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Soybean Meal Jul '24 (ZMN24)

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Soybean Meal Futures Market News and Commentary

Soybeans Head Higher on Wednesday

Soybeans rounded out the Wednesday session with contracts 4 ½ to 10 ¼ cents higher. Soymeal continued the weakness, with contracts 30 cents to $3.70/ton lower.  Soy Oil was 16 to 28 points higher across the board.

Export Sales data will be released on Thursday, with the trade range of estimates at 100,000 to 700,000 MT for old crop and up to 200,000 MT for new crop beans during the week of April 25. Soybean meal bookings are seen as totaling 150,000 to 400,000 MT, with bean oil bookings at et reduction of 5,000 to sales of 10,000 MT.

The monthly Fats & Oils report from USDA showed 203.7 mbu of soybeans crushed during March, below the 205.9 mbu estimate. That was up 2.91% from last year and a record for the month (though not an all time record), as well as 5.05% above February. Soy oil stocks were tallied at 2.369 billion lbs, above the 2.294 trade estimate and the largest total since last May.

May 24 Soybeans  closed at $11.55 3/4, up 10 1/4 cents,

Nearby Cas... Read more

Contract Specifications

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Contract
Soybean Meal
Contract Size
100 tons (2,000 pounds per ton)
Tick Size
10 cents per ton ($10.00 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
$100
Margin/Maintenance
$2,090/1,900
First Notice Date
06/28/24 (57 days)
Expiration Date
07/12/24 (71 days)

Seasonal Chart

Soybean Meal Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
211,556 (-12,287)
243,116 (+16,921)
Non-Commercials - Long / Short
120,442 (+18,194)
105,999 (-9,081)
Producers - Long / Short
110,658 (-10,443)
234,128 (+15,271)
Swap Dealers - Long / Short
96,441 (-3,087)
4,531 (+407)
Managed Money - Long / Short
99,851 (+17,526)
78,442 (-13,620)
Other Reportables - Long / Short
20,591 (+668)
27,557 (+4,539)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
328.9 +7.39%
on 04/03/24
361.4 -2.27%
on 04/30/24
+21.1 (+6.35%)
since 04/02/24
3-Month
326.7 +8.11%
on 02/29/24
361.4 -2.27%
on 04/30/24
-3.1 (-0.87%)
since 02/02/24
52-Week
326.7 +8.11%
on 02/29/24
434.2 -18.65%
on 11/08/23
-37.3 (-9.55%)
since 05/02/23

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Soybeans Head Higher on Wednesday

Soybeans rounded out the Wednesday session with contracts 4 ½ to 10 ¼ cents higher. Soymeal continued the weakness, with contracts 30 cents to $3.70/ton lower. Soy Oil was 16 to 28 points higher across...

ZMN24 : 352.8 (+1.09%)
ZLN24 : 43.51 (+0.58%)
ZSK24 : 1167-0 (+0.97%)
ZSPAUS.CM : 11.0878 (+0.73%)
ZSN24 : 1182-0 (+1.00%)
ZSX24 : 1173-6 (+0.75%)
ZSPX24US.CM : 11.0326 (+0.39%)
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Fats and Oils

Fats and Oils - 2024-05-01

ZCN24 : 455-4 (+1.05%)
ZSN24 : 1182-0 (+1.00%)
XSU24 : 3,949s (+0.23%)
XTN24 : 4,661s (+0.43%)
XVN24 : 2,386s (-0.04%)
ZMN24 : 352.8 (+1.09%)
ZLN24 : 43.51 (+0.58%)
XUU24 : 3,384s (+0.24%)
XXU24 : 7,638s (unch)
RSN24 : 632.20 (+1.04%)
KON24 : 3,823 (+0.13%)
YHU24 : 7,390s (-0.67%)
Grain Crushings

Grain Crushings - 2024-05-01

ZCN24 : 455-4 (+1.05%)
ZCPAUS.CM : 4.2915 (+0.51%)
ZCBAUS.CM : -0.2159 (-72.58%)
XVN24 : 2,386s (-0.04%)
XEU24 : 59.56 (-0.02%)
FLM24 : 1.71500s (-0.44%)
ZCDAUS-BIW.CM : 15,671,136 (unch)
ZCYAUS-BIW.CM : 183.74 (unch)
XBM24 : 202.75 (+0.87%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 356.4
2nd Resistance Point 353.2
1st Resistance Point 351.1
Last Price 352.8
1st Support Level 345.8
2nd Support Level 342.6
3rd Support Level 340.5

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52-Week High 434.2
Fibonacci 61.8% 393.1
Fibonacci 50% 380.4
Fibonacci 38.2% 367.8
Last Price 352.8
52-Week Low 326.7

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