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Soybean Meal May '18 (ZMK18)

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Soybean Meal Futures Market News and Commentary

Soybeans Higher on Spillover from Corn, Narrowing Planting Window

Soybean futures saw 8 to 8 3/4 cent gains in most contracts on Friday, with July up 4.73% this week. Spillover from corn was supportive, along with forecasts calling for heavy rainfall totals in the ECB. Soymeal was up $1.80/ton, with bean oil 41 points lower. A Private export sale of 130,000 MT of soybeans to Unknown Destinations for 18/19 was reported this morning. An additional sale of 130,0000 MT of 18/19 beans to China was offset by a cancellation of 136,000 MT. Ahead of NOPA’s monthly crush update, analysts expect the report to show that members crushed 162.474 mbu of soybeans in May. Friday’s Commitment of Traders report showed money managers backing off their net short position in soybean futures and options by 2,201 contracts as of Tuesday to a net position of -91,155 contracts. Jul 19 Soybeans closed at $8.96 3/4, up 8 3/4 cents, Aug 19 Soybeans closed at $9.03, up 8 1/2 cents, Sep 19 Soybeans closed at $9.10, up 8 1/4 cents, Jan 20 Soybeans closed at $9.35, up 8 1/4 cents, Jul 19 Soybean Meal closed at $323.50, up $1.80, Jul 19 Soybean Oil closed at $27.61, down $0.41 --provided by Brugler Marketing & Management

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
$1,452/1,320
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 Jun 11, 2019

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Commercials - Long / Short
234,986 (-3,961)
282,433 (-6,639)
Non-Commercials - Long / Short
87,686 (-4,445)
55,308 (-3,387)
Producers - Long / Short
140,969 (-1,033)
252,520 (+1,744)
Swap Dealers - Long / Short
71,116 (+3,102)
7,012 (-2,353)
Managed Money - Long / Short
50,752 (-1,248)
43,621 (-3,695)
Other Reportables - Long / Short
36,934 (-3,197)
11,687 (+308)
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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Soybeans Higher on Spillover from Corn, Narrowing Planting Window

Soybean futures saw 8 to 8 3/4 cent gains in most contracts on Friday, with July up 4.73% this week. Spillover from corn was supportive, along with forecasts calling for heavy rainfall totals in the ECB....

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Soybeans Higher on Spillover from Corn

Soybean futures are trading 3 to 5 1/4 cents higher in the front months on Friday. Soymeal is yup $1.20/ton, with bean oil 25 points lower. A Private export sale of 130,000 MT of soybeans to Unknown Destinations...

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Barchart Technical Opinion

The Barchart Technical Opinion rating is a 40% Buy with a Weakening short term outlook on maintaining the current direction.

Longer term, the trend strength is Soft. Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 391.3
1st Resistance Point 390.6
Last Price 389.8s
1st Support Level 388.3
2nd Support Level 386.7

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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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InsideFutures Commentary

InsideFutures is a twice weekly newsletter that features a selection of the latest and best commodities commentary appearing on Barchart.com. Delivered every Wednesday and Friday morning to your inbox.

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