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Soybean Meal Dec '19 (ZMZ19)

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Soybean Meal Futures Market News and Commentary

Soybean Market Higher Overnight

Soybean futures start off Wednesday 2 to 3 cents higher. Yesterday they rallied by 1 1/4 to 2 cents. Soybean meal was up $0.80/ton, and soybean oil gained 32 points to also add product value on Tuesday. The national average soybean basis was -0.6265 per cmdtyView, bringing the monthly average to -0.6638 Dec so far. The 13 day running trend is tightening, starting at the beginning of the month when the basis was -0.7292. Last year the basis for November 19 was -0.8881, and the Nov average up till then had been -0.9827. So we’re about 22 cents firmer than year ago for the month to date. US Soybean FOB prices were reported to be between Brazil and Argentina, @$359.00/MT (~$9.77/bushel).

--- provided by Brugler Marketing & Management

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
$1,122/1,020
First Notice Date
11/29/19 (9 days)
Expiration Date
12/13/19 (23 days)

Seasonal Chart

Soybean Meal Dec '19
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Nov 12, 2019

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Commercials - Long / Short
208,942 (-9,446)
232,370 (+7,410)
Non-Commercials - Long / Short
77,176 (+6,605)
74,002 (-8,705)
Producers - Long / Short
108,269 (-2,830)
206,159 (+11,644)
Swap Dealers - Long / Short
81,255 (-2,864)
6,793 (-482)
Managed Money - Long / Short
43,727 (+7,417)
66,505 (-7,126)
Other Reportables - Long / Short
33,449 (-812)
7,497 (-1,579)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
298.5 +0.97%
on 11/06/19
311.8 -3.34%
on 10/22/19
-7.1 (-2.30%)
since 10/18/19
3-Month
292.0 +3.22%
on 09/09/19
313.9 -3.98%
on 10/14/19
+1.9 (+0.63%)
since 08/20/19
52-Week
291.6 +3.36%
on 05/13/19
336.0 -10.30%
on 06/18/19
-20.6 (-6.40%)
since 11/20/18

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Barchart Technical Opinion

The Barchart Technical Opinion rating is a 24% Sell with a Average short term outlook on maintaining the current direction.

Longer term, the trend strength is Minimum. Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 304.2
1st Resistance Point 303.1
Last Price 301.6
1st Support Level 301.2
2nd Support Level 300.4

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52-Week High 336.0
Fibonacci 61.8% 319.0
Fibonacci 50% 313.8
Fibonacci 38.2% 308.6
Last Price 301.6
52-Week Low 291.6

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