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Soybean Nov '24 (ZSX24)

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Soybean Futures Market News and Commentary

Soybeans Sticking Closer to Even Following Lackluster Export Sales Data

Soybeans are slipping lower on Thursday following dull Export Sales data. Contracts are steady to 4 cents lower in the nearbys, with July slightly higher. Soymeal futures are down $1.70 to $2.30/ton. Soy Oil is extending the bounce with 80 point gains.

Weekly Export Sales data tallied soybean bookings at just 265,733 MT, below the trade range of estimates. That was a 3-week low and down 38% from the week prior. Egypt purchased 90,400 MT, with Indonesia in for 87,900 MT and Mexico buying 86,600 MT. USDA also reported new crop sales at 25,160 MT, mostly to Taiwan, as China has yet to lock in any new crop sales. 

Soybean meal sales totaled 300,445 MT for the current MY and 31,110 MT for the 24/25 MY, as total sales snuck into the trade range of estimates. Bean oil saels were 9,114 MT for the current MY, as 24/25 sales were 962 MT.

Jul 24 Soybeans  are at $12.14, up 1/2 cent,

Nearby Cash  is at $11.51 3/8, up 5/8 cent,

Aug 24 Soybeans  are at $12.15, down 1... 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
10/31/24 (168 days)
Expiration Date
11/14/24 (182 days)

Seasonal Chart

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

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
426,277 (-21,528)
351,954 (+72,825)
Non-Commercials - Long / Short
123,324 (+31,224)
183,372 (-71,071)
Producers - Long / Short
278,671 (-23,527)
324,726 (+66,201)
Swap Dealers - Long / Short
132,765 (+2,103)
12,387 (+6,728)
Managed Money - Long / Short
82,311 (+29,520)
112,481 (-81,547)
Other Reportables - Long / Short
41,013 (+1,704)
70,891 (+10,476)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1146-6 +4.56%
on 04/19/24
1230-4 -2.56%
on 05/07/24
+40-4 (+3.50%)
since 04/16/24
3-Month
1122-6 +6.79%
on 02/26/24
1230-4 -2.56%
on 05/07/24
+50-4 (+4.40%)
since 02/16/24
52-Week
1116-2 +7.41%
on 05/31/23
1320-0 -9.17%
on 08/28/23
+14-2 (+1.20%)
since 05/16/23

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Most Recent Stories

More News
Corn futures have been under pressure for the last three sessions. Will support hold into the weekend or will the selling persist?

Corn futures have been under pressure for the last three sessions after failing against resistance to start the week. Will support hold into the weekend or will the selling persist?

Wheat Pulling on Thursday

The wheat complex is heading lower at midday. They again quickly faded the early session gains today. Chicago contracts are down 5 to 8 cents across the front months. Kansas City futures are steady to...

ZWN24 : 663-2s (-0.38%)
ZWU24 : 683-4s (-0.36%)
KEN24 : 673-2s (-0.26%)
KEU24 : 687-0s (-0.25%)
MWN24 : 720-6s (-0.86%)
Corn Slips from Higher Early Trade Again on Thursday

Corn futures are hitting the copy/paste button on the Thursday trade, as future are again fading the early session gains. Midday losses are totaling 4 to 7 cents as a planting window is open of areas across...

ZCN24 : 457-0s (-1.19%)
ZCPAUS.CM : 4.3296 (-1.42%)
ZCU24 : 467-6s (-1.16%)
ZCZ24 : 481-6s (-1.08%)
ZCPZ24US.CM : 4.5209 (-1.27%)
Soybeans Sticking Closer to Even Following Lackluster Export Sales Data

Soybeans are slipping lower on Thursday following dull Export Sales data. Contracts are steady to 4 cents lower in the nearbys, with July slightly higher. Soymeal futures are down $1.70 to $2.30/ton. Soy...

ZMN24 : 367.7s (-1.08%)
ZLN24 : 44.52s (+2.23%)
ZSN24 : 1216-2s (+0.23%)
ZSPAUS.CM : 11.5372 (+0.26%)
ZSQ24 : 1216-6s (+0.04%)
ZSX24 : 1199-0s (-0.17%)
ZSPX24US.CM : 11.3717 (-0.18%)
No Bull | The Five Spot

#5 | Big Bushels U.S. corn yields haven't hit/exceeded so-called trend (USDA’s initial print) since 2018 and although 2023 was a record-high yield at 177.3 - it fell well-below the 181.5 trend. In four...

Did yesterday’s selloff change the technical picture for corn?

Corn futures were under pressure the last few days, but was it enough to cause technical damage or is the trend still intact?

Soybeans Slightly Higher to Begin Thursday

Soybeans are posting fractional to 2 cent higher trade on Thursday morning. They slipped into the close, as contracts settled with losses of a penny to 4 ¾ cents after NOPA reported an ugly April crush...

ZMN24 : 367.7s (-1.08%)
ZLN24 : 44.52s (+2.23%)
ZSN24 : 1216-2s (+0.23%)
ZSPAUS.CM : 11.5372 (+0.26%)
ZSQ24 : 1216-6s (+0.04%)
ZSX24 : 1199-0s (-0.17%)
ZSPX24US.CM : 11.3717 (-0.18%)
Corn Back to Higher Trade on Thursday AM

Corn is trading 1 to 2 cents higher ahead of this morning’s Export Sales report. Futures faded the early gains on Wednesday, with contracts closing anywhere from 2 1/4 to 5 cents lower after July futures...

ZCN24 : 457-0s (-1.19%)
ZCPAUS.CM : 4.3296 (-1.42%)
ZCU24 : 467-6s (-1.16%)
ZCZ24 : 481-6s (-1.08%)
ZCPZ24US.CM : 4.5209 (-1.27%)
Wheat Reverting Higher on Thursday Morning

The wheat complex is heading higher across all three exchanges this morning. They quickly faded from the early double digit gains as losses were reported across the three exchanges on Wednesday. Chicago...

ZWN24 : 663-2s (-0.38%)
ZWU24 : 683-4s (-0.36%)
KEN24 : 673-2s (-0.26%)
KEU24 : 687-0s (-0.25%)
MWN24 : 720-6s (-0.86%)
Grain Markets: Will Global Production Issues Continue to Push Wheat Prices Higher?

In my interview today with Michelle Rook on AgWeb's Markets Now I spoke about the recent move higher in wheat, soybean, and corn prices. I also discussed crude oil, interest rates, and the cattle markets....

ZWK24 : 657-0s (-1.98%)
ZSN24 : 1216-2s (+0.23%)
ZCK24 : 453-6s (-1.04%)
LEM24 : 179.025s (+0.43%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1213-5
2nd Resistance Point 1209-1
1st Resistance Point 1204-1
Last Price 1199-0s
1st Support Level 1194-5
2nd Support Level 1190-1
3rd Support Level 1185-1

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52-Week High 1320-0
Fibonacci 61.8% 1242-1
Fibonacci 50% 1218-1
Last Price 1199-0s
Fibonacci 38.2% 1194-1
52-Week Low 1116-2

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