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To adapt to the changes in the soybean oil spot market and ensure smooth delivery, Dalian Commodity Exchange (DCE) issued an announcement on August 12, 2022, titled “Amendments to the Business Rules for Soybean Oil Futures of Dalian Commodity Exchange”. This announcement shortens the validity period of soybean oil futures standard warehouse receipts from a maximum of 12 months to a maximum of four months, starting from the first trading day of August 2023.
According to the announcement, the latest deregistration date for soybean oil futures standard warehouse receipts will be adjusted from the last trading day of March to the last trading day of March, July, and November each year. Based on this adjustment, soybean oil futures standard warehouse receipts registered after the last trading day of March 2023 should be deregistered before the last trading day of November 2023.
By shortening the validity period of soybean oil futures standard warehouse receipts, DCE adapts to industry changes and demands and aims to achieve the following benefits. The adjustment will directly reduce the in-storage time of deliverable soybean oil, ensuring its quality to meet the quality requirements demanded by buyers. Additionally, the shortened validity period will accelerate the turnover speed of deliverable soybean oil, facilitating the release of capacity in warehouses and warehouse receipt quotas by factory warehouses. In doing so, DCE will enhance the efficiency of soybean oil delivery warehouses, increase available delivery resources, and better meet clients’ delivery needs.
