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Soybean Meal Pit Mar '12 (SMH12)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Close Just Off Friday Highs

Soybeans powered into the close as contracts were within a few cents of the daily high at the final bell. Futures were up anywhere from 7 to 16 cents at the close. The weekly gains totaled 37 ¾ cents for July and 26 ¼ cents for new crop November. Soymeal continued the rally on the week with Friday gains of $4.30 to $9.40/ton across the board, and July up $27.50 for the week. Soy Oil bulls weren’t as lucky, with contracts down 11 to 19 points on Friday and taking the weekly loss to 246 points for July.

There were 146 deliveries vs. May meal overnight, all stopped by a Stonex client. Bean oil deliveries shrank to only 79 contracts, with a handful stopped by ADMIS.  There were 196 contracts issued against May soybeans, with ADM stopping 179 for the house account. 

USDA issued a flash sale announcement of 122,000 MT of soybeans sold to unknown destinations this morning. 

Weekly Commitment of Traders data showed managed money spec traders in soybean futures and option a... Read more

Contract Specifications

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Contract
Soybean Meal [Pit]
Contract Size
100 tons (2,000 pounds per ton)
Tick Size
10 cents per ton ($10.00 per contract)
Trading Hours
8:30a.m. - 1:15p.m. CST
Exchange
CBOT
Point Value
$100
Margin/Maintenance
$2,090/1,900
First Notice Date
02/29/12
Expiration Date
03/14/12 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
327.5 +10.53%
on 02/22/12
364.5 -0.69%
on 03/06/12
+31.9 (+9.66%)
since 02/14/12
3-Month
286.0 +26.57%
on 12/15/11
364.5 -0.69%
on 03/06/12
+75.7 (+26.44%)
since 12/14/11
52-Week
279.5 +29.52%
on 12/12/11
392.0 -7.65%
on 08/31/11
+17.3 (+5.02%)
since 03/14/11

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Soybeans powered into the close as contracts were within a few cents of the daily high at the final bell. Futures were up anywhere from 7 to 16 cents at the close. The weekly gains totaled 37 ¾ cents...

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Wheat Rallies into Weekend

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Corn Bulls Hold on For Friday Gains

Corn held up despite the bears putting up a fight after the overnight strength. Futures closed with contracts up ½ to 3 ¼ cents, as in delivery May was down a nickel. July futures ended the week with...

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ZCPAUS.CM : 4.3784 (unch)
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Corn Fading Early Gains at Midday

Corn futures are slipping of the early session strength on Friday, with contracts down 1 ½ to 3 ½ cents in the nearbys and up 1 to 2 cents in the new crop contracts. Some precip is expected to make...

ZCK24 : 447-0s (-1.11%)
ZCPAUS.CM : 4.3784 (unch)
ZCN24 : 460-2s (+0.11%)
ZCZ24 : 482-6s (+0.68%)
ZCPZ24US.CM : 4.5268 (+0.79%)
Soybeans Pulling Off Early Session Highs

Soybeans are trading the final session of the week, with contracts up 6 to 8 cents across most months, pulling back from early double digit gains. Soymeal is also pulling off the highs, with contracts...

ZMN24 : 372.2s (+2.00%)
ZLN24 : 43.08s (-0.37%)
ZSK24 : 1201-6s (+0.99%)
ZSPAUS.CM : 11.5597 (+1.42%)
ZSN24 : 1215-0s (+1.33%)
ZSX24 : 1201-0s (+1.12%)
ZSPX24US.CM : 11.3921 (+1.18%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 364.7
1st Resistance Point 363.3
Last Price 362.0s
1st Support Level 361.3
2nd Support Level 360.7
3rd Support Level N/A

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52-Week High 392.0
Last Price 362.0s
Fibonacci 61.8% 349.0
Fibonacci 50% 335.8
Fibonacci 38.2% 322.5
52-Week Low 279.5

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