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Soybean Meal Pit Jul '16 (SMN16)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Slightly Higher to Begin Thursday

Soybeans are posting fractional to 2 cent higher trade on Thursday morning. They slipped into the close, as contracts settled with losses of a penny to 4 ¾ cents after NOPA reported an ugly April crush number. Soymeal futures were down $1.60 to $2.70/ton at the close. Soy Oil was up 12 to 24 points as tighter NOPA stocks were reported.

The Wednesday morning NOPA report showed just 166.03 mbu of soybeans crushed during April, a sharp 15.46% from March (one less processing day) and well below the 183 mbu estimate heading in. That was also down 4.16% from a year ago and a 3-year low for April crush. Soybean oil stocks dropped to 1.75 billion lbs, down 5.2% from the end of March. 

USDA reported a private export sale of 180,000 MT of soybeans to unknown destinations on Wednesday morning, with 120,000 MT for old crop and 60,000 MT for new crop. Ahead of this Thursday morning Export Sales release, the trade estimates soybean sales for 23/24 at 300,000-550,000 MT, with new crop... 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
06/30/16
Expiration Date
07/14/16 (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
370.0 +3.05%
on 07/07/16
407.4 -6.41%
on 06/17/16
-27.3 (-6.68%)
since 06/14/16
3-Month
295.7 +28.95%
on 04/18/16
418.3 -8.85%
on 06/02/16
+88.4 (+30.18%)
since 04/14/16
52-Week
263.3 +44.82%
on 02/26/16
418.3 -8.85%
on 06/02/16
+43.2 (+12.78%)
since 07/14/15

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Most Recent Stories

More News
No Bull | The Five Spot

#5 | Big Bushels U.S. corn yields haven't hit/exceeded so-called trend (USDA’s initial print) since 2018 and although 2023 was a record-high yield at 177.3 - it fell well-below the 181.5 trend. In four...

Did yesterday’s selloff change the technical picture for corn?

Corn futures were under pressure the last few days, but was it enough to cause technical damage or is the trend still intact?

Soybeans Slightly Higher to Begin Thursday

Soybeans are posting fractional to 2 cent higher trade on Thursday morning. They slipped into the close, as contracts settled with losses of a penny to 4 ¾ cents after NOPA reported an ugly April crush...

ZMN24 : 370.5 (-0.32%)
ZLN24 : 44.27 (+1.65%)
ZSN24 : 1216-6 (+0.27%)
ZSPAUS.CM : 11.5433 (+0.32%)
ZSQ24 : 1217-4 (+0.10%)
ZSX24 : 1199-4 (-0.12%)
ZSPX24US.CM : 11.3768 (-0.14%)
Corn Back to Higher Trade on Thursday AM

Corn is trading 1 to 2 cents higher ahead of this morning’s Export Sales report. Futures faded the early gains on Wednesday, with contracts closing anywhere from 2 1/4 to 5 cents lower after July futures...

ZCN24 : 456-6 (-1.24%)
ZCPAUS.CM : 4.3271 (-1.48%)
ZCU24 : 467-4 (-1.22%)
ZCZ24 : 481-2 (-1.18%)
ZCPZ24US.CM : 4.5160 (-1.38%)
Wheat Reverting Higher on Thursday Morning

The wheat complex is heading higher across all three exchanges this morning. They quickly faded from the early double digit gains as losses were reported across the three exchanges on Wednesday. Chicago...

ZWN24 : 661-6 (-0.60%)
ZWU24 : 682-4 (-0.51%)
KEN24 : 675-2 (+0.04%)
KEU24 : 688-4 (-0.04%)
MWN24 : 728-4 (+0.21%)
Grain Markets: Will Global Production Issues Continue to Push Wheat Prices Higher?

In my interview today with Michelle Rook on AgWeb's Markets Now I spoke about the recent move higher in wheat, soybean, and corn prices. I also discussed crude oil, interest rates, and the cattle markets....

ZWK24 : 657-0s (-1.98%)
ZSN24 : 1216-6 (+0.27%)
ZCK24 : 453-6s (-1.04%)
LEM24 : 179.725 (+0.83%)
Shootin' the Bull about more beef and fewer cattle

Of the most interest is that we are currently producing more beef than last year with fewer cattle.  Of everything you can mention that has created this, you are correct.  It's taken everything possible...

Corn Falters to Weakness on Wednesday

Corn futures faded the early gains on Wednesday, with contracts closing anywhere from 2 1/4 to 5 cents lower. Weather through the weekend shows much of the WCB drier, with portions of the Southern ECB...

ZCN24 : 456-6 (-1.24%)
ZCPAUS.CM : 4.3271 (-1.48%)
ZCU24 : 467-4 (-1.22%)
ZCZ24 : 481-2 (-1.18%)
ZCPZ24US.CM : 4.5160 (-1.38%)
Soybeans Pushed Lower Following Bearish NOPA Data

Soybeans slipped into the close, as contracts settled with losses of a penny to 4 ¾ cents after NOPA reported an ugly April crush number. Soymeal futures were down $1.60 to $2.70/ton at the close. Soy...

ZMN24 : 370.5 (-0.32%)
ZLN24 : 44.27 (+1.65%)
ZSN24 : 1216-6 (+0.27%)
ZSPAUS.CM : 11.5433 (+0.32%)
ZSQ24 : 1217-4 (+0.10%)
ZSX24 : 1199-4 (-0.12%)
ZSPX24US.CM : 11.3768 (-0.14%)
Wheat Falls from Double Digit Morning Gains to End the Session Lower

The wheat complex quickly faded from the early double digit gains as losses were reported across the three exchanges on Wednesday. Chicago contracts posted losses of 6 ¾ to 11 cents across the board....

ZWN24 : 661-6 (-0.60%)
ZWU24 : 682-4 (-0.51%)
KEN24 : 675-2 (+0.04%)
KEU24 : 688-4 (-0.04%)
MWN24 : 728-4 (+0.21%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 381.3
1st Resistance Point 381.3
Last Price 381.3s
1st Support Level 381.3
2nd Support Level 381.3
3rd Support Level N/A

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52-Week High 418.3
Last Price 381.3s
Fibonacci 61.8% 359.1
Fibonacci 50% 340.8
Fibonacci 38.2% 322.5
52-Week Low 263.3

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