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Soybean Meal May '23 (ZMK23)

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Soybean Meal Futures Market News and Commentary

Soybeans Mixed on Friday AM Trade

Soybeans are showing mixed action early on Friday, with front months up 1 to 2 ½ cents and new crop fractionally lower. The soybean market was in sell mode on Thursday, with contracts down 18 to 24 cents in most nearby contracts at the close. CmdtyView’s national front month Cash Bean price was down 23 1/4 cents at $9.60 1/2. Soymeal futures were $$6.50 to $7/ton lower to close out the day. Soy Oil futures were 123 to 128 points in the red on the session. The next 7 days is expected to be dry in Argentina, with the 8-14 day period turning wetter. 

Thursday morning’s Export Sales report showed a bounce back in business following the holiday week to 569,142 MT for 2024/25 sales in the week that ended on 1/9, in the middle of the trade estimates between 300,000 and 800,000 MT. That was a 3-week high and nearly double the previous week. China was the top buyer of 213,900 MT, with 179,200 MT sold to Bangladesh. Unknown cancelled a total of 648,100 MT, most of which was switched to... 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
$2,310/2,100
First Notice Date
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 7, 2025

View Chart Details
Commercials - Long / Short
261,905 (-832)
251,596 (-9,296)
Non-Commercials - Long / Short
104,534 (-17,040)
130,695 (-13,230)
Producers - Long / Short
154,835 (-4,482)
240,709 (-10,102)
Swap Dealers - Long / Short
96,940 (+3,052)
757 (+208)
Managed Money - Long / Short
62,220 (-9,780)
120,141 (-15,274)
Other Reportables - Long / Short
42,314 (-7,260)
10,554 (+2,044)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
415.0 +3.16%
on 05/11/23
471.1 -9.13%
on 04/18/23
-32.1 (-6.98%)
since 04/12/23
3-Month
415.0 +3.16%
on 05/11/23
498.0 -14.04%
on 03/07/23
-52.1 (-10.85%)
since 02/10/23
52-Week
373.1 +14.74%
on 07/05/22
498.0 -14.04%
on 03/07/23
+43.8 (+11.40%)
since 05/12/22

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Grain markets were under pressure in Thursday’s trade but are holding ground this morning. These are the levels to keep an eye on into the last trading day of the week.

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Soybeans Mixed on Friday AM Trade

Soybeans are showing mixed action early on Friday, with front months up 1 to 2 ½ cents and new crop fractionally lower. The soybean market was in sell mode on Thursday, with contracts down 18 to 24 cents...

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Wheat Falls Lower on Thursday

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KEK25 : 558-6 (+0.04%)
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ZWH25 : 539-2 (+0.33%)
ZWK25 : 551-0 (+0.27%)
Corn Pulls Back on Thursday

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Soybeans Collapse on Thursday, as South American Weather Turns Wetter

The soybean market was in sell mode on Thursday, with contracts down 18 to 24 cents in most nearby contracts at the close. CmdtyView’s national front month Cash Bean price was down 23 1/4 cents at $9.60...

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ZLH25 : 45.46 (+0.95%)
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ZCK25 : 492-2 (+1.92%)
Wheat Leaking Lower on Thursday

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 430.0
2nd Resistance Point 429.0
1st Resistance Point 428.6
Last Price 428.1s
1st Support Level 427.2
2nd Support Level 426.2
3rd Support Level 425.8

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52-Week High 498.0
Fibonacci 61.8% 450.3
Fibonacci 50% 435.5
Last Price 428.1s
Fibonacci 38.2% 420.8
52-Week Low 373.1

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