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Soybean Meal Pit Aug '17 (SMQ17)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Pull From High, Still Hold Gains

Soybeans closed with contracts 1 ¼ to 4 ¾ cents higher on the Monday session despite showing double digit gains earlier in the day. Soymeal was in rally mode, as contracts were up $6.40 to $9.60/ton. Soy Oil is crept lower, with contracts down 88 to 117 points. A Wynnewood, OK refinery caught fire over the weekend. The fire was extinguished, though there is no known damage reported at this time

The weekly Monday morning Export Inspections report showed just 250,332 MT of soybeans shipped in the week that ended on April 25. That was a 41.9% drop from the previous week and down 38.6% from the same week in 2023. The lead buyer was Japan at 84,142 MT, with 77,696 MT headed to Indonesia, as just 9,257 MT head on its way to China. Cumulative export shipments this marketing year have been 38.748 MMT (1.424 bbu), which is 18.4% below last year during the same period.

Producers were busy getting the crop in the ground last week with 18% of the US soybean acres planted on 4/28, a... Read more

Contract Specifications

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Contract
Soybean Meal [Pit]
Contract Size
100 tons (2,000 pounds per ton)
Tick Size
10 cents per ton ($10.00 per contract)
Trading Hours
8:30a.m. - 1:15p.m. CST
Exchange
CBOT
Point Value
$100
Margin/Maintenance
$2,090/1,900
First Notice Date
06/29/18
Expiration Date
08/14/17 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
294.2 +0.71%
on 08/10/17
330.5 -10.35%
on 07/20/17
-27.4 (-8.46%)
since 07/14/17
3-Month
294.2 +0.71%
on 08/10/17
338.7 -12.52%
on 07/11/17
-17.7 (-5.64%)
since 05/12/17
52-Week
294.2 +0.71%
on 08/10/17
351.5 -15.70%
on 02/15/17
-20.0 (-6.32%)
since 08/12/16

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Most Recent Stories

More News
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Corn Down on Tuesday Morning

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Soybeans Slip Lower Following Rapid Planting Pace

Soybeans are posting 2 to 3 cent lower trade following the overnight session. They closed with contracts 1 ¼ to 4 ¾ cents higher on the Monday session despite showing double digit gains earlier in the...

ZMN24 : 358.9 (+1.30%)
ZLN24 : 43.27 (-2.48%)
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ZSN24 : 1180-0 (-0.17%)
ZSX24 : 1176-2 (-0.15%)
ZSPX24US.CM : 11.1536 (-0.19%)
World Bank Projects Food Price Decline, But Flags Geopolitical and Climate Risks

The World Bank anticipates a decline in global food prices throughout 2024 and 2025, primarily driven by lower prices for grains and oils. However, the latest report from the bank warns of potential risks,...

Corn Leaks Lower into Close, USDA Reports Rapid Planting Pace

Corn futures ended the Monday session with contracts fractionally to 1 ¼ cents lower across most contracts. Tuesday is first notice data for May corn futures. Export Inspections data from FGIS showed...

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ZCPAUS.CM : 4.2433 (-0.21%)
ZCN24 : 447-4 (-0.39%)
ZCZ24 : 471-4 (-0.26%)
ZCPZ24US.CM : 4.3945 (-0.47%)
Chicago Leads Wheat Pullback

Wheat futures backed off in the winter wheat contracts to start off the week. Chicago contracts were down 4 ½ to 13 ¾ cents on the session. Kansas City was down 1 ¼ to 3 ¾ cents across most contracts....

ZWK24 : 579-4 (-1.82%)
ZWN24 : 598-0 (-1.73%)
KEK24 : 637-6 (-0.93%)
KEN24 : 639-2 (-1.73%)
MWK24 : 713-4 (-0.24%)
Soybeans Pull From High, Still Hold Gains

Soybeans closed with contracts 1 ¼ to 4 ¾ cents higher on the Monday session despite showing double digit gains earlier in the day. Soymeal was in rally mode, as contracts were up $6.40 to $9.60/ton....

ZMN24 : 358.9 (+1.30%)
ZLN24 : 43.27 (-2.48%)
ZSK24 : 1158-4 (-0.19%)
ZSPAUS.CM : 11.1162 (-0.15%)
ZSN24 : 1180-0 (-0.17%)
ZSX24 : 1176-2 (-0.15%)
ZSPX24US.CM : 11.1536 (-0.19%)
Shootin' the Bull about not much of anything

Not much transpired today.  Traders just don't seem to be willing to produce premium on futures contract for the industry to dump cattle on them.  With beef production down 2.6% year over year, there...

Hogs Bounce Back After Weak Open

Hogs Close unchanged

Pure Hedge - Livestock and Grain

Sell into Strength. Ground Beef now being Tested for Bird Flu

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 296.3
1st Resistance Point 296.3
Last Price 296.3s
1st Support Level 296.3
2nd Support Level 296.3
3rd Support Level N/A

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52-Week High 351.5
Fibonacci 61.8% 329.6
Fibonacci 50% 322.9
Fibonacci 38.2% 316.1
Last Price 296.3s
52-Week Low 294.2

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