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Soybean Meal May '20 (ZMK20)

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Soybean Meal Futures Market News and Commentary

Beans Fall Back Close Firm

Front month beans closed fractionally mixed on Tuesday. The 2020 contracts held on to some gains, and in delivery August closed up by 1 1/2 cents. The deferred contracts closed fractionally lower. CmdtyView’s national average soybean cash price is $8.24 today, for a basis of 54 cents under August. In the WCB, cmdtyView data suggest the cash price is 34 cents below the ECB bean price at $8.12 /bu. Meal futures also fell back in the afternoon, closing near the lows down by as much as 30 cents/ton. Bean oil futures ended the Tuesday session 11 to 18 points in the red. USDA announced the sale of 132,000 MT of new crop soybeans to China, this morning. Ahead of USDA’s August reports, traders anticipate a higher bean yield of 51.2 bpa on average. The average pre-report estimate for new crop production is 4.259 bbu. Analysts expect a 101 mbu bump to new crop stocks, with the average of estimates at 526.3 mbu. CONAB lowered their soybean production estimate slightly to 120.883 MMT. USDA’s es... 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
$1,100/1,000
First Notice Date
04/30/20
Expiration Date
05/14/20 (expired)

Seasonal Chart

Soybean Meal May '20
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Aug 4, 2020

View Chart Details
Commercials - Long / Short
249,101 (+8,822)
272,950 (+2,098)
Non-Commercials - Long / Short
81,560 (+2,496)
70,879 (+6,720)
Producers - Long / Short
144,179 (+4,818)
247,633 (+5,857)
Swap Dealers - Long / Short
90,810 (+4,890)
11,205 (-2,873)
Managed Money - Long / Short
43,959 (+1,379)
63,817 (+2,418)
Other Reportables - Long / Short
37,601 (+1,117)
7,062 (+4,302)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
278.8 +2.30%
on 04/29/20
294.7 -3.22%
on 04/16/20
-2.3 (-0.80%)
since 04/14/20
3-Month
278.8 +2.30%
on 04/29/20
336.3 -15.19%
on 03/24/20
-11.4 (-3.84%)
since 02/14/20
52-Week
278.8 +2.30%
on 04/29/20
336.6 -15.27%
on 06/04/19
-25.6 (-8.24%)
since 05/14/19

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Beans Trading Higher so far

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Grains Report 08/11/2020

MORNING GRAINS COMMENTS Jack Scoville Tuesday, August 11, 2020 Price Futures Group, CBOT Chicago, IL (312) 264-4322 jscoville@pricegroup.com JSL, SA de [...]

Barchart Trading Guide

The Barchart Trading Guide is a Sell Signal with a Soft Signal Strength.

Key Turning Points

2nd Resistance Point 285.2
1st Resistance Point 285.2
Last Price 285.2s
1st Support Level 285.2
2nd Support Level 285.2

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52-Week High 336.6
Fibonacci 61.8% 314.5
Fibonacci 50% 307.7
Fibonacci 38.2% 300.9
Last Price 285.2s
52-Week Low 278.8

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