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Soybean Meal Pit Oct '16 (SMV16)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Post Double Digit Gains, Planting Pace Moving Along

Soybeans ended the Monday session with gains of 6 ½ to 20 cents across the board, led by the front months. Soymeal futures saw $1.30 to $5.30/ton gains across most contracts. Soy Oil helped the product value by rallying 71 to 105 points across the board. 

The US soybean crop was tallied at 52% planted as of May 19, a 17% move over the last week. That is now 3% above the 5-year average but lags the 61% pace from last year. NASS also pegged 26% of the crop emerged, 5% above the normal pace.

Export Inspections data from this morning showed just 184,128 MT of soybeans shipped during the week that ended on May 16, less than half of last week and a MY low. That was still up 8.3% from the same week last year. Destinations were spread out, with 58,966 MT headed to Japan, 32,831 MT to Mexico, and 24,091 MT to Indonesia. The marketing year to date inspections are now 39.75 MMT, a 17.6% drop from last year. 

Jul 24 Soybeans  closed at $12.48, up 20 cents,

Nearby Cash  w... 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
09/30/16
Expiration Date
10/14/16 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
294.5 +1.80%
on 10/12/16
313.7 -4.43%
on 09/16/16
-7.3 (-2.38%)
since 09/14/16
3-Month
294.5 +1.80%
on 10/12/16
370.8 -19.15%
on 07/18/16
-69.2 (-18.75%)
since 07/14/16
52-Week
266.7 +12.41%
on 02/26/16
409.3 -26.75%
on 06/10/16
-5.8 (-1.90%)
since 10/14/15

More Soybean Meal (Pit) Quotes

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Most Recent Stories

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Corn futures were rallying out of the 8:30 am CDT gates this morning, with strength across the wheat helping out. Contracts closed with gains of 2 to 8 ½ cents across the board. The Monday afternoon...

ZCN24 : 460-4s (+1.77%)
ZCPAUS.CM : 4.3673 (+1.93%)
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ZCPZ24US.CM : 4.5439 (+1.75%)
Soybeans Post Double Digit Gains, Planting Pace Moving Along

Soybeans ended the Monday session with gains of 6 ½ to 20 cents across the board, led by the front months. Soymeal futures saw $1.30 to $5.30/ton gains across most contracts. Soy Oil helped the product...

ZMN24 : 374.1s (+1.44%)
ZLN24 : 46.32s (+2.32%)
ZSN24 : 1248-0s (+1.63%)
ZSPAUS.CM : 11.8645 (+1.73%)
ZSQ24 : 1243-0s (+1.45%)
ZSX24 : 1216-6s (+1.12%)
ZSPX24US.CM : 11.5510 (+1.19%)
Wheat Rallies on Weather Risks to Start Week

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ZWN24 : 688-6s (+5.76%)
ZWU24 : 708-6s (+5.47%)
KEN24 : 696-6s (+5.29%)
KEU24 : 710-6s (+5.22%)
MWN24 : 739-2s (+3.90%)
Hogs Make New Low

Hogs make new low but end day higher

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Rationing was stepped up last week as packers cut the slaughter pace again, sending boxes to over $314.00 as of mid-day today.  Rationing will continue until more cattle are made available to produce...

Crop Progress

Crop Progress - 2024-05-20

ZSN24 : 1248-0s (+1.63%)
ZSPAUS.CM : 11.8645 (+1.73%)
ZSBAUS.CM : -0.6154 (+0.37%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 4,138s (+0.32%)
XTN24 : 4,661s (+0.34%)
ZCN24 : 460-4s (+1.77%)
ZCPAUS.CM : 4.3673 (+1.93%)
ZCBAUS.CM : -0.2376 (+1.21%)
XVN24 : 2,455s (-0.37%)
XEU24 : 62.95 (-0.11%)
Why May Is Not The Time To Assume You Know What Will Happen Next In The Grain Markets

Taking a look at why speaking in definitive terms about what the market will do in May can prove costly...

Soybeans Rallying Double Digits With Product Value Strength

Soybeans are starting off the week with some strength, as contracts are up anywhere from 15 to 20 cents across the front months. Soymeal futures are up $4.40. Soy Oil is posting triple digit gains, with...

ZMN24 : 374.1s (+1.44%)
ZLN24 : 46.32s (+2.32%)
ZSN24 : 1248-0s (+1.63%)
ZSPAUS.CM : 11.8645 (+1.73%)
ZSQ24 : 1243-0s (+1.45%)
ZSX24 : 1216-6s (+1.12%)
ZSPX24US.CM : 11.5510 (+1.19%)
Corn Starting Off Monday with Strength at Midday

Corn futures are heading higher to start the new week, with contracts rallying 8 to 8 ½ cents across the front months at midday. USDA’s Export Inspections report pegged 1.21 MMT of corn shipped during...

ZCN24 : 460-4s (+1.77%)
ZCPAUS.CM : 4.3673 (+1.93%)
ZCU24 : 471-0s (+1.84%)
ZCZ24 : 484-2s (+1.63%)
ZCPZ24US.CM : 4.5439 (+1.75%)
Wheat Shooting Higher on Weather Risks

The wheat complex is posting sharp gains so far on Monday. Chicago contracts are up 30 to 33 cents at midday. Kansas City futures are rallying 32 to 34 cents across the front months. MPLS spring wheat...

ZWN24 : 688-6s (+5.76%)
ZWU24 : 708-6s (+5.47%)
KEN24 : 696-6s (+5.29%)
KEU24 : 710-6s (+5.22%)
MWN24 : 739-2s (+3.90%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 299.8
1st Resistance Point 299.8
Last Price 299.8s
1st Support Level 299.8
2nd Support Level 299.8
3rd Support Level N/A

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52-Week High 409.3
Fibonacci 61.8% 354.8
Fibonacci 50% 338.0
Fibonacci 38.2% 321.2
Last Price 299.8s
52-Week Low 266.7

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