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Soybean May '24 (ZSK24)
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Soybean Futures Market News and Commentary

Beans Spike Below $13, Stay Above for the Close

The Friday soybean trade settled with prices 4 to 7 ¾ cents in the red. The Jan contract spiked below the $13 round number after the report, but futures closed back above the mark. Jan beans printed a wide 31 ¾ cent range on the day, and finished out the week with a net 21 cent loss. Soymeal futures ended the Friday session $1.80 to $2.10 weaker, with Jan down by $8 for the week. Soybean Oil futures traded lower into the weekend with 80 to 96 point losses on Friday. That pushed the Jan contract’s weekly loss to 125 points. USDA left the average soybean cash price at $12.90 for soybeans, but had meal$10/ton higher at $390 and soy oil 4 cents weaker at 57 c/lb. 

The weekly CoT data showed soybean spec traders were dropping soybean longs during the week that ended 12/5. That left the group 31k contracts less net long at 36,633. Commercial soybean hedgers were closing short hedges during the week, reducing their net short to 116,207 contracts. 

The daily reporting system sho... Read more

Contract Specifications

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Contract
Soybean
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 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
$50
Margin/Maintenance
$3,300/3,000
First Notice Date
04/30/24 (141 days)
Expiration Date
05/14/24 (155 days)

Seasonal Chart

Soybean May '24
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Dec 5, 2023

View Chart Details
Commercials - Long / Short
399,901 (+1,867)
402,862 (-25,566)
Non-Commercials - Long / Short
116,761 (-21,627)
96,463 (+8,772)
Producers - Long / Short
262,948 (-1,209)
372,629 (-22,390)
Swap Dealers - Long / Short
123,461 (+2,773)
16,741 (-3,479)
Managed Money - Long / Short
89,877 (-22,401)
52,145 (+11,018)
Other Reportables - Long / Short
26,884 (+774)
44,318 (-2,246)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1326-4 +1.34%
on 12/07/23
1419-6 -5.32%
on 11/15/23
-27-2 (-1.99%)
since 11/10/23
3-Month
1295-2 +3.78%
on 10/11/23
1419-6 -5.32%
on 11/15/23
-51-0 (-3.66%)
since 09/11/23
52-Week
1150-6 +16.82%
on 05/31/23
1420-6 -5.38%
on 07/24/23
-48-0 (-3.45%)
since 12/09/22

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ZWZ23 : 615-0s (-1.76%)
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Beans Spike Below $13, Stay Above for the Close

The Friday soybean trade settled with prices 4 to 7 ¾ cents in the red. The Jan contract spiked below the $13 round number after the report, but futures closed back above the mark. Jan beans printed a...

ZMF24 : 406.8 (+0.52%)
ZLF24 : 50.47 (+0.54%)
ZSF24 : 1311-2 (+0.56%)
ZSPAUS.CM : 12.4837 (-0.59%)
ZSH24 : 1330-6 (+0.59%)
ZSK24 : 1344-2 (+0.52%)
Wheats Faded into the Weekend

After a week of buying into the data release and seeing a mostly bull-friendly update, wheat futures pulled back into the weekend. Chicago futures went home 9 to 11 cents in the red, but still 29 cents...

ZWZ23 : 615-0s (-1.76%)
ZWH24 : 627-4 (-0.67%)
KEZ23 : 655-6s (-0.98%)
MWZ23 : 712-6s (unch)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1382-3
2nd Resistance Point 1371-5
1st Resistance Point 1354-3
Last Price 1344-2
1st Support Level 1326-3
2nd Support Level 1315-5
3rd Support Level 1298-3

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52-Week High 1420-6
Last Price 1344-2
Fibonacci 61.8% 1317-5
Fibonacci 50% 1285-6
Fibonacci 38.2% 1253-7
52-Week Low 1150-6

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