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Soybean Meal Jan '22 (ZMF22)

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Soybean Meal Futures Market News and Commentary

Soybean Futures Pulled Higher by Soy Oil

Soybean futures are 2 to 3 cents higher to start the Thursday session, with meal lower but soy oil trying to extend Wednesday gains. Preliminary OI data suggests net new buying was the main driver for Wednesday’s soybean gains, rising 13,582 contracts on the day. Going home, soybeans were up 1.7 to 2.2%. March beans closed with 30 cent gains. Soymeal also bounced back from Tuesday’s shellacking with 1.67% to 2.1% gains in the front months. The $8.20/ton gain in March was still not enough to overcome all of the Tuesday drop. Soybean oil futures rallied triple digits to close 2.72% to 2.84% stronger. 

USDA’s Ag Attaché reduced their Brazilian soy crop estimate to 136 MMT on a 3.391 MT/HA yield. USDA’s official WASDE forecast last week was for 139 MMT and 3.44 MT/HA. The attaché cited heavy rains for flooding and disease in Mato Grosso as the main rationale for the yield cut. Record soybean production is still seen for that state. Unlike the WAOB’s official Jan forecast, Post saw... 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
$2,200/2,000
First Notice Date
12/31/21
Expiration Date
01/14/22 (expired)

Seasonal Chart

Soybean Meal Jan '22
Average Price Chart for 5 Prior Jan Contracts

Commitment of Traders Positions as of Jan 11, 2022

View Chart Details
Commercials - Long / Short
184,194 (+4,729)
307,028 (+4,169)
Non-Commercials - Long / Short
117,747 (-1,280)
20,573 (+575)
Producers - Long / Short
80,855 (-1,808)
299,298 (+4,509)
Swap Dealers - Long / Short
99,679 (+6,803)
4,070 (-74)
Managed Money - Long / Short
84,315 (+2,163)
11,373 (-364)
Other Reportables - Long / Short
33,432 (-3,443)
9,200 (+939)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
370.8 +20.01%
on 12/16/21
445.0 unch
on 01/14/22
+68.1 (+18.07%)
since 12/14/21
3-Month
314.7 +41.40%
on 10/18/21
445.0 unch
on 01/14/22
+129.6 (+41.09%)
since 10/14/21
52-Week
311.2 +42.99%
on 10/13/21
445.0 unch
on 01/14/22
+57.3 (+14.78%)
since 01/14/21

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We kickoff the day with Initial Jobless Claims (15/Jan), Jobless Claims 4-Week Average (15/Jan), Philadelphia Fed Manufacturing Index (Jan), Philly Fed Business Conditions (Jan), Philly Fed Capex Index...

Corn Backs Off After Big Wednesday Rally

After the sharp gains on Wednesday, Thursday’s corn market has a little light profit taking, down 2 to 3 cents overnight. Preliminary OI data suggests the 10 3/4 to 11 cent gains yesterday was net new...

ZCH22 : 612-4 (+0.33%)
ZCPAUS.CM : 5.9917 (+0.35%)
ZCK22 : 612-4 (+0.25%)
ZCZ21 : 588-6s (+0.77%)
ZCPZ21US.CM : 5.7930 (-0.49%)
Soybean Futures Pulled Higher by Soy Oil

Soybean futures are 2 to 3 cents higher to start the Thursday session, with meal lower but soy oil trying to extend Wednesday gains. Preliminary OI data suggests net new buying was the main driver for...

ZSH22 : 1419-2 (+2.01%)
ZSPAUS.CM : 13.7611 (+2.08%)
ZSK22 : 1428-6 (+2.00%)
ZSX22 : 1319-0 (+1.11%)
ZSPX21US.CM : 12.3270 (+1.90%)
Wheat Futures Steady in MPLS, Down in Chicago and KC Contracts

Wheat futures faded their Wednesday gains overnight and are trading steady to 6 cents lower this morning. Chicago prices were up 3.3% to 3.75% on Wednesday, which left the May contract a penny under the...

ZWH22 : 796-6 (unch)
ZWPAES.CM : 7.5620 (+0.01%)
KEH22 : 801-4 (+0.19%)
KEPAWS.CM : 7.8315 (+0.20%)
MWH22 : 948-4 (+0.93%)
Morning Comments; Thursday, January 20th, 2022

Futures Consolidate

TFM Sunrise Update Jan 20, 2021

CORN Corn futures were off 2 to 3 cents overnight in light volume. March corn is down 2-1/4 cents to 6.09-1/4 within a 3 cent range between 6.10-3/4 and 6.07-3/4. overnight. Dec corn is down 1-3/ 4 cents...

Corn Closed Double Digits Higher

Corn prices rallied on Wednesday ending the session back above the $6 mark. For old crop, the session ended 10 3/4 to 11 cents in the black but went home 4 cents off the highs. New crop prices closed 7...

ZCH22 : 612-4 (+0.33%)
ZCPAUS.CM : 5.9917 (+0.35%)
ZCK22 : 612-4 (+0.25%)
ZCZ21 : 588-6s (+0.77%)
ZCPZ21US.CM : 5.7930 (-0.49%)
Thirty Cent Gains for Beans

The double digit bounce back for Wobble Wednesday ended with beans 1.74% to 2.2% in the black. March beans closed with 30 cent gains. Soymeal also bounced back with 1.67% to 2.1% gains in the front months....

CSH22 : 151-2 (-1.31%)
ZSH22 : 1419-2 (+2.01%)
ZSPAUS.CM : 13.7611 (+2.08%)
ZSK22 : 1428-6 (+2.00%)
ZSX21 : 1234-0s (+1.79%)
ZSPX21US.CM : 12.3270 (+1.90%)
Wheat Markets Stronger on Wednesday

Going home on Wednesday, front month wheat futures had extended their bounce by double digits again. Chicago prices were up 3.3% to 3.75% at the bell, which left the May contract a penny under the $8 mark....

ZWH22 : 796-6 (unch)
ZWPAES.CM : 7.5620 (+0.01%)
KEH22 : 801-4 (+0.19%)
KEPAWS.CM : 7.8315 (+0.20%)
MWH22 : 948-4 (+0.93%)
Shootin' the Bull

Packers are included in the aspects of no one having had the opportunity to buy replacement inventory at a lower price.  As well, if they begin to adhere to the inflationary aspects further, they will...

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Average Signal Strength.

Key Turning Points

3rd Resistance Point 445.0
2nd Resistance Point 445.0
1st Resistance Point 445.0
Last Price 445.0s
1st Support Level 445.0
2nd Support Level 445.0
3rd Support Level 445.0

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52-Week High 445.0
Last Price 445.0s
Fibonacci 61.8% 393.9
Fibonacci 50% 378.1
Fibonacci 38.2% 362.3
52-Week Low 311.2

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