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Soybean Nov '23 (ZSX23)

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Soybean Futures Market News and Commentary

Beans Pressured by Products Amid Lower Bean Oil Inclusion Rates

Soybeans posted double digit losses on Tuesday, with contracts down 15 ¼ to 19 ¾ cents across the board. Soymeal was down $1.80 to $3/ton at the close. Soy Oil was in freefall mode, down another 69 to 140 points and hitting new contract lows. 

EIA reported that just 888 million lbs of bean oil was used in biodiesel production in February. That was down from 960 million lbs in January and was the lowest monthly use total since December 2022. Meanwhile, tallow and yellow grease inclusion has been rising for the last several months. As for bean oil stocks at the end of March, the trade is estimating 2.294 billion lbs. Traders are also expecting soy crush during March at 205.97 mbu ahead of tomorrow afternoon’s USDA report.

On Tuesday, the Biden administration released its guidance on SAF feedstock, allowing soy-based biodiesel to qualify only if producers use practices such as no-till and cover cropping. 

Across the US, only ND had no reported planting pace, which is... 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
$2,640/2,400
First Notice Date
10/31/23
Expiration Date
11/14/23 (expired)

Seasonal Chart

Soybean Nov '23
Average Price Chart for 5 Prior Nov Contracts

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
479,373 (-23,659)
320,051 (-3,263)
Non-Commercials - Long / Short
96,430 (+2,012)
251,000 (-15,311)
Producers - Long / Short
331,932 (-20,540)
298,760 (-6,913)
Swap Dealers - Long / Short
130,873 (-3,397)
4,723 (+3,372)
Managed Money - Long / Short
50,620 (+4,761)
189,298 (-12,253)
Other Reportables - Long / Short
45,810 (-2,749)
61,702 (-3,058)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1276-0 +7.27%
on 10/31/23
1372-0 -0.24%
on 11/14/23
+88-4 (+6.91%)
since 10/13/23
3-Month
1250-4 +9.46%
on 10/12/23
1409-4 -2.89%
on 08/28/23
+42-6 (+3.22%)
since 08/14/23
52-Week
1130-4 +21.07%
on 05/31/23
1435-0 -4.62%
on 07/24/23
-13-4 (-0.98%)
since 11/14/22

More Soybean Quotes

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Most Recent Stories

More News
Beans Pressured by Products Amid Lower Bean Oil Inclusion Rates

Soybeans posted double digit losses on Tuesday, with contracts down 15 ¼ to 19 ¾ cents across the board. Soymeal was down $1.80 to $3/ton at the close. Soy Oil was in freefall mode, down another 69 to...

ZMN24 : 351.9s (-0.68%)
ZLN24 : 43.01s (-3.07%)
ZSK24 : 1145-4s (-1.31%)
ZSPAUS.CM : 11.0072 (-1.13%)
ZSN24 : 1163-0s (-1.61%)
ZSX24 : 1159-4s (-1.57%)
ZSPX24US.CM : 10.9896 (-1.66%)
Wheat Falls into Month End

The wheat market fell flat into month end on Tuesday. Kansas City led the way with losses of 6 to 15 ¼ cents and in delivery May down 21. Chicago contracts were down 3 to 7 ¼ cents across the nearbys...

ZWK24 : 585-0s (-0.89%)
ZWN24 : 603-2s (-0.86%)
KEK24 : 622-6s (-3.26%)
KEN24 : 635-2s (-2.34%)
MWK24 : 710-2s (-0.70%)
Corn Closes Lower Ahead of SAF Announcement

Corn futures closed out the Tuesday session with most contracts fractionally to 3 ¼ cents lower and May up ¼ cent. On Tuesday, the Biden administration released its guidance on SAF feedstock, allowing...

ZCK24 : 439-4s (+0.06%)
ZCPAUS.CM : 4.2699 (+0.41%)
ZCN24 : 446-6s (-0.56%)
ZCZ24 : 469-4s (-0.69%)
ZCPZ24US.CM : 4.3997 (-0.36%)
Shootin' the Bull about bird flu or no margins.

