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 5 cents per short ton ($5.00 per contract)
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
Termination Of Trading Unexercised Weekly Soybean Meal futures options shall expire at 7:00 p.m. on the last day of trading.
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 The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.
Settlement Method Deliverable
Underlying Soybean Meal Futures