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Soybean Meal Pit Jan '09 (SMF09)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Retreating from Highs at Midday

Soybeans prices are showing 3 to 5 cent gains in the nearbys on Wednesday. Soymeal is posting strength to lead the complex higher, up $4.80 to $5.20/ton, with Soy Oil back down 59 to 63 points. 

USDA did issue a corrected report to the flash sale announcement from last week, indicating Mexico, not unknown, was the buyer of 121,500 MT of soybeans (13,500 MT for 23/24 and 108,000 MT for 24/25). 

Soybean export bookings for the week that ended on April 18 are seen in a range of 300,000-600,000 MT for old crop, with 0-300,000 MT for new crop. Meal sales are in a range of 100,000 to 450,000 MT in sales, with soy oil bookings at a net reduction of 5,000 to sales of 20,000 MT. 

May 24 Soybeans  are at $11.71, up 3 1/2 cents,

Nearby Cash  is at $11.19 3/4, up 3 1/2 cents,

Jul 24 Soybeans  are at $11.86 1/4, up 4 1/4 cents,

Nov 24 Soybeans  are at $11.77 1/2, up 3 1/2 cents,

New Crop Cash  is at $11.14 1/1, up 3 5/8 cents,

On the date of publicat... 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
Expiration Date
01/14/09 (expired)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
254.5 +16.31%
on 12/15/08
316.5 -6.48%
on 01/09/09
+38.3 (+14.86%)
since 12/12/08
3-Month
235.5 +25.69%
on 12/05/08
316.5 -6.48%
on 01/09/09
+45.9 (+18.35%)
since 10/14/08
52-Week
235.5 +25.69%
on 12/05/08
433.0 -31.64%
on 07/11/08
-44.0 (-12.94%)
since 01/14/08

More Soybean Meal (Pit) Quotes

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Most Recent Stories

More News
Soybeans Retreating from Highs at Midday

Soybeans prices are showing 3 to 5 cent gains in the nearbys on Wednesday. Soymeal is posting strength to lead the complex higher, up $4.80 to $5.20/ton, with Soy Oil back down 59 to 63 points. USDA did...

ZMN24 : 348.9 (+0.81%)
ZLN24 : 45.38 (-1.09%)
ZSK24 : 1167-2 (-0.02%)
ZSPAUS.CM : 11.1511 (-0.01%)
ZSN24 : 1182-2 (+0.02%)
ZSX24 : 1175-4 (+0.13%)
ZSPX24US.CM : 11.1513 (+0.14%)
Corn Turns Lower Following Drop to Ethanol Production

Corn futures are pulling back in the front months on Wednesday, with losses of 1 to 2 cents. New Crop December is up ½ cent at midday. EIA’s weekly petroleum report tallied ethanol production at 954,000...

ZCK24 : 437-4 (-1.24%)
ZCPAUS.CM : 4.2198 (-1.28%)
ZCN24 : 448-4 (-0.88%)
ZCZ24 : 472-2 (-0.53%)
ZCPZ24US.CM : 4.4109 (-0.56%)
Wheat Sitting at 2-Month Highs

The wheat complex is continuing to rally at midday, nearing the highest prices since February. Kansas City continues to lead the charge, with gains of 13 to 17 cents. Chicago contracts are up 10 to 13...

ZWK24 : 593-6 (+1.50%)
ZWN24 : 612-0 (+1.53%)
KEK24 : 624-4 (+2.59%)
KEN24 : 629-2 (+2.44%)
MWK24 : 678-4 (+1.80%)
3 Reasons Why SRW Wheat Isn't Fundamentally Bullish

Yes, the Chicago SRW Wheat market has rallied of late, but that doesn't mean it is fundamentally bullish.

IWY00 : 533.19s (+2.86%)
Egypt's Wheat Imports Expected to Rise as Economy Stabilizes: USDA

Egypt's wheat imports are forecast to climb in the 2024/25 marketing year as the country's economy stabilizes and access to foreign currency improves, according to a report by the Foreign Agricultural...

Corn Prices Green to Start Wednesday

Corn is trading ½ cent to a penny higher early on Wednesday. The Tuesday action in the corn market saw futures close mixed with 2023 and 2024 crop up 1 ¼ to 3 ¼ cents Contracts for the ’25 crop and...

ZCK24 : 437-4 (-1.24%)
ZCPAUS.CM : 4.2198 (-1.28%)
ZCN24 : 448-4 (-0.88%)
ZCZ24 : 472-2 (-0.53%)
ZCPZ24US.CM : 4.4109 (-0.56%)
Soybeans Higher Following Overnight Trade

Soybeans are up 1 ½ to 3 cents after a round of overnight back and forth trade. Futures posted gains of as little as a fraction to as much as 6 ¼ cents on Tuesday. Soymeal turned around on midday weakness...

ZMN24 : 348.9 (+0.81%)
ZLN24 : 45.38 (-1.09%)
ZSK24 : 1167-2 (-0.02%)
ZSPAUS.CM : 11.1511 (-0.01%)
ZSN24 : 1182-2 (+0.02%)
ZSX24 : 1175-4 (+0.13%)
ZSPX24US.CM : 11.1513 (+0.14%)
Wheat Mixed on Wednesday Morning

The wheat futures complex is mixed this morning, with KC leading higher, CBT heading lower, and MPLS unch. They continued this week’s rally on Tuesday. Chicago contracts were up 8 to 15 ¼ cents on the...

ZWK24 : 593-6 (+1.50%)
ZWN24 : 612-0 (+1.53%)
KEK24 : 624-4 (+2.59%)
KEN24 : 629-2 (+2.44%)
MWK24 : 678-4 (+1.80%)
Shootin' the Bull about getting full

Futures traders were quick to relinquish their buying today.  I think that when you delve inside the business, you'll find that importers are no longer chasing the bid for imported inventory.

Wheat Bottom Came Right At A 78.6% Fibonacci Retracement, 50 Cent Rally Follows

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

ZWK24 : 593-6 (+1.50%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 302.0
1st Resistance Point 299.0
Last Price 296.0s
1st Support Level 293.0
2nd Support Level 290.0
3rd Support Level N/A

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52-Week High 433.0
Fibonacci 61.8% 357.6
Fibonacci 50% 334.3
Fibonacci 38.2% 310.9
Last Price 296.0s
52-Week Low 235.5

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