What Are Soybean Meal Futures?
Soybean meal futurs are traded on the Chicago Board of Trade under the symbol SM (under the symbol ZM for CME Globex trading). Soybean meal futures contracts represent 100 short tons, or approximately 91 metric tons. The deliverable grade requires 48% Protein Soybean Meal, meeting the requirements listed in the CBOT Rules and Regulations.
Contract months for soybean meal futures are January (F), March (H), May (K), July (N), August (Q), September (U), October (V) and December (Z). The last trading day is the business day prior to the 15th calendar day of the contract month.