Soybean meal has become a staple in livestock and poultry diets. It is largely used in fodder for livestock and even fish. It is usually made from grinding high-quality residues from soybean oil production into a yellowish-green flour. Soybean meal has become the world’s choice for protein supplement due to its high protein levels, amino acid balance, and overall nutrient content.
|Soybean Meal Futures Contract Specifications|
|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|
|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): Sun-Fri 7:00pm-7:45am CT
Mon-Fri 8:30am-1:15pm CT
|Open Outcry (Trading Floor): Mon-Fri 8:30am-1:15pm 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||Physical Delivery|
|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 Symbol||CME Globex (Electronic): ZM (06=Clearing)
Open Outcry (Trading Floor): SM
|Exchange Rules||These contracts are listed with, and subject to, the rules and regulations of CBOT.|
|Source: CME Group|
Last updated May 2013
Soybean Meal News Articles
- Soybean supplies slip to near 50-year lows (2/7/2013) - Supplies of soybeans are at their tightest levels in nearly 50 years as a result of inclement weather and growing demand, according to Bloomberg. Parched weather and delays for exports from South American growing nations is enhancing demand for the legume from the U.S., which is the globe’s biggest grower and exporter. Reserves of the legume... Read More.
- Soybean stocks pulled down (12/11/2012) - Soybean stocks were reduced by the U.S. Agriculture Department amid a more than anticipated crush answering rising production of soyoil and soymeal, according to The Wall Street Journal. But the federal department boosted forecasts for wheat stocks due to reduced exports, which pulled down wheat futures on Tuesday. Soybeans, which also were edging down in... Read More.
Soybean Meal Blog Posts
- The Bullish Spiral of the Soy Complex (6/20/2013) - There is not enough soymeal in the United States to meet demand. To help meet demand, crushers were planning on turning beans into meal using cheaper South American imports, as there is a lot of product available and the crush margins would be well in the green to support their efforts. But, because of the Brazilian port situation, the beans are not coming as quickly as the crushers wanted. The cheap product they could turn into expensive meal is apparently not in the cards.
- Market Spotlight: Soybean Oil (3/14/2013) - Soybean Oil is the natural oil extracted from whole Soybeans. Typically, about 19% of a Soybean’s weight can be extracted as crude Soybean Oil. The oil content of U.S. Soybeans correlates directly with the temperatures and amount of sunshine during the Soybean pod-filling stages.
- Beyond the “Spotlight” (1/28/2013) - The Trade Spotlight advisory service applies the GBE trading methodology (buying or selling commodity contracts based on breakouts of chart formations and technical indicators) to identify one to two trade setups per week.
- Market Spotlight: Soybean Meal (10/16/2012) - Soybean Meal is produced through processing and separating Soybeans into oil and meal components. By weight, Soybean Meal accounts for about 35% of the weight of raw Soybeans (at 13% moisture). If the Soybeans are of particularly good quality, then the processor can get more meal weight by including more hulls in the meal while still meeting the 48% protein minimum.
- WASDE Special Report (8/9/2012) - This is a sample entry from Craig Turner’s weekly market analysis newsletter, Turner’s Take, published on August 09, 2012. The USDA will release the August WASDE tomorrow at 7:30 AM CDT. We are expecting cuts in yield and production for Corn and Soybeans. We are also expecting draws on the global wheat supply. While many... Read More.
- Inside the Grain and Oilseed Markets: A Six Part Series (9/30/2011) - Part Three: The Big 3 When trading the corn, soybean, or wheat market, it is important to know the fundamental factors that determine their prices. Knowing how much is planted, when it is planted, how much is produced, the many uses of each market, and who buys the specific market are factors that have a... Read More.
- Inside the Grain and Oilseed Markets: A Six Part Series (7/15/2011) - Part One: The Markets that Spawned an Industry It is always important to have a good understanding of any market’s unique specifications and its fundamentals before deciding to trade the specific market. However, what is also important, and often gets overlooked, is the specific market’s origin. One key benefit to this information is the added... Read More.