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Soybean Meal Pit Jan '24 (SMF24)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Post Tuesday Losses, Following Bean Meal

Soybeans closed out Tuesday with losses of 9 to 10 ¼ cent in the front months to follow up the Monday pullback. The cmdtyView national average Cash Bean price was 10 1/4 cents lower at $9.66 1/4. Soymeal futures were a pressure factor, down $4.50 to $8.20, as Soy Oil futures are up 80 to 96 points. There were 26 deliveries issued against soybeans on Friday night, with 30 for January bean oil.

USDA reported a private export sale of 168,000 MT of soybeans to China this morning, with 152,404 MT reported as sold to Mexico.

Late on Monday afternoon, President Trump threatened a 25% tariff on any country doing business with Iran, with biggest concern being China. There has been no response from China. 

NOPA data will be out on Thursday, with traders looking for a total of 224.8 million bushels of soybeans crushed in December. 

Sinograin sold 1.1 MMT of soybeans in their auction of Chinese state reserves on Tuesday.

January exports out of Brazil are estimated... Read more

Contract Specifications

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Exchange
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Seasonal Chart

Soybean Meal Pit Jan '24
Average Price Chart for 5 Prior Pit Contracts
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
412.8 -14.90%
on 12/18/23
-59.0 (-14.38%)
since 12/12/23
3-Month
351.3 unch
on 01/12/24
455.6 -22.89%
on 11/14/23
-37.9 (-9.74%)
since 10/12/23
52-Week
351.3 unch
on 01/12/24
455.6 -22.89%
on 11/14/23
-56.7 (-13.90%)
since 01/12/23

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Soybeans Post Tuesday Losses, Following Bean Meal

Soybeans closed out Tuesday with losses of 9 to 10 ¼ cent in the front months to follow up the Monday pullback. The cmdtyView national average Cash Bean price was 10 1/4 cents lower at $9.66 1/4. Soymeal...

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Soybeans Falling on Tuesday, as Meal Adds Pressure

Soybeans are trading with Tuesday losses of 9 to 11 cents so far on Tuesday. The cmdtyView national average Cash Bean price is 11 cents lower at $9.66 1/2. Soymeal futures are a pressure factor, down $36...

ZSPAUS.CM : 9.6636 (-1.03%)
ZLH26 : 51.48 (+0.55%)
ZMH26 : 292.3 (+0.24%)
ZSX25 : 1112-6s (-1.70%)
ZSF26 : 1023-2s (-0.94%)
ZSH26 : 1043-4 (+0.46%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 351.3
2nd Resistance Point 351.3
1st Resistance Point 351.3
Last Price 351.3s
1st Support Level 351.3
2nd Support Level 351.3
3rd Support Level 351.3

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52-Week High 455.6
Fibonacci 61.8% 415.8
Fibonacci 50% 403.5
Fibonacci 38.2% 391.1
Last Price 351.3s
52-Week Low 351.3

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