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Soybean Meal Dec '18 (ZMZ18)

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Soybean Meal Futures Market News and Commentary


Soybean futures are currently 2 to 2 1/2 cents higher than on Monday. They ended Monday with 5 to 7 cents losses. The weekly Export Inspections report indicated that 922,094 MT were exported in the week that ended on December 6. That was down 11.84% from the prior week and 25.83% lower than last year. Spec funds in soybean futures and options slashed their CFTC net short position by 46,269 contracts on 12/4 to a net position of -17,593 contracts. The average trade guess for USDA soybean ending stocks is 945 million bushels, with most assuming USDA has no evidence of Chinese purchases to justify a change in exports. Brazil’s ABIOVE estimated the country’s 18/19 soybean crop at 120.9 MMT, 1.4 larger than the previous number. --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. (Sun-Fri) CST
Exchange
CBOT
Point Value
$100
Margin/Maintenance
$1,595/1,450
First Notice Date
11/30/18
Expiration Date
12/14/18 (3 days)

Seasonal Chart

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

Commitment of Traders Positions as of Nov 27, 2018

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Commercials - Long / Short
242,291 (-4,504)
286,082 (-18,817)
Non-Commercials - Long / Short
88,554 (-10,856)
61,794 (+1,525)
Producers - Long / Short
140,715 (-3,473)
246,172 (-21,180)
Swap Dealers - Long / Short
70,565 (-1,237)
8,899 (+2,157)
Managed Money - Long / Short
49,591 (-3,680)
56,475 (+4,428)
Other Reportables - Long / Short
38,963 (-7,176)
5,319 (-2,903)
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Price Performance

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Period Period Low Period High Performance
1-Month
300.7 +2.69%
on 11/26/18
316.4 -2.40%
on 12/03/18
+3.2 (+1.05%)
since 11/09/18
3-Month
300.7 +2.69%
on 11/26/18
327.3 -5.65%
on 10/15/18
-7.4 (-2.34%)
since 09/11/18
52-Week
300.7 +2.69%
on 11/26/18
392.5 -21.32%
on 05/01/18
-22.7 (-6.85%)
since 12/11/17

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Most Recent Stories

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WASDE REPORT FOR 12/11/18

WASDE REPORT FOR 12/11/18

Reaction

Overreaction

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Corn futures are trading fractionally higher ahead of this morning’s monthly USDA supply/demand update. They closed Monday steady to 1 1/2 cents lower, with Dec up 1/4 cent ahead of Friday’s...

Soybeans Market Commentary

Soybean futures are currently 2 to 2 1/2 cents higher than on Monday. They ended Monday with 5 to 7 cents losses. The weekly Export Inspections report indicated that 922,094 MT were exported in the week...

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Soybeans Market Commentary

Soybean futures settled the day with 5 to 7 cents losses, ahead of Tuesday’s WASDE report. Nearby soy meal was down $1.20/ton, with soy oil 2 points higher. A private export sale of 125,000 MT of...

Wheat Market Commentary

Wheat futures saw 4 to 6 1/4 cent losses in most CBT and MPLS contracts, with KC fractionally to 1 3/4 cents lower. USDA’s weekly Export Inspections report showed that exporters shipped 418,460 MT...

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 48% Sell with a Average short term outlook on maintaining the current direction.

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

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Key Turning Points

2nd Resistance Point 310.3
1st Resistance Point 309.1
Last Price 308.2
1st Support Level 307.3
2nd Support Level 306.7

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52-Week High 392.5
Fibonacci 61.8% 357.4
Fibonacci 50% 346.6
Fibonacci 38.2% 335.8
Last Price 308.2
52-Week Low 300.7

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InsideFutures Commentary

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