseed meal, peanut meal and rapeseed meal 12 animal and vegetable oil meal feed products. As a kind of high protein, soybean meal is the main raw material for making livestock feed, and can also be used for making pastry food, health food, cosmetics and antibiotics.

Basic uses of soybean meal

Soybean meal is the largest and most widely used of cottonseed meal, peanut meal and rapeseed meal 12 animal and vegetable oil meal feed products. As a kind of high protein, soybean meal is the main raw material for making livestock feed, and can also be used for making pastry food, health food, cosmetics and antibiotics.

About 85% of soybean meal is used to feed poultry and pigs, and various amino acids contained in soybean meal are suitable for the nutritional needs of poultry and pigs. Experiments show that the amino acids contained in soybean meal alone are enough to balance the nutrition of poultry and pigs without adding extra animal protein, thus promoting the nutrition absorption of livestock. Soybean meal has been used to the greatest extent in poultry and pig breeding. Only when the unit protein cost of cottonseed meal and peanut meal is much lower than that of soybean meal will they be considered for use. In fact, soybean meal has become the benchmark for comparison with other sources in protein.

In the feeding process of dairy cows, delicious and digestible soybean meal can increase milk production. Soybean meal is also one of the most important oilseed cakes in beef cattle breeding. Soybean meal is also used to make pet food. Simple mixed food of corn and soybean meal has the same value as food made of high animal protein. In recent years, soybean meal has also been widely used in aquaculture. A variety of amino acids contained in soybean meal can completely meet the special needs of fish for amino acids.

Characteristics of soybean meal futures trading

1, contract standardization-except for the price, all contract terms are stipulated in advance and unified throughout the country.

2. Centralized trading-Soybean meal must be traded in Dalian Commodity Exchange.

3. Two-way trading and hedging mechanism-traders can buy futures contracts when the price is low and sell them after the price rises; You can also sell when the price is high, and then buy a hedge to close the position after the price falls.

4. Daily debt-free settlement system-funds settle the profits and losses of the trading parties after daily trading.

5. Margin system and leverage mechanism-Corresponding to high risks, the futures market is also a high-yield market. Futures trading only needs to pay a small amount of margin, which is generally about 10 of the contract, and it can complete several times or even dozens of times of contract trading.