Soybean Meal Mar '18 (ZMH18)
Soybean Meal Futures Market News and Commentary
Friday trading closed the week with losses of less than 1%. Old crop futures were down 5 to 6 1/4 cents and new crop soybeans settled 1 to 4 1/4 cents lower. Soybean meal futures closed with $1.1 to $1.70/ton losses on Friday. Front month soy oil futures ended firm with losses of only 3 points. USDA’s mandatory reporting system this morning reported 132,000 MT of soybeans were sold to China, split 50/50 old/new crop. From the Export Sales report, soybean bookings totaled 847,252 MT on the week ending May 21. That was half of last week’s but double the same week last year. Bean bookings in the report were split 644k and 203k MT old and new crop. Soybean meal bookings were 127,221 MT, which was on the low end of trader estimates. The report showed soybean oil sales were well above expectations at 56,599 MT. Soy oil sales were down from last week’s sales, which were the 2nd highest for the MY, but still 61.2% above the same week from last year. The average analyst estimate ahead of Mon... Read more
- Grains Report 05/29/2020
DJ U.S. Export Sales: Weekly Sales Totals – May 29 For the week ended May 21, in thousand metric tons, except cotton in [...]
- As Rice Goes, So Goes Wheat?
In the old days...........
- Rains Move On But Cooler Temperatures Move In. The Corn & Ethanol Report 05/29/2020
We start off the day with Export Sales, Personal Income, Personal Spending, Goods Trade Balance Adv (Apr), PCE Price Index MoM & YoY (Apr), Core [...]...
- This Year Is Like A Box of Chocolats
From Commodit Insite..........
- Where Weather Matters Most (The Spider Knows) 5/28/2020
Jim Roemer's commodity opinion:
- Traders Await Trumps Response to China
Traders Await Trumps Response to China