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Soybean Meal Jan '24 (ZMF24)

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Soybean Meal Futures Market News and Commentary

Soybeans Push Higher on Friday

Soybean bulls were gaining ground ahead of the weekend meeting with the US and China, as contracts were up 5 to 8 cents. July slipped back 6 ¼ cents on the week, with November unchanged.  The cmdtyView Cash Bean price was up 6 3/4 cents to $10.00 1/4. Soymeal futures mixed, up 60 cents in some deferreds to 60 cents lower in the nearbys, as July was down $2.80 this week. Soy Oil futures were up 12 to 29 points at the close, with July slipped 86 points on the week.

A total of 120,000 MT of soybeans were sold in a private export deal reported by the USDA to Pakistan for 2025/26.

CFTC data showed managed money cutting 16,332 contracts from their net long position in soybean futures and options to just 21,870 contracts by Tuesday. In soybean meal futures and options, they were a record net short at 103,457 contracts.

USDA Export Sales data now has total soybean shipped and unshipped sales at 47.72 MMT, which is 13% larger yr/yr. That is 96% of USDA’s current forecast, v... 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
12/29/23
Expiration Date
01/12/24 (expired)

Seasonal Chart

Soybean Meal Jan '24
Average Price Chart for 5 Prior Jan Contracts

Commitment of Traders Positions as of May 6, 2025

View Chart Details
Commercials - Long / Short
285,863 (+6,749)
251,951 (+8,383)
Non-Commercials - Long / Short
119,134 (+6,883)
173,089 (+7,104)
Producers - Long / Short
167,069 (+4,375)
237,152 (+7,423)
Swap Dealers - Long / Short
106,346 (+1,185)
2,351 (-229)
Managed Money - Long / Short
61,674 (+3,678)
160,195 (+7,878)
Other Reportables - Long / Short
57,460 (+3,205)
12,894 (-774)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
351.3 unch
on 01/12/24
413.5 -15.04%
on 12/18/23
-59.0 (-14.38%)
since 12/12/23
3-Month
351.3 unch
on 01/12/24
460.6 -23.73%
on 11/15/23
-37.9 (-9.74%)
since 10/12/23
52-Week
351.3 unch
on 01/12/24
460.6 -23.73%
on 11/15/23
-56.7 (-13.90%)
since 01/12/23

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UNG : 18.98 (+5.04%)
BOIL : 69.56 (+7.66%)
KEN25 : 517-4s (-1.38%)
CORN : 18.24 (+0.44%)
CTN25 : 66.61s (-0.12%)
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ZCN25 : 449-6s (+0.50%)
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ZCPZ25US.CM : 4.0849 (+0.82%)
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Wheat Falls into the Weekend

The wheat market failed to join in on the corn and bean strength on Friday, with contracts falling lower. Chicago SRW futures posted Friday losses of 7 to 8 cents on the day, as July was down 21 ¼ cents...

KEN25 : 517-4s (-1.38%)
KEK25 : 506-4s (-1.41%)
MWK25 : 616-4s (unch)
ZWK25 : 505-4s (-1.46%)
ZWN25 : 521-6s (-1.42%)
Soybeans Push Higher on Friday

Soybean bulls were gaining ground ahead of the weekend meeting with the US and China, as contracts were up 5 to 8 cents. July slipped back 6 ¼ cents on the week, with November unchanged. The cmdtyView...

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ZSK25 : 1044-0s (+0.70%)
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Wheat Falling at Midday

The wheat market is trading with losses at Friday’s midday. Chicago SRW futures are trading with 5 to 6 cent losses in the front months on Friday. Kansas City HRW futures are facing midday weakness,...

KEN25 : 517-4s (-1.38%)
KEK25 : 506-4s (-1.41%)
MWK25 : 616-4s (unch)
ZWK25 : 505-4s (-1.46%)
ZWN25 : 521-6s (-1.42%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 368.8
2nd Resistance Point 365.3
1st Resistance Point 358.3
Last Price 351.3s
1st Support Level 347.8
2nd Support Level 344.3
3rd Support Level 337.3

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52-Week High 460.6
Fibonacci 61.8% 418.8
Fibonacci 50% 406.0
Fibonacci 38.2% 393.1
Last Price 351.3s
52-Week Low 351.3

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