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Soybean Meal May '18 (ZMK18)

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Soybean Meal Futures Market News and Commentary

20 Cent Bounce for Friday Beans

Soybean futures closed 19 3/4 to 23 cents higher on Friday. For the Jan contract, that left soybeans a net 6 1/2 cents higher than Monday’s open and 14 ½ higher week/week. Jan beans traded with a 55 3/4 cent range during the week. Soymeal futures closed the last trade day of the week Nearby soybean futures $8.90 to $9.80 higher. BO was up by 69 to 88 points at the close on Friday. USDA’s cash B100 price for the week averaged $4.97/gal, compared to $5.37/gal last week. 

The weekly CoT report showed soybean spec traders were 15,931 contracts less net long through the week that ended 11/30. That was driven by both long liquidation and net new selling. The commercials reduced their short hedge for a 12,452 contract lighter net short of 166,754. In the products, CFTC reported managed money was 37,681 contracts net long for meal and 64,360 contracts net long in soy oil. That was a weekly reduction of 15.9k and 18k contracts respectively. 

Going into next Thursday’s WASDE repor... 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
$1,952/1,775
First Notice Date
04/30/18
Expiration Date
05/14/18 (expired)

Seasonal Chart

Soybean Meal May '18
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Nov 30, 2021

View Chart Details
Commercials - Long / Short
192,665 (-4,342)
277,051 (-28,878)
Non-Commercials - Long / Short
88,336 (-16,460)
27,215 (+4,690)
Producers - Long / Short
93,269 (-1,219)
269,856 (-20,133)
Swap Dealers - Long / Short
95,276 (+4,332)
3,075 (-1,290)
Managed Money - Long / Short
55,114 (-11,800)
17,503 (+4,573)
Other Reportables - Long / Short
33,222 (-4,660)
9,712 (+117)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
369.5 +5.49%
on 04/24/18
404.9 -3.73%
on 05/02/18
+7.0 (+1.83%)
since 04/13/18
3-Month
358.0 +8.88%
on 03/20/18
404.9 -3.73%
on 05/02/18
+14.3 (+3.81%)
since 02/15/18
52-Week
299.6 +30.11%
on 06/23/17
404.9 -3.73%
on 05/02/18
+74.8 (+23.75%)
since 05/15/17

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20 Cent Bounce for Friday Beans

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Soy Futures Down Double Digits

Nearby soybean futures are up another double digits through midday. Beans are 18 to 20 1/4 cents in the black so far, which for Jan has them at a net gain for the week. Soymeal is leading the way so far,...

RSH22 : 994.60s (+0.96%)
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ZSPAUS.CM : 12.3400 (+1.89%)
ZSH22 : 1271-2s (+1.70%)
ZSX21 : 1234-0s (+1.79%)
ZSPX21US.CM : 12.3270 (+1.90%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 391.3
1st Resistance Point 390.6
Last Price 389.8s
1st Support Level 388.3
2nd Support Level 386.7
3rd Support Level N/A

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52-Week High 404.9
Last Price 389.8s
Fibonacci 61.8% 364.7
Fibonacci 50% 352.3
Fibonacci 38.2% 339.8
52-Week Low 299.6

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