Soybean Futures,May-2024 (ZS=F) Stock Price, News, Quote & History - Yahoo Finance (2024)

FAQs

What is the futures forecast for soybeans? ›

Soybeans is expected to trade at 1138.87 USd/BU by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1078.45 in 12 months time. Soybeans Futures are available for Trading in The Chicago Board of Trade (CBOT® ).

Soybean futures contracts are bought and sold at a value of 5,000 bushels per contract. So, the total dollar value of the contract is the price per bushel multiplied by 5,000.

Soybean futures mostly declined, the July contract to a seven-week low under pressure from farmer sales in Brazil and mostly favorable outlooks for US planting. Sluggish demand sent corn futures lower for a fourth straight session, the July contract striking a six-week low.

The current price of soybeans as of April 22, 2024 is $11.6100 per bushel.

Again, that range is much less volatile than the $4.88 we saw in 2021. Going forward in to 2024, Maples projects a trading range of $2 with corn prices sitting somewhere between $4 to $6 per bushel. For soybean, he expects a trading range of $4.50 with bean prices between $10 to $14.50 per bushel.

The U.S. season-average soybean price for 2023/24 is forecast at $12.55 per bushel, down 10 cents. Soybean meal and oil prices are unchanged at $380 per short ton and 49 cents per pound, respectively.

Prices for soybean oil and soybean meal weakened during the summer, falling further from the historically high 2021-22 prices. Since July, soybean oil price projections fell by $0.05 to $0.69 per pound. The USDA forecasts soybean meal prices will be $390 per short ton, down 11.4% year over year.

Trading months: Trading months for soybeans are January, March, May, July, August, September, and November. Exchange: You can trade soybeans through the Chicago Mercantile Exchange (CME).

In 2024, corn is projected at $4.66 per bushel, which is a 27% decrease from 2023. Soybeans are projected at $11.55 per bushel, a 16% decrease in the same period.

Will soybeans go up in 2024? ›

Lower ending stocks combined with growing demand for sustainable biodiesel indicate the United States may need more supply of soybeans. U.S. planted acres are likely to go up for soybeans in 2024.

Source: Sosland Publishing Co. Soybean futures were pressured Thursday by lower-than-expected export sales and abundant South American production. Kansas City and Chicago wheat futures ended mixed while Minneapolis wheat futures closed with solid gains.

Sell Soybeans Now

Soybean export demand improved as the 2023/24 marketing year started, and expanded crush capacity helped domestic demand set new records late in the old-crop marketing year.

The expected gross profit for this productivity soil is $449/acre for corn and $442/acre for soybeans. Assuming a 50-50 rotation the average gross return would be $446/acre. The net return would be calculated by subtracting out the land rent.

USDA raised it's soybean yield forecast for the 2023 crop to 50.6 bu per acre, which was up from the 49.9 bu. per acre forecast in November. While the 2023 yield of 50.6 bu. per acre isn't a record yield, it's still higher than 2022's final yield of 49.6 bu.

1, soybean yields are expected to average 49.6 bushels per acre, down 0.5 bushel from the previous forecast but unchanged from 2022. Area harvested for beans in the United States is forecast at 82.8 million acres, unchanged from the previous forecast, but down 4% from 2022.