December 9, 2008

China's November grain futures up 22 percent on-year

China's grain futures trading volume in November totalled 135.19 million lots, up 22 percent from a year ago, but decreased by 11.5 percent from October, according to China Futures Association.

The November trading volume of Dalian Commodity Exchange (DCE), which had listed futures products of soy, soymeal, soy oil and corn, decreased by 14.8 percent on year to 50.65 million lots.

According to regulations of DCE, a lot for the futures contract has 10 tonnes.

The total trading volume of Zhengzhou Commodity Exchange (ZCE) in November grew by 71 percent on year to 50.54 million lots. ZCE focuses on futures products like cotton, rapeseed and wheat.

ZCE's futures contract is fixed at three tonnes per lot, except that for wheat which is 10 tonnes.