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Soybean Meal Futures Contract Specs

Contract Size 100 Short Tons (~ 91 metric tons)
Deliverable Grade 48% Protein Soybean Meal, meeting the requirements listed in the CBOT Rules and Regulations
Pricing Unit Dollars and Cents per short ton
Tick Size (minimum fluctuation) 10 cents per short ton ($10.00 per contract)
Contract Months/Symbols January (F), March (H), May (K), July (N), August (Q), September (U), October (V) & December (Z)
Trading Hours CME Globex (Electronic Platform) Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday, 8:30 a.m. – 1:15 p.m. CT
Open Outcry (Trading Floor) Monday – Friday, 8:30 a.m. – 1:15 p.m. CT
Daily Price Limit $20 per short ton expandable to $30 and then to $45 when the market closes at limit bid or limit offer. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month.
Settlement Procedure Daily Grains Settlement Procedure (PDF)
Final Soybean Meal Settlement Procedure (PDF)
Last Trade Date The business day prior to the 15th calendar day of the contract month.
Last Delivery Date Second business day following the last trading day of the delivery month.
Product Ticker Symbols CME Globex (Electronic Platform) ZM
06=Clearing
Open Outcry (Trading Floor) SM
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.

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