Soybean Meal Futures (CBOT ZM)

Chicago Board of Trade · December 2026 contract · Priced in U.S. dollars per short ton

Contract Overview

$363.70 / ton -0.22% (-0.80) Today
Oct 14, 8:08 PM UTC-5
Price performance
Open 364.50
Day's range 363.60 – 365.50
Volume 2.38K
Prev. settlement 364.50
30-day range 344.20 – 376.90
Open interest 263.83K
Bid 363.60
Ask 363.70
Expires Dec 14, 2026

CBOT · Delayed 10 min · Updated 19 min ago · Market open · closes 07:45 CT

Price Performance

December 2026 · ZMZ26

Returns

1 week −0.6% −0.6% 1 week −2.10 from 365.80 on Oct 7
1 month −0.5% −0.5% 1 month −1.70 from 365.40 on Sep 15
3 months +12.8% +12.8% 3 months +41.30 from 322.40 on Jul 16
6 months +13.3% +13.3% 6 months +42.70 from 321.00 on Apr 15
Year to date +14.8% +14.8% year to date +46.80 from 316.90 on Dec 31, 2025
1 year +20.1% +20.1% 1 year +60.90 from 302.80 on Oct 13, 2025
  • 52-week high 372.40 Sep 24 · price 2.3% below
  • 52-week low 300.10 Jun 24 · price 21.2% above
  • 20-session high 372.40 Sep 24 · price 2.3% below
  • 20-session low 347.10 Oct 5 · price 4.8% above
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Balance Sheet

WASDE · Oct 9, 2026 · 2026/27 forecast
  • Ending stocks 450k s.t. Unchanged from Sep
  • Stocks-to-use 0.7% Ending stocks over total use

Farmbucks members get what moved in this month's WASDE, the crop and the price. Get Started for Free

USDA World Agricultural Supply and Demand Estimates for October 2026, released Oct 9: the U.S. soybean meal balance sheet. Changes are against the September report.

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Exports

Week ending Oct 1 · 2025/26
  • Sold this season 18.1M t 16% ahead of last year's pace
  • Shipped so far 17.2M t 95% of sales · 93% of USDA's estimate

Farmbucks members get the season's top buyers and the week's sales and shipments. Get Started for Free

USDA Export Sales Report for the week ending Oct 1, released Oct 8; the next one is out Oct 16 at 8:30 am ET. Season forecast: WASDE, Oct 2026.

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Commitments of Traders

Tuesday, Oct 6

Net positions

FundsManaged money +207K +207K net long Managed money · Sold 612 on the week · net long for 33 weeks
CommercialsProducers and merchants −364K −364K net short Producers and merchants · Long 88.7K · short 453K · net −8.6K on the week
  • Funds on the week Sold 612 Net long for 33 weeks
  • Open interest 727K Up 6.5K on the week · 370 traders

Funds are hedge funds and other money managers (managed money). Commercials are the hedgers: farmers, elevators, processors and exporters (producers and merchants). Net is longs less shorts, in contracts of 100 short tons, as of Tuesday’s close.

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Futures chain

ZMV26 Oct 2026 $370.10 / ton 0.00 0.00%
ZMZ26 Dec 2026 $363.70 / ton -0.80 -0.22%
ZMF27 Jan 2027 $361.10 / ton -0.70 -0.19%
ZMH27 Mar 2027 $358.70 / ton -0.70 -0.19%
ZMK27 May 2027 $358.50 / ton -0.70 -0.19%
ZMN27 Jul 2027 $360.70 / ton -0.50 -0.14%
ZMQ27 Aug 2027 $356.90 / ton -0.50 -0.14%
ZMU27 Sep 2027 $352.20 / ton -0.10 -0.03%
ZMV27 Oct 2027 $346.30 / ton -0.10 -0.03%
ZMZ27 Dec 2027 $347.60 / ton -0.30 -0.09%
ZMF28 Jan 2028 $347.30 / ton -0.50 -0.14%
ZMH28 Mar 2028 $345.60 / ton 0.00 0.00%
ZMK28 May 2028 $345.90 / ton 0.00 0.00%
ZMN28 Jul 2028 $348.00 / ton 0.00 0.00%
ZMQ28 Aug 2028 $345.70 / ton 0.00 0.00%
ZMU28 Sep 2028 $343.70 / ton 0.00 0.00%
ZMV28 Oct 2028 $340.80 / ton 0.00 0.00%
ZMZ28 Dec 2028 $341.80 / ton 0.00 0.00%
ZMN29 Jul 2029 $358.30 / ton 0.00 0.00%
ZMV29 Oct 2029 $358.30 / ton 0.00 0.00%

News Stories

Farms.comFarms.com•Oct 13 ICE Close: Canola Holds Despite Bearish USDA
Farms.comFarms.com•Oct 13 U.S. Soybean Ending Stocks Revised Higher
BarchartBarchart•Oct 13 Cattle Hit a Decision Point: Full Grain and Livestock Recap
BarchartBarchart•Oct 14 Soybeans Post Slight Tuesday Losses
Successful FarmingSuccessful Farming•Oct 13 Grains End the Day in the Red | Tuesday, Oct. 13, 2026
Farm ProgressFarm Progress•Oct 13 Grains still show post-WASDE struggles
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Contract Specifications

Contract December 2026 · ZMZ26
Exchange Chicago Board of Trade · ZM
Contract size 100 short tons
Tick size $0.10 per short ton · $10.00 per contract
Value of a $1 move $100 per contract
Contract months Jan, Mar, May, Jul, Aug, Sep, Oct, Dec (F, H, K, N, Q, U, V, Z)
Trading hours 7:00 pm – 7:45 am and 8:30 am – 1:20 pm CT, Sun–Fri
Settlement Physical delivery
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