Soybean Meal Commodity Markets, Prices & Futures
Use the chart below to check futures prices for soybean meal. Click the contract dates for more prices and trends. Cash price reflects the USDA Chicago terminal.
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Latest News From Soybean Meal
Jerry Gulke president of The Gulke Group says it isn’t surprising to see profit taking in the soybeans with the funds holding a near record long position.
Dan Basse, president of Ag Resource Company, says the corn yield figure was very close to the trade guess and largely priced into the market.
Despite widespread concerns over summer weather damage, USDA’s September WASDE corn yield came in almost exactly where the trade expected, which left stocks-to-use, not yield, as the number driving the market.
Scott Varilek with Kooima Kooima Varilek says the recovery in the cattle market this week feels good but he is watching for several signs to feel confident about sustaining it.
In the September report USDA will use objective field data for the first time this marketing year to determine yield.
Brady Huck with Empower Ag Trading says soybean futures hit new contract highs again as the market got energized by higher product values, report positioning, higher energy prices and China buying.
Randy Martinson with Martinson Ag says soybeans were back higher on Thursday with more confirmed soybean export business as China bought another 10 million bu. and unknown destinations accounted for 8 million bu.
Vince Boddicker with Farmers Trading Company says the market disregarded flash export sales for corn and soybeans and instead funds took some profits after a sizable rally staged in August and early September and before the WASDE.
Mike Castle with StoneX, says the risk off selling was tied to profit taking in the grain markets ahead of the September WASDE on Friday.
Mark Schultz with Northstar Commodity says wheat was adding geopolitical premium on Tuesday as peace talks failed over the weekend but the grain complex was also positioning ahead of the USDA reports.