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Soybean Meal Mar '10 (ZMH10)

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Soybean Meal Futures Market News and Commentary

Soybeans Hold Gains Despite Less Friendly USDA Numbers

Bean futures saw Friday action heading higher into the weekend, as contracts were up anywhere from 1 ¾ to 12 ¼ cents across the board. Soymeal futures were down $1-$2.40/ton. Soy Oil was in rally mode to end the week, with contracts up 104 to 180 points. 

Weekly data from the CFTC showed large money managers in soybean futures + options slashing their net short position by 107,783 contracts as of May 7th, to just 41,453 contracts. That was the largest one week (Tuesday/Tuesday) move for specs on record. Data from the commercial side implied increased producer selling, as they flipped to a net short position of 46,889 contracts, an 84,464 contract move.

The monthly WASDE update this morning saw WAOB leave US 23/24 ending stocks unchanged at 340 mbu. The new crop S&D saw a building of stocks yr/yr by 105 mbu to 445 mbu, in line with estimates. Production was as expected at 4.45 bbu, with the planted acreage at 86.5 million acres and trend yield of 52 bpa.

For the wor... 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
Expiration Date
03/12/10 (expired)

Seasonal Chart

Soybean Meal Mar '10
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of May 7, 2024

View Chart Details
Commercials - Long / Short
182,605 (-9,068)
278,010 (+37,229)
Non-Commercials - Long / Short
139,373 (+8,633)
65,403 (-33,218)
Producers - Long / Short
89,745 (-9,870)
269,224 (+34,275)
Swap Dealers - Long / Short
88,423 (-132)
4,349 (+2,020)
Managed Money - Long / Short
121,799 (+9,538)
31,823 (-33,753)
Other Reportables - Long / Short
17,574 (-905)
33,580 (+535)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
249.2 +0.80%
on 03/11/10
289.6 -13.26%
on 02/23/10
-28.8 (-10.29%)
since 02/12/10
3-Month
249.2 +0.80%
on 03/11/10
316.6 -20.66%
on 12/15/09
-52.7 (-17.34%)
since 12/11/09
52-Week
249.2 +0.80%
on 03/11/10
333.4 -24.66%
on 06/11/09
-5.9 (-2.29%)
since 03/12/09

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Most Recent Stories

More News
Hogs and Cattle Eke Out Small Gains

Feeders slightly lower

Pure Hedge - Livestock and Grain

Bearish WASDE For Soybeans. I Would Not Want To Be Long.

Wheat Bulls Punch Higher on Friday as Chicago Hits 5 Month High

The wheat complex saw stronger trade on Friday, with assistance from some bull friendly USDA numbers. Chicago contracts were up 18 ¼ to 26 cents across most active contracts. Kansas City futures were...

ZWK24 : 645-6s (+4.20%)
ZWN24 : 663-4s (+4.08%)
KEK24 : 697-2s (+3.18%)
KEN24 : 673-2s (+3.30%)
MWK24 : 708-2s (unch)
Corn Heads Into the Weekend on a High Note

Corn futures posted gains of 4 ¼ to 13 ¼ cents on the Friday session. Futures closed out the day near the highs, following the release of some bull friendly USDA data. In the Friday afternoon Commitment...

ZCK24 : 455-6s (+2.94%)
ZCPAUS.CM : 4.4617 (+2.93%)
ZCN24 : 469-6s (+2.90%)
ZCZ24 : 492-0s (+2.50%)
ZCPZ24US.CM : 4.6225 (+2.56%)
Soybeans Hold Gains Despite Less Friendly USDA Numbers

Bean futures saw Friday action heading higher into the weekend, as contracts were up anywhere from 1 ¾ to 12 ¼ cents across the board. Soymeal futures were down $1-$2.40/ton. Soy Oil was in rally mode...

ZMN24 : 371.9s (-0.27%)
ZLN24 : 44.44s (+4.22%)
ZSK24 : 1205-0s (+1.03%)
ZSPAUS.CM : 11.5612 (+0.86%)
ZSN24 : 1219-0s (+0.87%)
ZSX24 : 1205-6s (+0.44%)
ZSPX24US.CM : 11.4384 (+0.44%)
Shootin' the Bull about recognition

In my opinion, some changes were noticed this week.  Of the one most notable was further recognition of the agenda in place by others.  As the impact from becomes more obvious, it has begun to make cattle...

Grain Spreads: Xmas in May

Corn Gets a Needed Boost

Wheat Trading Double Digits Higher Following Data Dump

The wheat complex is posting strong double digit gains on Friday. Chicago contracts are up 16 to 17 cents across the nearbys. Kansas City futures are trading 16 cents to the upside at midday. MPLS spring...

ZWK24 : 645-6s (+4.20%)
ZWN24 : 663-4s (+4.08%)
KEK24 : 697-2s (+3.18%)
KEN24 : 673-2s (+3.30%)
MWK24 : 708-2s (unch)
Corn Rallying with Help from USDA Numbers

Corn futures are rallying post-USDA release on Friday, as contracts are up anywhere from 8 to 10 cents across most nearby months. This morning’s USDA WASDE report showed the old crop US stocks dropping...

ZCK24 : 455-6s (+2.94%)
ZCPAUS.CM : 4.4617 (+2.93%)
ZCN24 : 469-6s (+2.90%)
ZCZ24 : 492-0s (+2.50%)
ZCPZ24US.CM : 4.6225 (+2.56%)
Soybeans Holding Above UNCH at Midday Despite Less Friendly USDA Data

Bean futures are up 2 to 4 cents across the front months on Friday, despite not much in terms of bull friendly numbers from USDA. Soymeal futures are down $2.60-$3.80/ton. Soy Oil is posting strong gains...

ZMN24 : 371.9s (-0.27%)
ZLN24 : 44.44s (+4.22%)
ZSK24 : 1205-0s (+1.03%)
ZSPAUS.CM : 11.5612 (+0.86%)
ZSN24 : 1219-0s (+0.87%)
ZSX24 : 1205-6s (+0.44%)
ZSPX24US.CM : 11.4384 (+0.44%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 251.6
1st Resistance Point 251.4
Last Price 251.2s
1st Support Level 250.8
2nd Support Level 250.4
3rd Support Level N/A

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52-Week High 333.4
Fibonacci 61.8% 301.2
Fibonacci 50% 291.3
Fibonacci 38.2% 281.4
Last Price 251.2s
52-Week Low 249.2

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