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Soybean Meal May '24 (ZMK24)

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Soybean Meal Futures Market News and Commentary

Soybeans Get Strength from Bean Oil Gains

Soybeans posted 4 to 5 ½ cent gains on Tuesday. The cmdtyView national average Cash Bean price was 4 3/4 cents higher at $10.00 1/2. Soymeal futures were $1.40 to $2.60 lower, with Soy Oil futures up 102 to 129 points.

The Treasury issued guidance on the 45Z tax credit this morning, adding some premium to bean oil and lessening some uncertainty. 

USDA’s monthly Fats & Oils report from Monday afternoon showed a total of 229.84 million bushels of soybeans crushed in December, shy of trade estimates. That was still 4.24% above November and 5.59% larger yr/yr. Marketing year crush since September has totaled 891.58 million bushels, which is up 7.43% from the same period last year.

EU soybean imports have totaled 7.29 MMT, from July 1 to February 1, which is down 1.33 MMT from the same period last year. 

Mar 26 Soybeans  closed at $10.65 3/4, up 5 1/2 cents,

Nearby Cash  was $10.00 1/2, up 4 3/4 cents,

May 26 Soybeans  closed at $10.77 1/4, up 4 3/4 ce... 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
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

Soybean Meal May '24
Average Price Chart for 5 Prior May 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
335.2 +8.47%
on 04/16/24
381.9 -4.79%
on 05/07/24
+19.2 (+5.57%)
since 04/12/24
3-Month
323.2 +12.50%
on 02/29/24
381.9 -4.79%
on 05/07/24
+27.1 (+8.05%)
since 02/14/24
52-Week
323.2 +12.50%
on 02/29/24
435.9 -16.59%
on 11/08/23
-15.5 (-4.09%)
since 05/12/23

More Soybean Meal Quotes

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Most Recent Stories

More News
Soybeans Get Strength from Bean Oil Gains

Soybeans posted 4 to 5 ½ cent gains on Tuesday. The cmdtyView national average Cash Bean price was 4 3/4 cents higher at $10.00 1/2. Soymeal futures were $1.40 to $2.60 lower, with Soy Oil futures up...

ZSPAUS.CM : 10.0049 (+0.48%)
ZLH26 : 54.49 (unch)
ZMH26 : 291.8 (-0.03%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1067-2 (+0.14%)
ZSK26 : 1079-2 (+0.19%)
Corn Closes with Tuesday Strength

Corn futures were 2 to 3 cents higher at the Tuesday close. The CmdtyView national average Cash Corn price was up 2 1/2 cents at $3.94 1/4. EIA data will be released on Wednesday morning, with most expecting...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 436-4 (+0.17%)
ZCH26 : 429-0 (+0.12%)
ZCPAUS.CM : 3.9421 (+0.67%)
Wheat Closes Mixed on Tuesday

The wheat complex was mixed at on Tuesday, with the hard red contracts feeling weakness. Chicago SRW futures were steady to 1 1/2 cents higher KC HRW futures were fractionally mixed across the nearbys....

KEK26 : 549-2 (+0.46%)
KEH26 : 537-4 (+0.51%)
MWH26 : 5.6850 (+0.04%)
ZWH26 : 531-2 (+0.47%)
ZWK26 : 540-0 (+0.42%)
Wheat Posting Mixed Trade at Midday

The wheat complex is mixed at midday, with the hard red contracts weaker. Chicago SRW futures are steady to fractionally higher in the front months. KC HRW futures are down 1 to 2 ½ cents on Tuesday....

KEK26 : 549-2 (+0.46%)
KEH26 : 537-4 (+0.51%)
MWH26 : 5.6850 (+0.04%)
ZWH26 : 531-2 (+0.47%)
ZWK26 : 540-0 (+0.42%)
Soybeans Following Bean Oil Higher

Soybeans are trading with 6 to 8 cent gains at Tuesday’s midday. The cmdtyView national average Cash Bean price is 6 3/4 cents lower at $10.03 1/2. Soymeal futures are $2.30 lower, with Soy Oil futures...

ZSPAUS.CM : 10.0049 (+0.48%)
ZLH26 : 54.49 (unch)
ZMH26 : 291.8 (-0.03%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1067-2 (+0.14%)
ZSK26 : 1079-2 (+0.19%)
Corn Posting Midday Gains on Tuesday

Corn futures are trading with 2 to 3 cent gains at midday. The CmdtyView national average Cash Corn price is up 2 1/2 cents at $3.94 1/4. NASS released their monthly Grain Crushings report on Monday afternoon,...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 436-4 (+0.17%)
ZCH26 : 429-0 (+0.12%)
ZCPAUS.CM : 3.9421 (+0.67%)
What Does February Mean for the US Soybean Market?

Like August in the Northern Hemisphere, February is a key month for South America's soybean crop and the soybean market in general.

$CNSI : 1,002.93 (+0.56%)
Corn Slightly Higher on Tuesday Morning

Corn price action is up 1 to 2 cents so far on Tuesday morning. Futures were down 2 to 3 cents in the front months at Monday’s close. Open interest on Monday showed new selling, up 12,836 contracts on...

ZCZ25 : 431-4s (-0.86%)
ZCK26 : 436-4 (+0.17%)
ZCH26 : 429-0 (+0.12%)
ZCPAUS.CM : 3.9421 (+0.67%)
Soybeans Popping Higher on Tuesday Morning with Bean Oil leading the Charge

Soybeans are trading with 7 to 9 cent gains on Tuesday AM trade. Futures saw weaker trade on Monday with contracts closing 4 to 5 cents lower in the nearbys. Open interest was down just 225 contracts on...

ZSPAUS.CM : 10.0049 (+0.48%)
ZLH26 : 54.49 (unch)
ZMH26 : 291.8 (-0.03%)
ZSX25 : 1112-6s (-1.70%)
ZSH26 : 1067-2 (+0.14%)
ZSK26 : 1079-2 (+0.19%)
Wheat Showing Slight Gains on Tuesday Morning

Wheat is slightly higher in the winter wheat front months on Tuesday, with spring wheat weaker. The wheat complex extended weaker trade into the Monday session, as a stronger US dollar index, up $0.581,...

KEK26 : 549-2 (+0.46%)
KEH26 : 537-4 (+0.51%)
MWH26 : 5.6850 (+0.04%)
ZWH26 : 531-2 (+0.47%)
ZWK26 : 540-0 (+0.42%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 364.7
2nd Resistance Point 364.1
1st Resistance Point 363.9
Last Price 363.6s
1st Support Level 363.1
2nd Support Level 362.5
3rd Support Level 362.3

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52-Week High 435.9
Fibonacci 61.8% 392.8
Fibonacci 50% 379.5
Fibonacci 38.2% 366.3
Last Price 363.6s
52-Week Low 323.2

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