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Soybean Jul '24 (ZSN24)

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Soybean Futures Market News and Commentary

Soybeans Pull Back on Wednesday

Soybean bulls took a breath on Wednesday, as contracts were down 9 ¼ to 19 ½ cents across the board at the close. Soymeal also pulled back with contracts down $1.80 to $5.50/ton on the day. Soy Oil posted losses of 49 to 71 points to revert back to some recent weakness.   

Weekly Export Sales data will be updated on Thursday morning, with traders expecting to see between 250,000 and 600,000 MT of old crop bookings in the week that ended on May 2. New crop sales are expected to be in a range of 0-100,000 MT. Soy meal bookings are seen in a range of 100,000-400,000 MT, as bean oil sales are estimated between net reductions of 5,000 to sales of 12,000 MT.

Ahead of USDA’s WASDE release on Friday, traders are expecting to see 49.7 MMT for Argentina soybean production, compared to the 50 MMT from last month. Brazil’s output is expected to be cut by 2.5 MMT to 152.5 MMT. 

May 24 Soybeans  closed at $12.12 3/4, down 19 1/2 cents,

Nearby Cash  was $11.66 3/4, down 19... Read more

Contract Specifications

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Contract
Soybean
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 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
$50
Margin/Maintenance
$2,640/2,400
First Notice Date
06/28/24 (51 days)
Expiration Date
07/12/24 (65 days)

Seasonal Chart

Soybean Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Apr 30, 2024

View Chart Details
Commercials - Long / Short
447,805 (-31,568)
279,129 (-40,922)
Non-Commercials - Long / Short
92,100 (-4,330)
254,443 (+3,443)
Producers - Long / Short
302,198 (-29,734)
258,525 (-40,235)
Swap Dealers - Long / Short
130,662 (-211)
5,659 (+936)
Managed Money - Long / Short
52,791 (+2,171)
194,028 (+4,730)
Other Reportables - Long / Short
39,309 (-6,501)
60,415 (-1,287)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1145-6 +7.16%
on 04/19/24
1256-4 -2.29%
on 05/07/24
+33-4 (+2.81%)
since 04/08/24
3-Month
1140-4 +7.65%
on 02/29/24
1256-4 -2.29%
on 05/07/24
+18-4 (+1.53%)
since 02/08/24
52-Week
1140-4 +7.65%
on 02/29/24
1421-0 -13.60%
on 11/15/23
-61-4 (-4.77%)
since 05/08/23

More Soybean Quotes

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Most Recent Stories

More News
Soybeans Pull Back on Wednesday

Soybean bulls took a breath on Wednesday, as contracts were down 9 ¼ to 19 ½ cents across the board at the close. Soymeal also pulled back with contracts down $1.80 to $5.50/ton on the day. Soy Oil posted...

ZMN24 : 378.5s (-1.23%)
ZLN24 : 43.79s (-1.60%)
ZSK24 : 1212-6s (-1.58%)
ZSPAUS.CM : 11.6596 (-1.64%)
ZSN24 : 1227-6s (-1.50%)
ZSX24 : 1213-0s (-1.22%)
ZSPX24US.CM : 11.5162 (-1.29%)
Corn Correct Lower Ahead of Friday’s Reports

Futures are pulled back on Wednesday after a couple weeks of rallying and a USDA report on the horizon. Corn prices ended the midweek session with losses of 3 ½ to 8 ½ cents across most months. Weekly...

ZCK24 : 445-4s (-1.82%)
ZCPAUS.CM : 4.3551 (-1.90%)
ZCN24 : 458-4s (-1.82%)
ZCZ24 : 481-2s (-1.48%)
ZCPZ24US.CM : 4.5173 (-1.49%)
Wheat Market Heads Lower on Wednesday

The wheat complex closed the midweek session with weakness across all three exchanges. Chicago wheat contracts were own 8 ¼ to 9 ½ cents on the day. Kansas City futures were down 11 to 15 ½ cents at...

ZWK24 : 616-0s (-1.40%)
ZWN24 : 634-0s (-1.36%)
KEK24 : 658-2s (-2.30%)
KEN24 : 648-4s (-2.33%)
MWK24 : 708-2s (unch)
Shootin' the Bull about warning signs

Nearly half the year is over with and the triangulation of prices continues.  This is expected to continue as packers appear reluctant to increase slaughter that would reduce their margins. More companies...

Grain Futures Fail at Resistance and Retreat to Support

Grain futures had an impressive start to the week but that momentum fizzled yesterday afternoon and into today’s trade. Will technical support be defended?

Pure Hedge - Livestock and Grain

The Grains and Cattle Lower Today. What Will Friday Bring?

Wednesday Weakness in the Wheat Market

Wheat are trading lower across all three exchanges on Wednesday. Chicago contracts are down a 9 to 11 cents at midday. Kansas City futures are 9 to 14 cents lower on the day. MPLS spring wheat is 9 to...

ZWK24 : 616-0s (-1.40%)
ZWN24 : 634-0s (-1.36%)
KEK24 : 658-2s (-2.30%)
KEN24 : 648-4s (-2.33%)
MWK24 : 708-2s (unch)
Soybeans Pulling Back on Wednesday

Soybeans are taking a breather on Wednesday, showing midday losses of 10 to 13 cents across most contracts. Soymeal is trading $3.70/ton lower in the July contract. Soy Oil is following along, with contracts...

ZMN24 : 378.5s (-1.23%)
ZLN24 : 43.79s (-1.60%)
ZSK24 : 1212-6s (-1.58%)
ZSPAUS.CM : 11.6596 (-1.64%)
ZSN24 : 1227-6s (-1.50%)
ZSX24 : 1213-0s (-1.22%)
ZSPX24US.CM : 11.5162 (-1.29%)
Corn Correcting Lower on Wednesday

Futures are pulling back after a couple weeks of rallying and a USDA report on the horizon. Contracts are down anywhere from 6 to 8 cents across most front months on the midweek session. Weekly EIA data...

ZCK24 : 445-4s (-1.82%)
ZCPAUS.CM : 4.3551 (-1.90%)
ZCN24 : 458-4s (-1.82%)
ZCZ24 : 481-2s (-1.48%)
ZCPZ24US.CM : 4.5173 (-1.49%)
Grain Futures Prices Retreat

The overnight sessions have been misleading over the last few days, will today be a similar story or will the selling persist?

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 1264-4
2nd Resistance Point 1256-2
1st Resistance Point 1242-0
Last Price 1227-6s
1st Support Level 1219-4
2nd Support Level 1211-2
3rd Support Level 1197-0

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52-Week High 1421-0
Fibonacci 61.8% 1313-7
Fibonacci 50% 1280-6
Fibonacci 38.2% 1247-5
Last Price 1227-6s
52-Week Low 1140-4

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