Spotlight: How Trade Wars May Affect Ags Markets

Trade War Repercussions for U.S. Agriculture

The rest of the world, from China to Europe to Canada and Mexico, responds to U.S. tariffs with tit-for-tat increases on U.S. exports.

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Soybean Meal Weekly Options Contract Specs

Options
Contract Unit One Soybean Meal futures contract (of a specified month) of 100 short tons
Minimum Price Fluctuation 0.05 per short ton = $5.00
Price Quotation U.S. dollars and cents per short ton
Trading Hours CME Globex: Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday, 8:30 a.m. – 1:20 p.m. CT
Open Outcry: Monday – Friday, 8:30 a.m. – 1:15 p.m.
CT with Post session until 1:20 p.m. CT immediately following the close
Product Code CME Globex: ZM1,ZM2,ZM3,ZM4,ZM5
CME ClearPort: MZ1,MZ2,MZ3,MZ4,MZ5
Open Outcry: MZ1,MZ2,MZ3,MZ4,MZ5
Clearing: MZ1,MZ2,MZ3,MZ4,MZ5
Listed Contracts Weekly contracts listed for 3 consecutive weeks. No weekly contract listed the week of the monthly option expiration.
Termination Of Trading Trading terminates on Friday of the contract week.
Exchange Rulebook CBOT 13A
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures $5 per short ton. More details on strike price intervals are outlined in Rule 13A01.E.
Exercise Style American
Settlement Method Deliverable
Underlying Soybean Meal Futures