Exporting to Squeeze But Whites are Blown Out

Hi I'm working on a Mac Pro and trying to send a file to Squeeze 11 desktop to encode for a Blu-ray disc. The problem is, the whites and blacks are being changed. Meaning the whites are blown out and the blacks are way to dark. I thought it was a Squeeze issue but then I exported a Quicktime file from Media Composer 8.6.3 to my desktop and the same thing happen. The whites are blown out and blacks are to dark. I am editing in YCbCr 709 and selcting (Keep as Legal Range) in color levels box. The file looks fine in Media Composer while editing. Any info would help.

Thanks