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Soybeans Futures (ZS) Contract Specifications

What you're trading

The CBOT Soybean future (ZS) gives you exposure to 5,000 bushels of No. 2 Yellow Soybeans with physical delivery. Soybeans are processed into soybean meal (livestock feed) and soybean oil (cooking oil and biodiesel) — the soybean "crush" — and the U.S. and Brazil are the dominant global producers. ZS is especially sensitive to Chinese import demand (China is the world's largest soybean buyer), U.S.–China trade policy, and South American weather during the Northern Hemisphere winter when Brazil is planting and harvesting.

Contract size

5,000 bushels of soybeans. 

Tick value

Minimum price fluctuation is ¼ cent per bushel ($0.0025), and each tick is worth $12.50 per contract. A 1-cent move equals $50, and a 10-cent move equals $500 per contract.

Trading hours

CME Globex: Sunday 7:00 p.m. CT through Friday 7:45 a.m. CT the next morning, with a day session Monday–Friday 8:30 a.m. – 1:20 p.m. CT.

Settlement type

Physically delivered. Contract months are January, March, May, July, August, September, and November (F, H, K, N, Q, U, X). Trading terminates on the business day prior to the 15th calendar day of the contract month. Close or roll positions before First Notice Day to avoid delivery.

Margin snapshot

Soybean margin reflects both domestic U.S. supply and South American crop risk. Expect shifts around WASDE releases, Chinese trade news, and Brazilian/Argentine weather events.

Initial margin (overnight)

~$2,000–$3,500 per contract (approximate; varies with volatility)

Maintenance margin

~$1,820–$3,180 per contract

Day-trade margin

Broker-set; often a fraction of overnight margin

Notional value (reference)

~$52,500 at $10.50/bushel

Margins change with market volatility and vary by broker. The figures above are approximate and for reference only — always confirm current requirements with MetroTrade support or on the CME margin page before trading.

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