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Soybean Meal Dec '24 (ZMZ24)

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Soybean Meal Futures Market News and Commentary

Soybeans Follow Meal Higher into the Weekend

Soybeans got some support from the solid side of the products on Friday, with contracts up 11 to 24 ¾ cents across the board. November ended the week with a 53 ¾ cent gain since last Friday. CmdtyView’s national front month Cash Bean price was back up 24 1/4 cents at $10.04. Soymeal was the real reason for the rally, with futures up $10.40 to 19.50/ton on the day. Soy Oil futures were a softer spot for the complex, down 54 to 75 points. 

CFTC data showed managed money slashing 47,437 contracts from their net short in soybean futures and options to now just 74,978 contracts as of 9/24. Commercials flipped their position back to net short by 7,245 contracts, a 44,089 contract move to the short side, mainly on additional shorts. 

Remnants of previously Hurricane Helene in parts of the upper Southeast will help to replenish lower water levels on the Mississippi river as the US gears up for a peak soybean shipping season.

USDA will release their quarterly Grain Stocks r... 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
$2,200/2,000
First Notice Date
11/29/24 (61 days)
Expiration Date
12/13/24 (75 days)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 24, 2024

View Chart Details
Commercials - Long / Short
232,533 (-13,967)
318,930 (+10,751)
Non-Commercials - Long / Short
135,949 (+12,083)
73,070 (-7,508)
Producers - Long / Short
111,363 (-13,068)
301,333 (+9,561)
Swap Dealers - Long / Short
105,690 (-1,924)
2,117 (+165)
Managed Money - Long / Short
116,148 (+11,731)
57,051 (-7,392)
Other Reportables - Long / Short
19,801 (+352)
16,019 (-116)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
307.2 +12.01%
on 08/29/24
345.8 -0.49%
on 09/27/24
+31.9 (+10.22%)
since 08/27/24
3-Month
298.5 +15.28%
on 08/14/24
345.8 -0.49%
on 09/27/24
+5.6 (+1.65%)
since 06/27/24
52-Week
298.5 +15.28%
on 08/14/24
417.4 -17.56%
on 11/08/23
-23.1 (-6.29%)
since 09/27/23

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Grain/Livestock Overview, Soybean Analysis

Educational and Actionable information using Fibonacci and W.D. Gann analysis.

LEV24 : 183.750s (-0.19%)
ZMZ24 : 344.1s (+5.29%)
ZWZ24 : 580-0s (-0.73%)
ZLZ24 : 42.36s (-1.26%)
GFX24 : 245.700s (+0.30%)
ZCZ24 : 418-0s (+1.15%)
ZSX24 : 1065-6s (+2.38%)
HEV24 : 82.050s (+0.03%)
Month and quarter ending with market exuberance

USDA Stocks Report on Monday

No Bull | The Five Spot

1 | Farmers First! Tuesday marked an important day for U.S. farmers as politicians on both sides of the aisle introduced the Farmer First Fuel Incentives Act which would require the Treasury Dept to restrict...

Livestock Markets Can't Sustain Early Rallies

The markets rally early and then pullback, ending the week on a sour note

Corn Closes the Week on a High Note

Corn futures closed out the week, with contracts up 2 ¼ to 4 ¾ cents across the board. December was up 16 ¼ cents (4.04%). The national average Cash Corn price from cmdtyView was up 5 cents at $3.85...

ZCPAUS.CM : 3.8483 (+1.32%)
ZCZ24 : 418-0s (+1.15%)
ZCZ24 : 418-0s (+1.15%)
ZCH25 : 435-0s (+0.93%)
Soybeans Follow Meal Higher into the Weekend

Soybeans got some support from the solid side of the products on Friday, with contracts up 11 to 24 ¾ cents across the board. November ended the week with a 53 ¾ cent gain since last Friday. CmdtyView’s...

ZLZ24 : 42.36s (-1.26%)
ZMZ24 : 344.1s (+5.29%)
ZSPAUS.CM : 10.0400 (+2.48%)
ZSX24 : 1065-6s (+2.38%)
ZSX24 : 1065-6s (+2.38%)
ZSF25 : 1083-0s (+2.24%)
Wheat Closes Friday as the Grains Weak Spot

Wheat futures faltered to weakness on Friday across all three exchanges. Chicago SRW futures were down 2 ¾ to 4 ¼ cents on the session, with December holding a 11 ½ cent gain on the week. KC HRW contracts...

KEH25 : 591-6s (-0.34%)
MWZ24 : 608-2s (-0.53%)
KEZ24 : 576-6s (-0.39%)
ZWZ24 : 580-0s (-0.73%)
ZWH25 : 600-2s (-0.66%)
Pure Hedge - Livestock and Grain

Soybeans and Corn Make New Highs - Livestock Markets Mixed

Shootin' the Bull about a lot of price action this week

In my opinion, a whole lot of market action took place this week for which most had no answer for, myself included.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 372.3
2nd Resistance Point 359.0
1st Resistance Point 351.6
Last Price 344.1s
1st Support Level 330.9
2nd Support Level 317.6
3rd Support Level 310.2

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52-Week High 417.4
Fibonacci 61.8% 372.0
Fibonacci 50% 358.0
Last Price 344.1s
Fibonacci 38.2% 343.9
52-Week Low 298.5

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