CME Group Soybeans

CME Group soybean futures and options trade both by open outcry and by electronic trading. During what are called "regular trading hours" (RTH), soybean futures trade side by side on Globex and on the trading floor, while options trade only on the trading floor. During electronic trading hours (ETH), both soybean futures and options are traded.
Soybean futures and options migrated from the eCBOT trading platform to CME Globex on the evening of January 13, 2008. 
== Commitment of Traders ==
 
The Commodity Futures Trading Commission regularly issues Commitments of Traders reports that show the distribution of open positions among different classes of traders. Information about soybean positions is available in this report.
== Delayed Quotes ==
Delayed quotes are available for CME Group soybeans for open auction trading and electronic trading on the CBOT website.
== Contract Specifications ==
Soybean Futures 	Soybean Futures 	Soybean Futures
Contract Unit 	5,000 bushels (~136 metric tons) 	5,000 bushels (~136 metric tons)
Price Quotation 	U.S. cents per bushel 	U.S. 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
TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and
Monday - Friday 8:30 a.m. - 1:15 p.m. CT
Trading Hours 	CME ClearPort: 	Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Minimum Price Fluctuation 	1/4 of one cent (0.0025) per bushel = $12.50
TAS: Zero or +/- 4 ticks in the minimum tick increment of the outright 	1/4 of one cent (0.0025) per bushel = $12.50
TAS: Zero or +/- 4 ticks in the minimum tick increment of the outright
Product Code 	CME Globex: ZS
CME ClearPort: S
Clearing: S
TAS: SBT 	CME Globex: ZS
CME ClearPort: S
Clearing: S
TAS: SBT
Listed Contracts 	15 monthly contracts of Jan, Mar, May, Aug, Sep and 8 monthly contracts of Jul and Nov listed annually after the termination of trading in the November contract of the current year.	15 monthly contracts of Jan, Mar, May, Aug, Sep and 8 monthly contracts of Jul and Nov listed annually after the termination of trading in the November contract of the current year.
Settlement Method 	Deliverable 	Deliverable
Termination of Trading 	Trading terminates on the business day prior to the 15th day of the contract month. 	Trading terminates on the business day prior to the 15th day of the contract month.
Trade at Marker or Trade at Settlement Rules	Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a ""Base Price"" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.
TAS Table	Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a ""Base Price"" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.
TAS Table
Settlement Procedures 	Soybean Settlement Procedures 	Soybean Settlement Procedures
Position Limits 	CBOT Position Limits 	CBOT Position Limits
Exchange Rulebook 	CBOT 11 	CBOT 11
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Last Delivery Date 	Second business day following the last trading day of the delivery month. 	Second business day following the last trading day of the delivery month.
Grade and Quaity 	#2 Yellow at contract price, #1 Yellow at a 6 cent/bushel premium, #3 Yellow at a 6 cent/bushel discount 	#2 Yellow at contract price, #1 Yellow at a 6 cent/bushel premium, #3 Yellow at a 6 cent/bushel discount
Soybean Options 	Soybean Options 	Soybean Options
Contract Unit 	One futures contract for 5,000 bushels 	One futures contract for 5,000 bushels
Minimum Price Fluctuation 	1/8 of one cent (0.00125) per bushel = $6.25 	1/8 of one cent (0.00125) per bushel = $6.25
Price Quotation 	U.S. cents per bushel 	U.S. 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 	CME ClearPort: 	Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Product Code 	CME Globex: OZS
CME ClearPort: S
Open Outcry: Put: PZ Call: CZ
Clearing: S 	CME Globex: OZS
CME ClearPort: S
Open Outcry: Put: PZ Call: CZ
Clearing: S
Listed Contracts 	Monthly contracts listed for 3 consecutive months, 9 monthly contracts of Jan, Mar, May, Jul, Aug, Sep, Nov and an additional Nov contract month listed in August. 	Monthly contracts listed for 3 consecutive months, 9 monthly contracts of Jan, Mar, May, Jul, Aug, Sep, Nov and an additional Nov contract month listed in August.
Termination of Trading 	Trading terminates on Friday which precedes, by at least 2 business days, the last business day of the month prior to the contract month. 	Trading terminates on Friday which precedes, by at least 2 business days, the last business day of the month prior to the contract month.
Position Limits 	CBOT Position Limits 	CBOT Position Limits
Exchange Rulebook 	CBOT 11A 	CBOT 11A
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Trading shall be conducted for put and call options with striking prices in integral multiples of ten (10) cents and twenty (20) cents per bushel. More details on strike price intervals are outlined in Rule 11A01.E. 	Trading shall be conducted for put and call options with striking prices in integral multiples of ten (10) cents and twenty (20) cents per bushel. More details on strike price intervals are outlined in Rule 11A01.E.
Exercise Style 	The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 5:30 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.	The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 5:30 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.
Settlement Method 	Deliverable 	Deliverable
Underlying 	Soybean Futures 	Soybean Futures
== Notes ==
(*) No. 3 Yellow Soybeans are only deliverable when all factors equal U.S. No. 2 or better except foreign material.
== Also See ==
CME Group commodity products
== Resources ==
CME Group Contract Specs
CME Group Web site
CBOT Position Linits
CBOT 11A
Block Minimum Thresholds
Price Limits
Quote Vendor Symbols Listing
== References ==
Category:Sponsored Pages
Category:Sponsored Pages - CME
Category:Soybeans Futures Contracts
Category:Futures Contracts Traded on CME Group
Category:Agricultural Futures Contracts
Category:Soybean options
Category:Options Traded on CME Group
Category:Agricultural Options
Category:Futures Data in Template
Category:Agricultural Options
Category:CME Group