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Soybean Meal May '23 (ZMK23)

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Soybean Meal Futures Market News and Commentary

Soybeans Pull Out Friday Gains After Week of Losses

Soybeans were pressured for much of the week with weaker product values, but managed to close Friday with gains of 1 ¼ to 7 cents. January was still down 15 cents since last Friday’s close. CmdtyView’s national front month Cash Bean price was up 5 3/4 cents at $9.33. Soymeal futures were up $1.50 to $2.70/ton across the board, to help ease the week’s losses to just 40 cents for December. Soy Oil futures were down 29 to 46 points at the close, with December down 358 points since last Friday.

USDA reported a private export sale of 198,000 MT of 2024/25 soybeans this morning to unknown destinations.

CFTC’s Commitment of Traders report indicated soybean spec traders adding back 13,165 contracts to their net short position as of Tuesday, to 67,701 contracts. Commercials were trimming their net short by 13,976 contracts to 30,200 contracts as of 11/19. In soybean meal, the large spec funds were net short 63,700 contracts, a near record and increase of 36,069 contracts on the w... 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
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

Soybean Meal May '23
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Nov 19, 2024

View Chart Details
Commercials - Long / Short
286,611 (+2,376)
296,003 (-24,769)
Non-Commercials - Long / Short
145,560 (-2,224)
161,816 (+26,538)
Producers - Long / Short
158,087 (+2,196)
273,220 (-26,196)
Swap Dealers - Long / Short
106,250 (-1,724)
509 (-477)
Managed Money - Long / Short
93,514 (-6,014)
152,736 (+27,750)
Other Reportables - Long / Short
52,046 (+3,790)
9,080 (-1,212)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
415.0 +3.16%
on 05/11/23
471.1 -9.13%
on 04/18/23
-32.1 (-6.98%)
since 04/12/23
3-Month
415.0 +3.16%
on 05/11/23
498.0 -14.04%
on 03/07/23
-52.1 (-10.85%)
since 02/10/23
52-Week
373.1 +14.74%
on 07/05/22
498.0 -14.04%
on 03/07/23
+43.8 (+11.40%)
since 05/12/22

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Corn Closes with Slight Weakness on Friday

The corn market posted fractional to 1 ¼ cent losses on Friday, a few deferreds up ¼ cent. December still managed to pull out a 1 ½ cent gain on the week. December options expired today. First notice...

ZCPAUS.CM : 4.0258 (-0.27%)
ZCZ24 : 425-4s (-0.29%)
ZCZ24 : 425-4s (-0.29%)
ZCH25 : 435-2s (-0.23%)
Soybeans Pull Out Friday Gains After Week of Losses

Soybeans were pressured for much of the week with weaker product values, but managed to close Friday with gains of 1 ¼ to 7 cents. January was still down 15 cents since last Friday’s close. CmdtyView’s...

ZLF25 : 41.84s (-1.04%)
ZMF25 : 291.5s (+0.73%)
ZSPAUS.CM : 9.3300 (+0.64%)
ZSF25 : 983-4s (+0.59%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 992-2s (+0.71%)
Wheat Gives into Week-End Pressure

The wheat complex closed with losses across the board on Friday. Chicago SRW futures were down 3 1/4 to 4 3/4 cents across the board on the day, with December still up 7 ¾ cents on the week. KC HRW contracts...

KEH25 : 565-4s (-0.31%)
MWZ24 : 586-0s (-0.34%)
KEZ24 : 554-2s (-0.23%)
ZWZ24 : 544-2s (-0.82%)
ZWH25 : 564-6s (-0.83%)
Grain Spreads: March 25 Corn Hedges

March 25 Corn Examined

Wheat Facing Sell Pressure on Friday

The wheat complex is heading back lower on Friday. Chicago SRW futures are down 4 to 5 cents across the nearbys. KC HRW contracts are showing fractional to 3 cent losses. MPLS spring wheat is down fractionally...

KEH25 : 565-4s (-0.31%)
MWZ24 : 586-0s (-0.34%)
KEZ24 : 554-2s (-0.23%)
ZWZ24 : 544-2s (-0.82%)
ZWH25 : 564-6s (-0.83%)
Corn Sticking Near Unchanged at Midday

The corn market showing fractionally mixed trade so far on Friday. December options expire today. The national average Cash Corn price from cmdtyView is down 1/2 cent at $4.03 1/4 per bu. Spillover pressure...

ZCPAUS.CM : 4.0258 (-0.27%)
ZCZ24 : 425-4s (-0.29%)
ZCZ24 : 425-4s (-0.29%)
ZCH25 : 435-2s (-0.23%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 430.0
2nd Resistance Point 429.0
1st Resistance Point 428.6
Last Price 428.1s
1st Support Level 427.2
2nd Support Level 426.2
3rd Support Level 425.8

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52-Week High 498.0
Fibonacci 61.8% 450.3
Fibonacci 50% 435.5
Last Price 428.1s
Fibonacci 38.2% 420.8
52-Week Low 373.1

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