Recently, China Securities Regulatory Commission (CSRC) has approved Dalian Commodity Exchange (DCE)’s launch of soybean meal options on futures. Currently, DCE is seeking public comment on the contract specifications and related rules. After these are finalized and reviewed by DCE’s board of directors, DCE will submit another application to CSRC for officially list the contract.
In 2015, DCE’s soybean meal was the agricultural futures contract with the highest trading volume worldwide. Corporate clients accounted for over 50% of its total open interest. The market has successfully attracted extensive participation from large state-owned enterprises, international grain and oils giants, and domestic oil mills and trade companies from the private sector. More than 90% of the domestic producers with a daily crushing capacity of 1,000 tonnes and above have participated in the trading of DCE’s soybean meal futures. With strong demand for more risk management tools, the industry participants have been calling for the launch of soybean meal options for many years.
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