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Soybean Meal Jul '08 (ZMN08)

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Soybean Meal Futures Market News and Commentary

Soybean Pullback from 4-Month High

Overnight action has soybeans trading 5 ½ to 6 ¾ cents higher. They ended the Monday session with double digit gains and within a few cents of the day’s high. Contracts were up 15 ¾ to 33 ¾ cents across the board. Forecasts for heavy rain totals in Southern Brazil, on top of already flooded areas, with some beans still to be harvested was supportive. Soymeal was continuing last week’s rally, with futures up another $5.40 to 15.40/ton. Soy Oil was busy bouncing from last week’s contract lows and helping boost product value, as futures were up 32 to 76 points across the board.

There have still been zero deliveries against May soy meal.  There were 16 put out against May BO overnight, with May soybeans seeing none after heavier early deliveries were absorbed. 

The weekly Export Inspections report from FGIS put soybean shipments at 348,654 MT during the week that ended on 5/2. That was a 26.28% improvement vs. the week prior and down 12.4% from the same week last year. Egypt... 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
07/14/08 (expired)

Seasonal Chart

Soybean Meal Jul '08
Average Price Chart for 5 Prior Jul 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
397.2 +13.80%
on 06/24/08
456.8 -1.05%
on 07/14/08
+42.8 (+10.46%)
since 06/13/08
3-Month
322.2 +40.29%
on 05/01/08
456.8 -1.05%
on 07/14/08
+97.7 (+27.58%)
since 04/14/08
52-Week
233.0 +93.99%
on 08/16/07
456.8 -1.05%
on 07/14/08
+179.0 (+65.57%)
since 07/13/07

More Soybean Meal Quotes

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Most Recent Stories

More News
Wheat Slips Lower on Condition Improvement

Futures are heading lower in early Tuesday morning trade, fading Monday’s gains. The bulls were charging to rally all three exchanges on Monday. Chicago contracts ended the day with gains of as little...

ZWK24 : 635-0 (+0.43%)
ZWN24 : 637-2 (-1.77%)
KEK24 : 677-0 (-1.17%)
KEN24 : 656-0 (-2.85%)
MWK24 : 708-2s (unch)
Soybean Pullback from 4-Month High

Overnight action has soybeans trading 5 ½ to 6 ¾ cents higher. They ended the Monday session with double digit gains and within a few cents of the day’s high. Contracts were up 15 ¾ to 33 ¾ cents...

ZMN24 : 382.2 (-1.39%)
ZLN24 : 44.10 (+0.59%)
ZSK24 : 1230-0 (-0.38%)
ZSPAUS.CM : 11.8000 (-0.68%)
ZSN24 : 1240-4 (-0.66%)
ZSX24 : 1213-4 (-0.51%)
ZSPX24US.CM : 11.5167 (-0.54%)
Corn Slightly Lower on Tuesday Morning

Corn prices are down 1 ¾ cents across the front months on Tuesday morning. They quickly erased Monday’s overnight weakness once the day session began, as contracts rallied throughout the day. Futures...

ZCK24 : 459-4 (+0.55%)
ZCPAUS.CM : 4.4419 (-0.37%)
ZCN24 : 467-2 (-0.37%)
ZCZ24 : 486-6 (-0.36%)
ZCPZ24US.CM : 4.5722 (-0.38%)
Pure Hedge - Livestock and Grain

Grains Much Higher, as Feeders Fall.

Soybean Rally Leads to 4-Month High

Soybeans ended the Monday session withing a few cents from the day’s high. Contracts were up 15 ¾ to 33 ¾ cents across the board at the close. Forecasts for heavy rain totals in Southern Brazil, on...

ZMN24 : 382.2 (-1.39%)
ZLN24 : 44.10 (+0.59%)
ZSK24 : 1230-0 (-0.38%)
ZSPAUS.CM : 11.8000 (-0.68%)
ZSN24 : 1240-4 (-0.66%)
ZSX24 : 1213-4 (-0.51%)
ZSPX24US.CM : 11.5167 (-0.54%)
Wheat Rallies From Overnight Weakness as KC Hits 5 Month High

The wheat complex faced initial selling overnight, but bulls woke up with a vengeance to rally all three exchanges on Monday. Chicago contracts ended out the day with gains of as little of 10 ¼ cents...

ZWK24 : 635-0 (+0.43%)
ZWN24 : 637-2 (-1.77%)
KEK24 : 677-0 (-1.17%)
KEN24 : 656-0 (-2.85%)
MWK24 : 708-2s (unch)
Corn Rallies into Monday Close, USDA Confirms Slowdown to Planting Pace

Corn quickly erased the overnight weakness once the day session began, as contracts rallied throughout the day. Futures were up anywhere from 2 to 10 cents across the board, with the strength led by the...

ZCK24 : 459-4 (+0.55%)
ZCPAUS.CM : 4.4419 (-0.37%)
ZCN24 : 467-2 (-0.37%)
ZCZ24 : 486-6 (-0.36%)
ZCPZ24US.CM : 4.5722 (-0.38%)
Hogs Make New Low

Hog weakness continues

Commodities: Where Will Real Fundamentals Turn Bullish Next?

The commodity sector is heating up, with real fundamentals for a number of markets growing more bullish, as indicated by their forward curves.

CCN24 : 7,922 (+4.40%)
CLM24 : 78.24 (-0.31%)
ZMN24 : 382.2 (-1.39%)
Crop Progress

Crop Progress - 2024-05-06

ZSN24 : 1240-4 (-0.66%)
ZSPAUS.CM : 11.8000 (-0.68%)
ZSBAUS.CM : -0.6062 (-2.69%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,044s (+2.41%)
XTN24 : 4,679s (+0.39%)
ZCN24 : 467-2 (-0.37%)
ZCPAUS.CM : 4.4419 (-0.37%)
ZCBAUS.CM : -0.2306 (+0.35%)
XVN24 : 2,400s (+0.59%)
XEU24 : 61.48 (-0.02%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 466.4
1st Resistance Point 459.2
Last Price 452.0s
1st Support Level 442.4
2nd Support Level 432.8
3rd Support Level N/A

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52-Week High 456.8
Last Price 452.0s
Fibonacci 61.8% 371.3
Fibonacci 50% 344.9
Fibonacci 38.2% 318.5
52-Week Low 233.0

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