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Soybean Meal May '18 (ZMK18)

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Soybean Meal Futures Market News and Commentary

Soybeans Giveback More on Friday

Soybean prices for this week topped on Wednesday with a fade into the weekend. Thursday and Friday drops were not enough to offset the early week gains, as beans go home 2 3/4 cents higher than last Friday’s close. However, November was 29 cents below the midweek high. Soymeal futures went into the weekend with $1.80 to $3.40 gains, which for December completed the week with a $10.30 gain. Soybean oil futures were 49 to 53 points in the red at the bell on Friday. Crude Oil futures rallied through the afternoon recovering from the earlier pullback this week and took the rally to $84+/bbl. USDA’s National Daily Ethanol report showed a 70 cent/gal jump in biodiesel price through the week that ended 10/22. The average price in IA is now $5.72/gal.

Commitment of Traders data showed bean spec traders were 18,165 contracts net long on 10/19. That was down by another 10.9k contracts reflected net new selling. Commercial soybean traders reduced their hedges through the week, leaving th... Read more

Contract Specifications

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Contract
Soybean Meal
Contract Size
100 tons (2,000 pounds per ton)
Tick Size
10 cents per ton ($10.00 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
CBOT
Point Value
$100
Margin/Maintenance
$1,925/1,750
First Notice Date
04/30/18
Expiration Date
05/14/18 (expired)

Seasonal Chart

Soybean Meal May '18
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Oct 19, 2021

View Chart Details
Commercials - Long / Short
214,800 (+7,133)
246,988 (+21,265)
Non-Commercials - Long / Short
87,127 (+3,840)
78,013 (-7,861)
Producers - Long / Short
115,898 (+3,891)
231,840 (+18,056)
Swap Dealers - Long / Short
84,817 (-405)
1,063 (-438)
Managed Money - Long / Short
41,431 (+1,864)
73,753 (-6,007)
Other Reportables - Long / Short
45,696 (+1,976)
4,260 (-1,854)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
369.5 +5.49%
on 04/24/18
404.9 -3.73%
on 05/02/18
+7.0 (+1.83%)
since 04/13/18
3-Month
358.0 +8.88%
on 03/20/18
404.9 -3.73%
on 05/02/18
+14.3 (+3.81%)
since 02/15/18
52-Week
299.6 +30.11%
on 06/23/17
404.9 -3.73%
on 05/02/18
+74.8 (+23.75%)
since 05/15/17

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Soybeans Giveback More on Friday

Soybean prices for this week topped on Wednesday with a fade into the weekend. Thursday and Friday drops were not enough to offset the early week gains, as beans go home 2 3/4 cents higher than last Friday’s...

CLZ21 : 83.76s (+1.53%)
ZSX21 : 1220-4s (-0.29%)
ZSPAUS.CM : 11.7679 (-0.32%)
ZSF22 : 1230-6s (-0.22%)
ZSX21 : 1220-4s (-0.29%)
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Soy Extending Losses

Bean futures are down another 2 1/4 to 3 3/4 cents nearby through Friday’s midday. The new crop futures are down harder, with 8 1/2 to 9 1/4 cent losses – leaving the Nov to Nov spread at just a 3...

CLZ21 : 83.76s (+1.53%)
ZSX21 : 1220-4s (-0.29%)
ZSPAUS.CM : 11.7679 (-0.32%)
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ZSX21 : 1220-4s (-0.29%)
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ZWZ21 : 756-0s (+1.99%)
ZWPAES.CM : 7.0620 (+2.13%)
KEZ21 : 774-0s (+3.51%)
KEPAWS.CM : 7.5269 (+3.69%)
MWZ21 : 1013-0s (+2.82%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 391.3
1st Resistance Point 390.6
Last Price 389.8s
1st Support Level 388.3
2nd Support Level 386.7
3rd Support Level N/A

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52-Week High 404.9
Last Price 389.8s
Fibonacci 61.8% 364.7
Fibonacci 50% 352.3
Fibonacci 38.2% 339.8
52-Week Low 299.6

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