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Soybean Meal May '26 (ZMK26)

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Soybean Meal Futures Market News and Commentary

Soybeans Pushing Higher Ahead of Trump/Xi Visit

Soybeans are trading with 1 to 2 cent gains on Wednesday morning. Futures were in rally mode on Tuesday, with contracts up 10 1/4 to 13 3/4 cents at the close. Open interest rose 8,392 contracts on Tuesday. The cmdtyView national average Cash Bean price was up 14 1/2 cents at $11.61 3/4. Soymeal futures were up $1.20 to $5.10, with Soy Oil futures 85 to 162 points higher. 

President Trump landed in Beijing this morning as he is expected to meet with China’s President Xi over the next couple days, with trade likely at the top of the lists for topics of conversation.

USDA’s WASDE report showed old crop US carryout down 10 mbu to 340 mbu. That came from a 10 mbu cut to exports and 20 mbu increase to crush. New crop data was also published, with US ending stock at 310 mbu, well below the 366 mbu estimate. The initial World Ag Outlook Board production number for the US was seen at 4.435 bbu, with yield seen at 53 bpa. 

South American production was left unchanged this m... 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
04/30/26
Expiration Date
05/14/26 (1 day)

Seasonal Chart

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

Commitment of Traders Positions as of May 5, 2026

View Chart Details
Commercials - Long / Short
239,910 (-7,126)
397,199 (-10,266)
Non-Commercials - Long / Short
190,466 (-6,229)
55,752 (+2,158)
Producers - Long / Short
108,464 (-9,841)
374,431 (-10,604)
Swap Dealers - Long / Short
124,457 (+2,150)
15,779 (-227)
Managed Money - Long / Short
147,469 (-3,952)
35,233 (+4,871)
Other Reportables - Long / Short
42,997 (-2,277)
20,519 (-2,713)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
319.2 +5.08%
on 05/04/26
339.6 -1.24%
on 04/14/26
+3.5 (+1.05%)
since 04/13/26
3-Month
306.7 +9.36%
on 02/19/26
339.6 -1.24%
on 04/14/26
+21.9 (+6.99%)
since 02/13/26
52-Week
288.1 +16.42%
on 07/31/25
339.6 -1.24%
on 04/14/26
+23.7 (+7.60%)
since 05/13/25

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Most Recent Stories

More News
Soybeans Pushing Higher Ahead of Trump/Xi Visit

Soybeans are trading with 1 to 2 cent gains on Wednesday morning. Futures were in rally mode on Tuesday, with contracts up 10 1/4 to 13 3/4 cents at the close. Open interest rose 8,392 contracts on Tuesday....

ZSPAUS.CM : 11.6628 (+0.47%)
ZLN26 : 75.28 (-0.11%)
ZMN26 : 335.9 (+2.28%)
ZSPX26US.CM : 11.4441 (+0.53%)
ZSX26 : 1211-0 (+0.50%)
ZSK26 : 1217-0 (+0.29%)
ZSN26 : 1232-0 (+0.43%)
Corn Slipping Back Early on Wednesday

Corn prices are down fractionally to a penny so far on Wednesday AM trade. Futures held on Tuesday, with contracts up 4 to 5 cents at the close. A limit rally in the wheat market was supportive. Open interest...

ZCZ26 : 504-4 (+0.50%)
ZCN26 : 482-6 (+0.57%)
ZCK26 : 467-2 (unch)
ZCPZ26US.CM : 4.6644 (+0.54%)
ZCPAUS.CM : 4.4187 (+0.68%)
Wheat Trading Mixed on Wednesday Morning

Wheat is trading mixed on Wednesday morning, with Chicago on a weaker note, The wheat complex was in rally mode on Tuesday, hitting the limit in a few contracts. Chicago SRW was up as little as 13 ½ cents...

KEN26 : 736-6 (+0.75%)
KEK26 : 720-4s (+6.98%)
MWK26 : 7.1525s (+5.53%)
ZWK26 : 664-2 (-0.11%)
ZWN26 : 679-0 (unch)
U.S. and global wheat production projections down for 2026/2027

I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391. The forecast for 2026/27 United States winter wheat is down 25 percent from last...

Corn Posts Gains on Tuesday

Corn futures held on Tuesday, with contracts up 4 to 5 cents at the close. A limit rally in the wheat market was supportive. The CmdtyView national average Cash Corn price was up 5 cents to $4.39. The...

ZCZ26 : 504-4 (+0.50%)
ZCN26 : 482-6 (+0.57%)
ZCK26 : 467-2 (unch)
ZCPZ26US.CM : 4.6644 (+0.54%)
ZCPAUS.CM : 4.4187 (+0.68%)
Soybeans Closes with Tuesday Gains USDA Tightens Stocks

Soybeans were in rally mode on Tuesday, with contracts up 10 1/4 to 13 3/4 cents at the close. The cmdtyView national average Cash Bean price was up 14 1/2 cents at $11.61 3/4. Soymeal futures were up...

ZSPAUS.CM : 11.6628 (+0.47%)
ZLN26 : 75.28 (-0.11%)
ZMN26 : 335.9 (+2.28%)
ZSPX26US.CM : 11.4441 (+0.53%)
ZSX26 : 1211-0 (+0.50%)
ZSK26 : 1217-0 (+0.29%)
ZSN26 : 1232-0 (+0.43%)
Wheat Rallies the Limit on Tuesday as USDA Releases Production Updates

The wheat complex was in rally mode on Tuesday, hitting the limit in a few contracts. Chicago SRW was up as little as 13 ½ cents in the deferreds to the 45 cent limit in July. KC HRW futures rallied from...

KEN26 : 736-6 (+0.75%)
KEK26 : 720-4s (+6.98%)
MWK26 : 7.1525s (+5.53%)
ZWK26 : 664-2 (-0.11%)
ZWN26 : 679-0 (unch)
Pure Hedge - Livestock and Grain

WASDE Report Sends the Grains Higher - Nervous Livestock Markets Dive Lower

Grain Spreads: Wheat Rips Higher

Bull Report Fuels KC Wheat Trade

Shootin' the Bull about inflicting casualties

Today's market venue is not for the faint of heart.  Massive volatility and price expanse are expected to inflict heavy casualties in the cattle industry.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 341.0
2nd Resistance Point 338.3
1st Resistance Point 335.6
Last Price 335.4
1st Support Level 330.2
2nd Support Level 327.5
3rd Support Level 324.8

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52-Week High 339.6
Last Price 335.4
Fibonacci 61.8% 319.9
Fibonacci 50% 313.8
Fibonacci 38.2% 307.8
52-Week Low 288.1

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