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Soybean Meal Jan '24 (ZMF24)

351.3s -10.1 (-2.79%) 01/12/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, Jan 12th, 2024
Day Low
351.3
Day High
361.8
Open 361.8
Previous Close 361.4 361.4
Volume 20 20
Open Interest 34 34
Stochastic %K 2.84% 2.84%
Weighted Alpha -17.11 -17.11
5-Day Change -17.3 (-4.69%) -17.3 (-4.69%)
52-Week Range 351.3 - 460.6 351.3 - 460.6
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Soybean Meal Futures Market News and Commentary

Soybeans Sneak Out Slight Tuesday Gains

Soybeans of their hat on Tuesday, with contracts closing fractionally to 2 cents higher on the day. The cmdtyView Cash Bean price was up 1 1/2 cents to $10.13. Soymeal futures were mixed with contracts up 40 cents to down $1.70/ton, as Soy Oil was 30 to 41 points higher. 

Traders surveyed by Bloomberg are looking for an average increase of 3 million bushel to the old crop US soybean carry out to 353 mbu.  For the new crop figure, analysts are looking for a slight increase to 298 mbu.

Weekly Crop Progress data from USDA showed planting in IN (-1%), KY (-5%), MI (-1%), MS (-5%), NE (-1%), and OH (-2%) were lagging behind their respective averages. Conditions were up 1% across the country to 69% good/excellent, as the Brugler500 index was up 2 points to 372. By state, IN (-3), KS (-10), NE (-4), and MN (-1) were notable decreases. Improvement was seen in IL (+1), MS (+13), SD (+9), with MO, ND, and OH all up 8 points.

US and China trade talks continued today in London... 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
$2,090/1,900
First Notice Date
12/29/23
Expiration Date
01/12/24 (expired)

Seasonal Chart

Soybean Meal Jan '24
Average Price Chart for 5 Prior Jan Contracts

Commitment of Traders Positions as of Jun 3, 2025

View Chart Details
Commercials - Long / Short
290,014 (+10,317)
259,567 (+6,926)
Non-Commercials - Long / Short
124,108 (-67)
178,627 (+5,299)
Producers - Long / Short
164,895 (+6,838)
242,457 (+4,618)
Swap Dealers - Long / Short
110,389 (+1,229)
2,380 (+58)
Managed Money - Long / Short
65,559 (-779)
159,229 (+2,113)
Other Reportables - Long / Short
58,549 (+712)
19,398 (+3,186)
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
Period Open: 410.3
413.5 -15.04%
on 12/18/23
-59.0 (-14.38%)
since 12/12/23
3-Month
351.3 unch
on 01/12/24
Period Open: 389.2
460.6 -23.73%
on 11/15/23
-37.9 (-9.74%)
since 10/12/23
52-Week
351.3 unch
on 01/12/24
Period Open: 408.0
460.6 -23.73%
on 11/15/23
-56.7 (-13.90%)
since 01/12/23

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 368.8
2nd Resistance Point 365.3
1st Resistance Point 358.3
Last Price 351.3s
1st Support Level 347.8
2nd Support Level 344.3
3rd Support Level 337.3

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52-Week High 460.6
Fibonacci 61.8% 418.8
Fibonacci 50% 406.0
Fibonacci 38.2% 393.1
Last Price 351.3s
52-Week Low 351.3

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