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Soybean Meal Aug '18 (ZMQ18)

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Soybean Meal 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
Contract Size
100 tons (2,000 pounds per ton)
Tick Size
10 cents per ton ($10.00 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
CBOT
Point Value
$100
Margin/Maintenance
$2,090/1,900
First Notice Date
07/31/18
Expiration Date
08/14/18 (expired)

Seasonal Chart

Soybean Meal Aug '18
Average Price Chart for 5 Prior Aug Contracts

Commitment of Traders Positions as of Apr 30, 2024

View Chart Details
Commercials - Long / Short
191,673 (-19,883)
240,781 (-2,335)
Non-Commercials - Long / Short
130,740 (+10,298)
98,621 (-7,378)
Producers - Long / Short
99,615 (-11,043)
234,949 (+821)
Swap Dealers - Long / Short
88,555 (-7,886)
2,329 (-2,202)
Managed Money - Long / Short
112,261 (+12,410)
65,576 (-12,866)
Other Reportables - Long / Short
18,479 (-2,112)
33,045 (+5,488)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
321.4 +4.23%
on 08/13/18
342.6 -2.22%
on 07/31/18
+9.0 (+2.76%)
since 07/13/18
3-Month
321.4 +4.23%
on 08/13/18
387.7 -13.59%
on 05/15/18
-49.4 (-12.85%)
since 05/14/18
52-Week
304.8 +9.91%
on 08/23/17
403.2 -16.91%
on 05/02/18
+23.1 (+7.41%)
since 08/14/17

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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...

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ZSPAUS.CM : 11.5597 (+1.42%)
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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 : 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%)
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Wheat Resumes Rallying into Friday

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ZWK24 : 606-0s (+3.32%)
ZWN24 : 622-4s (+3.02%)
KEK24 : 660-0s (+3.61%)
KEN24 : 650-2s (+2.16%)
MWK24 : 708-2s (unch)
Corn Breaking Higher on Friday

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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%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 335.0
1st Resistance Point 335.0
Last Price 335.0s
1st Support Level 335.0
2nd Support Level 335.0
3rd Support Level N/A

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52-Week High 403.2
Fibonacci 61.8% 365.6
Fibonacci 50% 354.0
Fibonacci 38.2% 342.4
Last Price 335.0s
52-Week Low 304.8

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