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Soybean Meal May '23 (ZMK23)

428.1s +1.5 (+0.35%) 05/12/23 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, May 12th, 2023
Day Low
426.7
Day High
428.1
Open 426.7
Previous Close 426.6 426.6
Volume 69 69
Open Interest 39 39
Stochastic %K 30.63% 30.63%
Weighted Alpha +6.64 +6.64
5-Day Change -0.8 (-0.19%) -0.8 (-0.19%)
52-Week Range 373.1 - 498.0 373.1 - 498.0
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Soybean Meal Futures Market News and Commentary

Soybeans Post Monday Losses

Soybeans were weaker on Monday, with contracts closing with 8 to 11 cent losses. The cmdtyView national front month Cash Bean price was 9 cents lower at $9.72 1/2. Soymeal futures closed down $1.20 to 3.00/ton on the day, with Soy Oil futures down 79 to 111 points at the close. 

The average close for November soybean futures has been $10.57. That is 98 cents below last February’s average for the crop insurance price discovery. 

USDA’s Export Inspections report tallied February 20 weekly soybean shipments at 858,679 MT (31.55 mbu). That was down 19% from the same week last year but back up 18.2% from the week prior. China was still the largest destination of 480,164 MT, with 132,745 MT headed to Mexico. Marketing year soybean exports are now 36.876 MMT (1.354 bbu), an increase of 11.3% from the same week last year. 

The Brazilian soybean crop is pegged at 39% harvested according to AgRural, just 1 percentage point back of the same harvest pace last year. They cut ba... 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 Feb 18, 2025

View Chart Details
Commercials - Long / Short
296,898 (+2,789)
295,410 (-3,107)
Non-Commercials - Long / Short
103,866 (+1,779)
125,462 (+9,408)
Producers - Long / Short
162,136 (+1,158)
277,533 (-4,342)
Swap Dealers - Long / Short
117,267 (+526)
382 (+130)
Managed Money - Long / Short
55,649 (-1,863)
109,920 (+7,587)
Other Reportables - Long / Short
48,217 (+3,642)
15,542 (+1,821)
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
Period Open: 460.2
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
Period Open: 480.2
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
Period Open: 384.3
498.0 -14.04%
on 03/07/23
+43.8 (+11.40%)
since 05/12/22

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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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