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Soybean Meal Pit Sep '14 (SMU14)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Steady Ahead of Data Release

Friday morning action is showing soybeans fractionally mixed across the front months.  Futures headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts found some round number support at or above $12. Soymeal futures were down on Thursday, as contracts fell $1.70 to 6.80/ton. Soy Oil saw triple digit losses in the front months, with contracts down 60 to 115 points across the board.

Weekly Export Sales for old crop were 428,898 MY during the week that ended on May 2, a 4-week high. Unknown destinations was the buyer of 168,800 MT, with Egypt purchasing 70,800 MT. New crop sales were just 4,580 MT. Soy meal bookings were tallied at 209,266 MT for 23/24 and 19,209 MT for 24/25. Bean oil sales were seen at 11,581 MT, for the current MY, with 4,582 MT for next year.

Traders expect WASDE data today to leave 23/24 soybean carryout at 341 mbu, up 1 mbu from April. New crop numbers are expected to see a build to that, with an ending st... 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
08/29/14
Expiration Date
09/12/14 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
367.5 +11.02%
on 08/13/14
453.7 -10.07%
on 09/10/14
+42.8 (+11.72%)
since 08/12/14
3-Month
355.0 +14.93%
on 08/05/14
453.7 -10.07%
on 09/10/14
-10.9 (-2.60%)
since 06/12/14
52-Week
355.0 +14.93%
on 08/05/14
453.7 -10.07%
on 09/10/14
+23.0 (+5.97%)
since 09/12/13

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Most Recent Stories

More News
Wheat Rallying to Start Friday

The wheat complex is posting double digit higher trade on Friday morning. The bulls were defending well on on Thursday. Chicago contracts were up ¾ to 3 ¾ cents on the day. Kansas City futures closed...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 650-4 (+2.04%)
KEK24 : 675-6s (+2.66%)
KEN24 : 666-6 (+2.30%)
MWK24 : 708-2s (unch)
Corn Ticking Higher to Start Report Day

Corn prices are up 2 to 2 ½ cents this morning as the trade preps for today’s USDA reports. Futures closed out the Pre-WASDE trade session on Thursday with prices down 1 to 2 ¾ cents across most contracts....

ZCK24 : 443-4 (+0.17%)
ZCPAUS.CM : 4.3593 (+0.57%)
ZCN24 : 459-0 (+0.55%)
ZCZ24 : 482-2 (+0.47%)
ZCPZ24US.CM : 4.5295 (+0.50%)
Soybeans Steady Ahead of Data Release

Friday morning action is showing soybeans fractionally mixed across the front months. Futures headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts found...

ZMN24 : 373.7 (+0.21%)
ZLN24 : 42.90 (+0.61%)
ZSK24 : 1195-0 (+0.19%)
ZSPAUS.CM : 11.4663 (+0.03%)
ZSN24 : 1209-0 (+0.04%)
ZSX24 : 1200-4 (unch)
ZSPX24US.CM : 11.3880 (unch)
Grains: What Am I Looking for in USDA's Guesses Friday?

In my Morning Commentary, I took a look at what real fundamentals were for the Grains sector given its another USDA report day.

ICY00 : 433.11s (-0.41%)
ZSN24 : 1209-0 (+0.04%)
IWY00 : 578.14s (+0.58%)
WEAT : 6.05 (+1.01%)
Corn Squares Up Ahead of USDA Report

Corn futures closed out the Pre-WASDE trade session with contracts down 1 to 2 ¾ cents across most contracts. A few deferreds were steady to 1 ¼ cents higher. USDA issued a flash sale of 132,080 MT of...

ZCK24 : 443-4 (+0.17%)
ZCPAUS.CM : 4.3593 (+0.57%)
ZCN24 : 459-0 (+0.55%)
ZCZ24 : 482-2 (+0.47%)
ZCPZ24US.CM : 4.5295 (+0.50%)
Wheat Held Higher on Thursday

The wheat complex saw the bulls holding up on Thursday. Chicago contracts were up ¾ to 3 ¾ cents on the day. Kansas City futures closed with gains of 3 to 3 ¾ cents across most contracts. MPLS spring...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 650-4 (+2.04%)
KEK24 : 675-6s (+2.66%)
KEN24 : 666-6 (+2.30%)
MWK24 : 708-2s (unch)
Soybeans Drops into Thursday Close

Soybeans headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts held up at or above $12. Soymeal futures were down on the day, as contracts fell $1.70 to...

ZMN24 : 373.7 (+0.21%)
ZLN24 : 42.90 (+0.61%)
ZSK24 : 1195-0 (+0.19%)
ZSPAUS.CM : 11.4663 (+0.03%)
ZSN24 : 1209-0 (+0.04%)
ZSX24 : 1200-4 (unch)
ZSPX24US.CM : 11.3880 (unch)
Shootin' the Bull about definitive moves in feeders

A definitive move in the feeder cattle futures today is believed to have set the stage for further declines.  On the mid day cattle commentary, I noted a close above $255.22, or under $251.75 August,...

Wheat Pulling Away From Highs, Still Holding Midday Gains

The wheat complex has pulled back from the double digit strength we was earlier in the session but is still higher at midday. Chicago contracts are up 2 to 6 cents so far on the day. Kansas City futures...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 650-4 (+2.04%)
KEK24 : 675-6s (+2.66%)
KEN24 : 666-6 (+2.30%)
MWK24 : 708-2s (unch)
Soybeans Threating to Pull Back Below $12

Soybeans are struggling on Thursday, as contracts are down 10 to 17 cents at midday, and November threating the slip below $12. Soymeal futures are down $3.90 to $4.10/ton. Soy Oil is also falling at midday,...

ZMN24 : 373.7 (+0.21%)
ZLN24 : 42.90 (+0.61%)
ZSK24 : 1195-0 (+0.19%)
ZSPAUS.CM : 11.4663 (+0.03%)
ZSN24 : 1209-0 (+0.04%)
ZSX24 : 1200-4 (unch)
ZSPX24US.CM : 11.3880 (unch)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 410.7
1st Resistance Point 409.3
Last Price 408.0s
1st Support Level 407.3
2nd Support Level 406.7
3rd Support Level N/A

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52-Week High 453.7
Fibonacci 61.8% 416.0
Last Price 408.0s
Fibonacci 50% 404.3
Fibonacci 38.2% 392.7
52-Week Low 355.0

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