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Soybean Meal May '18 (ZMK18)

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Soybean Meal Futures Market News and Commentary

Soybeans Lower Overnight, Down 9 to 11 This morning

Futures are 9 to 11 cents lower to start the week. Front month soybean prices ended Friday with losses of 3 1/4 to 15 1/2 cents. August had the sharpest drop, but remained above the round number $14/bu at options expiration. Going into the weekend, soymeal prices were 2.7% weaker with a $10/ton drop in October contracts. Soybean oil helped minimize the damage, closing 66 to 115 points in the black. 

USDA’s biodiesel price for the week ending 7/23 was down by 11 cents to $5.89/gal (IA). 

Traders are expecting USDA to show soybean crop conditions steady to 1% higher in the combined Crop Progress report good/excellent categories. 

CFTC’s weekly CoT report showed soybean specs were net buyers on the week ending 7/20. The 11k new longs moved the group’s net position 13,101 contracts more long to 95,874 contracts. Commercial soybean traders added 18,918 hedge positions bringing their net short back up to 170,796 contracts. 

As for soymeal, CFTC data showed spec tra... 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
$3,630/3,300
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 Jul 20, 2021

View Chart Details
Commercials - Long / Short
192,820 (-2,586)
267,665 (+2,497)
Non-Commercials - Long / Short
86,062 (+2,698)
31,197 (-3,337)
Producers - Long / Short
96,781 (-1,568)
258,092 (+3,074)
Swap Dealers - Long / Short
89,375 (-592)
2,909 (-151)
Managed Money - Long / Short
47,327 (+2,445)
25,812 (-2,248)
Other Reportables - Long / Short
38,735 (+253)
5,385 (-1,089)
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

More Soybean Meal Quotes

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Wheat is trading 7 to 11 cents lower this morning after also being down on Friday. CBT SRW futures were 4 1/4 to 8 1/4 cents in the red. KC HRW futures closed the session 4 1/2 cents in the red, with Sept...

ZWU21 : 671-4 (-1.83%)
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Soybeans Lower Overnight, Down 9 to 11 This morning

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ZSPAUS.CM : 13.8692 (-1.14%)
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ZSPX21US.CM : 13.0695 (-0.76%)
Corn 3 to 4 Cents Lower Early Monday

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ZCPAUS.CM : 6.2281 (-2.76%)
ZCZ21 : 537-6 (-0.97%)
ZCZ21 : 537-6 (-0.97%)
ZCPZ21US.CM : 5.2082 (-3.35%)
Morning Comments; Monday, July 26th, 2021

Market Pressure Continues

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CLU21 : 71.93 (-0.19%)
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QAU21 : 74.14 (+0.05%)
LFQ21 : 601.00 (+0.33%)
NFQ21 : 92.540 (+4.64%)
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Commodity Futures Technical Levels

Key Levels for Corn and Soybean Futures

Grains: Grins & Groans - by Jim Roemer - VIDEO included

"Choppy" is an understatement

ZCU21 : 542-4 (-0.87%)
ZCZ21 : 537-6 (-0.97%)
ZSX21 : 1339-2 (-0.92%)
ZWU21 : 671-4 (-1.83%)
ZWZ21 : 680-4 (-1.87%)
MWU21 : 874-0 (-1.08%)
MWZ21 : 861-6 (-1.15%)
RSX21 : 877.00 (-0.72%)
CCU21 : 2,382 (+2.63%)
NGQ21 : 4.149 (+2.19%)
NGU21 : 4.128 (+2.13%)
TAGS : 25.50 (-1.22%)
DBA : 19.03 (+1.06%)
KCU21 : 210.35 (+11.30%)
KCZ21 : 213.30 (+11.12%)
JO : 58.48 (+8.76%)
L6U21 : 0.19090 (+0.10%)
^USDBRL : 5.22190 (+0.45%)

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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