CME Group Soybean Crush

Synthetic Soybean Crush Futures	Synthetic Soybean Crush Futures
Contract Unit 	50,000 bushels (~1361 metric tons)
Price Quotation 	Cents per bushel
Trading Hours 	Sunday - Friday, 7:00 p.m. - 7:45 a.m. CT and
Monday - Friday, 8:30 a.m. - 1:15 p.m. CT
Minimum Price Fluctuation 	1/4 of one cent per bushel ($125.00 per contract)
Product Code 	CME Globex: SOM
Open Outcry: SOM
Clearing: SOM
Listed Contracts 	January (F), March (H), May (K), July (N), August (Q), September (U), October (V), & December (Z)
Settlement Method 	Deliverable
Termiantion of Trading 	Business day prior to the 15th calendar day for the earliest expiration of Soybeans or Soybean Meal and Soybean Oil Futures for the contract month. 12:01 PM Chicago Time
Settlement Procedures 	Soybean Crush Settlement Procedures
Position Limits 	CBOT Position Limits
Price Limit or Circuit 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing
Synthetic Soybean Crush Options	Synthetic Soybean Crush Options 	Synthetic Soybean Crush Options 	
Contract Unit 	50,000 bushels 	50,000 bushels 	
Minimum Price Fluctuation 	1/8 of one cent per bushel = $62.50 per contract 	1/8 of one cent per bushel = $62.50 per contract 	
Price Quotation 	U.S. dollar and cents per bushel 	U.S. dollar and cents per bushel 	
Trading Hours 	CME Globex: 	Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday, 8:30 a.m. – 1:20 p.m. CT 	
Trading Hours 	Open Outcry: 	Monday – Friday, 8:30 a.m. – 1:15 p.m.
CT with Post session until 1:20 p.m. CT immediately following the close 	
Trading Hours 	Product Code 	CME Globex: BCE
CME ClearPort: 31
Open Outcry: Put: BP Call: BC
Clearing: 31 	CME Globex: BCE
CME ClearPort: 31
Open Outcry: Put: BP Call: BC
Clearing: 31
Listed Contracts 	10 standard delivery months with the following Soybean Crush combinations (note: the Oct. and Dec. Crush combinations use different months for the Soybeans than for the Soybean Meal and Soybean Oil):
Crush: Jan. Mar. May July Aug. Sept. Oct. Dec.
Soybeans: Jan. Mar. May July Aug. Sept. Nov. Nov.
Meal/Oil: Jan. Mar. May July Aug. Sept. Oct. Dec.	10 standard delivery months with the following Soybean Crush combinations (note: the Oct. and Dec. Crush combinations use different months for the Soybeans than for the Soybean Meal and Soybean Oil):
Crush: Jan. Mar. May July Aug. Sept. Oct. Dec.
Soybeans: Jan. Mar. May July Aug. Sept. Nov. Nov.
Meal/Oil: Jan. Mar. May July Aug. Sept. Oct. Dec.	
Settlement Procedures 	Option on physical delivery futures contract 	Option on physical delivery futures contract 	
Termination of Trading 	Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract.	Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract.	
Position Limits 	CBOT Position Limits 	CBOT Position Limits 	
Exchange Rulebook 	CBOT 11C 	CBOT 11C 	
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds 	
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing 	
Strike Price Listing Procedures	2 cents per bushel (e.g. $0.48, $0.50, $0.52) 	2 cents per bushel (e.g. $0.48, $0.50, $0.52) 	
Exercise Style 	All in-the-money options shall be automatically exercised, unless notice to cancel automatic exercise is given to the Clearing Services Provider, based on the settlement prices of the underlying components of the Soybean Crush.
Call (Put) Exercise:
Long (Short) 11 Soybean Meal futures at the settlement price rounded to the nearest $2.50 per ton.
Long (Short) 9 Soybean Oil futures at the settlement prices rounded to the nearest $0.0025 per pound.
Short (Long) 10 Soybean futures at a price equal to Soybean Meal in $/ton x 0.022 + Soybean Oil in ¢/lb x 11 – Soybean	All in-the-money options shall be automatically exercised, unless notice to cancel automatic exercise is given to the Clearing Services Provider, based on the settlement prices of the underlying components of the Soybean Crush.
Call (Put) Exercise:
Long (Short) 11 Soybean Meal futures at the settlement price rounded to the nearest $2.50 per ton.
Long (Short) 9 Soybean Oil futures at the settlement prices rounded to the nearest $0.0025 per pound.
Short (Long) 10 Soybean futures at a price equal to Soybean Meal in $/ton x 0.022 + Soybean Oil in ¢/lb x 11 – Soybean	
Settlement Method 	Deliverable 	Deliverable 	
Underlying 	Soybean Crush Synthetic Futures 	Soybean Crush Synthetic Futures 	
== Notes ==
*CME Group Synthetic Soybean Crush Futures Contract Specifications
*CME Group Soybean Crush Options Contract Specifications
Insert formula here
== Resources ==
*Soybean Crush Settlement Procedures
*CBOT Position Limits
*Block Minimum Thresholds
*Quote Vendor Symbols Listing
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