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Soybean Futures

Contract Specifications

Type of Trade Physically Delivered Futures Transaction
Standard GMO, GMO mixed and GMO non-segregated No. 2 or better yellow soybeans produced in the U.S.A. (Stored in silo, without screening and sorting processing)
Opening Date February 12, 2013
(Note) transferred from TOCOM on July 27, 2020
Trading Hours 8:45-15:15, 16:30-6:00
(Note) An order acceptance period ("pre-closing") is established for 5 minutes before the Itayose on close.
Trading Hours
Contract Months Nearest 6 months (February, April, June, August, October, December)
Last Trading Day The 15th day of the contract month
Contract Unit 25,000kg
Price Increment \10 per 1,000 kg (\250 per Contract Unit)
Delivery Unit 25,000kg
Price Limits
  1. The price limit range shall be calculated by multiplying the reference price of price limits by 10%.
    (Note) No expansion
    Price Limits/ Circuit Breaker Rule
    (Note) OSE may review price limit temporarily considering market conditions and other factors.
  2. Immediately Executable Price Range (DCB) : LTP ±\500
    ※However, the DCB Price Range for Opening Auction and Closing Auction will be ±\1,500 and ±\1,000 respectively.
    Immediately Executable Price Range Rule
Circuit Breaker No trading Halt
Strategy Trades The calendar spread trading is available.
J-NET Trading Available（Tick size：\1, Minimum trading unit：1 unit）
J-NET Trading
Holiday Trading Available
Holiday Trading
Daily Settlement Price Final Execution Price of Individual Auction
(Note)Regardless of the above, SP may be revised as the figure deemed appropriate by Japan Securities Clearing Corporation (JSCC) .
Settlement Price of Last Trading Day (Delivery Price) The volume-weighted average price calculated based on execution prices and volume formed through Individual Auction during the Day Session on the Last Trading Day
Delivery Day and Time Each business day (by noon) during the period from the 3rd business day after the last trading day of the current contract month to the last business day of the current contract month except December (by noon on the day that is 3 business days before the last business day of December)
Delivery Points Designated commercial warehouses in Tokyo, Kanagawa, Chiba, Saitama, and Ibaraki
Method of Delivery The Party Making Delivery submits to JSCC a warehouse receipt, issued by a OSE-designated warehouse, for the delivery good. The Party Taking Delivery pays the Delivery Value based on the delivery price to JSCC.
（Note)Customized Delivery, Declared Delivery, Early Delivery and ADP are available besides Basic Delivery.
Operational Procedures for Settlement by Delivery related to Commodity Futures Contracts
Customer Position Limits (separately for long and short positions)
Current contract (expiry month) Current contract (month before expiry month) 2nd contract month 3rd contract month 4th contract month and thereafter (each)
Customers 400 contracts 800 contracts 2,000 contracts 4,000 contracts
Commercials, Investment trusts and Market maker 400 contracts 800 contracts 2,000 contracts 4,000 contracts 8,000 contracts
Margin Calculated by VaR Method
Margin Calculation Method (VaR Method) for Futures and Options (JSCC)
Settlement ・Resale or repurchase
・Final settlement (physical delivery)
Give-Up Available
Give-Up System
Position-Transfer Available
Position Transfer Systemicon-block
Position Reporting

Applicable contract months: All contract months

Parties required to report: Trading Participants and Eligible Intermediaries, when short or long positions entrusted by a single client exceed the reporting criteria below

Information to be reported: Short positions and long positions for all contract months for the relevant issues

(Even if only one of the short or long position for one contract month exceeds the reporting criteria, it is necessary to report the quantities of both short and long positions in all contract months.)

Entrusted by other Trading Participants or Eligible Intermediaries Entrusted by customers other than these
Reporting criteria 1 contract 51 contracts

Measurement date: Every business day (at the end of the day session)

(note)
  • ･Commercials are those who commercially engage in trade, intermediary, brokerage, agency, production, processing or use of commodities.
  • ･Eligible Intermediaries are brokers, foreign securities services providers, or foreign commodity futures brokers who are subject to the application of special measures concerning limits on the quantity of positions.