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Soybean Meal May '24 (ZMK24)

363.6s +2.0 (+0.55%) 05/14/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Tue, May 14th, 2024
Day Low
362.8
Day High
363.6
Open 362.8
Previous Close 361.6 361.6
Volume 16 16
Open Interest 15 15
Stochastic %K 60.37% 60.37%
Weighted Alpha -1.28 -1.28
5-Day Change -13.8 (-3.66%) -13.8 (-3.66%)
52-Week Range 323.2 - 435.9 323.2 - 435.9
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Soybean Meal Futures Market News and Commentary

Soybeans Rallies on Tuesday

The soybean market posted 20 to 34 cent gains on Tuesday, as South American weather and easing trade talk provided support. CmdtyView’s national front month Cash Bean price was up 33 cents at $10.07 ½. Soymeal futures were $14.10/ton higher on the session. Soy Oil were back up 8 points on the session. Continued dryness is expected to come back to parts of Argentina in the 8-14 day period, with the next 7 days seeing spotty totals.

USDA’s Export Inspections report indicated 973,145 MT (35.76 mbu) of soybeans shipped in the week of January 16. That was down 17.9% from the same week last year and a drop of 28.3% from last week. China was the largest destination of 494,617 MT, with 90,784 T to Mexico. Marketing year to date sales have totaled 32.298 MMT (1.187 bbu), which is still 20.6% above the same period last year.

On Monday, President Trump signaled a less aggressive approach to tariffs and has delayed implementation to review current trade agreements and policies with... 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
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 14, 2025

View Chart Details
Commercials - Long / Short
278,713 (+16,808)
267,831 (+16,235)
Non-Commercials - Long / Short
97,806 (-6,728)
127,832 (-2,863)
Producers - Long / Short
156,108 (+1,273)
254,816 (+14,107)
Swap Dealers - Long / Short
110,985 (+14,045)
1,395 (+638)
Managed Money - Long / Short
54,274 (-7,946)
116,428 (-3,713)
Other Reportables - Long / Short
43,532 (+1,218)
11,404 (+850)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
335.2 +8.47%
on 04/16/24
Period Open: 344.4
381.9 -4.79%
on 05/07/24
+19.2 (+5.57%)
since 04/12/24
3-Month
323.2 +12.50%
on 02/29/24
Period Open: 336.5
381.9 -4.79%
on 05/07/24
+27.1 (+8.05%)
since 02/14/24
52-Week
323.2 +12.50%
on 02/29/24
Period Open: 379.1
435.9 -16.59%
on 11/08/23
-15.5 (-4.09%)
since 05/12/23

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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 364.7
2nd Resistance Point 364.1
1st Resistance Point 363.9
Last Price 363.6s
1st Support Level 363.1
2nd Support Level 362.5
3rd Support Level 362.3

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52-Week High 435.9
Fibonacci 61.8% 392.8
Fibonacci 50% 379.5
Fibonacci 38.2% 366.3
Last Price 363.6s
52-Week Low 323.2

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