Three soybean options today listed on the soybean industry chain series of varieties to achieve full coverage of futures options

[Dahe Daily · Dahecai Cube] (Reporter Chen Yujing Zhang Keyao) Another more risk aversion tool.

On August 8th, the options of Huang Soy 1, Huang Soy 2 and soybean oil were listed on the market, which means that the soybean industry chain series varieties have achieved full coverage of futures options.

Yang Baolong, president of the China Soybean Industry Association, said that various market entities such as state -owned, private and foreign enterprises use soybean series of futures hedging price risks, stabilize operations, and achieve good results. In the context of the increasing uncertainty of the external environment and the increased spot price fluctuations, the listing of the soybean series of options will jointly build a complete risk management tool system with the futures industry to help the soybean industry enterprise improve the management risk level, stabilize production and operation and operation to stabilize production and operation Essence

Link with the futures market

Establish a complete risk management system for the soybean industry

On the morning of August 8th, the options of Huang Soy 1, Huang Soy 2 and soybean oil were officially listed on the Dashang Institute. Earlier, the four bean futures of Huangdo bean No. 1, Huang Soy 2, soybean oil, and soybean meal of Dashang Institute Essence

Today, the three soybean options are listed, achieving full coverage of futures options for the soybean industry chain series.

According to the big business office, the monthly listing of Huangdo Doy 1, Huang Soy 2, and Soybean Periodical Period Period Periods of the Soybean Period Starting on the first day, the monthly contracts of the monthly rights of the Soybean oil futures starting from A2211, B2211, and Y2211, respectively. The monthly listing month of 5 contracts for futures options of Huangdo Soy 1 is A2211, A2301, A2303, A2305, A2307; the first day of the 6 contract month for the first day of the futures options of Huangdou 2 is B2211, B2212, B2301, B2302, and B2302, respectively. B2303, B2304, B2305, B2306, B2307; Soy oil futures options listed 6 contracts on the first day of 6 contracts, namely Y2211, Y2212, Y2301, Y2305, Y2305, Y2307.

Yang Baolong believes that after nearly thirty years of development, Dashang has now become the world's most important soybean futures market. State -owned, private and foreign -funded enterprises such as various markets such as soybean series of futures hedging price risks and stabilized operations have achieved good results. In the context of the increasing uncertainty of the external environment and the increased spot price fluctuations, the listing of the soybean series of options will jointly build a complete risk management tool system with the futures industry to help the soybean industry enterprise improve the management risk level, stabilize production and operation and operation to stabilize production and operation Essence

Chen Gang, vice chairman of the Chinese Botanical Oil Industry Association, said that my country is the world's largest soybean oil producer and consumer country. Since the launch of soybean meal options in 2017, after 5 years of careful cultivation, the functions of the market's options have been effectively exerted, and the futures market is effectively linking with the futures market. It provides a richer risk management method for the market.

Yan Shaoming, deputy secretary of the party committee and general manager of the Da Shang Institute, said that the listing of the three bean system options is an important achievement of the major business of the Dashang institute based on its own advantages, making breakthroughs in product innovation, promoting development with a new chapter with a real work, and a new chapter. Together with the soybean series of futures and options products that have been launched, they will help cultivate Chinese soybeans "golden seeds", build food safety "cockpit stones", and enhance my country's discourse and pricing influence in the international grain market.

Bean options can improve the price efficiency of the bean derivative market

As an important grain variety in my country, soybeans are important basic strategic materials related to national economy and people's livelihood. Its extended industrial chain and value chain have great development potential. In the field of agricultural products, play a pivotal role.

This year, the state proposed to ensure that the planting area of ​​soybeans across the country reached more than 14.6 million mu, and the planting area of ​​oil crops such as rapeseed, sunflowers, and peanuts increased steadily. Over the years, my country has become the world's largest non -genetic soybean producer, the largest soybean importer and the largest soybean consumer country. The total amount of soybean imports and consumption continues to grow. In 2021, the total domestic soybeans in my country were 16.4 million tons, and the imports and consumption of soybeans had exceeded 100 million tons. Imports account for 60%of global trade, and consumption accounts for 30%of the total global consumption.

Although the Dazhang Institute has been listed in related futures, the needs of industrial chain companies in options are still very urgent.

In an interview with the Dahe News Daily · Dahecai Cube, Nanhua Futures Opinistic analyst said that the risk of using futures hedging may face the problem of occupying too much margin and being chased. It is not conducive to the risk of changes in the direction of the enterprise, but it also avoids the income of the price of the price that is conducive to the direction of the enterprise. Enterprises using options can make up for the shortcomings of futures sets.

"Enterprises can reduce capital occupation by buying duration rights, and at the same time do not face the risk of pursuing insurance. Buying options can be used to hedge risk and retain potential benefits. Enrich the current derivative risk management system. "Zhou Xiaoshu said that in addition, investors can only get the income of rising or decline in futures when trading soybean futures. Options are multi -dimensional financial instruments. Investors can obtain not only the benefits of the target futures price when trading options, and at the same time, they can also obtain volatility benefits and time returns.

Generally speaking, Zhou Xiaoshu said that the listing of soybean options can better meet the refined risk management needs of industrial enterprises on the one hand, help enterprises to avoid the price risk of soybean, and reduce the cost pressure of corporate funds. Industrial enterprises can buy options for options., Single price risk while retaining potential returns.Industrial enterprises can also achieve the need to achieve a more refined set of insurance by establishing a price difference or neckline strategy.On the other hand, the procurement cost of downstream companies and the inventory cost of upstream enterprises can be reduced.Downstream enterprises can sell options through selling, lock the minimum procurement price, and obtain the income of optional rights, thereby reducing the procurement cost.Upstream enterprises can use selling options, lock the highest sales price, and obtain optional rights' income, thereby reducing inventory costs.Responsible editor: Tao Jiyan | Review: Li Zhen | Director: Wan Junwei

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