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Soybean Meal Pit Jul '16 (SMN16)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Posting Monday Morning Gains

Soybeans are trading5 to 7 cents higher in early Monday futures action.  Soybeans settled 3 ¼ lower to 3 cents higher on Friday, with delivery months out through January 2025 in negative territory and the rest of the 2025 contracts ending the session higher.  Nearby May was up 9 cents for the week, or 0.78%.  Preliminary open interest dropped 32,868 contracts, almost exclusively due to May options expiration. Soymeal dropped $3.90 in the nearby May contract, finishing right on top of the $340 option pin. Soy Oil eked out modest gains of 11 to 30 points for the day, with nearby May the weakest. 

Friday afternoon’s CFTC data release showed spec funds in soybean futures and options cutting 18,861 contracts from their net short position as of April 23 to 149,014 contracts. Commercials wee busy trimming their net long by 15,963 contracts to 37,728 contracts by last Tuesday.

Chinese soybean futures were up about 1.5% for the week.  They are shipping some beans from the US, but... 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
06/30/16
Expiration Date
07/14/16 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
370.0 +3.05%
on 07/07/16
407.4 -6.41%
on 06/17/16
-27.3 (-6.68%)
since 06/14/16
3-Month
295.7 +28.95%
on 04/18/16
418.3 -8.85%
on 06/02/16
+88.4 (+30.18%)
since 04/14/16
52-Week
263.3 +44.82%
on 02/26/16
418.3 -8.85%
on 06/02/16
+43.2 (+12.78%)
since 07/14/15

More Soybean Meal (Pit) Quotes

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Soybeans Posting Monday Morning Gains

Soybeans are trading5 to 7 cents higher in early Monday futures action. Soybeans settled 3 ¼ lower to 3 cents higher on Friday, with delivery months out through January 2025 in negative territory and...

ZMN24 : 349.5 (+1.39%)
ZLN24 : 44.91 (-1.38%)
ZSK24 : 1160-0 (+0.04%)
ZSPAUS.CM : 11.0910 (+0.04%)
ZSN24 : 1177-4 (+0.02%)
ZSX24 : 1175-2 (+0.04%)
ZSPX24US.CM : 11.1470 (+0.05%)
Corn, Wheat & Soybeans All Bottom At A Fibonacci Retracement

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ZWK24 : 584-4 (-3.11%)
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WEAT : 5.69 (-2.73%)
ZSN24 : 1177-4 (+0.02%)
KEN24 : 650-6 (-0.53%)
MWN24 : 704-4 (+0.14%)
Soybeans Hesitant to Head Higher on Planting Delays

Soybeans settled 3 ¼ lower to 3 cents higher on Friday, with delivery months out through January 2025 in negative territory and the rest of the 2025 contracts ending the session higher. Nearby May was...

ZMN24 : 349.5 (+1.39%)
ZLN24 : 44.91 (-1.38%)
ZSK24 : 1160-0 (+0.04%)
ZSPAUS.CM : 11.0910 (+0.04%)
ZSN24 : 1177-4 (+0.02%)
ZSX24 : 1175-2 (+0.04%)
ZSPX24US.CM : 11.1470 (+0.05%)
Wheat Rally Continues into Weekend, KC Up 64 ¾ Cents For Week

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Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 381.3
1st Resistance Point 381.3
Last Price 381.3s
1st Support Level 381.3
2nd Support Level 381.3
3rd Support Level N/A

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52-Week High 418.3
Last Price 381.3s
Fibonacci 61.8% 359.1
Fibonacci 50% 340.8
Fibonacci 38.2% 322.5
52-Week Low 263.3

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