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Soybean Mar '24 (ZSH24)

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Soybean Futures Market News and Commentary

Soybeans Rallying Following Ratings Drop with Help from Products

Soybeans are 3 to 12 ½ cents higher as we make our way through the Tuesday session. Weaker condition ratings and product value support are helping to support midday action.  Soymeal futures are back up $2 to $3.30/ton.  Soy Oil futures are trading with 81 to 82 point gains.

The weekly NASS Crop Progress report indicated 93% of the US soybean crop was planted, 2% ahead of average, with 82% emerged and 3% faster than normal. They reported condition ratings down 2% to 70% gd/ex. The Brugler500 index, taking in all 5 ratings categories, was 3 points lower to 376. Much of the crop deterioration came from IL, down 17 points, with ON 7 points lower and SD down 10. Ratings in IA were up 1 point, with NE 3 points better, OH up 4, and MO improving 7 points.  

Brazilian crusher group Abiove trimmed their projection for Brazil’s soybean crop by 1.4 MMT to 152.5 MMT on Tuesday. That is well above the CONAB projection, but more in line with the USDA.

Jul 24 Soybeans  are at $11.... Read more

Contract Specifications

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Contract
Soybean
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
CBOT
Point Value
$50
Margin/Maintenance
$2,640/2,400
First Notice Date
02/29/24
Expiration Date
03/14/24 (expired)

Seasonal Chart

Soybean Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Jun 11, 2024

View Chart Details
Commercials - Long / Short
466,998 (-12,272)
394,613 (-13,365)
Non-Commercials - Long / Short
132,626 (+4,550)
188,971 (+8,906)
Producers - Long / Short
316,749 (-4,714)
369,740 (-8,872)
Swap Dealers - Long / Short
133,481 (-5,256)
8,105 (-2,191)
Managed Money - Long / Short
73,899 (-2,177)
135,278 (+18,401)
Other Reportables - Long / Short
58,727 (+6,727)
53,693 (-9,495)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1115-0 +5.90%
on 02/29/24
1198-4 -1.48%
on 03/14/24
+10-2 (+0.88%)
since 02/14/24
3-Month
1115-0 +5.90%
on 02/29/24
1340-6 -11.93%
on 12/18/23
-151-2 (-11.36%)
since 12/14/23
52-Week
1115-0 +5.90%
on 02/29/24
1428-2 -17.33%
on 07/24/23
-154-6 (-11.59%)
since 03/14/23

More Soybean Quotes

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Most Recent Stories

More News
Soybeans Rallying Following Ratings Drop with Help from Products

Soybeans are 3 to 12 ½ cents higher as we make our way through the Tuesday session. Weaker condition ratings and product value support are helping to support midday action. Soymeal futures are back up...

ZMZ24 : 345.2s (+0.09%)
ZLZ24 : 44.44s (+1.25%)
ZSN24 : 1174-0s (+1.40%)
ZSPAUS.CM : 11.1979 (+1.56%)
ZSQ24 : 1156-0s (+0.87%)
ZSX24 : 1132-0s (+0.15%)
ZSPX24US.CM : 10.7037 (+0.18%)
Wheat Heading Lower Ahead of Day Off

The wheat complex is pushing lower across all three exchanges at midday. Kansas City contracts are down 3 to 5 cents. Chicago is leading the way this time, with 6 to 8 cent losses. MPLS spring wheat is...

ZWN24 : 582-0s (-1.61%)
ZWU24 : 599-0s (-1.48%)
KEN24 : 600-6s (-0.78%)
KEU24 : 609-6s (-0.93%)
MWN24 : 632-6s (-0.90%)
Corn Getting Turnaround Tuesday Bounce

Corn futures are posting 4 to 7 cent gains across most contracts on Tuesday’s midday. They are being helped by some corrective action on a drop in condition ratings and very few prospects of rain in...