A great deal transpired today.  Whether you believe the price decline an aspect of the bird flu, or like me, believe that with no margin and fewer aspects of trading higher, there is no reason to pay...

Agricultural Prices

Agricultural Prices - 2024-04-30

ZSN24 : 1163-0s (-1.61%)
ZSPAUS.CM : 11.0072 (-1.13%)
ZSBAUS.CM : -0.4477 (+5.73%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 3,949s (+0.23%)
XTN24 : 4,661s (+0.43%)
ZCN24 : 446-6s (-0.56%)
ZCPAUS.CM : 4.2699 (+0.41%)
ZCBAUS.CM : -0.1251 (+10.71%)
XVN24 : 2,386s (-0.04%)
XEU24 : 59.56 (-0.02%)
Corn Pulled Lower on Tuesday

Corn Futures are slipping lower on Tuesday’s midday, as contracts are down 1 ¾ to 5 cents across much of the front month action. Tuesday is first notice data for May corn futures, with no deliveries...

ZCK24 : 439-4s (+0.06%)
ZCPAUS.CM : 4.2699 (+0.41%)
ZCN24 : 446-6s (-0.56%)
ZCZ24 : 469-4s (-0.69%)
ZCPZ24US.CM : 4.3997 (-0.36%)
Bean Oil Pressuring Soy Complex Lower as Inclusion Rates Fall

Soybeans are posting double digit weakness on Tuesday, with pressure coming from the product values. Soybean futures price limits are going to trimmed by a dime to 85 cents on Wednesday, with the CME....

ZMN24 : 351.9s (-0.68%)
ZLN24 : 43.01s (-3.07%)
ZSK24 : 1145-4s (-1.31%)
ZSPAUS.CM : 11.0072 (-1.13%)
ZSN24 : 1163-0s (-1.61%)
ZSX24 : 1159-4s (-1.57%)
ZSPX24US.CM : 10.9896 (-1.66%)
Wheat Falling on Tuesday

The wheat market is facing pressure at midday. Kansas City futures are leading the way lower, with losses of 12 to 18 ¾ cents. Chicago contracts are down 4 to 10 cents at midday. MPLS spring wheat is...

ZWK24 : 585-0s (-0.89%)
ZWN24 : 603-2s (-0.86%)
KEK24 : 622-6s (-3.26%)
KEN24 : 635-2s (-2.34%)
MWK24 : 710-2s (-0.70%)
Corn Down on Tuesday Morning

Overnight trade has corn showing fractional to 2 cent losses this morning. Corn futures ended the Monday session fractionally to 1 ¼ cents lower across most contracts. Tuesday is first notice data for...

ZCK24 : 439-4s (+0.06%)
ZCPAUS.CM : 4.2699 (+0.41%)
ZCN24 : 446-6s (-0.56%)
ZCZ24 : 469-4s (-0.69%)
ZCPZ24US.CM : 4.3997 (-0.36%)
Wheat Extends Pullback to Tuesday Morning

The wheat market is showing weakness again on Tuesday after a round of overnight trade. Futures backed off in the winter wheat contracts to start off the week. Chicago contracts were down 4 ½ to 13 ¾...

ZWK24 : 585-0s (-0.89%)
ZWN24 : 603-2s (-0.86%)
KEK24 : 622-6s (-3.26%)
KEN24 : 635-2s (-2.34%)
MWK24 : 710-2s (-0.70%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1387-7
2nd Resistance Point 1379-7
1st Resistance Point 1374-3
Last Price 1368-6s
1st Support Level 1360-7
2nd Support Level 1352-7
3rd Support Level 1347-3

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52-Week High 1435-0
Last Price 1368-6s
Fibonacci 61.8% 1318-5
Fibonacci 50% 1282-6
Fibonacci 38.2% 1246-7
52-Week Low 1130-4

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