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Soybean Meal Dec '24 (ZMZ24)

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Soybean Meal Futures Market News and Commentary

Soybeans Rallying Double Digits on Monday

Soybeans are posting double digit gains across most contracts on Monday, with contracts up 17 to 29 cents. Soymeal futures are up $4.60 per ton. Soy Oil futures are 48 points higher in the August contract. 

Soybean conditions are expected to be reported at a steady 68% in this afternoon’s Crop Progress report. Dryness over the next week across much of the US soybean growing regions is giving the market some support.

USDA’s Export Inspections report from this morning indicated a total of 327,061 MT (12 mbu) in the week that ended on July 18, a 4-week high and 13.3% larger than the same week last year. The top destinations were Germany at 114,478 MT in shipments, with 89,863 MT headed to Indonesia. Marketing year to date exports have totaled 42.35 MMT (1.556 bbu), which is down 15.6% from the previous year.

CFTC showed the commercial sector adding 20,369 contracts to their net long in the week ending July 16.  Managed money spec funds were on the other side of those... 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 (130 days)
Expiration Date
12/13/24 (144 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jul 16, 2024

View Chart Details
Commercials - Long / Short
220,889 (+12,629)
271,591 (-21,098)
Non-Commercials - Long / Short
131,194 (-12,448)
97,570 (+20,282)
Producers - Long / Short
107,205 (+5,598)
260,776 (-22,374)
Swap Dealers - Long / Short
104,013 (+5,334)
1,144 (-421)
Managed Money - Long / Short
106,928 (-14,283)
78,403 (+19,987)
Other Reportables - Long / Short
24,266 (+1,835)
19,167 (+295)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
306.7 +4.14%
on 07/16/24
348.0 -8.22%
on 06/24/24
-22.0 (-6.44%)
since 06/21/24
3-Month
306.7 +4.14%
on 07/16/24
382.3 -16.45%
on 05/08/24
-28.6 (-8.22%)
since 04/22/24
52-Week
306.7 +4.14%
on 07/16/24
417.4 -23.48%
on 11/08/23
-50.7 (-13.70%)
since 07/21/23

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Soybeans Rallying Double Digits on Monday

Soybeans are posting double digit gains across most contracts on Monday, with contracts up 17 to 29 cents. Soymeal futures are up $4.60 per ton. Soy Oil futures are 48 points higher in the August contract....

ZMZ24 : 319.4s (+3.87%)
ZLZ24 : 44.85s (+2.00%)
ZSQ24 : 1117-6s (+1.87%)
ZSPAUS.CM : 10.9250 (+1.97%)
ZSU24 : 1064-6s (+2.70%)
ZSX24 : 1068-6s (+3.16%)
ZSPX24US.CM : 10.1293 (+3.35%)
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ZCU24 : 400-2s (+2.50%)
ZCPAUS.CM : 3.9384 (+2.72%)
ZCZ24 : 415-0s (+2.53%)
ZCZ24 : 415-0s (+2.53%)
ZCPZ24US.CM : 3.8638 (+2.70%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 335.6
2nd Resistance Point 327.7
1st Resistance Point 323.5
Last Price 319.4s
1st Support Level 311.4
2nd Support Level 303.5
3rd Support Level 299.3

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52-Week High 417.4
Fibonacci 61.8% 375.1
Fibonacci 50% 362.1
Fibonacci 38.2% 349.0
Last Price 319.4s
52-Week Low 306.7

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