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CME Group is lowering the minimum protein specification for soybean meal futures by half a percentage point, to a 47.5% par with delivery down to 47.0%. The exchange also relisted several delisted contract months and added new ones, and is weighing St. Louis as a corn futures delivery point.
The contract change reflects lower protein in domestic soybeans, so deliverable meal may be cheaper relative to the old 48% standard. Buyers should check hedge specifications, though the effect on spot prices is limited.
feedstuffs.comKrissa Welshans 1Nov 23, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
