Soybean Meal Pit May '24 (SMK24)
Soybean Meal (Pit) Futures Market News and Commentary
Soybeans futures closed the Friday session with 5 ¾ to 12 ¾ cent gains, as May was 24 cents higher this week. November was up 27 cents on the week. The cmdtyView national average Cash Bean price was up 13 1/2 cents at $11.37 3/4. Soymeal futures were steady to $2.10 higher, with May the exception, down $1.50, as May was down $3.50 on the week. Soy Oil futures were 29 to 93 points higher on Friday, as May was 474 points in the green this week.
Commitment of Traders data showed speculators in soybean futures and options trimming 7,602 contracts from their net long position as of April 28, taking the position to 185,282 contracts. Bean oil extended their record net long by 281 contracts to 165,725 contracts.
USDA’s monthly Fats & Oils report from Friday afternoon showed March soybean crush at 227.36 million bushels, shy of the 231.1 mbu estimate. That was still 6.15% above February and 9.98% above the same month in 2025. Marketing year crush is now 1.651 billion bushels, up... Read more
Bull Strangle Newsletter · 45 minutes ago
Markets don’t always follow their seasonal patterns—especially during geopolitical events. This analysis of RBOB gasoline shows how conflicts can temporarily...
Barchart · 54 minutes ago
Alphabet is ramping capital spending to unprecedented levels, but investors are largely shrugging because earnings and Cloud momentum are strong enough...
Bull Strangle Newsletter · 58 minutes ago
Two portfolios using the same strategy delivered different results. The reason wasn’t stock selection or timing—it was how close the call strikes were...
Barchart · 1 hour ago
As Taiwan Semiconductor Manufacturing Company cashes out of Arm Holdings, should you follow suit?
Barchart · Fri May 1, 6:00PM CDT
Starbucks is up 25% in 2026 while McDonald's slipped 4%. So why might McDonald's still be the smarter dividend buy? The numbers tell a story most investors...
Barchart · Fri May 1, 5:09PM CDT
Cotton futures closed the Friday session with contracts up 89 to 199 points higher, as July was up 483 points for the week. December was up 398 points....
Barchart · 53 minutes ago
Alphabet is ramping capital spending to unprecedented levels, but investors are largely shrugging because earnings and Cloud momentum are strong enough...
Barchart · 1 hour ago
As Taiwan Semiconductor Manufacturing Company cashes out of Arm Holdings, should you follow suit?
Barchart · Fri May 1, 6:00PM CDT
Starbucks is up 25% in 2026 while McDonald's slipped 4%. So why might McDonald's still be the smarter dividend buy? The numbers tell a story most investors...
Barchart · Fri May 1, 5:09PM CDT
Cotton futures closed the Friday session with contracts up 89 to 199 points higher, as July was up 483 points for the week. December was up 398 points....
Barchart · Fri May 1, 5:09PM CDT
Lean hog futures posted losses of 62 cents to $1.67 at the Friday close, with June slipping 62 cents on the week. USDA’s national base hog price was...
Barchart · Fri May 1, 5:09PM CDT
Soybeans futures closed the Friday session with 5 ¾ to 12 ¾ cent gains, as May was 24 cents higher this week. November was up 27 cents on the week. The...
Barchart · Fri May 1, 5:09PM CDT
Live cattle futures closed the Friday session with contracts down 40 cents to $1.02, as June was $7.77 on the week. Cash trade got kicked off early again...
Barchart · Fri May 1, 5:09PM CDT
The wheat complex closed Friday with most exchanges higher. Chicago SRW futures saw steady to 5 cent higher trade, as May was 16 ¼ cents in the green...
