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Soybean Meal Aug '21 (ZMQ21)

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Soybean Meal Futures Market News and Commentary

Soybeans Falter to Weakness on Wednesday

Soybeans faded the earlier morning strength, as contracts were mixed but well off the highs. Futures closed with contracts anywhere from down 1 ½ to up a penny. Soymeal posted some strength on the day, with contracts 80 cents to $3.70/ton higher.  Soy Oil was back down to close with 41 to 65 point losses on the session. 

Soybean export bookings for the week that ended on April 18 are seen in a range of 300,000-600,000 MT for old crop, with 0-300,000 MT expected for new crop. The trade also estimates meal sales in a range of 100,000 to 450,000 MT in sales, with soy oil bookings at a net reduction of 5,000 to sales of 20,000 MT. 

USDA did issue a corrected report to the flash sale announcement from Friday, indicating Mexico, not unknown, was the buyer of 121,500 MT of soybeans (13,500 MT for 23/24 and 108,000 MT for 24/25). 

May 24 Soybeans  closed at $11.66, down 1 1/2 cents,

Nearby Cash  was $11.14 7/8, down 1 1/2 cents,

Jul 24 Soybeans  closed at $11.8... 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
$2,090/1,900
First Notice Date
07/30/21
Expiration Date
08/13/21 (expired)

Seasonal Chart

Soybean Meal Aug '21
Average Price Chart for 5 Prior Aug Contracts

Commitment of Traders Positions as of Apr 16, 2024

View Chart Details
Commercials - Long / Short
223,843 (+511)
226,195 (+5,809)
Non-Commercials - Long / Short
102,248 (+11,268)
115,080 (+2,038)
Producers - Long / Short
121,101 (-785)
218,857 (+8,009)
Swap Dealers - Long / Short
99,528 (+3,434)
4,124 (-62)
Managed Money - Long / Short
82,325 (+11,524)
92,062 (-1,513)
Other Reportables - Long / Short
19,923 (-256)
23,018 (+3,551)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
347.3 +3.11%
on 07/26/21
371.5 -3.61%
on 07/21/21
+1.6 (+0.45%)
since 07/13/21
3-Month
340.5 +5.17%
on 06/24/21
425.9 -15.92%
on 05/14/21
-58.6 (-14.06%)
since 05/13/21
52-Week
302.6 +18.34%
on 08/14/20
449.5 -20.33%
on 05/12/21
+54.2 (+17.83%)
since 08/13/20

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Soybeans Falter to Weakness on Wednesday

Soybeans faded the earlier morning strength, as contracts were mixed but well off the highs. Futures closed with contracts anywhere from down 1 ½ to up a penny. Soymeal posted some strength on the day,...

ZMN24 : 349.2s (+0.90%)
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ZSPAUS.CM : 11.1383 (-0.13%)
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ZSPX24US.CM : 11.1413 (+0.05%)
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Soybeans Retreating from Highs at Midday

Soybeans prices are showing 3 to 5 cent gains in the nearbys on Wednesday. Soymeal is posting strength to lead the complex higher, up $4.80 to $5.20/ton, with Soy Oil back down 59 to 63 points. USDA did...

ZMN24 : 349.2s (+0.90%)
ZLN24 : 45.27s (-1.33%)
ZSK24 : 1166-0s (-0.13%)
ZSPAUS.CM : 11.1383 (-0.13%)
ZSN24 : 1181-4s (-0.04%)
ZSX24 : 1174-4s (+0.04%)
ZSPX24US.CM : 11.1413 (+0.05%)
Corn Turns Lower Following Drop to Ethanol Production

Corn futures are pulling back in the front months on Wednesday, with losses of 1 to 2 cents. New Crop December is up ½ cent at midday. EIA’s weekly petroleum report tallied ethanol production at 954,000...

ZCK24 : 437-6s (-1.19%)
ZCPAUS.CM : 4.2243 (-1.17%)
ZCN24 : 448-4s (-0.88%)
ZCZ24 : 472-6s (-0.42%)
ZCPZ24US.CM : 4.4159 (-0.45%)
Wheat Sitting at 2-Month Highs

The wheat complex is continuing to rally at midday, nearing the highest prices since February. Kansas City continues to lead the charge, with gains of 13 to 17 cents. Chicago contracts are up 10 to 13...

ZWK24 : 594-4s (+1.62%)
ZWN24 : 613-0s (+1.70%)
KEK24 : 624-2s (+2.55%)
KEN24 : 630-0s (+2.56%)
MWK24 : 679-0s (+1.88%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 358.1
2nd Resistance Point 358.1
1st Resistance Point 358.1
Last Price 358.1s
1st Support Level 358.1
2nd Support Level 358.1
3rd Support Level 358.1

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52-Week High 449.5
Fibonacci 61.8% 393.4
Fibonacci 50% 376.0
Fibonacci 38.2% 358.7
Last Price 358.1s
52-Week Low 302.6

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