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Soybean Meal Dec '23 (ZMZ23)

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Soybean Meal Futures Market News and Commentary

Soybeans Facing Early Midweek Weakness

Soybeans are down 6 to 6 3/4 cents so far on Wednesday AM trade. Futures slipped into the close, with contracts down 1 ¼ to 3 ¾ cents in the front months and up 1 to 2 cents across the rest of the board. Open interest was up 16,222 contracts on Tuesday, mostly in November (+7,985). The cmdtyView national average Cash Bean price was down 3 cents at $11.46. Soymeal futures were  down 10 cents to $2.20 in most contracts, with Soy Oil futures 18 to 27 points lower.

The weekly Crop Progress report from NASS showed the US soybean crop at 67% planted by May 17, still well above the 53% average pace for this time of year. Michigan was the only state to be behind the average planting pace. Emergence was at 32% vs. 23% on average.

Brazil’s soybean export estimate from ANEC is 16.1 MMT for May, a 0.1 MMT increase from the previous estimate. A private Brazil Consultancy Veeries, expects the country’s soybean area to grow by the smallest total (400,000 hectares or 988,420 acres) in 2... 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
11/30/23
Expiration Date
12/14/23 (expired)

Seasonal Chart

Soybean Meal Dec '23
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of May 12, 2026

View Chart Details
Commercials - Long / Short
237,523 (-2,387)
399,483 (+2,284)
Non-Commercials - Long / Short
198,130 (+7,664)
49,477 (-6,275)
Producers - Long / Short
109,396 (+932)
376,964 (+2,533)
Swap Dealers - Long / Short
122,378 (-2,079)
16,770 (+991)
Managed Money - Long / Short
150,131 (+2,662)
33,968 (-1,265)
Other Reportables - Long / Short
47,999 (+5,002)
15,509 (-5,010)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
419.0 +0.50%
on 12/04/23
479.0 -12.09%
on 11/15/23
-52.5 (-11.09%)
since 11/14/23
3-Month
366.5 +14.90%
on 10/05/23
479.0 -12.09%
on 11/15/23
+21.7 (+5.43%)
since 09/14/23
52-Week
361.8 +16.39%
on 05/31/23
479.0 -12.09%
on 11/15/23
+6.3 (+1.52%)
since 12/14/22

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 421.1
2nd Resistance Point 421.1
1st Resistance Point 421.1
Last Price 421.1s
1st Support Level 421.1
2nd Support Level 421.1
3rd Support Level 421.1

See More

52-Week High 479.0
Fibonacci 61.8% 434.2
Last Price 421.1s
Fibonacci 50% 420.4
Fibonacci 38.2% 406.6
52-Week Low 361.8

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