Trading soybean futures markets is unique. There are a large number of different products offered. Choosing which contract or contracts suit you is a matter of preference. It will be beneficial when trading soybean markets to understand these basics, regardless of the strategies and contracts you employ.
| Soybeans | |
| Symbol (OO, Elect.) | S, ZS |
| Contract Size | 5,000 bushels |
| Open Outcry Hours | 9:30 AM to 1:15 PM Mon.- Fri. |
| Electronic Hours | 9:30 AM to 1:15 PM and 6:00 PM to 6:00 AM Sun.- Fri. |
| Minimum Tick | $.0025 /bushel ($12.50 /contract) |
| Contract Months | F, H, K, N, Q, U |
| Daily Limit | 70 cents |
| Margin |
$4,725 |
| Mini Soybean | |
| Symbol (OO, Elect.) | YK, XK |
| Contract Size | 1,000 bushels |
| Open Outcry Hours | 9:30 AM to 1:45 PM Mon.- Fri. |
| Electronic Hours | 9:30 AM to 1:45 PM and 6:00 PM to 6:00 AM Sun.- Fri. |
| Minimum Tick | $.00125 /bushel ($1.25 /contract) |
| Contract Months | F, H, K, N, Q, U, X, Z |
| Daily Limit | 70 CENTS |
| Margin |
$945 |
These two contracts are the futures contracts based specifically on the soybean crop. The standard full sized contract is the most traded soybean future product. Mini futures are a good tool to consider if you are beginning to trading soybean markets. The smaller contract size has a smaller margin requirement which allows you to start your career trading soybean futures with less capital and that is not to say that it’s less risky to loose money. It also means market movements may have a smaller reward effect on your portfolio.
| Soybean Meal | |
| Symbol (OO, Elect.) | SM, ZM |
| Contract Size | 100 tons |
| Open Outcry Hours | 9:30 AM to 1:15 PM Mon.- Fri. |
| Electronic Hours | 9:30 AM to 1:15 PM and 6:00 PM to 6:00 AM Sun.- Fri. |
| Minimum Tick | $.10 /ton ($10.00 /contract) |
| Contract Months | F, H, K, N, Q, U, V |
| Daily Limit | $20.00 /ton |
| Margin | $2,700 |
| Soybean Oil | |
| Symbol (OO, Elect.) | BO, ZL |
| Contract Size | 60,000 lbs |
| Open Outcry Hours | 9:30 AM to 1:15 PM Mon.- Fri. |
| Electronic Hours | 9:30 AM to 1:15 PM and 6:00 PM to 6:00 AM Sun.- Fri. |
| Minimum Tick | $.0001 /lb ($6 /contract) |
| Contract Months | F, H, K, N, Q, U, V, Z |
| Daily Limit | 2.5 cents |
| Margin | $2,025 |
| Soybean Crush | |
| Symbol (call, put) | BC, BP |
| Contract Size | (soybean meal in $/ton x .022) + (soybean oil in cents/pound x 11) – (soybeans in $/bushel) |
| Open Outcry Hours | 9:30 AM to 1:15 PM Mon.- Fri. |
| Electronic Hours | NA |
| Minimum Tick | $.00125 /bushel ($62.50 /contract) |
| Contract Months | F, H, K, N, Q, U, V, X, Z |
| Daily Limit | 50 cents |
The soybean complexes, soybean meal, oil and crush, are widely used products; therefore futures contracts were created to assist commercial interests. The crush contract is a little different. It’s a contract based on an option spread of meal, oil, and beans. There isn’t an underlying futures contract called “soybean crush.”
| S. American Soybeans | |
| Symbol (OO, Elect.) | BS, ZK |
| Contract Size | 5,000 bushels |
| Open Outcry Hours | 9:00 AM to 1:15 PM Mon.- Fri. |
| Electronic Hours | 9:00 AM to 1:15 PM and 6:31 PM to 6:00 AM Sun.- Fri. |
| Minimum Tick | $.0025 /bushel ($12.50 /contract) |
| Contract Months | F, H, K, N,Q, U,X |
| Daily Limit | 50 cents |
| Margin |
$2,025 |
South American soybeans traded on the Chicago Board of Trade (CBOT) and are based on Brazilian soybean standards. Brazil is a global leader in the production and exports of soybeans. This contract helps standardize delivery methods.
The soybean futures market is a fine example of growth in the futures industry. The different contract specifications make trading soybean markets versatile. Pick the contracts that best suit your financial means, risk tolerance levels, and trading goals.
(CBOT: Education: Contract Specifications)
Trading in futures and options involves a substantial degree of a risk of loss and is not suitable for all investors. Past performance is not indicative of future results.
