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Soybean Meal Dec '24 (ZMZ24)

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Soybean Meal Futures Market News and Commentary

Soybeans Pull Out Gains on Wednesday Despite Product Weakness

Soybeans settled Wednesday with contracts up anywhere from 1 ¼ to 4 cents. CmdtyView’s national front month Cash Bean price was up 4 1/4 cents at $9.57 1/4. Soymeal was down a dime to $1.80/ton on the day. Soy Oil futures were steady to down 11 points on the day. 

Export sales data will be released on Thursday morning, with the trade looking for 0.8 to 1.7 MMT in soybean export sales for 24/25. For soybean meal, traders estimate 100,000 to 400,000 MT in the week of 10/3, with 0 to 20,000 MT for bean oil.

Crop Production estimates via a Bloomberg survey of analysts show soybean yield at 53.2 bpa, which would be unchanged from the September (and August) reports. Production is seen at 4.582 billion bushels.

Nov 24 Soybeans  closed at $10.20 1/4, up 4 cents,

Nearby Cash  was $9.57 1/4, up 4 1/4 cents,

Jan 25 Soybeans  closed at $10.37, up 2 1/2 cents,

May 25 Soybeans  closed at $10.65 1/2, up 1 3/4 cents,

On the date of publication, Aust... 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
$2,200/2,000
First Notice Date
11/29/24 (51 days)
Expiration Date
12/13/24 (65 days)

Seasonal Chart

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

Commitment of Traders Positions as of Oct 1, 2024

View Chart Details
Commercials - Long / Short
217,905 (-14,628)
349,899 (+30,969)
Non-Commercials - Long / Short
163,056 (+27,107)
59,034 (-14,036)
Producers - Long / Short
93,712 (-17,651)
327,982 (+26,649)
Swap Dealers - Long / Short
106,144 (+454)
3,868 (+1,751)
Managed Money - Long / Short
143,403 (+27,255)
40,136 (-16,915)
Other Reportables - Long / Short
19,653 (-148)
18,898 (+2,879)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
315.7 +2.09%
on 09/20/24
351.6 -8.33%
on 10/01/24
+4.8 (+1.51%)
since 09/10/24
3-Month
298.5 +7.97%
on 08/14/24
351.6 -8.33%
on 10/01/24
+5.9 (+1.86%)
since 07/10/24
52-Week
298.5 +7.97%
on 08/14/24
417.4 -22.78%
on 11/08/23
-46.5 (-12.61%)
since 10/10/23

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ZCPAUS.CM : 3.8813 (+0.02%)
ZCZ24 : 422-4 (+0.36%)
ZCZ24 : 422-4 (+0.36%)
ZCH25 : 439-6 (+0.40%)
Wheat Extends Gains into Wednesday’s Close

The wheat complex posted Wednesday gains across the three markets at the close. Chicago SRW futures were up ½ to 4 ¼ cents on the day. KC HRW contracts saw 3 ½ to 5 cent gains on the session. MPLS spring...

KEH25 : 632-6 (+1.24%)
MWZ24 : 654-4 (+0.96%)
KEZ24 : 617-2 (+1.40%)
ZWZ24 : 608-6 (+1.63%)
ZWH25 : 631-2 (+1.45%)
Soybeans Pull Out Gains on Wednesday Despite Product Weakness

Soybeans settled Wednesday with contracts up anywhere from 1 ¼ to 4 cents. CmdtyView’s national front month Cash Bean price was up 4 1/4 cents at $9.57 1/4. Soymeal was down a dime to $1.80/ton on...

ZLZ24 : 43.22 (+0.37%)
ZMZ24 : 321.2 (unch)
ZSPAUS.CM : 9.5731 (+0.46%)
ZSX24 : 1022-6 (+0.25%)
ZSX24 : 1022-6 (+0.25%)
ZSF25 : 1039-4 (+0.24%)
Grain Spreads: WASDE Report & Wheat Outlook

Corn, Beans, Wheat Examined

Shootin' the Bull about definitive price action.

Price action today is weighted as definitive.  Fats posted an outside reversal and dark shadow on the candlestick charts.

Wheat Extending Gains on Wednesday

The wheat complex is showing Wednesday gains across the three exchanges at midday. Chicago SRW futures are up 3 to 4 cents on the day. KC HRW contracts are posting 4 to 5 cent gains on the session. MPLS...

KEH25 : 632-6 (+1.24%)
MWZ24 : 654-4 (+0.96%)
KEZ24 : 617-2 (+1.40%)
ZWZ24 : 608-6 (+1.63%)
ZWH25 : 631-2 (+1.45%)
Soybeans Reverting Higher at Wednesday’s Midday

Soybeans are showing 3 to 6 cent gains so far on Wednesday. CmdtyView’s national front month Cash Bean price is up 5 1/2 cents at $9.58 1/2. Soymeal is down 80 cents/ton on the day. Soy Oil futures...

ZLZ24 : 43.22 (+0.37%)
ZMZ24 : 321.2 (unch)
ZSPAUS.CM : 9.5731 (+0.46%)
ZSX24 : 1022-6 (+0.25%)
ZSX24 : 1022-6 (+0.25%)
ZSF25 : 1039-4 (+0.24%)
Corn Eking Out Gains on Wednesday

Corn futures are showing fractional gains across the front months as we trade through Wednesday’s midday. The national average Cash Corn price from cmdtyView is up 1/2 cent at $3.89 3/4 per bu. USDA...

ZCPAUS.CM : 3.8813 (+0.02%)
ZCZ24 : 422-4 (+0.36%)
ZCZ24 : 422-4 (+0.36%)
ZCH25 : 439-6 (+0.40%)
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Noncommercial traders in the Grains sector have been moving to the sidelines. We'll see if the various markets provide a fundamental reason for funds to eventually go net-long futures.

IWY00 : 528.80s (+0.91%)
ZCZ24 : 422-4 (+0.36%)
IPY00 : 603.01s (+0.58%)
IHY00 : 549.18s (+0.90%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 332.5
2nd Resistance Point 329.7
1st Resistance Point 325.5
Last Price 321.2
1st Support Level 318.5
2nd Support Level 315.7
3rd Support Level 311.5

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52-Week High 417.4
Fibonacci 61.8% 372.0
Fibonacci 50% 358.0
Fibonacci 38.2% 343.9
Last Price 321.2
52-Week Low 298.5

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