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Soybean Meal May '24 (ZMK24)

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Soybean Meal Futures Market News and Commentary

Soybeans Rallying on Friday

Soybeans are trading with midday gains to round out the week. Contracts are up 2 to 9 ½ cents across most contract on Friday. Soymeal futures are mixed, with front months up 40 cents/ton. Soy Oil is posting gains of 77 to 83 points at midday.

Weekly Export Sales data tallied soybean bookings at just 265,733 MT, below the trade range of estimates. That was a 3-week low and down 38% from the week prior. Egypt purchased 90,400 MT, with Indonesia in for 87,900 MT and Mexico buying 86,600 MT. USDA also reported new crop sales at 25,160 MT, mostly to Taiwan, as China has yet to lock in any new crop sales. 

Soybean meal sales totaled 300,445 MT for the current MY and 31,110 MT for the 24/25 MY, as total sales snuck into the trade range of estimates. Bean oil sales were 9,114 MT for the current MY, as 24/25 sales were 962 MT. 

The Buenos Aires Grain Exchange pegged the Argentina soybean crop at 24% gd/ex, down 3% on the week. The harvest was 64% complete, as BAGE also trim... 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
$2,090/1,900
First Notice Date
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
182,605 (-9,068)
278,010 (+37,229)
Non-Commercials - Long / Short
139,373 (+8,633)
65,403 (-33,218)
Producers - Long / Short
89,745 (-9,870)
269,224 (+34,275)
Swap Dealers - Long / Short
88,423 (-132)
4,349 (+2,020)
Managed Money - Long / Short
121,799 (+9,538)
31,823 (-33,753)
Other Reportables - Long / Short
17,574 (-905)
33,580 (+535)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
335.2 +8.47%
on 04/16/24
381.9 -4.79%
on 05/07/24
+19.2 (+5.57%)
since 04/12/24
3-Month
323.2 +12.50%
on 02/29/24
381.9 -4.79%
on 05/07/24
+27.1 (+8.05%)
since 02/14/24
52-Week
323.2 +12.50%
on 02/29/24
435.9 -16.59%
on 11/08/23
-15.5 (-4.09%)
since 05/12/23

More Soybean Meal Quotes

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Most Recent Stories

More News
Soybeans Rallying on Friday

Soybeans are trading with midday gains to round out the week. Contracts are up 2 to 9 ½ cents across most contract on Friday. Soymeal futures are mixed, with front months up 40 cents/ton. Soy Oil is posting...

ZMN24 : 368.8s (+0.30%)
ZLN24 : 45.27s (+1.68%)
ZSN24 : 1228-0s (+0.97%)
ZSPAUS.CM : 11.6613 (+1.06%)
ZSQ24 : 1225-2s (+0.70%)
ZSX24 : 1203-2s (+0.35%)
ZSPX24US.CM : 11.4157 (+0.38%)
Wheat Continues Pattern of Fading Overnight Gains for Midday Weakness

The wheat complex is posting midday weakness again on Friday. Chicago contracts are down 7 to 12 cents across most contracts. Kansas City futures are trading with losses of 8 to 13 cents in most months....

ZWN24 : 651-2s (-1.81%)
ZWU24 : 672-0s (-1.68%)
KEN24 : 661-6s (-1.71%)
KEU24 : 675-4s (-1.67%)
MWN24 : 711-4s (-1.28%)
Corn Round Out the Week with Midday Friday Weakness

Corn is posting losses of 1 to 5 ½ cent across most contracts on Friday, closing out the week with weakness. Weather through the weekend shows much of the WCB drier, with portions of the ECB shifting...

ZCN24 : 452-4s (-0.98%)
ZCPAUS.CM : 4.2836 (-1.05%)
ZCU24 : 462-4s (-1.12%)
ZCZ24 : 476-4s (-1.09%)
ZCPZ24US.CM : 4.4656 (-1.23%)
European Commodities: Cocoa Prices Are Crashing, But Not on Fundamentals

UK natural gas fell this week, but remains stuck in a range, while corn is trending higher on lower volatility. Meanwhile, traders can expect the cocoa market to stay unpredictable for now, with record-low...

CAN24 : 6,121s (-1.73%)
XBM24 : 213.50s (unch)
P0Y00 : 10,424.00s (+2.01%)
P8Y00 : 19,797.00s (+1.58%)
SWQ24 : 534.70s (-0.28%)
NFM24 : 74.360s (+1.82%)
RMN24 : 3,518s (+2.87%)
Coca-Cola Stock: Is Wall Street Bullish or Bearish?

Coca-Cola has significantly underperformed the broader market over the past year, yet Wall Street analysts are still bullish about the stock’s prospects.

KO : 63.11 (-0.33%)
$SPX : 5,299.18 (+0.04%)
XLP : 78.19 (-0.27%)
Can Grain Futures Prices Rally ahead of the Weekend?

Grain futures prices are higher in the early morning trade, will we see that rally continue through today’s trade and into the weekend on the back of weather uncertainty?

Wheat Reverting Back to Higher After Overnight Trade

The wheat complex is trading with strength on your Friday morning. They found weakness again on Thursday, quickly fading the early session gains. Chicago contracts were down 2 to 3 cents across most contracts....

ZWN24 : 651-2s (-1.81%)
ZWU24 : 672-0s (-1.68%)
KEN24 : 661-6s (-1.71%)
KEU24 : 675-4s (-1.67%)
MWN24 : 711-4s (-1.28%)
Corn Round Out Friday Morning With Gains

Corn is trading fractionally to 1 ¼ cents higher as we start the final session of the week. Futures ended Thursday with similar action to Wednesday, fading the early session gains. Contracts closed with...

ZCN24 : 452-4s (-0.98%)
ZCPAUS.CM : 4.2836 (-1.05%)
ZCU24 : 462-4s (-1.12%)
ZCZ24 : 476-4s (-1.09%)
ZCPZ24US.CM : 4.4656 (-1.23%)
Soybeans Rallying on Friday Morning

Soybeans are posting higher trade on Friday morning, with contracts up 8 to 11 cents. Futures contracts for beans were up ½ 5o 2 ¾ cents in the front two months and down 1 to 3 ¾ cents in the tother...

ZMN24 : 368.8s (+0.30%)
ZLN24 : 45.27s (+1.68%)
ZSN24 : 1228-0s (+0.97%)
ZSPAUS.CM : 11.6613 (+1.06%)
ZSQ24 : 1225-2s (+0.70%)
ZSX24 : 1203-2s (+0.35%)
ZSPX24US.CM : 11.4157 (+0.38%)
Soybeans, Hanging In There And What Matters

The rally in Soybeans started from a 61.8% retracement on the continuation chart at 1138.00.

ZSN24 : 1228-0s (+0.97%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 364.7
2nd Resistance Point 364.1
1st Resistance Point 363.9
Last Price 363.6s
1st Support Level 363.1
2nd Support Level 362.5
3rd Support Level 362.3

See More

52-Week High 435.9
Fibonacci 61.8% 392.8
Fibonacci 50% 379.5
Fibonacci 38.2% 366.3
Last Price 363.6s
52-Week Low 323.2

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