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Soybean Meal Pit Dec '19 (SMZ19)

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Soybean Meal (Pit) Futures Market News and Commentary

Soy Meal Leading Soy Complex Charge on Thursday

Soybeans got a boost from the meal value on Thursday, with contracts up 14 to 34 ¼ cents across the board. Soymeal paved the way for the rally, with $8 to $15.90/ton gains. Soy Oil closed mixed, with nearby down 2 to 5 points and deferred steady to 2 points higher.

Export Sales data from this morning showed an improvement from the week prior at 413,997 MT of beans sold in the week ending on 4/25. Egypt was the buyer of 146,000 MT, with 112,000 MT sold to Indonesia. USDA also reported new crop bookings at just 7,000 MT. Soybean meal bookings were below the trade range of estimates at just 131,012 MT, with bean oil bookings at a net sale of 7,195 MT.

Census data from March was released this morning, as bean shipments were tallied at 3.05 MMT (112.2 mbu), a drop of 2.6% from last year. Shipments to China were at a 12 year high for the month of 1.767 MMT. Meal exports to all destinations were a all time high for any month at 1.49 MMT. As US bean oil inclusion rates slow down... 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
Expiration Date
12/13/19 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
290.9 +1.58%
on 11/29/19
307.1 -3.78%
on 11/15/19
-8.6 (-2.83%)
since 11/13/19
3-Month
290.9 +1.58%
on 11/29/19
310.9 -4.95%
on 10/14/19
-6.0 (-1.99%)
since 09/13/19
52-Week
290.9 +1.58%
on 11/29/19
334.9 -11.76%
on 05/30/19
-29.9 (-9.19%)
since 12/13/18

More Soybean Meal (Pit) Quotes

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Most Recent Stories

More News
Soy Meal Leading Soy Complex Charge on Thursday

Soybeans got a boost from the meal value on Thursday, with contracts up 14 to 34 ¼ cents across the board. Soymeal paved the way for the rally, with $8 to $15.90/ton gains. Soy Oil closed mixed, with...

ZMN24 : 364.9s (+4.56%)
ZLN24 : 43.24s (-0.05%)
ZSK24 : 1190-0s (+2.96%)
ZSPAUS.CM : 11.3975 (+2.79%)
ZSN24 : 1199-0s (+2.46%)
ZSX24 : 1187-6s (+1.95%)
ZSPX24US.CM : 11.2590 (+2.05%)
Wheat Comes Back to Post Thursday Strength

Wheat bulls held their ground on Thursday, with gains across the three exchanges. Kansas City futures were up 11 to 11 ½ cents across most contracts. Chicago contracts were 3 to 5 ¼ cents higher at...

ZWK24 : 586-4s (+0.86%)
ZWN24 : 604-2s (+0.83%)
KEK24 : 637-0s (+1.84%)
KEN24 : 636-4s (+1.84%)
MWK24 : 708-2s (+0.82%)
Corn Rallies into Close

Corn futures closed out the Thursday session with gains of 4 ½ to 9 cents across most contracts. Some precip is expected to make its way across the US over the next week, possibly putting a slow down...

ZCK24 : 452-0s (+1.97%)
ZCPAUS.CM : 4.3782 (+2.02%)
ZCN24 : 459-6s (+2.00%)
ZCZ24 : 479-4s (+1.43%)
ZCPZ24US.CM : 4.4915 (+1.53%)
Shootin' the Bull about volatility

Some are not familiar with what volatility is.  I think today's example will give you a good idea of how volatile the fat cattle futures market is.

Soy Meal Leading Soy Complex Charge on Thursday

Soybeans are posting solid midday strength of 20 to 36 cents. There were 386 contracts issued against May bean futures, and that brought the oldest long all the way up to 4/30/24. Of the 386, Bunge stopped...

ZMN24 : 364.9s (+4.56%)
ZLN24 : 43.24s (-0.05%)
ZSK24 : 1190-0s (+2.96%)
ZSPAUS.CM : 11.3975 (+2.79%)
ZSN24 : 1199-0s (+2.46%)
ZSX24 : 1187-6s (+1.95%)
ZSPX24US.CM : 11.2590 (+2.05%)
Wheat Bulls Feeling Weak in the Knees on Thursday

The wheat market is trying to hold some gains at midday. Kansas city is steady to 3 cents higher. There were again zero deliveries vs. KC HRW, with the oldest long subject to delivery now dated 12/6/23....

ZWK24 : 586-4s (+0.86%)
ZWN24 : 604-2s (+0.83%)
KEK24 : 637-0s (+1.84%)
KEN24 : 636-4s (+1.84%)
MWK24 : 708-2s (+0.82%)
Corn Higher at Midday, Despite Unimpressive Export Sales Data

Corn futures are up 5 to 6 cents at midday, holding the overnight gains for the most part. There were 223 contracts put out against May futures delivery overnight, all stopped by ADMIS customers. The oldest...

ZCK24 : 452-0s (+1.97%)
ZCPAUS.CM : 4.3782 (+2.02%)
ZCN24 : 459-6s (+2.00%)
ZCZ24 : 479-4s (+1.43%)
ZCPZ24US.CM : 4.4915 (+1.53%)
Wheat Heading Higher on Thursday Morning

The wheat market is posting Thursday morning strength following overnight trade. They closed mixed on Wednesday. Kansas City led the way lower, with contracts down 3 to 10 ¼ cents and May up ¾. Chicago...

ZWK24 : 586-4s (+0.86%)
ZWN24 : 604-2s (+0.83%)
KEK24 : 637-0s (+1.84%)
KEN24 : 636-4s (+1.84%)
MWK24 : 708-2s (+0.82%)
Corn Posting Thursday Morning Strength Following Rains

Corn prices are up 5 to 7 cents this morning ahead of the USDA weekly Export Sales report. Futures closed out the Wednesday session getting some spark higher. Contracts were fractionally to 4 cents higher...

ZCK24 : 452-0s (+1.97%)
ZCPAUS.CM : 4.3782 (+2.02%)
ZCN24 : 459-6s (+2.00%)
ZCZ24 : 479-4s (+1.43%)
ZCPZ24US.CM : 4.4915 (+1.53%)
Soybeans Rallying in Overnight Trade

Soybeans are trading 12 to 15 ½ cents higher following a bout of overnight strength. Bean futures rounded out the Wednesday session 4 ½ to 10 ¼ cents higher. Soymeal continued its weakness, with contracts...

ZMN24 : 364.9s (+4.56%)
ZLN24 : 43.24s (-0.05%)
ZSK24 : 1190-0s (+2.96%)
ZSPAUS.CM : 11.3975 (+2.79%)
ZSN24 : 1199-0s (+2.46%)
ZSX24 : 1187-6s (+1.95%)
ZSPX24US.CM : 11.2590 (+2.05%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 295.5
1st Resistance Point 295.5
Last Price 295.5s
1st Support Level 295.5
2nd Support Level 295.5
3rd Support Level N/A

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52-Week High 334.9
Fibonacci 61.8% 318.1
Fibonacci 50% 312.9
Fibonacci 38.2% 307.7
Last Price 295.5s
52-Week Low 290.9

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