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Soybean Aug '23 (ZSQ23)

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Soybean Futures Market News and Commentary

Soybeans Get Assistance with Meal Rally

Soybean futures saw some spreading on Thursday with August up just a nickel ahead of Friday’s options expiration. All other contracts were up 14 to 16 ½ cents on the day. Soymeal futures got a positive export sales report, with closing price action up $5.50 to $9/ton.  Soy Oil futures were down 9 to 21 points in the nearbys, with October and beyond up 1 to 27 points. 

A private export sale of 264,000 MT of soybeans was reported by USDA this morning to unknown destinations for 2024/25 shipment.

USDA’s Export Sales report was released this morning, with sales for 2023/24 at a 21-week low of just 88,649 MT, which was also below estimates running 100,000 to 400,000 MT. Sales for the new crop marketing year were on the high end of the 500,000 to 900,000 MT range at a MY high of 829,675 MT in the week ending 7/18, with 723,100 MT sold to unknown destinations.

Soybean meal sales were on the high end of the trade estimates, with 2023/24 sales at an 8-week high of 258,117 M... 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
07/31/23
Expiration Date
08/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jul 16, 2024

View Chart Details
Commercials - Long / Short
496,310 (+5,404)
322,900 (-7,324)
Non-Commercials - Long / Short
135,252 (+10,895)
296,755 (+22,248)
Producers - Long / Short
340,045 (+8,410)
292,533 (-9,644)
Swap Dealers - Long / Short
130,382 (-6,742)
4,484 (-1,416)
Managed Money - Long / Short
60,560 (-121)
243,705 (+20,221)
Other Reportables - Long / Short
74,692 (+11,016)
53,050 (+2,027)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1353-2 +2.79%
on 08/11/23
1580-6 -12.00%
on 07/27/23
-89-2 (-6.03%)
since 07/14/23
3-Month
1193-2 +16.57%
on 05/31/23
1580-6 -12.00%
on 07/27/23
+72-6 (+5.52%)
since 05/12/23
52-Week
1193-2 +16.57%
on 05/31/23
1580-6 -12.00%
on 07/27/23
-38-2 (-2.68%)
since 08/12/22

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Most Recent Stories

More News
Wheat Bulls Slip-up on Thursday

Wheat futures trade saw weaker action on Thursday across the three exchanges. Chicago SRW futures were down 6 ½ to 9 ¼ cents. Kansas City HRW contracts are down 3 3/4 to 6 cents. MPLS spring wheat...

ZWU24 : 537-6s (-1.69%)
ZWZ24 : 562-4s (-1.49%)
KEU24 : 561-4s (-1.06%)
KEZ24 : 578-0s (-0.99%)
MWU24 : 603-6s (-1.15%)
Soybeans Get Assistance with Meal Rally

Soybean futures saw some spreading on Thursday with August up just a nickel ahead of Friday’s options expiration. All other contracts were up 14 to 16 ½ cents on the day. Soymeal futures got a positive...

ZMZ24 : 329.2s (+2.68%)
ZLZ24 : 44.17s (+0.16%)
ZSQ24 : 1116-0s (+0.45%)
ZSPAUS.CM : 10.8918 (+0.21%)
ZSU24 : 1074-4s (+1.34%)
ZSX24 : 1079-4s (+1.46%)
ZSPX24US.CM : 10.2369 (+1.49%)
Corn Bulls Streaking Higher

Corn futures rounded out the Thursday session with contracts closing 1 ¼ to 3 ½ cents in the green. That took the bulls winning streak to 4 days. The Western Corn Belt remains dry for the next week....

ZCU24 : 406-0s (+0.56%)
ZCPAUS.CM : 3.9859 (+0.44%)
ZCZ24 : 420-6s (+0.66%)
ZCZ24 : 420-6s (+0.66%)
ZCPZ24US.CM : 3.9239 (+0.77%)
Shootin' the Bull about converging basis

The cash trading this week has seemingly caused futures to run towards it, converging basis. Without expectations of higher cash, I would not expect today's gains to hold.  The push to new highs in August...

Corn and Soybeans Rally Into the Last Trading Day of the Week

Corn and soybeans were higher in today's trade following better than expected new crop export data. These are the levels we are keeping an eye on as we head into Friday's trade.

Wheat Falling on Weaker Export Data

Wheat futures are trading with weaker action on Thursday across the three exchanges. Chicago SRW futures are down 6 to 8 cents at midday. Kansas City HRW contracts are down 4 to 6 cents. MPLS spring...

ZWU24 : 537-6s (-1.69%)
ZWZ24 : 562-4s (-1.49%)
KEU24 : 561-4s (-1.06%)
KEZ24 : 578-0s (-0.99%)
MWU24 : 603-6s (-1.15%)
Soybeans Propped Up by Meal Rally

Soybean futures are posting 9 to 18 cent gains so far on Thursday, as meal is helping to push things higher. Soymeal futures got a positive export sales report, with midday price action up $8.40/ton. ...

ZMZ24 : 329.2s (+2.68%)
ZLZ24 : 44.17s (+0.16%)
ZSQ24 : 1116-0s (+0.45%)
ZSPAUS.CM : 10.8918 (+0.21%)
ZSU24 : 1074-4s (+1.34%)
ZSX24 : 1079-4s (+1.46%)
ZSPX24US.CM : 10.2369 (+1.49%)
Corn Bulls Holding Higher on Thursday

Corn futures are trading with 2 to 4 cent gains so far through midday, as the week’s marginal rally continues. The Western Corn Belt remains dry for the next week, with some mild showers expected in...

ZCU24 : 406-0s (+0.56%)
ZCPAUS.CM : 3.9859 (+0.44%)
ZCZ24 : 420-6s (+0.66%)
ZCZ24 : 420-6s (+0.66%)
ZCPZ24US.CM : 3.9239 (+0.77%)
Corn Gains Limited to Fractional on Thursday Morning

Corn trade is showing fractional gains so far this morning. Futures rounded out the midweek session with fractional to 2 cent gains across most contracts. The Western Corn Belt remains dry for the next...

ZCU24 : 406-0s (+0.56%)
ZCPAUS.CM : 3.9859 (+0.44%)
ZCZ24 : 420-6s (+0.66%)
ZCZ24 : 420-6s (+0.66%)
ZCPZ24US.CM : 3.9239 (+0.77%)
Soybeans Starting Thursday with Slight Weakness

Soybean prices are down 1 to 2 cents going into the USDA weekly Export Sales report. Futures were down 6 to 12 cents at the close on Wednesday. Soymeal futures ended the day with gains of 70 cents to...

ZMZ24 : 329.2s (+2.68%)
ZLZ24 : 44.17s (+0.16%)
ZSQ24 : 1116-0s (+0.45%)
ZSPAUS.CM : 10.8918 (+0.21%)
ZSU24 : 1074-4s (+1.34%)
ZSX24 : 1079-4s (+1.46%)
ZSPX24US.CM : 10.2369 (+1.49%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1442-5
2nd Resistance Point 1432-3
1st Resistance Point 1411-5
Last Price 1391-0s
1st Support Level 1380-5
2nd Support Level 1370-3
3rd Support Level 1349-5

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52-Week High 1580-6
Fibonacci 61.8% 1432-6
Last Price 1391-0s
Fibonacci 50% 1387-0
Fibonacci 38.2% 1341-2
52-Week Low 1193-2

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