Soybean Meal (ZM-F)
Commodities · Grains · data since 2000-05-15 · last close 2026-09-09
Soybean Meal (ZM-F) monthly returns (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.3 | 7.5 | 0.3 | 1.9 | 2.3 | -7.6 | 2.5 | 7.2 | 4.8 | · | · | · |
| 2025 | -2.1 | -3.1 | 0.3 | -0.9 | 2.2 | -8.4 | -3.5 | 8.3 | -6.3 | 21.0 | -2.2 | -6.3 |
| 2024 | -4.6 | -9.5 | 1.3 | 2.5 | 5.3 | -1.1 | -1.8 | -12.0 | 10.5 | -13.0 | -4.1 | 7.1 |
| 2023 | 1.2 | 0.7 | -4.4 | -6.6 | -9.6 | 6.6 | 7.6 | -7.2 | -10.2 | 14.7 | 2.6 | -12.7 |
| 2022 | 1.8 | 8.6 | 2.8 | -5.8 | -5.8 | 13.3 | 5.4 | -7.3 | -12.1 | 6.2 | -2.4 | 14.6 |
| 2021 | -0.8 | -1.8 | 0.0 | 0.7 | -7.2 | -5.1 | -6.1 | -1.8 | -5.8 | 2.0 | 4.9 | 18.0 |
| 2020 | -3.0 | 2.6 | 7.7 | -9.9 | -2.2 | 1.1 | 1.1 | 5.3 | 11.5 | 11.4 | 3.8 | 10.5 |
| 2019 | 1.2 | -2.5 | 1.4 | -3.4 | 8.6 | -2.5 | -4.8 | -3.0 | 2.3 | 2.9 | -4.4 | 3.1 |
| 2018 | 8.1 | 16.7 | -2.6 | 2.1 | -4.3 | -11.3 | 2.5 | -11.0 | 0.6 | 0.3 | 0.6 | -0.7 |
| 2017 | 6.9 | -0.6 | -7.3 | 1.1 | -4.4 | 2.1 | 4.7 | -7.6 | 5.8 | 0.1 | 4.1 | -3.7 |
| 2016 | 3.1 | -4.8 | 4.2 | 22.9 | 19.4 | 2.2 | -13.6 | -10.8 | -4.6 | 6.1 | 0.1 | -1.1 |
| 2015 | -9.5 | 7.2 | -7.6 | -2.4 | -4.1 | 17.6 | -1.4 | -9.5 | -3.9 | -1.3 | -6.5 | -7.1 |
| 2014 | -2.6 | 9.8 | 2.4 | 5.1 | -0.7 | -8.4 | -14.6 | 12.3 | -30.7 | 27.7 | 0.5 | -6.8 |
| 2013 | 1.4 | 2.0 | -7.0 | 5.9 | 4.4 | 9.6 | -11.3 | 7.6 | -12.4 | -1.5 | 13.1 | -4.1 |
| 2012 | 3.2 | 10.0 | 10.7 | 11.7 | -9.2 | 10.5 | 24.9 | 0.4 | -11.0 | -1.0 | -8.3 | -4.9 |
| 2011 | 2.7 | -6.3 | 4.0 | -3.4 | -0.8 | -6.5 | 5.8 | 8.3 | -20.0 | 3.7 | -8.1 | 6.5 |
| 2010 | -12.8 | -0.2 | -2.7 | 9.6 | -6.1 | 5.8 | 7.4 | -2.2 | -0.7 | 11.8 | 0.3 | 9.4 |
| 2009 | 3.5 | -11.3 | 7.1 | 16.0 | 11.7 | 7.8 | -12.4 | 6.0 | -24.5 | 2.9 | 10.0 | -4.0 |
| 2008 | 3.0 | 10.0 | -14.2 | 4.4 | 1.5 | 27.1 | -12.5 | -3.2 | -23.9 | -2.3 | -6.2 | 17.4 |
| 2007 | 8.1 | 8.2 | -5.6 | -9.0 | 12.5 | 5.7 | -5.9 | 11.2 | 15.2 | 1.2 | 3.1 | 15.0 |
| 2006 | -6.2 | -5.8 | 0.2 | -1.0 | -0.3 | 1.3 | -6.9 | -3.3 | 3.0 | 17.1 | 2.0 | -0.8 |
| 2005 | -5.4 | 19.0 | 2.2 | 4.0 | 10.4 | -3.6 | 2.6 | -14.1 | -8.3 | 1.5 | 1.2 | 14.8 |
| 2004 | 5.7 | 9.5 | 12.3 | 1.2 | -19.9 | 16.8 | -33.5 | -8.7 | -13.6 | -1.5 | 0.2 | 5.5 |
| 2003 | 2.6 | 3.7 | -3.4 | 13.2 | -2.2 | 0.3 | -11.5 | 19.1 | -0.7 | 26.2 | -8.6 | 5.0 |
| 2002 | 1.9 | 3.1 | 5.1 | -0.4 | 4.2 | 6.9 | 1.1 | -0.4 | -6.2 | -0.3 | -2.1 | 0.7 |
| 2001 | -13.5 | -6.0 | -3.8 | -1.3 | 7.0 | 0.9 | 6.9 | -5.3 | -1.3 | 0.1 | -3.1 | -6.3 |
