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Soybean Meal Pit Aug '10 (SMQ10)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Close Mixed as New Crop Takes Off Higher

Beans posted front month weakness, with losses of ½ to 2 ½ cents. New crop contracts were up 5 ¼ to 9 ¾ cents across most months.. Soymeal got some pull back with contracts out through Jan down 50 cents to $4.40. Deferred months were higher. Soy Oil saw gains of 62 to 74 points across most contracts to lead the way higher. 

US soybean production is expected to be tallied at 4.449 bbu in this Friday WASDE showing the initial 24/25 balance sheet. USDA typically stays with the March Intentions number for planted acreage, as most in the trade expect them to adopt the 52 bpa trendline yield that was used February Outlook forum.  

Ending stocks ahead of the reports are pegged at 341 mbu, relatively unchanged from the 340 in the April report. The USDA will also issue new S&Ds for the 24/25 crop, with the average trade guess from analysts at 439 mbu for the carryout. 

Stats Canada showed canola stocks on March 31 at 8.263 MMT, a 17.5% increase from last year, with actual s... 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
Expiration Date
08/13/10 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
292.0 +10.10%
on 07/26/10
321.5 unch
on 08/13/10
+24.5 (+8.25%)
since 07/13/10
3-Month
263.1 +22.20%
on 06/01/10
321.5 unch
on 08/13/10
+44.1 (+15.90%)
since 05/13/10
52-Week
250.8 +28.19%
on 03/15/10
321.5 unch
on 08/13/10
+29.3 (+10.03%)
since 08/13/09

More Soybean Meal (Pit) Quotes

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Most Recent Stories

More News
Soybeans Have Two Key Reasons To Rally, Updated

Educational and Actionable information using Fibonacci & W.D. Gann analysis.

ZSN24 : 1246-4s (-0.18%)
Corn Faced with Tuesday Weakness As Drier Window Approaches

Corn futures slipped back on Tuesday, with contracts down ¼ to 3 ½ cents in the nearbys. Other contracts were steady to a penny higher. We got confirmation to a slowdown in US planting on Monday, but...

ZCK24 : 453-6s (-0.71%)
ZCPAUS.CM : 4.4395 (-0.43%)
ZCN24 : 467-0s (-0.43%)
ZCZ24 : 488-4s (unch)
ZCPZ24US.CM : 4.5857 (-0.08%)
Soybeans Close Mixed as New Crop Takes Off Higher

Beans posted front month weakness, with losses of ½ to 2 ½ cents. New crop contracts were up 5 ¼ to 9 ¾ cents across most months.. Soymeal got some pull back with contracts out through Jan down 50...

ZMN24 : 383.2s (-1.14%)
ZLN24 : 44.50s (+1.51%)
ZSK24 : 1232-2s (-0.20%)
ZSPAUS.CM : 11.8545 (-0.23%)
ZSN24 : 1246-4s (-0.18%)
ZSX24 : 1228-0s (+0.68%)
ZSPX24US.CM : 11.6663 (+0.75%)
Wheat Pulls Back on Turnaround Tuesday

Wheat futures are faced some weakness on Tuesday after the last couple weeks of rallying. Chicago contracts were down a penny to 7 ½ cents, as Kansas City futures were down 1 ½ to 11 ¼ cents on the...

ZWK24 : 624-6s (-1.19%)
ZWN24 : 642-6s (-0.92%)
KEK24 : 673-6s (-1.64%)
KEN24 : 664-0s (-1.67%)
MWK24 : 708-2s (unch)
Grain Spreads: No Rally to Waste

Deferred Corn Options Preferred.

Shootin' the Bull about cattle feeders bidding lower

Feeder cattle prices are too high, and the cattle feeder says so.  With only the cattle feeder in need of an 850# steer, and there being no computer generated trading to influence their decision, it seems...

Soybeans Mixed as New Crop Leads Charge Higher

Beans are showing weakness in the front months on Tuesday, with July down 3 ¾, as new crop contracts are up 6 to 8 cents. Soymeal is pulling back on Turnaround Tuesday, with contracts down $2 to $3/ton....

ZMN24 : 383.2s (-1.14%)
ZLN24 : 44.50s (+1.51%)
ZSK24 : 1232-2s (-0.20%)
ZSPAUS.CM : 11.8545 (-0.23%)
ZSN24 : 1246-4s (-0.18%)
ZSX24 : 1228-0s (+0.68%)
ZSPX24US.CM : 11.6663 (+0.75%)
Wheat Slipping Lower on Turnaround Tuesday

Wheat futures are pulling back on Tuesday after the last couple weeks of rallying, as winter wheat conditions were shown to improve slightly. Chicago contracts are down 5 to 7 cents at midday. Kansas City...

ZWK24 : 624-6s (-1.19%)
ZWN24 : 642-6s (-0.92%)
KEK24 : 673-6s (-1.64%)
KEN24 : 664-0s (-1.67%)
MWK24 : 708-2s (unch)
Corn Facing Weakness As Drier Window Approaches

Corn futures are slipping lower on Tuesday, as contracts are fractionally to 2 cents in the red. We got confirmation to a slowdown in US planting on Monday, but traders are looking ahead towards a period...

ZCK24 : 453-6s (-0.71%)
ZCPAUS.CM : 4.4395 (-0.43%)
ZCN24 : 467-0s (-0.43%)
ZCZ24 : 488-4s (unch)
ZCPZ24US.CM : 4.5857 (-0.08%)
Chicago SRW Wheat Move is Taking Break

Technical analysis of Chicago SRW Wheat Futures to assist traders and farmers with grain marketing.

ZWN24 : 642-6s (-0.92%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 325.8
1st Resistance Point 323.7
Last Price 321.5s
1st Support Level 317.2
2nd Support Level 312.8
3rd Support Level N/A

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52-Week High 321.5
Last Price 321.5s
Fibonacci 61.8% 294.5
Fibonacci 50% 286.1
Fibonacci 38.2% 277.8
52-Week Low 250.8

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