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Soybean Meal Pit Sep '10 (SMU10)

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Soybean Meal (Pit) Futures Market News and Commentary

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 up $2 to 5 at midday. Soy Oil is mixed, with May up 13 points and July down 3.

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. 

StoneX left their Brazilian soybean crop estimate at 150.8 MMT in their latest estimates. Rains in southern Brazil have caused some localized flooding, with Rio Grande Do Sul just 66% harvested according to AgRural. The BAGE has Argentina at 51 MMT, unchanged from the previous last year, with harvest at 36.2% complete.

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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
09/14/10 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
290.0 unch
on 09/14/10
310.9 -6.72%
on 08/18/10
-12.7 (-4.20%)
since 08/13/10
3-Month
265.7 +9.15%
on 06/15/10
310.9 -6.72%
on 08/18/10
+22.2 (+8.29%)
since 06/14/10
52-Week
241.0 +20.33%
on 03/12/10
310.9 -6.72%
on 08/18/10
+16.7 (+6.11%)
since 09/14/09

More Soybean Meal (Pit) Quotes

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Most Recent Stories

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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 : 369.2 (+1.18%)
ZLN24 : 43.30 (+0.14%)
ZSK24 : 1197-4 (+0.63%)
ZSPAUS.CM : 11.4933 (+0.84%)
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MWK24 : 708-2s (+0.82%)
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Soybeans with Double Digit Overnight Gains

Soybeans are trading 6 to 11 cents higher to start your Friday. They got a boost from the meal value on Thursday, with bean contracts up 14 to 34 ¼ cents across the board. Flooding in southern Brazil...

ZMN24 : 369.2 (+1.18%)
ZLN24 : 43.30 (+0.14%)
ZSK24 : 1197-4 (+0.63%)
ZSPAUS.CM : 11.4933 (+0.84%)
ZSN24 : 1208-2 (+0.77%)
ZSX24 : 1197-6 (+0.84%)
ZSPX24US.CM : 11.3597 (+0.89%)
Wheat Resumes Rallying into Friday

Overnight action in wheat has prices trading 5 to 12 cents higher this morning, with the winter wheat contracts leading the way. Wheat bulls held their ground on Thursday, with gains across all three exchanges....

ZWK24 : 586-4s (+0.86%)
ZWN24 : 622-0 (+2.94%)
KEK24 : 675-0 (+5.97%)
KEN24 : 650-2 (+2.16%)
MWK24 : 708-2s (+0.82%)
Corn Breaking Higher on Friday

Early Friday corn prices are 4 to 5 cents higher than they went home on Thursday. Futures ended Thursday with gains of 4 ½ to 9 cents across most contracts. Weakness in the US dollar has been helpful...

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ZCPAUS.CM : 4.3709 (-0.17%)
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Lean Hogs Bull Run Ends At A 61.8% And 78.6% Fibonacci Retracements, Grains

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

HEM24 : 99.300 (-0.63%)
ZSK24 : 1197-4 (+0.63%)
ZCK24 : 448-0 (-0.88%)
ZWK24 : 586-4s (+0.86%)
Wheat Comes Back to Post Thursday Strength

Wheat bulls held their ground on Thursday, with gains across the three exchanges. Kansas City futures were up 11 to 11 ½ cents across most contracts. Chicago contracts were 3 to 5 ¼ cents higher at...

ZWK24 : 586-4s (+0.86%)
ZWN24 : 622-0 (+2.94%)
KEK24 : 675-0 (+5.97%)
KEN24 : 650-2 (+2.16%)
MWK24 : 708-2s (+0.82%)
Soy Meal Leading Soy Complex Charge on Thursday

Soybeans got a boost from the meal value on Thursday, with contracts up 14 to 34 ¼ cents across the board. Soymeal paved the way for the rally, with $8 to $15.90/ton gains. Soy Oil closed mixed, with...

ZMN24 : 369.2 (+1.18%)
ZLN24 : 43.30 (+0.14%)
ZSK24 : 1197-4 (+0.63%)
ZSPAUS.CM : 11.4933 (+0.84%)
ZSN24 : 1208-2 (+0.77%)
ZSX24 : 1197-6 (+0.84%)
ZSPX24US.CM : 11.3597 (+0.89%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 299.3
1st Resistance Point 294.7
Last Price 290.0s
1st Support Level 287.7
2nd Support Level 285.3
3rd Support Level N/A

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52-Week High 310.9
Last Price 290.0s
Fibonacci 61.8% 284.2
Fibonacci 50% 276.0
Fibonacci 38.2% 267.7
52-Week Low 241.0

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