ZCN24 : 450-0s (+1.41%)
ZCPAUS.CM : 4.3447 (+1.64%)
ZCU24 : 455-6s (+1.28%)
ZCZ24 : 467-6s (+1.03%)
ZCPZ24US.CM : 4.3821 (+1.11%)
Declining Crop Conditions Help Support Corn and Soybean Prices Overnight

Corn and soybean futures prices firm overnight following the weekly crop progress report, which showed a bigger decline in conditions than expected.

Wheat Continuing Retreat on Tuesday

The wheat complex is posting mixed trade as we kick off the Tuesday session, with many of the front months heading lower. They continued its steep descent on Monday, with double digit losses across all...

ZWN24 : 582-0s (-1.61%)
ZWU24 : 599-0s (-1.48%)
KEN24 : 600-6s (-0.78%)
KEU24 : 609-6s (-0.93%)
MWN24 : 632-6s (-0.90%)
Soybeans Bouncing Following Ratings Drop

Soybeans are 2 to 3 cents higher as we start the Tuesday session. They leaked lower for much of Monday, with contracts down 13 ¼ to 22 ¼ cents across the board. Soymeal futures were down $5.90 to $8.50/ton...

ZMZ24 : 345.2s (+0.09%)
ZLZ24 : 44.44s (+1.25%)
ZSN24 : 1174-0s (+1.40%)
ZSPAUS.CM : 11.1979 (+1.56%)
ZSQ24 : 1156-0s (+0.87%)
ZSX24 : 1132-0s (+0.15%)
ZSPX24US.CM : 10.7037 (+0.18%)
Corn Getting Some Positive Reaction to Lower Crop Ratings

Corn is trading 1 to 2 cents higher on your Tuesday morning. Futures were down 4 ¼ to7 ½ cents across the board on Monday, continuing the Friday pull back. Weather forecasts over the next week calling...

ZCN24 : 450-0s (+1.41%)
ZCPAUS.CM : 4.3447 (+1.64%)
ZCU24 : 455-6s (+1.28%)
ZCZ24 : 467-6s (+1.03%)
ZCPZ24US.CM : 4.3821 (+1.11%)
Soybeans Closes Near the Lows

Soybeans leaked lower for much of the Monday session, as contracts were down 13 ¼ to 22 ¼ cents across the board. Soymeal futures were down $5.90 to $8.50/ton to pile on the pressure. Soy Oil futures...

ZMZ24 : 345.2s (+0.09%)
ZLZ24 : 44.44s (+1.25%)
ZSN24 : 1174-0s (+1.40%)
ZSPAUS.CM : 11.1979 (+1.56%)
ZSQ24 : 1156-0s (+0.87%)
ZSX24 : 1132-0s (+0.15%)
ZSPX24US.CM : 10.7037 (+0.18%)
Corn Falls into Monday’s Close, USDA Shows Drop in Ratings

Corn futures picked up where they left off on Friday, as contracts were down 4 ¼ to7 ½ cents across the board on Monday. Pressure was from the double-digit losses in wheat and beans. Weather forecast...

ZCN24 : 450-0s (+1.41%)
ZCPAUS.CM : 4.3447 (+1.64%)
ZCU24 : 455-6s (+1.28%)
ZCZ24 : 467-6s (+1.03%)
ZCPZ24US.CM : 4.3821 (+1.11%)
Wheat Collapses to Start the Week

The wheat complex continued its steep descent on Monday, with double digit losses across all three exchanges. Kansas City contracts were leading the bear charge, with contracts down 13 to 22 cents. Chicago...

ZWN24 : 582-0s (-1.61%)
ZWU24 : 599-0s (-1.48%)
KEN24 : 600-6s (-0.78%)
KEU24 : 609-6s (-0.93%)
MWN24 : 632-6s (-0.90%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Soft Signal Strength.

Key Turning Points

3rd Resistance Point 1210-3
2nd Resistance Point 1204-3
1st Resistance Point 1192-5
Last Price 1180-6s
1st Support Level 1174-7
2nd Support Level 1168-7
3rd Support Level 1157-1

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52-Week High 1428-2
Fibonacci 61.8% 1308-5
Fibonacci 50% 1271-5
Fibonacci 38.2% 1234-5
Last Price 1180-6s
52-Week Low 1115-0

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