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Soybean Meal May '19 (ZMK19)

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Soybean Meal Futures Market News and Commentary

Soybeans Get Boost from Soy Oil

Soybean futures settled 1 to 1 3/4 cents higher on position squaring ahead of the 3-day holiday weekend. Meal futures were down $.70/ton but May soy oil was 34 points higher (worth almost 4 cents per bushel in product value). This morning’s weekly USDA Export Sales report confirmed net soybean sales of 382,100 MT for old crop and 21,100 MT for new crop. Meal sales were expected to be 125,000-325,000 MT, with soy oil at 8,000-30,000 MT. The actual meal bookings were on the high side of expectations at 295,300 MT, with soy oil at 24,200 MT. May 19 Soybeans closed at $8.80 1/2, up 1 1/2 cents, Jul 19 Soybeans closed at $8.94 1/4, up 1 3/4 cents, Aug 19 Soybeans closed at $9.00, up 1 1/2 cents, Sep 19 Soybeans closed at $9.04 3/4, up 1 1/4 cents, May 19 Soybean Meal closed at $303.20, down $.70, May 19 Soybean Oil closed at $28.80, up .34 --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
$1,320/1,200
First Notice Date
04/30/19 (10 days)
Expiration Date
05/14/19 (24 days)

Seasonal Chart

Soybean Meal May '19
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 16, 2019

View Chart Details
Commercials - Long / Short
216,951 (+4,201)
240,473 (+899)
Non-Commercials - Long / Short
87,253 (+895)
75,870 (+2,939)
Producers - Long / Short
129,944 (+491)
212,006 (-657)
Swap Dealers - Long / Short
67,859 (+1,356)
9,319 (-798)
Managed Money - Long / Short
53,687 (+572)
64,296 (+3,779)
Other Reportables - Long / Short
33,566 (+323)
11,574 (-840)
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Price Performance

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Period Period Low Period High Performance
1-Month
303.0 +0.07%
on 04/18/19
316.5 -4.20%
on 03/25/19
-6.6 (-2.13%)
since 03/18/19
3-Month
300.3 +0.97%
on 03/12/19
321.3 -5.63%
on 02/01/19
-15.4 (-4.83%)
since 01/18/19
52-Week
300.3 +0.97%
on 03/12/19
366.0 -17.16%
on 05/01/18
-56.5 (-15.71%)
since 04/18/18

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Happy Easter

watching the Weather

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 88% Sell with a Strongest short term outlook on maintaining the current direction.

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

The market is approaching oversold territory. Be watchful of a trend reversal.

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Key Turning Points

2nd Resistance Point 305.5
1st Resistance Point 304.3
Last Price 303.2s
1st Support Level 302.5
2nd Support Level 301.9

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52-Week High 366.0
Fibonacci 61.8% 340.9
Fibonacci 50% 333.2
Fibonacci 38.2% 325.4
Last Price 303.2s
52-Week Low 300.3

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