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Soybean Meal May '18 (ZMK18)

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Soybean Meal Futures Market News and Commentary

Soybeans Higher Following Overnight Trade

Soybeans are up 1 ½ to 3 cents after a round of overnight back and forth trade. Futures posted gains of as little as a fraction to as much as 6 ¼ cents on Tuesday. Soymeal turned around on midday weakness to close with contracts up 90 cents to $1.40/ton, with Soy Oil rallying 15 to 24 points. 

Soybean planting is off to a decent start, with just OH and IN of the 18 major states lagging the normal pace. IL was 5% above normal, with IA moving at a 6% faster than average pace and MO already 16% planted vs. the 3% average. 

Precip across much of the US soybean growing region later this week and into the weekend may put a hold on the speedy planting pace. Brazilian harvest is now estimated to be >90% completed by commercial sources. 

May 24 Soybeans  closed at $11.67 1/2, up 6 1/2 cents, currently up 3 cents

Nearby Cash  was $11.15 1/4, up 7 cents,

Jul 24 Soybeans  closed at $11.82, up 5 1/2 cents, currently up 2 1/2 cents

Nov 24 Soybeans  closed at $1... 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
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 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
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

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Soybeans Higher Following Overnight Trade

Soybeans are up 1 ½ to 3 cents after a round of overnight back and forth trade. Futures posted gains of as little as a fraction to as much as 6 ¼ cents on Tuesday. Soymeal turned around on midday weakness...

ZMN24 : 350.9 (+1.39%)
ZLN24 : 45.50 (-0.83%)
ZSK24 : 1173-2 (+0.49%)
ZSPAUS.CM : 11.2106 (+0.52%)
ZSN24 : 1187-4 (+0.47%)
ZSX24 : 1177-2 (+0.28%)
ZSPX24US.CM : 11.1688 (+0.29%)
Shootin' the Bull about getting full

Futures traders were quick to relinquish their buying today.  I think that when you delve inside the business, you'll find that importers are no longer chasing the bid for imported inventory.

Wheat Bottom Came Right At A 78.6% Fibonacci Retracement, 50 Cent Rally Follows

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ZCPAUS.CM : 4.2619 (-0.29%)
ZCN24 : 451-6 (-0.17%)
ZCZ24 : 475-2 (+0.11%)
ZCPZ24US.CM : 4.4408 (+0.11%)
Soybeans Post Gains with Planting Delays Expected Later This Week

Soybean futures posted gains of as little as fractionally to as much as 6 ¼ cents on Tuesday. Soymeal turned around on midday weakness to close with contracts up 90 cents to $1.40/ton, with Soy Oil rallying...

ZMN24 : 350.9 (+1.39%)
ZLN24 : 45.50 (-0.83%)
ZSK24 : 1173-2 (+0.49%)
ZSPAUS.CM : 11.2106 (+0.52%)
ZSN24 : 1187-4 (+0.47%)
ZSX24 : 1177-2 (+0.28%)
ZSPX24US.CM : 11.1688 (+0.29%)
Wheat Leads Bull Charge For Second Day In a Row

The wheat complex continued this week’s rally on Tuesday. Chicago contracts were up 8 to 15 ¼ cents on the day. Kansas City posted gains of 8 ½ to 11 ¾ cents at the close. MPLS was 6 ¼ to 10 ¾ cents...

ZWK24 : 589-6 (+0.81%)
ZWN24 : 608-0 (+0.87%)
KEK24 : 621-2 (+2.05%)
KEN24 : 624-4 (+1.67%)
MWK24 : 672-0 (+0.83%)

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

See More

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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