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Soybean Meal May '14 (ZMK14)

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Soybean Meal Futures Market News and Commentary

Soy Futures Fade into Thursday

Front month soy futures were weaker on Wednesday led by the soy oil futures. Soy Oil futures closed more than 70 points weaker with 1.5% losses. Beans were down by 4 ¾ to 7 ½ cents across the front months on Wednesday. Soymeal futures closed the day off the session highs with 80 cent losses to $1 losses. 

Pre-report estimates have old crop bean sales coming in between 300k MT and 700k MT for the week that ended 3/21. Traders are looking for new crop export bookings to be below 50k MT. The Export Sales report is expected to show soymeal sales between 150k MT and 350k MT. Soy oil bookings are expected to be below 10k MT for the week.

StatsCan data showed Canada’s Feb canola crush was 898k MT. That was up 10.6% from the same month last year. Canola oil output was 382k MT. 

AgRural reported Brazilian soybean harvest at 69%, which is now trailing last year by 1 percentage point. 

 

May 24 Soybeans  closed at $11.92 1/2, down 6 1/2 cents,

Nearby Cash  ... 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
04/30/14
Expiration Date
05/14/14 (expired)

Seasonal Chart

Soybean Meal May '14
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Mar 19, 2024

View Chart Details
Commercials - Long / Short
230,591 (-964)
200,213 (+9,233)
Non-Commercials - Long / Short
90,991 (+5,744)
136,696 (-5,438)
Producers - Long / Short
128,185 (-2,220)
184,969 (+6,321)
Swap Dealers - Long / Short
90,860 (-1,577)
3,698 (+79)
Managed Money - Long / Short
64,587 (+2,811)
109,134 (-508)
Other Reportables - Long / Short
26,404 (+2,933)
27,562 (-4,930)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
477.0 +4.38%
on 04/23/14
504.8 -1.37%
on 04/30/14
+18.8 (+3.92%)
since 04/14/14
3-Month
430.3 +15.71%
on 02/18/14
504.8 -1.37%
on 04/30/14
+65.6 (+15.17%)
since 02/14/14
52-Week
343.8 +44.82%
on 05/16/13
504.8 -1.37%
on 04/30/14
+151.7 (+43.82%)
since 05/14/13

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Most Recent Stories

More News
Soy Futures Fade into Thursday

Front month soy futures were weaker on Wednesday led by the soy oil futures. Soy Oil futures closed more than 70 points weaker with 1.5% losses. Beans were down by 4 ¾ to 7 ½ cents across the front...

ZLK24 : 47.73 (+0.13%)
ZMK24 : 337.3 (-0.50%)
ZSK24 : 1188-4 (-0.34%)
ZSPAUS.CM : 11.3518 (-0.56%)
ZSN24 : 1202-6 (-0.31%)
ZSQ24 : 1201-6 (-0.27%)
Wheat Closed Mixed on Wednesday

KC wheat futures ended the day mixed within 1 ¾ cents of UNCH. The soft red winter wheat futures were 2 ½ to 4 cents higher and hard red spring wheat was 3 ¾ cents higher on the day. May SRW is sitting...

ZWK24 : 547-6 (+0.05%)
ZWN24 : 563-4 (+0.13%)
KEK24 : 578-2 (unch)
MWK24 : 650-2 (-0.12%)
Corn Falls ahead of Report Day

Nearby corn prices were 5 ¾ cents lower at the close on Wednesday, leaving the board 12 cents in the red for the week’s move. Open interest continues to rise ahead of Thursday’s reports, up 2,573...

ZCK24 : 427-0 (+0.06%)
ZCPAUS.CM : 4.0442 (-1.35%)
ZCN24 : 439-2 (unch)
ZCU24 : 448-4 (unch)
Pure Hedge - Livestock and Grain

It will be a busy day tomorrow.

Shootin' the Bull about fleeing traders

Very little took place today after another excessively volatile day.  Traders fled in droves on Tuesday.  Open interest dropped over 8,000 contracts.  Triangulation of price continues to be the anticipated...

Wheat Mixed Mostly Higher for Wednesday’s Midday

The wheat board is showing gains for Chicago and Minneapolis at midday. Futures initially were pushing lower for Wednesday, but SRW is trading 7 cents off the lows for fractional to 1 ¾ cent gains. KC...

ZWK24 : 547-6 (+0.05%)
ZWN24 : 563-4 (+0.13%)
KEK24 : 578-2 (unch)
MWK24 : 650-2 (-0.12%)
Beans Off Lows, Still Red at Midday

The midday soy market is trading mostly lower, though meal is off the lows and in the black. Soybean futures are still down by 3 ¼ to 5 ½ cents, though futures have recovered a nickel from their session...

ZMK24 : 337.3 (-0.50%)
ZLK24 : 47.73 (+0.13%)
ZSK24 : 1188-4 (-0.34%)
ZSPAUS.CM : 11.3518 (-0.56%)
ZSN24 : 1202-6 (-0.31%)
ZSQ24 : 1201-6 (-0.27%)
Midweek Losses in Corn Market

Corn futures are falling by 3 to 3 ¾ cents through Wednesday’s midday. May was down by 5 cents earlier in the day. Open interest continues to rise ahead of Thursday’s reports, up 2,573 contracts on...

ZCK24 : 427-0 (+0.06%)
ZCPAUS.CM : 4.0442 (-1.35%)
ZCN24 : 439-2 (unch)
ZCU24 : 448-4 (unch)
Grain Markest Slide Lower Ahead of the USDA Report

Corn and soybean futures had a weaker close on Tuesday which has led to follow-through pressure in the early morning trade. Where's support?

Soybeans Pushing Red into Weds

Soybean prices are starting off Wednesday with another 3 ¾ to 6 cent weakness. The July ’24, Aug ’24, and Jan ’25 contracts held over the $12 mark for the close despite 7 to 10 ¼ cent losses on...

ZMK24 : 337.3 (-0.50%)
ZLK24 : 47.73 (+0.13%)
ZSK24 : 1188-4 (-0.34%)
ZSPAUS.CM : 11.3518 (-0.56%)
ZSN24 : 1202-6 (-0.31%)
ZSQ24 : 1201-6 (-0.27%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 504.5
1st Resistance Point 501.2
Last Price 497.9s
1st Support Level 491.3
2nd Support Level 484.7
3rd Support Level N/A

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52-Week High 504.8
Last Price 497.9s
Fibonacci 61.8% 443.3
Fibonacci 50% 424.3
Fibonacci 38.2% 405.3
52-Week Low 343.8

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