| 2000 | · | · | · | · | -3.5 | -5.7 | -12.0 | 16.4 | 1.1 | -3.5 | 12.5 | 3.5 |
| Avg | -0.3 | 2.6 | 0.1 | 2.2 | 0.3 | 2.8 | -2.9 | -0.2 | -5.2 | 5.1 | 0.1 | 2.8 |
Values in %. Current and first-listed months are partial (greyed).
returnsview.com
ZM-F seasonality — average by calendar month
Soybean Meal has monthly history back to 2000. Its strongest month by median is February — positive in 15 of 26 years, median +2.3%, and higher in 5 of the last 9. September is the soft spot, down in 18 of 26 with a median of -5.2%. Across its full record it has closed 53% of months higher, swings ±8.8% in an average month and has fallen 57.4% peak to trough.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | -0.3% | +2.6% | +0.1% | +2.2% | +0.3% | +2.8% | -2.9% | -0.2% | -5.6% | +5.1% | +0.1% | +2.8% |
| Win rate | 58%/26 | 58%/26 | 58%/26 | 58%/26 | 44%/27 | 63%/27 | 44%/27 | 41%/27 | 31%/26 | 69%/26 | 58%/26 | 54%/26 |
Win rate = share of positive months / sample size.
ZM-F risk & extremes
ZM-F drawdown & rolling returns
Percent below the all-time high at each month-end — how far underwater the asset was.
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Frequently asked questions
What was Soybean Meal's best month?+
Soybean Meal's strongest completed month on record is October 2014, at +27.71%.
What was Soybean Meal's worst month?+
Its weakest completed month on record is July 2004, at -33.45%.
Is Soybean Meal up this year?+
Soybean Meal is up 19.02% year to date, measured from its last close before 1 January.
What is Soybean Meal's 1-year return?+
+20.16% over the past twelve months, comparing the latest close with the most recent close on or before the same date a year earlier.
What is Soybean Meal's biggest drawdown?+
The deepest peak-to-trough fall on record is 57.4%, measured on month-end closes since 2000.
Which calendar month is historically best for Soybean Meal?+
October has the highest average return across every completed October since 2000. An average is not a forecast.
About Soybean Meal
Soybean Meal is a grains business. Tracked here from its first session onward — every monthly, quarterly and weekly return on record since 2000, with no gaps filled in and nothing smoothed. Since 2000 it has ground out +89% overall — not every story is a rocket.
Did you know?
- Its best month on record was October 2014 at +27.71%; its worst, July 2004 at -33.45%.
Trivia for entertainment — the numbers come from our price data; the jokes don't.