[13M] CME CBOT: ZM Soybean Meal Futures CFD
Soybean Meal Futures (CME CBOT: ZM) :
Soybean meal is produced from the residue left after oil extraction. Soybean meal is used in food and animal feeds as a protein supplement, and also used as a source of metabolizable energy. CBOT = Chicago Board of Trade.
Product Code: CME Globex: ZM.
Contract Unit: 100 Short Tons (~ 91 metric tons).
Price Quotation: Dollars and Cents per short ton.
Minimum Price Fluctuation: 10 cents per short ton ($10.00 per contract).
Settlement Method: Deliverable.
Listed Contracts: January (F), March (H), May (K), July (N), August (Q), September (U), October (V) & December (Z).
Termination Of Trading: 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.
Grade And Quality: As of January 2019, 47.5% Protein Soybean Meal, meeting the requirements listed in the CBOT Rules and Regulations.
Trading Hours :
Chicago
(1) 19:00 ~ 07:45 (Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT)
(2) 08:30 ~ 13:20 (Monday – Friday, 8:30 a.m. – 1:20 p.m. CT)
Singapore
(1) 09:00 ~ 21:45
(2) 22:30 ~ 03:20
Wheat prices seasonal pattern
Post-Harvest Rise (Fall/Winter): As the harvest concludes, prices often recover due to storage costs, financing, and tighter supply.
Harvest Lows (Summer May–August): As wheat is harvested, the influx of supply tends to push prices down.
Corn prices seasonal pattern
Planting/Spring Rally (April - June): Uncertainty about acres planted and spring weather often creates a "weather market" that lifts prices.
Harvest Lows (August - October): As supply becomes abundant, prices typically hit their lowest points of the year.
Soybean prices seasonal pattern
Peak Period: Highs are most common in May, June, and July, when weather risks are highest for the US crop.
Harvest Pressure: Prices frequently bottom out in October, November, or early winter as the largest supply enters the market. Prices can sometimes strengthen after harvest, particularly if South American weather causes supply concerns. South American harvest (roughly March-May, South American Impact)
Soybean Oil prices seasonal pattern
Winter/Spring Rally (Dec–May): Prices often increase through winter into May as storage costs are needed to encourage supply and as marketing years progress.
Harvest Low (Oct/Nov): Soybean prices tend to be lowest in October, when new-crop soybeans become available, bringing down soybean oil prices as supply increases.