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Soybean Meal Jan '24 (ZMF24)

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Soybean Meal Futures Market News and Commentary

Soybean Bulls Start the New Year with a Spark

The soybean market kicked off 2025 with gains across most contracts, as futures were steady to 3 ½ cents higher. CmdtyView’s national front month Cash Bean price was up 1 1/4 cents at $9.56. Soymeal futures were up $3 to $5.20/ton across the board. Soy Oil futures were down 6 to 23 points on the session.

Rains are expected to make their way into eastern and central parts of Argentina in the 8-14 day period, though the northeastern part of the country as well as Southern Brazil remains dry. StoneX raised their 2024/25 Brazilian soybean crop by 5.2 MMT from their previous estimate to 171.4 MMT.

The monthly Fats & Oils report showed a total of 210 mbu of soybeans crushed in November, well above the 207.2 mbu estimates. That was down 2.66% from the October all-time record, but up 4.97% from November 2023 and a monthly record. Soy oil stocks were tallied at 1.612 billion lbs at the end of November, exceeding estimates.

The weekly Export Sales report has been pushed back... 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
12/29/23
Expiration Date
01/12/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Dec 24, 2024

View Chart Details
Commercials - Long / Short
276,599 (-13,907)
250,768 (-18,260)
Non-Commercials - Long / Short
124,940 (-5,416)
171,735 (-3,465)
Producers - Long / Short
168,832 (-8,342)
240,447 (-16,785)
Swap Dealers - Long / Short
97,669 (-3,880)
223 (+210)
Managed Money - Long / Short
70,149 (-8,926)
165,491 (-362)
Other Reportables - Long / Short
54,791 (+3,510)
6,244 (-3,103)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
351.3 unch
on 01/12/24
413.5 -15.04%
on 12/18/23
-59.0 (-14.38%)
since 12/12/23
3-Month
351.3 unch
on 01/12/24
460.6 -23.73%
on 11/15/23
-37.9 (-9.74%)
since 10/12/23
52-Week
351.3 unch
on 01/12/24
460.6 -23.73%
on 11/15/23
-56.7 (-13.90%)
since 01/12/23

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ZCZ24 : 430-0s (-0.41%)
ZCH25 : 459-4 (unch)
ZCK25 : 467-4 (+0.05%)
Soybean Bulls Start the New Year with a Spark

The soybean market kicked off 2025 with gains across most contracts, as futures were steady to 3 ½ cents higher. CmdtyView’s national front month Cash Bean price was up 1 1/4 cents at $9.56. Soymeal...

ZLH25 : 40.32 (+0.12%)
ZMH25 : 319.1 (-0.25%)
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ZSH25 : 1014-4 (+0.25%)
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KEH25 : 551-6 (unch)
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ZWH25 : 546-6 (+0.18%)
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Shootin' the Bull about digging in your heels.

The futures traders are believed set with a significant increase in open interest representing both sides digging in their heels.

Fats and Oils

Fats and Oils - 2025-01-02

RSH25 : 624.50 (-0.08%)
KGH25 : 0.6857s (+0.25%)
ZCH25 : 459-4 (unch)
ZSDAUS-BIW.CM : 4,506,573 (unch)
XSK25 : 3,375s (+1.38%)
CTH25 : 68.62 (+0.07%)
KOH25 : 4,323 (-0.23%)
XUK25 : 2,720s (+0.89%)
XTK25 : 3,938s (-0.03%)
XVK25 : 2,234s (+0.18%)
XXK25 : 7,812s (+1.27%)
ZSBAUS.CM : -0.5605 (-12.87%)
Grain Crushings

Grain Crushings - 2025-01-02

FLG25 : 1.69500s (+0.30%)
ZCPAUS.CM : 4.3113 (+0.78%)
ZCYAUS-BIW.CM : 183.74 (unch)
ZCH25 : 459-4 (unch)
XBH25 : 212.75s (+1.43%)
XEU25 : 70.20 (+0.03%)
XVK25 : 2,234s (+0.18%)
ZCDAUS-BIW.CM : 15,671,136 (unch)
ZCBAUS.CM : -0.2836 (+7.65%)
A Choppy Grain Trade and a Surge Higher in Cattle to Start the New Year

A Choppy Grain Trade and a Surge Higher in Cattle to Start the New Year

Corn Extending Highs into 2025

Corn futures are trading with fractional to as much as 3 cent gains on Thursday as the market kicks off trade in 2025. The national average Cash Corn price from cmdtyView is up 1 1/2 cents at $4.31. The...

ZCPAUS.CM : 4.3113 (+0.78%)
ZCZ24 : 430-0s (-0.41%)
ZCH25 : 459-4 (unch)
ZCK25 : 467-4 (+0.05%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 368.8
2nd Resistance Point 365.3
1st Resistance Point 358.3
Last Price 351.3s
1st Support Level 347.8
2nd Support Level 344.3
3rd Support Level 337.3

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52-Week High 460.6
Fibonacci 61.8% 418.8
Fibonacci 50% 406.0
Fibonacci 38.2% 393.1
Last Price 351.3s
52-Week Low 351.3

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