Mini Sized Soybeans
In commodities market terminology, Mini-sized Soybeans refers to futures contracts on soybeans that are one-fifth of the normal contract size. Soybeans are an oilseed legume, originally from East Asia, which has been used for centuries as a protein source both for humans and animals. Soybeans are also used to make oil and meal.
Mini-Sized Soybean futures are traded on the Chicago Board of Trade and electronically on the Chicago Mercantile Exchange’s (CME) Globex electronic trading platform. Mini-sized contracts are similar to full-sized Soybean contracts except for the size which is 1,000 bushels. Quotes are in U.S. Dollars with a minimum fluctuation of 1/8 of one cent per bushel or $1.25 per contract. The symbol for Mini-Sized Soybean futures is YK for regular trading sessions and XK for electronic trading sessions.