Soybean Meal

Soybean Meal Meaning:
In commodity market terminology, Soybean Meal refers to a product of soybeans obtained by grinding the flakes left over from the removal of the oil contained in soybeans with a solvent. Soybean Meal is a high-quality filler food containing roughly 50% protein that is used primarily for feeding livestock. Soybeans are an oilseed legume originally from East Asia that has been used for centuries as a protein source both for humans and animals.

Soybean Meal futures are traded at the Chicago Board of Trade and on the CME Groupís Globex electronic trading platform. Futures contracts are for 100 short tons or 91 metric tons and are quoted in U.S. Dollars with a minimum fluctuation of 10 cents per bushel or $10.00 per contract. Soybean Meal trades under the symbol SM for regular trading and ZM for electronic trading.