Soybean Meal Futures Pricing

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

Storage Signal

Latest trades

Oct → Dec: Inverted · −0.70

Carry (+) means later months trade above the nearby: the market is paying toward storage. Inverted (−) means the nearby trades above later months. Not trading advice.

Futures Chain

20 contracts

ZMV26 Oct 2026 OI 11,285 $360.50 / ton -1.20 -0.33%

ZMZ26 Dec 2026 OI 300,755 $359.80 / ton +0.40 +0.11%

ZMF27 Jan 2027 OI 122,772 $359.80 / ton -0.10 -0.03%

ZMH27 Mar 2027 OI 94,041 $359.70 / ton +0.10 +0.03%

ZMK27 May 2027 OI 46,400 $360.20 / ton +0.40 +0.11%

ZMN27 Jul 2027 OI 34,191 $362.00 / ton +0.80 +0.22%

ZMQ27 Aug 2027 OI 6,262 $358.40 / ton +0.40 +0.11%

ZMU27 Sep 2027 OI 3,728 $354.10 / ton +0.50 +0.14%

ZMV27 Oct 2027 OI 2,715 $346.50 / ton -1.70 -0.49%

ZMZ27 Dec 2027 OI 7,727 $349.60 / ton -0.10 -0.03%

ZMF28 Jan 2028 OI 635 $347.20 / ton -2.60 -0.74%

ZMH28 Mar 2028 OI 499 $345.60 / ton -2.90 -0.83%

ZMK28 May 2028 OI 385 $345.00 / ton -4.00 -1.15%

ZMN28 Jul 2028 OI 292 $348.00 / ton -3.20 -0.91%

ZMQ28 Aug 2028 OI 128 $344.00 / ton -5.70 -1.63%

ZMU28 Sep 2028 OI 138 $342.40 / ton -5.30 -1.52%

ZMV28 Oct 2028 OI 128 $344.80 / ton 0.00 0.00%

ZMZ28 Dec 2028 OI 60 $345.90 / ton 0.00 0.00%

ZMN29 Jul 2029 OI 0 $358.30 / ton 0.00 0.00%

ZMV29 Oct 2029 OI 0 $358.30 / ton 0.00 0.00%

Open interest (OI) is how many contracts are still open in each month.

Commitments of Traders

Tuesday, Sep 22

Managed moneyBought 6.8K on the week · most net long in at least five years: +192K
Producers and merchantsLong 107K · short 451K · net +359 on the week: −344K
Open interest Down 14.1K on the week · 370 traders: 769K

CFTC Commitments of Traders (disaggregated), CBOT soybean meal futures and options combined: positions as of Tuesday, Sep 22, published Friday, Sep 25; the next report (Sep 29 positions) is out Friday, Oct 2 at 3:30 pm ET. Net is longs less shorts, in contracts of 100 short tons.

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About

Storage Signal. Worked out from the futures themselves: the front month against the next, and old crop against new while the front month is old crop, at the latest trades while the market is open, else at the last settle.

Futures Chain. Every CBOT contract month now trading, with its last price, the day’s change and its open interest.

Commitments of Traders. U.S. Commodity Futures Trading Commission, Commitments of Traders (disaggregated): the open positions of each kind of large trader as of Tuesday’s close, published Fridays at 3:30 pm ET (the following Monday in a holiday week).

Market Data: Futures price data on Farmbucks is provided by DTN, CME Group, and ICE. Cash basis is from USDA AMS daily grain bid reports; positioning is from the CFTC's Commitments of Traders; the natural gas outlook and storage are from the U.S. Energy Information Administration. This data is for informational purposes only, may be subject to delays or inaccuracies, and is not trading advice. Please consult official sources or your broker for trading decisions.