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Soybean Meal Aug '18 (ZMQ18)

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Soybean Meal Futures Market News and Commentary

Soybeans Slip From Highs, Still Post Double Digit Gains

Soybeans closed the week’s opening session with contracts 8 ½ to 11 ¾ at the closing bell. Soymeal was up 60 cents to $2.10 on the day to help with product support. The real support was from Soy Oil, which saw contracts up 65 to 72 points at the close.  

Export Inspections data from USDA showed soybeans slipping some during the week that ended on April 18 at 435,256 MT. That was still 14.6% above the same week last year despite the 7% drop from the week prior. More than half of the total was headed to China, at 219,144 MT, as another 75,859 MT was shipped to Indonesia and 71,250 MT to Mexico. The Year to date inspections for soybeans have totaled 38.488 MMT (1.414 bbu), which is a 18.2% decline from last year. 

Soybean planting pace is off to a decent start, with 8% of the US crop now in the ground as of Sunday. That matches last year’s pace and is double the 4% 5-year average. 

May 24 Soybeans  closed at $11.61, up 10 1/2 cents,

Nearby Cash  was $11.08 1/4,... Read more

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 16, 2024

View Chart Details
Commercials - Long / Short
223,843 (+511)
226,195 (+5,809)
Non-Commercials - Long / Short
102,248 (+11,268)
115,080 (+2,038)
Producers - Long / Short
121,101 (-785)
218,857 (+8,009)
Swap Dealers - Long / Short
99,528 (+3,434)
4,124 (-62)
Managed Money - Long / Short
82,325 (+11,524)
92,062 (-1,513)
Other Reportables - Long / Short
19,923 (-256)
23,018 (+3,551)
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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ZCK24 : 442-0 (+0.51%)
ZCPAUS.CM : 4.2409 (+1.55%)
ZCN24 : 452-0 (+0.50%)
ZCZ24 : 474-6 (+0.48%)
ZCPZ24US.CM : 4.4129 (+1.44%)
Wheat Leading the Grain Charge Higher on Monday

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ZWK24 : 581-4 (+1.97%)
ZWN24 : 598-6 (+1.91%)
KEK24 : 608-2 (+1.80%)
KEN24 : 613-0 (+1.74%)
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Soybeans Slip From Highs, Still Post Double Digit Gains

Soybeans closed the week’s opening session with contracts 8 ½ to 11 ¾ at the closing bell. Soymeal was up 60 cents to $2.10 on the day to help with product support. The real support was from Soy Oil...

ZMN24 : 346.5 (+0.49%)
ZLN24 : 45.86 (+0.44%)
ZSK24 : 1166-6 (+0.50%)
ZSPAUS.CM : 11.0827 (+1.04%)
ZSN24 : 1181-4 (+0.42%)
ZSX24 : 1175-6 (+0.34%)
ZSPX24US.CM : 11.1135 (+0.97%)
Grain Spreads: 3 Stories for Wheat

Wheat reversal on Weekly

Shootin' the Bull about covering shorts

Short futures traders are believed to have been the biggest buyers today.  How open interest ends up on today's trade may help to decipher how interested traders are.

Crop Progress

Crop Progress - 2024-04-22

ZSN24 : 1181-4 (+0.42%)
ZSPAUS.CM : 11.0827 (+1.04%)
ZSBAUS.CM : -0.5273 (+1.77%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,719s (-0.85%)
XTN24 : 4,630s (+0.04%)
ZCN24 : 452-0 (+0.50%)
ZCPAUS.CM : 4.2409 (+1.55%)
ZCBAUS.CM : -0.1565 (+1.51%)
XVN24 : 2,412s (+0.21%)
XEU24 : 59.05 (-0.17%)
Soybeans Posting Double Digit Gains on Monday

Soybeans are posting double digit 11 to 14 cent gains on Monday, helped out by the oil part of the products. Preliminary open interest from Friday showed some net new buying, up 2,147 contracts. Soymeal...

ZMN24 : 346.5 (+0.49%)
ZLN24 : 45.86 (+0.44%)
ZSK24 : 1166-6 (+0.50%)
ZSPAUS.CM : 11.0827 (+1.04%)
ZSN24 : 1181-4 (+0.42%)
ZSX24 : 1175-6 (+0.34%)
ZSPX24US.CM : 11.1135 (+0.97%)
Corn Following Grain Strength, Helped by Large Export Shipment Total

Corn futures are pushing higher to start the week, with contracts up 5 to 7 cents at midday. Spillover support from strength in wheat is helping. Preliminary open interest rose 5,697 contracts on Friday...

ZCK24 : 442-0 (+0.51%)
ZCPAUS.CM : 4.2409 (+1.55%)
ZCN24 : 452-0 (+0.50%)
ZCZ24 : 474-6 (+0.48%)
ZCPZ24US.CM : 4.4129 (+1.44%)

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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