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Contract specifications
- Contract symbol
- ZMU8
- Product
- Soybean Meal (ZM)
- Exchange
- CBOT
- Delivery month
- September 2028 (code U)
- Last trading day
- September 14, 2028
- Default rolls on
- September 10, 2028 (4 days before)
- Tick size
- 0.1
- Tick value
- $10.00
- Point value
- $100.00
- Next delivery
- ZMV8 (October 13, 2028)
When ZMU8 stops trading
Trading terminates on the business day preceding the 15th calendar day of the contract month. For ZMU8 that falls on September 14, 2028.
Senzoukria stops offering ZMU8 as the default contract on September 10, 2028, 4 calendar days before that last trading day, and keeps it selectable with a badge. The date is computed from the exchange rule rather than stored. The engine counts Monday to Friday and holds no CME holiday table, so a date that falls next to a public holiday can be one day off the exchange calendar. Check the exchange calendar when the date sits close to a holiday.
When the volume actually leaves
Grain contracts follow the crop calendar rather than the quarter, so the listed months are uneven and the roll dates do not fall at regular intervals. The active month is the one carrying the volume, not the nearest by date.
For ZMU8 the next listed delivery is ZMV8, whose last trading day is October 13, 2028. That is the contract the volume moves into, just as it moved out of ZMQ8 on August 10, 2028.
What one tick is worth on ZMU8
The minimum price fluctuation is 0.1, which is $10.00 per contract on a multiplier of 100. A full point is therefore $100.00. On a footprint chart one row is one tick, so the same vertical space holds a different number of rows depending on the product: a tick of 0.1 sets how finely the bid and ask volume of ZM can be read.
These are the values the app itself trades on, taken from its contract table rather than retyped, so the P&L shown on a ZMU8 position and the rows of its footprint come from the same numbers.
Every ZM delivery listed in 2028
ZM lists 8 delivery months a year (F, H, K, N, Q, U, V, Z). ZMU8 is number 6 of 8 in 2028.
| Contract | Delivery | Last trading day | Default rolls on |
|---|---|---|---|
| ZMF8 | Jan 2028 | Jan 14, 2028 | Jan 10, 2028 |
| ZMH8 | Mar 2028 | Mar 14, 2028 | Mar 10, 2028 |
| ZMK8 | May 2028 | May 12, 2028 | May 8, 2028 |
| ZMN8 | Jul 2028 | Jul 14, 2028 | Jul 10, 2028 |
| ZMQ8 | Aug 2028 | Aug 14, 2028 | Aug 10, 2028 |
| ZMU8 (this page) | Sep 2028 | Sep 14, 2028 | Sep 10, 2028 |
| ZMV8 | Oct 2028 | Oct 13, 2028 | Oct 9, 2028 |
| ZMZ8 | Dec 2028 | Dec 14, 2028 | Dec 10, 2028 |
Related pages
- ZM — Soybean Meal
- Contract roll
- Futures month codes
- Tick value
- Front month contract
- Roll yield
- Back month contract
- ZMV8
- ZMQ8
- ZM 2028
- ZLU8
In the same section
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Frequently asked questions
- When does ZMU8 expire?
- The last trading day of ZMU8 is September 14, 2028. Trading terminates on the business day preceding the 15th calendar day of the contract month.
- When should I roll out of ZMU8?
- The app switches its default to the next listed month on September 10, 2028, which is ZMV8. In practice the volume moves before the calendar does, so compare the traded volume and open interest of the two months rather than waiting for the last trading day.
- How much is one tick of ZMU8 worth?
- One tick of 0.1 is $10.00 per contract, and a full point is $100.00, on a multiplier of 100.