Soybean Meal Futures (CBOT ZM)

Chicago Board of Trade · December 2029 contract · Priced in U.S. dollars per short ton

Contract Overview

$360.30 / ton 0.00% (0.00) Today
Sep 25, 1:15 PM UTC-5
Price performance
Open —
Day's range —
Volume 0
Prev. settlement 360.30
30-day range 356.30 – 360.30
Open interest 0
Bid —
Ask —
Expires Dec 14, 2029

CBOT · Delayed 10 min · Updated Sep 25 · Market open · closes 07:45 CT

Price Performance

December 2029 · ZMZ29

Returns

1 week +1.0% +1.0% 1 week +3.50 from 356.80 on Sep 18
1 month +4.4% +4.4% 1 month +15.30 from 345.00 on Aug 26
  • High since Jul 17 360.30 Sep 25 · price is here
  • Low since Jul 17 323.00 Aug 10 · price 11.5% above
  • 20-session high 360.30 Sep 25 · price is here
  • 20-session low 347.30 Aug 28 · price 3.7% 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 today at 8:30 am ET. Season forecast: WASDE, Oct 2026. Export Sales is out today at 8:30 am ET; showing the week ending Oct 1 until it lands.

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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

ZMZ26 Dec 2026 $356.50 / ton -3.30 -0.92%
ZMF27 Jan 2027 $355.00 / ton -2.70 -0.75%
ZMH27 Mar 2027 $353.40 / ton -2.40 -0.67%
ZMK27 May 2027 $353.60 / ton -2.40 -0.67%
ZMN27 Jul 2027 $356.20 / ton -2.10 -0.59%
ZMQ27 Aug 2027 $352.90 / ton -1.90 -0.54%
ZMU27 Sep 2027 $348.50 / ton -1.60 -0.46%
ZMV27 Oct 2027 $344.60 / ton 0.00 0.00%
ZMZ27 Dec 2027 $344.80 / ton -1.40 -0.40%
ZMF28 Jan 2028 $346.20 / ton 0.00 0.00%
ZMH28 Mar 2028 $344.00 / ton 0.00 0.00%
ZMK28 May 2028 $344.40 / ton 0.00 0.00%
ZMN28 Jul 2028 $346.60 / ton 0.00 0.00%
ZMQ28 Aug 2028 $344.50 / ton 0.00 0.00%
ZMU28 Sep 2028 $342.50 / ton 0.00 0.00%
ZMV28 Oct 2028 $339.60 / ton 0.00 0.00%
ZMZ28 Dec 2028 $341.10 / 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%
ZMZ29 Dec 2029 $360.30 / 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 2029 · ZMZ29
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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