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Soybean Meal Jul '23 (ZMN23)
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Soybean Meal Futures Market News and Commentary

Mixed Day in Bean Market

The soybean futures are working both directions within 5 cents of UNCH so far. The nearby contracts are fractionally to 1 ¼ cents in the black, while the deferred months are 4 ¼ cents weaker. Soymeal futures are bouncing through Wednesday, with a $4 recovery in October. Dec meal is up by 70 cents/ton. Soybean Oil futures are working with 56 to 62 point gains through midday. 

Refinitiv estimated Malaysian palm oil output at 18.4 MMT for 22/23, with 50.7 MMT for Indonesia. The initial 23/24 outlook will be released in their next update. 

Strategie Grains increased their Europe rapeseed production forecast by 600k MT to 19.5 MMT. 

 

Nov 23 Soybeans  are at $12.74, up 1 1/4 cents,

Nearby Cash   is at $12.10 3/4, up 1 3/4 cents,

Jan 24 Soybeans  are at $12.93 1/4, up 1 1/4 cents,

Mar 24 Soybeans  are at $13.08 1/4, up 3/4 cent,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securi... 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
$2,970/2,700
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 26, 2023

View Chart Details
Commercials - Long / Short
202,354 (+1,987)
303,497 (+66)
Non-Commercials - Long / Short
106,584 (+2,130)
22,040 (+4,798)
Producers - Long / Short
100,604 (-779)
294,475 (-2,980)
Swap Dealers - Long / Short
93,773 (+541)
1,045 (+821)
Managed Money - Long / Short
74,328 (+5,372)
13,243 (+292)
Other Reportables - Long / Short
32,256 (-3,242)
8,797 (+4,506)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
386.5 +11.25%
on 06/15/23
441.2 -2.54%
on 06/21/23
+40.3 (+10.34%)
since 06/14/23
3-Month
386.3 +11.31%
on 05/31/23
468.2 -8.16%
on 04/18/23
-26.8 (-5.87%)
since 04/14/23
52-Week
372.8 +15.34%
on 07/22/22
486.9 -11.69%
on 03/07/23
+38.0 (+9.69%)
since 07/14/22

More Soybean Meal Quotes

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Most Recent Stories

More News
Mixed Day in Bean Market

The soybean futures are working both directions within 5 cents of UNCH so far. The nearby contracts are fractionally to 1 ¼ cents in the black, while the deferred months are 4 ¼ cents weaker. Soymeal...

ZMZ23 : 372.0s (+0.08%)
ZLZ23 : 55.99s (-2.00%)
ZSX23 : 1273-0s (unch)
ZSPAUS.CM : 12.0845 (+0.04%)
ZSF24 : 1292-2s (unch)
ZSH24 : 1307-2s (unch)
Wheat Back to Sliding Lower So Far

The wheat market is currently back in the red after a bounce on Tuesday. CBT SRW futures are 5 to 6 ¼ cents in the red. KC HRW is trading down by as much as 1.6% through midday. MGE HRS futures are down...

ZWZ23 : 560-0s (-1.50%)
ZWH24 : 589-0s (-1.46%)
ZWPAES.CM : 4.7606 (-1.75%)
KEZ23 : 666-4s (-2.45%)
KEPAWS.CM : 6.0402 (-2.63%)
MWZ23 : 711-6s (-1.90%)
Midweek Corn Trading Both Sides

The corn futures are fractionally mixed through the Wednesday’s midday. The Dec contract has seen a 7 ¼ cent range so far. Weekly EIA data showed ethanol producers averaged 1.009m barrels per day through...

ZCZ23 : 486-0s (-0.31%)
ZCPAUS.CM : 4.5176 (-0.25%)
ZCH24 : 501-0s (-0.25%)
ZCK24 : 509-4s (-0.20%)
Sugar corrects with Crude Oil back to a Neutral Trend.

Sugar corrects with Crude Oil back to a Neutral Trend.These are the levels we are watching to determine the next trend

AM Drop in Corn Market

Front month corn prices are down ¾ to 1 ½ cents into the day trade, after falling from 2c gains overnight. Corn futures ended the Tuesday session with 1 ¼ to 2 ¾ cent losses. Dec is still at a 10c...

ZCZ23 : 486-0s (-0.31%)
ZCPAUS.CM : 4.5176 (-0.25%)
ZCH24 : 501-0s (-0.25%)
ZCK24 : 509-4s (-0.20%)
Beans Bouncing Back on Wednesday

Front month soy futures are trading with 1 ¾ to 7 cent gains in the beans, and a $4 recovery in meal this morning. Soybean futures fell by 0.3% to 0.4% on Tuesday. November was down a net 2 ¼ cents after...

ZMZ23 : 372.0s (+0.08%)
ZLZ23 : 55.99s (-2.00%)
ZSX23 : 1273-0s (unch)
ZSPAUS.CM : 12.0845 (+0.04%)
ZSF24 : 1292-2s (unch)
ZSH24 : 1307-2s (unch)
Wheat Giving Back Gains on Wednesday

Wheat backing off so far on Wednesday, led by a dime pullback in Dec SRW. Chicago futures ended the session with ¾ to 3 ¾ cent gains on Tuesday. KC HRW futures closed the day 5 to 6 ½ cent gains. MGE...

ZWZ23 : 560-0s (-1.50%)
ZWH24 : 589-0s (-1.46%)
ZWPAES.CM : 4.7606 (-1.75%)
KEZ23 : 666-4s (-2.45%)
KEPAWS.CM : 6.0402 (-2.63%)
MWZ23 : 711-6s (-1.90%)
Shootin' the Bull about from shifting to avalanche

It started as a shift, and is now believed an avalanche.  Consumer demand is drying up.  Packers are going to continue to keep slaughter rates at levels beneficial to them.  This leaves the cattle feeder,...

Tuesday Losses in Soy Futures

Soybean futures fell by 0.3% to 0.4% on Tuesday. That has Nov set at as 2 ¼ cent loss for the week’s move. Soymeal futures ended with $1.70 to $4.40 losses, leaving the October contract at the lowest...

ZMZ23 : 372.0s (+0.08%)
ZLZ23 : 55.99s (-2.00%)
ZSX23 : 1273-0s (unch)
ZSPAUS.CM : 12.0845 (+0.04%)
ZSF24 : 1292-2s (unch)
ZSH24 : 1307-2s (unch)
Wheat Futures Closed with Tuesday Gains

Chicago futures ended the session with ¾ to 3 ¾ cent gains on Tuesday. KC HRW futures closed the day 5 to 6 ½ cent gains. MGE futures closed up by 2 ½ to 6 ¾ cents. USDA reported a large private...

ZWZ23 : 560-0s (-1.50%)
ZWH24 : 589-0s (-1.46%)
ZWPAES.CM : 4.7606 (-1.75%)
KEZ23 : 666-4s (-2.45%)
KEPAWS.CM : 6.0402 (-2.63%)
MWZ23 : 711-6s (-1.90%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 434.3
2nd Resistance Point 432.1
1st Resistance Point 431.1
Last Price 430.0s
1st Support Level 427.9
2nd Support Level 425.7
3rd Support Level 424.7

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52-Week High 486.9
Fibonacci 61.8% 443.3
Last Price 430.0s
Fibonacci 50% 429.8
Fibonacci 38.2% 416.4
52-Week Low 372.8

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