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Soybean Meal Jan '24 (ZMF24)

351.3s -10.1 (-2.79%) 01/12/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Overview for Fri, Jan 12th, 2024
Day Low
351.3
Day High
361.8
Open 361.8
Previous Close 361.4 361.4
Volume 20 20
Open Interest 34 34
Stochastic %K 2.84% 2.84%
Weighted Alpha -17.11 -17.11
5-Day Change -17.3 (-4.69%) -17.3 (-4.69%)
52-Week Range 351.3 - 460.6 351.3 - 460.6
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Soybean Meal Futures Market News and Commentary

Soybean Bulls Hold onto Gains on Thursday

Soybeans slipped from the near double digit gains early on Thursday bus still closed 1 to 2 cents higher and July up 5 ¾ cents. On the week, August was up 22 ¼ cents, with November rallying 24 ½ cents. The cmdtyView national average Cash Bean price was up 1 1/4 cents at $10.13 3/4. Soymeal futures were 60 cents to $1.40 higher on the day, with August $1.80 higher this week. Soy Oil was down 36 to 47 points, but still managed a 207 point gain on the week. The market will be closed on Friday for the July 4th holiday, with a normal Sunday night open.

Rains are expected to cover much of the Western Corn Belt in the next week, with 1 to 2 inches expected. Lighter totals reaching an inch or less are seen in the ECB.

USDA reported private export sales of 226,000 MT of old crop soybeans to unknown destinations this morning. Another flash sale of 195,000 MT of soybean meal was also reported (45,000 MT for 2024/25 and 150,000 MT for 2025/26).

This morning’s Export Sales repo... 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
$1,870/1,700
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 Jun 24, 2025

View Chart Details
Commercials - Long / Short
324,325 (+275)
272,398 (-12,691)
Non-Commercials - Long / Short
109,147 (-18,107)
185,211 (-1,231)
Producers - Long / Short
200,969 (+5,291)
258,404 (-12,442)
Swap Dealers - Long / Short
109,990 (-6,384)
628 (-1,617)
Managed Money - Long / Short
56,906 (-5,175)
163,142 (+453)
Other Reportables - Long / Short
52,241 (-12,932)
22,069 (-1,684)
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
Period Open: 410.3
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
Period Open: 389.2
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
Period Open: 408.0
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

See More

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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