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Soybean Meal Pit Aug '24 (SMQ24)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Rounds Out the Week with Strength

Soybeans futures closed the Friday session with 5 ¾ to 12 ¾ cent gains, as May was 24 cents higher this week. November was up 27 cents on the week. The cmdtyView national average Cash Bean price was up 13 1/2 cents at $11.37 3/4. Soymeal futures were steady to $2.10 higher, with May the exception, down $1.50, as May was down $3.50 on the week. Soy Oil futures were 29 to 93 points higher on Friday, as May was 474 points in the green this week.

Commitment of Traders data showed speculators in soybean futures and options trimming 7,602 contracts from their net long position as of April 28, taking the position to 185,282 contracts. Bean oil extended their record net long by 281 contracts to 165,725 contracts.

USDA’s monthly Fats & Oils report from Friday afternoon showed March soybean crush at 227.36 million bushels, shy of the 231.1 mbu estimate. That was still 6.15% above February and 9.98% above the same month in 2025. Marketing year crush is now 1.651 billion bushels, up... Read more

Contract Specifications

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Exchange
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Seasonal Chart

Soybean Meal Pit Aug '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
329.9 +2.82%
on 02/27/24
345.2 -1.74%
on 02/20/24
-3.2 (-0.93%)
since 02/16/24
3-Month
329.9 +2.82%
on 02/27/24
390.5 -13.14%
on 12/26/23
-47.3 (-12.24%)
since 12/19/23
52-Week
329.9 +2.82%
on 02/27/24
421.1 -19.45%
on 11/13/23
-46.5 (-12.06%)
since 03/17/23

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Soybeans Rounds Out the Week with Strength

Soybeans futures closed the Friday session with 5 ¾ to 12 ¾ cent gains, as May was 24 cents higher this week. November was up 27 cents on the week. The cmdtyView national average Cash Bean price was...

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Wheat Trading Mostly Higher at Midday

The wheat complex closed Friday with most exchanges higher. Chicago SRW futures saw steady to 5 cent higher trade, as May was 16 ¼ cents in the green since last Friday. KC HRW futures posted ¾ to 4 ½...

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Corn Closes Friday with Gains to Round Out the Week

Corn futures posted gains of 1 ¼ to 5 ½ cents across the board on Friday, with May rallying 13 ¼ cents on the week. December was 14 ½ cents higher this week. The CmdtyView national average Cash Corn...

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Cattle Markets Rally to New Highs and Fail

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Grain Crushings - 2026-05-01

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ZCPAUS.CM : 4.3881 (+1.64%)
ZCYAUS-BIW.CM : 183.74 (unch)
ZCN26 : 480-2s (+1.16%)
XBQ26 : 224.50s (-0.22%)
XEU26 : 71.62s (unch)
XVN26 : 2,423s (-0.25%)
ZCDAUS-BIW.CM : 15,671,136 (unch)
ZCBAUS.CM : -0.4144 (-25.46%)
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Shootin' the Bull about skating on thin ice

All industry participants spread themselves thinner in projected negative margins between sectors traded, as spreads between beef and cattle widened, and from weight class to weight class.

Corn Posting Gains to Round Out the Week

Corn futures are trading with contracts up 5 to 7 ¼ cents across most contracts on Friday. The CmdtyView national average Cash Corn price is higher on the day to $4.41 ¾. USDA reported a private export...

ZCZ26 : 498-6s (+0.91%)
ZCN26 : 480-2s (+1.16%)
ZCK26 : 468-2s (+0.75%)
ZCPZ26US.CM : 4.6191 (+1.04%)
ZCPAUS.CM : 4.3881 (+1.64%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 339.2
2nd Resistance Point 339.2
1st Resistance Point 339.2
Last Price 339.2s
1st Support Level 339.2
2nd Support Level 339.2
3rd Support Level 339.2

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52-Week High 421.1
Fibonacci 61.8% 386.3
Fibonacci 50% 375.5
Fibonacci 38.2% 364.7
Last Price 339.2s
52-Week Low 329.9

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