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Soybean Meal Dec '19 (ZMZ19)

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Soybean Meal Futures Market News and Commentary

Beans Fall Sharp on Monday

Soybean futures dropped double digits out of the weekend, falling by 12 3/4 to 14 1/2 cents on Veterans Day. Soybean meal is $4.30/ton lower at the start of the week. Bean oil stayed 8 points lower on Monday. Trade ideas for US harvest progress are in the 84-85% range for Tuesday’s weekly report. The Black Sea UkrAgroConsult, projects the Russian 2019/20 soybean production to be 4.3 MMT, and revised the Ukraine 100,000 MT higher to 3.7 MMT. EU imports of soybean meal are up 15% over last MY. The soybean meal is typically shipped to Spain to be converted into livestock feed; 45% hog feed, 31% poultry and 24% beef. US ending stocks from the WASDE were projected at 475 bbu. World bean carryout was bumped up to 95.42 MMT.

NOV 19 Soybeans closed at $9.05, down 14 1/2 cents,

JAN 19 Soybeans closed at $9.17, down 14 cents,

MAR 20 Soybeans closed at $9.30 1/2, down 13 1/2 cents,

MAY 20 Soybeans closed at $9.42 3/4, down 12 3/4 cents,

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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
$1,122/1,020
First Notice Date
11/29/19 (18 days)
Expiration Date
12/13/19 (32 days)

Seasonal Chart

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

Commitment of Traders Positions as of Nov 5, 2019

View Chart Details
Commercials - Long / Short
218,388 (+12,871)
224,960 (+3,671)
Non-Commercials - Long / Short
70,571 (-4,915)
82,707 (+3,125)
Producers - Long / Short
111,099 (+5,965)
194,515 (+1,883)
Swap Dealers - Long / Short
84,119 (+5,903)
7,275 (+785)
Managed Money - Long / Short
36,310 (-6,656)
73,631 (+2,150)
Other Reportables - Long / Short
34,261 (+1,741)
9,076 (+975)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
298.5 +0.70%
on 11/06/19
313.9 -4.24%
on 10/14/19
-10.2 (-3.28%)
since 10/11/19
3-Month
292.0 +2.95%
on 09/09/19
313.9 -4.24%
on 10/14/19
-3.1 (-1.02%)
since 08/09/19
52-Week
291.6 +3.09%
on 05/13/19
336.0 -10.54%
on 06/18/19
-18.1 (-5.68%)
since 11/09/18

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Beans Fall Sharp on Monday

Soybean futures dropped double digits out of the weekend, falling by 12 3/4 to 14 1/2 cents on Veterans Day. Soybean meal is $4.30/ton lower at the start of the week. Bean oil stayed 8 points lower on...

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Beans Stumble out of Weekend

Soybean futures are quite a bit lower after the weekend, dropping 12 1/2 to 13 1/2 cents at midday. Soybean meal is $4.10/ton lower to start the week. Bean oil is also lower, dropping 8 points at midday....

TFM Mid-day Ag Markets

Virtually all markets sagging today . . . cold weather subdues harvest

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 40% 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 305.5
1st Resistance Point 303.0
Last Price 300.6s
1st Support Level 299.2
2nd Support Level 297.9

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52-Week High 336.0
Fibonacci 61.8% 319.0
Fibonacci 50% 313.8
Fibonacci 38.2% 308.6
Last Price 300.6s
52-Week Low 291.6

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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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