Commodity trading is not suitable for everyone. The risk of loss in trading can be substantial. This material has been prepared by a sales or trading employee or agent of Van Commodities, Inc. and is, or is in the nature of, a solicitation. This material is not a research report prepared by Van Commodities, Inc. Research Department. Please view our Risk Disclaimer.

Soybean Meal Futures Specifications

The soybean meal contract specifications tell you how the soybean meal futures trade, not how to trade the soybean meal futures. Before you consider opening a commodity futures account you should consult with a licensed commodities broker.


Contract Size

100 tons (2,000 lbs/short ton)


Deliverable Grades

48% Protein Soybean Meal, meeting the requirements listed in the CBOT Rules and Regulations


Tick Size

10 cents/ton ($10/contract)


Price Quote

Dollars and cents/short ton


Contract Months

Oct, Dec, Jan, Mar, May, Jul, Aug, Sep


Last Trading Day

The business day prior to the 15th calendar day of the contract month.


Last Delivery Day

Second business day following the last trading day of the delivery month.


Trading Hours

Electronic: 6:00 p.m. - 6:00 a.m. and 9:30 a.m. - 1:15 p.m. Central Time, Sun.-Fri.Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri.Trading in expiring contracts closes at noon on the last trading day.


Ticker Symbols

Open Auction:  SM Electronic:  ZM


Daily Price Limit

$20/short ton ($2,000/contract) above or below the previous day's settlement price. No limit in the spot month (limits are lifted beginning on First Position Day).


Margin Information

Find information on margins requirements for the Soybean Meal Futures.


An Introduction to Trading CBOT Agricultural Futures and Options

Click on the link above to download a printable .pdf booklet entitled “An Introduction to Trading CBOT Agricultural Futures and Options”. It is published by the Chicago Board of Trade. It is a must read guide for any novice or advanced trader considering an investment in the soybean meal futures.

Click here to contact a licensed commodities broker with experience in the soybean meal market.


Commodity trading is not suitable for everyone. The risk of loss in trading can be substantial. When trading futures and/or options, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Carefully consider the inherent risks of such an investment in light of your financial condition. Past results are not necessarily indicative of future results. Please do your own research before investing in the futures market. This site contains no investment recommendations. The information and opinions contained herein comes from sources believed to be reliable, but are not guaranteed as to accuracy or completeness.