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Soybean Meal Pit Aug '16 (SMQ16)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Close on the Lower Side on Unchanged

Soybeans ended the Friday session with slight 1 ¼ to 5 cent losses, as midday gains failed to hold. November managed to close 5 ¾ cents higher week/week. CmdtyView’s national front month Cash Bean price is down a penny at $9.50 1/4. Soymeal futures added pressure for the session, with losses of $2.40 to $3/ton. Soy Oil futures were up 30 to 43 points on the day, to close with a 263 point rally for the week for October.

CFTC data from the weekly Commitment of Traders report indicated managed money trimming 8,186 contracts from their net short as of Tuesday to 122,415 contracts. Commercials were slicing 7,967 contracts from their unusual net long position to 36,844 contracts, mainly on additional shorts.

The USDA reported a private export sale of 121,000 MT of soybeans to China this on Friday via the daily reporting system. USDA’s weekly Export Sales report showed a total of 15.993 MMT of US soybeans have been sold for export for 2024/25, whether shipped or unshipped, down... 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
07/29/16
Expiration Date
08/12/16 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
328.4 +1.37%
on 08/02/16
388.1 -14.22%
on 07/13/16
-45.8 (-12.09%)
since 07/12/16
3-Month
328.4 +1.37%
on 08/02/16
412.3 -19.26%
on 06/10/16
-29.7 (-8.19%)
since 05/12/16
52-Week
264.5 +25.86%
on 02/26/16
412.3 -19.26%
on 06/10/16
+29.2 (+9.61%)
since 08/12/15

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Most Recent Stories

More News
Corn Fall into Friday’s Close

Corn futures rounded out the Friday session with losses of 2 to 4 ¼ cents and near the session lows. December was down 11 ½ cents on the week. The national average Cash Corn price from cmdtyView is down...

ZCPAUS.CM : 3.6822 (-0.97%)
ZCZ24 : 401-6s (-0.99%)
ZCZ24 : 401-6s (-0.99%)
ZCH25 : 420-0s (-1.00%)
Wheat Heads into the Weekend Mixed

The wheat complex saw mixed action across the three markets on Friday.Chicago SRW futures were up fractionally to 3 cents on the day, as December was down 26 ¼ cents this week. KC HRW posted fractional...

KEH25 : 577-4s (-0.13%)
MWZ24 : 608-0s (+0.04%)
KEZ24 : 564-0s (-0.09%)
ZWZ24 : 568-4s (+0.53%)
ZWH25 : 587-4s (+0.43%)
Soybeans Close on the Lower Side on Unchanged

Soybeans ended the Friday session with slight 1 ¼ to 5 cent losses, as midday gains failed to hold. November managed to close 5 ¾ cents higher week/week. CmdtyView’s national front month Cash Bean...

ZLZ24 : 41.36s (+1.05%)
ZMZ24 : 319.2s (-0.75%)
ZSPAUS.CM : 9.5036 (-0.11%)
ZSX24 : 1012-0s (-0.12%)
ZSX24 : 1012-0s (-0.12%)
ZSF25 : 1029-4s (-0.17%)
Grain Spreads: Will China Retaliate?

Next Week Could Be Drama Filled

Pure Hedge - Livestock and Grain

Livestock Markets All Made New 1-Month Highs - The Grains Sat and Watched

Shootin' the Bull about a good day to conduct business

In my opinion, a great deal of opportunity was presented this week to get some marketing done at price levels and basis spreads previously unavailable.

Corn Posting Losses at Midday

Corn futures are trading at Friday’s midday with losses of 2 to 3 ½ cents. The national average Cash Corn price from cmdtyView is down 2 ¾ cents at $3.69 per bu. Thursday morning's Export Sales report...

ZCPAUS.CM : 3.6822 (-0.97%)
ZCZ24 : 401-6s (-0.99%)
ZCZ24 : 401-6s (-0.99%)
ZCH25 : 420-0s (-1.00%)
ZCPZ24US.CM : 3.7519 (-1.12%)
Soybeans Pulling Off Early Session Lows

Soybeans are trading 2 to 3 ¼ cents lower so far on Friday, with midday action well off the early double digit losses. CmdtyView’s national front month Cash Bean price is dow 3 cents at $9.48 1/2. Soymeal...

ZLZ24 : 41.36s (+1.05%)
ZMZ24 : 319.2s (-0.75%)
ZSPX24US.CM : 9.5359 (-0.08%)
ZSPAUS.CM : 9.5036 (-0.11%)
ZSX24 : 1012-0s (-0.12%)
ZSX24 : 1012-0s (-0.12%)
ZSF25 : 1029-4s (-0.17%)
Wheat Posting Mixed Midday Action

The wheat complex is trading with mixed feelings across the three markets at Friday’s midday.Chicago SRW futures are up 2 to 3 cents so far on the day. KC HRW are trading with fractional losses across...

KEH25 : 577-4s (-0.13%)
MWZ24 : 608-0s (+0.04%)
KEZ24 : 564-0s (-0.09%)
ZWZ24 : 568-4s (+0.53%)
ZWH25 : 587-4s (+0.43%)
Will Seasonal Tendencies Come Into Play This Year?

Corn and soybeans drift lower in the early morning trade, while wheat tries to find it’s footing. Will seasonal tendencies come into play this year?

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 332.9
1st Resistance Point 332.9
Last Price 332.9s
1st Support Level 332.9
2nd Support Level 332.9
3rd Support Level N/A

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52-Week High 412.3
Fibonacci 61.8% 355.8
Fibonacci 50% 338.4
Last Price 332.9s
Fibonacci 38.2% 321.0
52-Week Low 264.5

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