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Soybean Meal Price Today & History ZM=F

Quoted per short ton (USD)

$352.30
-2.5000 (-0.70%)
As of Oct 20, 2026, 9:57 AM EDT
per short ton
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Soybean Meal (ZM=F) is trading down at $352.30 per short ton (-0.70%), as of the latest quote.

Soybean Meal price history

Soybean Meal last closed at $353.40 per short ton on Oct 20, 2026. That is +24.00% over one year. Over the past 52 weeks its closing price ranged from $286.40 (Jan 13, 2026) to $376.10 (Sep 24, 2026).

Soybean Meal price change to Oct 20, 2026
PeriodChange
1 month-0.34%
6 months+8.64%
Year to date+20.00%
1 year+24.00%
3 years-16.63%
5 years+7.61%
Soybean Meal by year, per short ton
YearHighest closeLowest closeYear-end closeChange
2026 (to date) $376.10 $286.40 $353.40 +20.00%
2025 $330.80 $260.70 $294.50 -4.26%
2024 $387.00 $279.50 $307.60 -20.31%
2023 $513.00 $363.20 $386.00 -19.33%
2022 $521.90 $390.10 $478.50 +16.23%
2021 (from Oct 20) $415.90 $324.00 $411.70 —

Daily closing prices for ZM=F over the last five years, from Yahoo Finance. Highest and lowest are daily closes, not intraday extremes. The current year runs to the latest close.

About Soybean Meal

Soybean meal is the high-protein residue left after crushing soybeans for oil, and the dominant animal-feed protein source. CBOT soybean-meal futures (ZM) trade in US dollars per short ton.

More on Wikipedia →

About the Soybean Meal market

Soybean meal is the high-protein solid left after oil is extracted from soybeans, and it is used mainly as animal feed for poultry, pigs and cattle. Its benchmark contract is Soybean Meal Futures on the Chicago Board of Trade (CBOT), part of CME Group, under the product code ZM. One contract covers 100 short tons (about 91 metric tons) of 47.5% protein meal and is quoted in US dollars and cents per short ton, and the contract is physically deliverable.

Meal prices depend on the size of the soybean crop and on how much of it is crushed, which is partly driven by demand for the oil produced alongside the meal. Weather in the main growing regions affects supply. Demand follows livestock and poultry numbers, competition from other protein feeds, export demand and the US dollar.

Sources: CME Group: Soybean Meal Futures contract specs

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