Soybean Meal

Soybean meal is the solid feed ingredient left after soybean oil extraction. It is not interchangeable with whole soybeans, soybean oil, soy flour or every other protein meal; a comparable lot needs processing method, protein and moisture basis, quality limits, origin, quantity and delivery terms.

Editorial evidence reviewedReviewed 2026-09-03Release 2026-09-19-batch-230
Global production
260M MT
2024/25
Market value
$115B
Producing countries tracked
27
Grading systems
4
Active supply risks
11
Trade corridors
9
Latest reviewed evidence

This release uses the current CME soybean-meal contract framework and official USDA oilseed and feed terminology. Contract quantities are reference definitions, not a live cash quote or a delivered physical price.

CBOT soybean meal contract size
100
short tons · current CME specification
Approximate contract mass
91
metric tons · 100-short-ton contract basis
Regular contract months
8
January, March, May, July, August, September, October, December · current CME specification

Meal, beans and oil are separate products

Crushing soybeans produces oil and a solid meal co-product. Whole beans, meal, oil, hulls, flour and specialty processed proteins have different compositions, uses, HS classifications and market references. Atlas keeps the product form attached to each record instead of carrying a soybean fact across the entire complex.

Protein percentage needs a measurement basis

A soybean-meal specification should identify crude protein, moisture and fibre limits together with the as-fed, dry-matter or other stated basis and test method. Processing method, residual oil, heat treatment, urease activity, protein solubility, mycotoxins, pathogens and GMO or identity-preserved status may also be contract-critical.

Benchmark and physical delivery remain distinct

CME defines a 100-short-ton soybean meal reference contract quoted in dollars and cents per short ton. A physical offer still needs product and protein specification, origin, quantity, currency, Incoterm, load point or destination, delivery window, inspection evidence, basis and logistics before a delivered value can be compared.

Questions procurement teams ask

Are soybeans and soybean meal the same trade product?

No. Soybeans are the oilseed input; meal is a solid feed co-product of oil extraction, with its own composition, specifications, uses and price reference.

How large is one CME soybean meal contract?

CME specifies 100 short tons, approximately 91 metric tons.

Is the CME soybean meal value a delivered physical price?

No. It is a reference-market contract quoted per short ton. A delivered physical value additionally needs specification, origin, basis, Incoterm, destination, logistics, delivery timing and evidence vintage.

Which fields make soybean meal offers comparable?

Processing method, protein and moisture basis, fibre and residual-oil limits, heat-treatment and safety evidence where required, GMO or identity-preserved status, origin, quantity, currency, Incoterm, destination, delivery window and evidence date.

Sources and provenance

Figures retain their source, period and review date. Corroboration is not promoted to primary evidence.

Soybean Meal Futures — contract specifications
CME Group · Primary exchange source · accessed 2026-09-03
Oilseeds — data and market reporting
USDA Foreign Agricultural Service · Primary government data and analysis index · accessed 2026-09-03
Livestock, Poultry and Grain Feedstuffs Terms
USDA Agricultural Marketing Service · Primary government terminology source · accessed 2026-09-03
Grading systems
View →
National and regional grading frameworks defining tradeable quality.
Producers
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Country-level production, share of global output, exporter/importer status.
Supply risks
View →
Active and seasonal supply-side risks — weather, disease, geopolitical, regulatory.
Documentation
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Required export and import documents per origin-destination corridor.