• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer
Daniels Trading

Trade Futures, Spreads and Options with Confidence.

Top Navigation

  • Open a Futures Account
  • Sign Up
  • Log in
  • 1.800.800.3840

Primary Navigation Menu

  • About
    • Who We Are
    • Services
    • Risk Disclosure
    • COVID-19
  • Trade
    • Broker-Assisted
    • Self-Directed / Online
    • Request Pricing
  • Hedge
    • Ag Marketing Plan
    • WASDE Analysis
    • Grain Resources
    • Livestock / Dairy Resources
    • Request Pricing
  • Invest
    • Automated Strategies
    • Managed Futures
    • Request Pricing
  • Advisories
    • GENERAL / FUNDAMENTAL
      • DT Newsletter
      • Insider Market Advisory
      • Turner’s Take Newsletter & Podcast
    • TECHNICAL ANALYSIS
      • The Cullen Outlook
      • Data Feed Trade
      • Jarboe Trading Journal
      • Trade Spotlight
    • AG MARKETING
      • Cattleman’s Advisory
      • Technical Ag Knowledge
      • Turner’s Take Ag Marketing
    • THIRD-PARTY RESOURCES
      • CFRN
      • Moore Research Center, Inc. (MRCI)
      • OptionWorks®
      • TASMarketProfile.com
  • Education
    • CME Group Resource Center
    • CME Group Offers
    • Small Exchange Resources
    • Guides
    • Frequently Asked Questions
    • Order Entry Handbook
  • Blog
    • Futures 101
    • Ag Marketing
    • Tips & Strategies
    • Trading Advisories
  • Resources
    • Trading Software
    • Quotes and Charts
    • Futures Calendars
    • Contract Specifications
    • Margin Requirements
    • Futures Calculator
  • Accounts
    • Apply
    • Access My Account
    • Funding
  • Contact
Home / Education / Markets / Grains & Oilseeds Futures Overview / Soybean Meal Futures

Soybean Meal Futures

Soybean Meal Futures 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)
Price Quotation Dollars and Cents per short ton
Grade And Quality 48% Protein Soybean Meal, meeting the requirements listed in the CBOT Rules and Regulations
Trading Hours Sunday – Friday 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday 8:30 a.m. – 1:20 p.m. CT
Minimum Price Fluctuation 10 cents per short ton ($10.00 per contract)
Product Code CME Globex: ZM
CME ClearPort: 06
Clearing: 06
TAS: ZMT
Listed Contracts January (F), March (H), May (K), July (N), August (Q), September (U), October (V) & December (Z)
Settlement Method Deliverable
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.
Trade At Marker Or Trade At Settlement Rules Trading at settlement is available for First 3 listed futures contracts; nearby new-crop December contract (if not part of the first 3 outrights); first to second month calendar spread; second to third month calendar spread; nearest Jul-Dec spread when available (when July is listed), and are subject to the existing TAS rules. The Last Trade Date for CBOT Grain and Oilseed TAS products will be the First Position Day (FPD) of the front-month contract (FPD is the second to last business day in the month prior to the nearby contract month).

Trading in all CBOT Grain TAS products will be 19:00-07:45 and 08:30-13:15 Chicago time. All resting TAS orders at 07:45 will remain in the book for the 08:30 opening, unless cancelled.

TAS products will trade a total of four ticks above and below the settlement price in ticks of the corresponding futures contract (0.10), off of a “Base Price” of 0 to create a differential (plus or minus 4 ticks) versus settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a “traditional” TAS trade which will clear exactly at the final settlement price of the day.

Settlement Procedures Soybean Meal Futures Settlement Procedures
Exchange Rules These contracts are listed with, and subject to, the rules and regulations of CBOT.
Source: CME Group

Last updated October 2015

Additional Info

Recent Posts on Soybean Meal

  • Beyond the Spotlight: September 27, 2021 (Bean Meal and Sugar) (9/27/2021) - Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself. The week’s video linked below covers… Read more.
  • Beyond the Spotlight: November 30, 2020 (Aussie, Meal, Sugar) (11/30/2020) - Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself. The week’s video linked below… Read more.
  • Beyond the Spotlight: November 23, 2020 (Aussie, Wheat, Meal, Sugar) (11/23/2020) - Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself. The week’s video linked below… Read more.

Primary Sidebar

Tips & Strategies

Federal Reserve Chicago

How the Fed Affects Interest Rates

If the Fed is one of the most influential voices in interest rate pricing, then how can interest rate markets move lower on the actual day that the Fed hiked rates? Futures and options have a time component that requires traders to think steps ahead, and you can see by the price action in S2Y futures leading up to the actual event that this hike had been…

Neutral Trading Strategies for an Inactive Market

What do you do when the dust settles, the smoke clears, and you’re left with middling markets? After quite a volatile May, June has seen the stock market bounce back (albeit slightly) and the US dollar cool off..

Charts

Technical Analysis 101: What Is the Parabolic SAR?

Active traders have a vast array of technical tools and indicators to deploy. One of the most basic and useful is the parabolic SAR (PSAR). In this blog article, we’ll answer the question “What is the parabolic SAR?” and break down its applications in the live market. What Is the Parabolic SAR? Developed by technician… Read more.

More Tips & Strategies

  • OHLC Charts vs. Candlestick Charts: Which Is Better?
  • How to Harness the Power of Moving Average Crossovers
  • Technical Analysis of Stocks: Understand the Pros and Cons
  • Probabilistic Modeling for Trending Markets
  • Will the Russia-Ukraine War Cause a U.S. Recession?
  • What Is the Best Way to Sell Stock Options?
Trustpilot

Footer

Site Navigation

  • Frequently Asked Questions
  • About Us
  • Customer Reviews
  • Contact Us
  • Futures Blog
  • Open a Futures Trading Account
  • Media Resources
  • Fund Your Account
  • Legal Notices

Contact Us

StoneX Financial Inc.
Daniels Trading Division
230 South LaSalle Suite 10-500
Chicago, IL 60604
+1.312.706.7600 Local / Int'l
+1.800.800.3840 Toll-Free
+1.312.706.7605 Fax

Connect with Us

Trustpilot
Risk Disclosure
  • Risk Disclosure
  • Privacy Policy
  • California Residents Privacy Notice
  • Terms of Use
  • Back to top
 

Loading Comments...
 

You must be logged in to post a comment.