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Soybean Meal Prices Hit A 5 Week High

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Soy meal Futures---Soybean meal futures in the January contract settled last Friday in Chicago at 320 while currently trading at 326 a ton up about 600 points for the trading week right near a 5 week high as I'm not involved in this market, but I will be looking at a bullish position once the chart structure improves as the 10 day low stands at 311 as the risk is around $1,500 at the present time which is too much in my opinion for this commodity.

Harvest is completed in the Midwestern part of the United States for soybeans as soybean meal is a byproduct as that is a good thing if you're bullish this commodity as seasonal lows generally are created in the month of October or November as that's basically what has occurred this year as well as the next major level of resistance is the October 13th high of 331 as demand has entered this market just like it has in several other commodity sectors.

The U.S dollar is down about 120 points over the last 2 days which is helping push up soy meal prices despite the fact that wheat and corn are right near contract lows as they are different commodities and can move in opposite directions so play this to the upside once the risk/reward are in favor which could develop in next weeks trade.




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit

Skype Address: mseery TWITTER---@seeryfutures



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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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