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Soybean Meal Mar '23 (ZMH23)

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Soybean Meal Futures Market News and Commentary

Soybeans Come Back to Close Mixed

Soybeans rallied off the early midday losses by 10-13 cents on Thursday to close with front months down 1 to 3 ¼ cents and the September and beyond contracts up ½ to 2 ½ cents. May options expire on Friday. Soymeal ended the day with contracts down dime to $2.10/ton. Soy Oil rallied from weaker midday action, with gains of 10 to 21 points.

Export Sales data showed just 210,899 MT of soybeans booked in the week that ended on April 18, a 3-week low and below the trade estimates. China was the top buyer of 167,500 MT, as unknown had 136,800 MT in net reductions as they were switched to a destination. New crop sales were on the low side of the trade range at 120,060 MT, less than half of the previous week’s total. 

Soybean meal sales picked up in the week of 4/18 to 307,859 MT for 23/24, an 8-week high and more than double the previous week. The 24/25 sales were tallied at 35,104 MT. Soybean oil sales were at a 7-week high and second largest this MY at 16,231 MT

Soybea... 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
02/28/23
Expiration Date
03/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Apr 16, 2024

View Chart Details
Commercials - Long / Short
223,843 (+511)
226,195 (+5,809)
Non-Commercials - Long / Short
102,248 (+11,268)
115,080 (+2,038)
Producers - Long / Short
121,101 (-785)
218,857 (+8,009)
Swap Dealers - Long / Short
99,528 (+3,434)
4,124 (-62)
Managed Money - Long / Short
82,325 (+11,524)
92,062 (-1,513)
Other Reportables - Long / Short
19,923 (-256)
23,018 (+3,551)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
485.7 +1.34%
on 02/28/23
510.8 -3.64%
on 03/07/23
-8.8 (-1.76%)
since 02/14/23
3-Month
443.4 +11.01%
on 12/19/22
510.8 -3.64%
on 03/07/23
+36.0 (+7.89%)
since 12/14/22
52-Week
374.3 +31.50%
on 07/05/22
510.8 -3.64%
on 03/07/23
+86.7 (+21.38%)
since 03/14/22

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Most Recent Stories

More News
Wheat Continues Rally as Dryness Expands in Southern Plains

The wheat complex extended the bulls winning streak on Thursday. MPLS led the way this time, up 7 to 12 cents, with Kansas City 8 to 10 ½ cents higher in most contracts. Chicago futures were up 5 ¼ to...

ZWK24 : 602-2s (+1.30%)
ZWN24 : 620-4s (+1.22%)
KEK24 : 632-0s (+1.24%)
KEN24 : 640-4s (+1.67%)
MWK24 : 691-0s (+1.77%)
Soybeans Come Back to Close Mixed

Soybeans rallied off the early midday losses by 10-13 cents on Thursday to close with front months down 1 to 3 ¼ cents and the September and beyond contracts up ½ to 2 ½ cents. May options expire on...

ZMN24 : 347.6s (-0.46%)
ZLN24 : 45.43s (+0.35%)
ZSK24 : 1162-6s (-0.28%)
ZSPAUS.CM : 11.1097 (-0.26%)
ZSN24 : 1179-6s (-0.15%)
ZSX24 : 1175-4s (+0.09%)
ZSPX24US.CM : 11.1519 (+0.10%)
Corn Ends Higher, Helped by 10-week High in Export Sales

Corn rounded out the Tuesday session with contracts up 1 ¾ to 5 cents across the board. Futures were helped out by spillover support from wheat and positive Export Sales data. USDA reported corn bookings...

ZCK24 : 441-0s (+0.74%)
ZCPAUS.CM : 4.2602 (+0.85%)
ZCN24 : 452-0s (+0.78%)
ZCZ24 : 476-2s (+0.74%)
ZCPZ24US.CM : 4.4509 (+0.79%)
Corn Posting Gains Following 10-week High in Export Business

Corn futures are showing gains of 2 to 3 ½ cents across the front months on Thursday, pulled up by spillover support from wheat and positive Export Sales data. USDA reported corn bookings of 1.3 MMT...

ZCK24 : 441-0s (+0.74%)
ZCPAUS.CM : 4.2602 (+0.85%)
ZCN24 : 452-0s (+0.78%)
ZCZ24 : 476-2s (+0.74%)
ZCPZ24US.CM : 4.4509 (+0.79%)
Wheat Bulls Continuing Charge on Thursday

The wheat complex is trading with another round of strength on Thursday. Kansas City is up 8 to 9 cents at midday. Chicago contracts are 7 to 8 cents higher. MPLS spring wheat is up 6 to 8 cents on the...

ZWK24 : 602-2s (+1.30%)
ZWN24 : 620-4s (+1.22%)
KEK24 : 632-0s (+1.24%)
KEN24 : 640-4s (+1.67%)
MWK24 : 691-0s (+1.77%)
Soybeans Continuing Slide on Product Pressure

Soybeans are trading 4 to 8 ½ cents lower so far on Thursday, as pressure from the product values is holding things back. Soymeal is showing losses of $3.30 to $3.60, with Soy Oil down 31 to 32 points...

ZMN24 : 347.6s (-0.46%)
ZLN24 : 45.43s (+0.35%)
ZSK24 : 1162-6s (-0.28%)
ZSPAUS.CM : 11.1097 (-0.26%)
ZSN24 : 1179-6s (-0.15%)
ZSX24 : 1175-4s (+0.09%)
ZSPX24US.CM : 11.1519 (+0.10%)
Oats measured after roll to July expiration

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Soybeans looking attractive

We provide technical analysis on Soybeans

Corn Squeezing Out Overnight Gains

Overnight action in the corn market was lightly higher with prices up fractionally this morning. Corn futures extended the front month losses into the close, as contracts through Dec were down 2 to 5...

ZCK24 : 441-0s (+0.74%)
ZCPAUS.CM : 4.2602 (+0.85%)
ZCN24 : 452-0s (+0.78%)
ZCZ24 : 476-2s (+0.74%)
ZCPZ24US.CM : 4.4509 (+0.79%)
Soybeans Slipped Lower on Wednesday, Continues Similar Attitude This Morning

Soybeans are trading 4 to 6 cents lower following the overnight trade. They faded the earlier morning strength, as contracts were mixed but well off the highs. Futures closed with contracts anywhere from...

ZMN24 : 347.6s (-0.46%)
ZLN24 : 45.43s (+0.35%)
ZSK24 : 1162-6s (-0.28%)
ZSPAUS.CM : 11.1097 (-0.26%)
ZSN24 : 1179-6s (-0.15%)
ZSX24 : 1175-4s (+0.09%)
ZSPX24US.CM : 11.1519 (+0.10%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 498.5
2nd Resistance Point 495.3
1st Resistance Point 493.8
Last Price 492.2s
1st Support Level 489.1
2nd Support Level 485.9
3rd Support Level 484.4

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52-Week High 510.8
Last Price 492.2s
Fibonacci 61.8% 458.7
Fibonacci 50% 442.5
Fibonacci 38.2% 426.4
52-Week Low 374.3

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