Market News & Headlines >> CME Considers Soymeal Contract Change
Chicago Board of Trade operator CME Group Inc. said on Monday that it was delisting all three of its 2019 soymeal futures contracts while it conducts consumer outreach that might result in changes in the contract specifications.
The exchange in a release said it was delisting the July, October and December 2019 contracts, adding that the contracts eventually will be relisted when it has completed is consumer outreach. None of the three contracts had any open interest.
CME Group has been mulling reducing the protein content specification for CBOT soymeal futures to more accurately reflect product available in cash markets. Currently, CBOT soymeal futures delivery standards specify 48% protein contrend with a minimum fat content of 0.5% a maximum fiber content of 3.5% and a maximum moisture content (when shipped by processor) of 12.0%. Deliverable quality soymeal may also contain 0.5% of a non-nutritive, inert, non-toxic conditioning agent to reduce caking and improve flowability.