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Soybean Meal Pit Aug '18 (SMQ18)

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Soybean Meal (Pit) Futures Market News and Commentary

Soybeans Recover on Friday with Double Digit Front Month Gains

Soybeans posted 7 ¾ to 16 ¾ cent gains across the board on Friday to ease the week’s losses. Soymeal was up $3.50 to $5.80 heading into the weekend. Soy Oil saw 16 to 28 point gains on the day.

A private export sale ofo121,500 MT of soybeans was reported by the USDA to unknown destinations this morning. The sale was spilt with 13,500 MT for 23/24 delivery and 108,000 MT shipped during 24/25.

CFTC data from Friday afternoon showed specs in beans adding back 28,565 contracts to their large net short position as of 4/16. That took them to a net short of 167,875 contracts. Commercials were adding longs (26,949 contracts), to increase that position to 53,691 contracts. In soybean oil specs added 49,167 contracts to their net short, the largest bear move on record, to 53,295 contracts. 

The BAGE estimates 14% of the Argentine soybean crop is harvested, up from 11% the previous week, but well below the 36% average pace. The Argentine government release an initial crop est... Read more

Contract Specifications

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Contract
Soybean Meal [Pit]
Contract Size
100 tons (2,000 pounds per ton)
Tick Size
10 cents per ton ($10.00 per contract)
Trading Hours
8:30a.m. - 1:15p.m. CST
Exchange
CBOT
Point Value
$100
Expiration Date
08/14/18 (expired)
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Price Performance

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Period Period Low Period High Performance
1-Month
323.5 +3.55%
on 08/10/18
341.2 -1.82%
on 07/31/18
+9.0 (+2.76%)
since 07/13/18
3-Month
323.5 +3.55%
on 08/10/18
380.8 -12.03%
on 05/25/18
-49.4 (-12.85%)
since 05/14/18
52-Week
306.0 +9.48%
on 08/23/17
401.5 -16.56%
on 05/01/18
+23.1 (+7.41%)
since 08/14/17

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Soybeans Recover on Friday with Double Digit Front Month Gains

Soybeans posted 7 ¾ to 16 ¾ cent gains across the board on Friday to ease the week’s losses. Soymeal was up $3.50 to $5.80 heading into the weekend. Soy Oil saw 16 to 28 point gains on the day. A private...

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Wheat Still Higher at Midday

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ZWK24 : 550-2s (+2.52%)
ZWN24 : 566-6s (+2.49%)
KEK24 : 581-4s (+0.74%)
KEN24 : 583-0s (+1.35%)
MWK24 : 647-0s (+1.29%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 335.0
1st Resistance Point 335.0
Last Price 335.0s
1st Support Level 335.0
2nd Support Level 335.0
3rd Support Level N/A

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52-Week High 401.5
Fibonacci 61.8% 365.0
Fibonacci 50% 353.8
Fibonacci 38.2% 342.5
Last Price 335.0s
52-Week Low 306.0

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