China revamps No 2 soya contract to boost volumes

China's No 2 soyabean futures contract fell on Monday, the first session after the Dalian Commodity Exchange revamped the contract to try and stimulate trade.
The No 2 contract, launched in December last year, was designed to allow crushers to hedge the genetically modified soybeans that make up much of China's imports.
But complicated delivery procedures had in practice limited the contract to just reflecting domestic bean prices, depressing turnover.