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Soybean Meal Jan '24 (ZMF24)

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Soybean Meal Futures Market News and Commentary

Soybeans Posting Friday Gains to Round Out February

Soybeans are posting 5 to 6 cent gains in the nearby contracts on Friday. There were 138 deliveries issue against March soybean futures overnight. The cmdtyView national average Cash Bean price is up 5 3/4 cents at $10.89 1/2.  Soymeal futures are steady to $1.90 lower in the front months, with Soy Oil futures up another 10 to 20 points in the nearbys. There were 102 delivery notices for March soybean meal overnight, with 340 for bean oil.

The average close for November soybean futures has been $11.08 so far in February, up 54 cents from the total last year, with Friday being the last day for price discovery for the spring soybean crop insurance price. 

USDA’s Export Sales report for the week of February 19 brought the total soybean export commitment total to 35.65 MMT, a decline of 19% from the same period last year. That is now 83% of the USDA export estimate and behind the 91% average pace.  

Brazil’s Safras & Mercado estimates the Brazilian soybean crop at 177.... 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
$1,705/1,550
First Notice Date
12/29/23
Expiration Date
01/12/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Feb 17, 2026

View Chart Details
Commercials - Long / Short
283,091 (+2,173)
319,564 (+12,437)
Non-Commercials - Long / Short
109,382 (-3,065)
91,036 (-10,039)
Producers - Long / Short
151,980 (-2,650)
295,791 (+7,833)
Swap Dealers - Long / Short
120,117 (+1,796)
12,779 (+1,577)
Managed Money - Long / Short
73,813 (+3,249)
76,957 (-10,821)
Other Reportables - Long / Short
35,569 (-6,314)
14,079 (+782)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
351.3 unch
on 01/12/24
413.5 -15.04%
on 12/18/23
-59.0 (-14.38%)
since 12/12/23
3-Month
351.3 unch
on 01/12/24
460.6 -23.73%
on 11/15/23
-37.9 (-9.74%)
since 10/12/23
52-Week
351.3 unch
on 01/12/24
460.6 -23.73%
on 11/15/23
-56.7 (-13.90%)
since 01/12/23

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Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 368.8
2nd Resistance Point 365.3
1st Resistance Point 358.3
Last Price 351.3s
1st Support Level 347.8
2nd Support Level 344.3
3rd Support Level 337.3

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52-Week High 460.6
Fibonacci 61.8% 418.8
Fibonacci 50% 406.0
Fibonacci 38.2% 393.1
Last Price 351.3s
52-Week Low 351.3

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