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Soybean Meal Mar '26 (ZMH26)

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Soybean Meal Futures Market News and Commentary

Soybeans Extending Gains to Thursday Morning

Soybeans are trading with Thursday AM gains of 6 to 8 ½ cents in the front months as new crop November is steady. Futures were in rally mode following a mid-morning update from President Trump, as contracts closed with front month gains of 25 to 27 ½ cents. Some new crop contracts were up 4 to 11 ¼ cents. Preliminary open interest was up 16,470 contracts on Wednesday. The cmdtyView national average Cash Bean price was 26 1/4 cents higher at $10.27 3/4. Soymeal futures were $1.30 to $4.60 higher, with Soy Oil futures up 101 to 117 points in the nearbys.

A phone call between President Trump and China’s President Xi took place on Wednesday morning. Among the discussions, according to a post from the President, President Trump was looking to lift the soybean commitments to 20 MMT for the current season, vs. the 12 MMT previous stated. 

USDA’s Export Sales report will be out on Thursday, with Traders looking for between 0.4-1.6 MMT of soybean sales in the week of January 29.... 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
02/27/26 (22 days)
Expiration Date
03/13/26 (36 days)

Seasonal Chart

Soybean Meal Mar '26
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Jan 27, 2026

View Chart Details
Commercials - Long / Short
271,984 (-2,068)
280,053 (+14,262)
Non-Commercials - Long / Short
115,053 (+2,638)
123,347 (-11,858)
Producers - Long / Short
149,790 (-2,433)
261,796 (+10,889)
Swap Dealers - Long / Short
113,131 (-1,474)
9,194 (+1,534)
Managed Money - Long / Short
72,400 (+2,314)
108,202 (-4,690)
Other Reportables - Long / Short
42,653 (+324)
15,145 (-7,168)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
288.3 +5.20%
on 02/04/26
306.9 -1.17%
on 01/08/26
+3.4 (+1.13%)
since 01/05/26
3-Month
288.3 +5.20%
on 02/04/26
335.8 -9.68%
on 11/17/25
-25.7 (-7.81%)
since 11/05/25
52-Week
282.1 +7.52%
on 10/01/25
335.8 -9.68%
on 11/17/25
-25.6 (-7.78%)
since 02/05/25

More Soybean Meal Quotes

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Most Recent Stories

More News
How Much Higher Can Soybean Prices Go After Positive Trump-Xi Talks?

May soybean futures present a buying opportunity on more price strength.

ZSK26 : 1124-2 (+1.77%)
Will Outside Market Flows Trickle into Livestock Markets?

There’s been a broader unwind across multiple asset classes over the last week. Ag markets have mostly shrugged it off. Will the eventually take notice?

Soybeans Extending Gains to Thursday Morning

Soybeans are trading with Thursday AM gains of 6 to 8 ½ cents in the front months as new crop November is steady. Futures were in rally mode following a mid-morning update from President Trump, as contracts...

ZSPAUS.CM : 10.4512 (+1.78%)
ZLH26 : 55.51 (-0.27%)
ZMH26 : 304.4 (+2.77%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1110-6 (+1.69%)
ZSK26 : 1124-2 (+1.77%)
Wheat Showing Slight Losses on Thursday Morning

Wheat is trading with fractional losses in most winter wheat contracts, as spring wheat is a penny higher The wheat complex was lower across the board on Wednesday. Chicago SRW futures were 1 to 2 cents...

KEK26 : 549-4 (+1.24%)
KEH26 : 537-6 (+1.41%)
MWH26 : 5.6900 (+0.53%)
ZWH26 : 535-0 (+1.57%)
ZWK26 : 543-4 (+1.35%)
Corn Slipping Lower to Start Thursday Trade

Corn price action is down fractionally to 1 ½ cents so far on Thursday morning. Futures ended the Wednesday session with contracts a penny to 2 cents higher across the front months. Preliminary open interest...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 440-4 (+0.80%)
ZCH26 : 432-6 (+0.76%)
ZCPAUS.CM : 3.9946 (+0.81%)
AUG-DEC ’26 SOYBEAN-OIL SPREAD (ZLQ26-ZLZ26) - WALSH PURE SPREADER

WALSH PURE SPREADER - Pure Hedge Division

Corn Hold onto Wednesday Gain

Corn futures ended the Wednesday session with contracts a penny to 2 cents higher across the front months. The CmdtyView national average Cash Corn price was up 2 cents at $3.96 1/4. Some spillover support...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 440-4 (+0.80%)
ZCH26 : 432-6 (+0.76%)
ZCPAUS.CM : 3.9946 (+0.81%)
Soybeans Rally on Positive Trade News

Soybeans were in rally mode following a mid-morning update from President Trump, as contracts closed with front month gains of 25 to 27 ½ cents. Some new crop contracts were up 4 to 11 ¼ cents. The cmdtyView...

ZSPAUS.CM : 10.4512 (+1.78%)
ZLH26 : 55.51 (-0.27%)
ZMH26 : 304.4 (+2.77%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1110-6 (+1.69%)
ZSK26 : 1124-2 (+1.77%)
Wheat Continue Weakness on Wednesday

The wheat complex was lower across the board on Wednesday. Chicago SRW futures were 1 to 2 cents in the red at the close. KC HRW futures were 4 to 5 cents lower on the day. MPLS spring wheat was down 2...

KEK26 : 549-4 (+1.24%)
KEH26 : 537-6 (+1.41%)
MWH26 : 5.6900 (+0.53%)
ZWH26 : 535-0 (+1.57%)
ZWK26 : 543-4 (+1.35%)
Soybeans Rallying on President Trump Post

Soybeans are trading with 25 to 30 cent gains at midday. The cmdtyView national average Cash Bean price is 27 cents higher at $10.27 1/2. Soymeal futures are $3.40 to $3.80 higher, with Soy Oil futures...

ZSPAUS.CM : 10.4512 (+1.78%)
ZLH26 : 55.51 (-0.27%)
ZMH26 : 304.4 (+2.77%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1110-6 (+1.69%)
ZSK26 : 1124-2 (+1.77%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 319.1
2nd Resistance Point 311.3
1st Resistance Point 303.8
Last Price 304.4
1st Support Level 288.5
2nd Support Level 280.7
3rd Support Level 273.2

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52-Week High 335.8
Fibonacci 61.8% 315.3
Fibonacci 50% 309.0
Last Price 304.8
Fibonacci 38.2% 302.6
52-Week Low 282.1

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