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Soybean Meal Mar '17 (ZMH17)

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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
Margin/Maintenance
$2,090/1,900
First Notice Date
02/28/17
Expiration Date
03/14/17 (expired)

Seasonal Chart

Soybean Meal Mar '17
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
322.3 +0.31%
on 03/10/17
350.3 -7.71%
on 02/16/17
-16.2 (-4.77%)
since 02/14/17
3-Month
310.7 +4.06%
on 01/06/17
353.7 -8.59%
on 01/18/17
+6.1 (+1.92%)
since 12/14/16
52-Week
274.2 +17.91%
on 03/16/16
389.8 -17.06%
on 06/13/16
+43.3 (+15.46%)
since 03/14/16

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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...

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ZSX24 : 1205-6s (+0.44%)
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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...

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 326.2
1st Resistance Point 324.8
Last Price 323.3s
1st Support Level 322.6
2nd Support Level 321.8
3rd Support Level N/A

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52-Week High 389.8
Fibonacci 61.8% 345.6
Fibonacci 50% 332.0
Last Price 323.3s
Fibonacci 38.2% 318.4
52-Week Low 274.2

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