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Soybean Meal Dec '24 (ZMZ24)

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Soybean Meal Futures Market News and Commentary

Soybeans Collapse on Monday

Soybean bears came out of the weekend with a vengeance, as contracts fell 16 to 30 ¼ cents across the board. There was no assistance from the products this time, as Soymeal was down $4.50 to $11.10/ton across the board. Soy Oil was 5 to 62 points lower on the session.

The US soybean crop was reported at 34% blooming as of July 7, 6% above normal, a 9% were setting pods. NASS showed condition ratings at 68% gd/ex, up 1%, as the Brugler500 index was up 2 points to 371. Drier parts of the Corn Belt in the east are expected to receive beneficial rains this week as Beryl tracks through most of IL and IN. The west is expected to shift drier.

Monday morning’s Export Inspections report from USDA tallied 273,321 MT (10 mbu) of soybeans exported during the July 4th holiday week. That was a 3-year low for the week and down 14.5% from the week prior. Germany was the lead destination of 109,903 MT, as Mexico was next up at 31,234 MT and 30,944 MT headed to Japan. Year to date exports... 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
11/29/24 (143 days)
Expiration Date
12/13/24 (157 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jul 2, 2024

View Chart Details
Commercials - Long / Short
191,932 (+521)
285,825 (-7,161)
Non-Commercials - Long / Short
147,818 (-340)
71,185 (+13,008)
Producers - Long / Short
88,926 (+1,678)
276,836 (-6,696)
Swap Dealers - Long / Short
96,178 (-1,634)
2,161 (-942)
Managed Money - Long / Short
128,733 (-634)
53,887 (+13,050)
Other Reportables - Long / Short
19,085 (+294)
17,298 (-42)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
320.1 +0.09%
on 07/09/24
360.3 -11.07%
on 06/11/24
-35.1 (-9.87%)
since 06/07/24
3-Month
320.1 +0.09%
on 07/09/24
382.3 -16.19%
on 05/08/24
-21.7 (-6.34%)
since 04/09/24
52-Week
320.1 +0.09%
on 07/09/24
417.4 -23.24%
on 11/08/23
-43.1 (-11.86%)
since 07/07/23

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Most Recent Stories

More News
Cattle Markets fall to start the week on Weakness

Cattle bulls can't support futures as they break down hard on Monday

Soybeans Collapse on Monday

Soybean bears came out of the weekend with a vengeance, as contracts fell 16 to 30 ¼ cents across the board. There was no assistance from the products this time, as Soymeal was down $4.50 to $11.10/ton...

ZMZ24 : 320.4 (-0.31%)
ZLZ24 : 47.38 (-1.82%)
ZSN24 : 1174-2s (-1.20%)
ZSPAUS.CM : 11.1250 (+0.06%)
ZSQ24 : 1150-0 (+0.09%)
ZSX24 : 1094-4 (-0.45%)
ZSPX24US.CM : 10.3333 (-0.49%)
Wheat Starts the Weak with Sharp Losses

The wheat market ended the Monday session with double digit losses across the three exchanges. Chicago futures were down 10 ¼ to 20 cents on the day. Kansas City contracts fell 15 ¼ to 21 ¾ cents across...

ZWN24 : 553-0s (-3.36%)
ZWU24 : 571-4 (+0.18%)
KEN24 : 573-4s (-3.65%)
KEU24 : 579-2 (+0.35%)
MWN24 : 621-0s (unch)
Corn Falls to Kick off Week

Corn futures fell out of the gates on Monday, with front months down 12 ½ to 17 ¼ cents and deferred contracts losing 4 ½ to 9 ½ cents. Crop Progress data showed 24% of the corn crop as silking 10%...

ZCN24 : 395-6s (-3.77%)
ZCPAUS.CM : 3.8019 (-0.05%)
ZCU24 : 393-0 (-0.06%)
ZCZ24 : 407-4 (-0.06%)
ZCPZ24US.CM : 3.7757 (-0.07%)
Grain Spreads: No Weather Premium So Far

Cooler and Wetter Pressures Grains

Crop Progress

Crop Progress - 2024-07-08

ZSX24 : 1094-4 (-0.45%)
ZSPAUS.CM : 11.1250 (+0.06%)
ZSBAUS.CM : -0.3722 (+0.29%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 3,907s (-0.18%)
XTU24 : 4,700s (-0.34%)
ZCZ24 : 407-4 (-0.06%)
ZCPAUS.CM : 3.8019 (-0.05%)
ZCBAUS.CM : -0.1287 (+2.79%)
XVU24 : 2,465s (-0.28%)
XEU24 : 57.68 (+0.02%)
Shootin' the Bull about feeder basis going positive?

Hence, long way around the barn, but don't be surprised to see a greater than $8.00 positive basis form and potentially remain that way into the end of August.

Wheat Pressured Lower to Start Week

The wheat market is trading with double digit losses across the three exchanges on Monday, giving back the gains from the Friday session. Chicago futures are down 19 to 24 cents so far on the day. Kansas...

ZWN24 : 553-0s (-3.36%)
ZWU24 : 571-4 (+0.18%)
KEN24 : 573-4s (-3.65%)
KEU24 : 579-2 (+0.35%)
MWN24 : 621-0s (unch)
Soybeans in Freefall on Monday

Soybeans are posting 20 to 33 cent lower action as we trade through Monday’s midday. Bears took the Friday session off but are coming back with a vengeance today. Soymeal is down $8.00/ton in the August...

ZMZ24 : 320.4 (-0.31%)
ZLZ24 : 47.38 (-1.82%)
ZSN24 : 1174-2s (-1.20%)
ZSPAUS.CM : 11.1250 (+0.06%)
ZSQ24 : 1150-0 (+0.09%)
ZSX24 : 1094-4 (-0.45%)
ZSPX24US.CM : 10.3333 (-0.49%)
Corn Collapsing at Midday

Corn futures are falling 14 to 18 cents so far on the Monday session, as traders come back to a wetter ECB forecast. Preliminary open interest showed some net new buying, up 2,588 contracts. There were...

ZCN24 : 395-6s (-3.77%)
ZCPAUS.CM : 3.8019 (-0.05%)
ZCU24 : 393-0 (-0.06%)
ZCZ24 : 407-4 (-0.06%)
ZCPZ24US.CM : 3.7757 (-0.07%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 340.5
2nd Resistance Point 336.3
1st Resistance Point 328.9
Last Price 320.3
1st Support Level 317.3
2nd Support Level 313.1
3rd Support Level 305.7

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52-Week High 417.4
Fibonacci 61.8% 380.2
Fibonacci 50% 368.8
Fibonacci 38.2% 357.3
Last Price 320.2
52-Week Low 320.1

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