rounded corner
rounded corner
top border

Soybean Meal Hits 11 Week High

Bookmark and Share

Soybean Meal Futures---Soybean meal futures in the December contract settled last Friday in Chicago at 303 while currently trading at 311 as prices have now hit an 11 week high continuing its bullish momentum.

Fundamentally speaking NASS slashed their projected 2019 US soybean yield by 1 bpa to 46.9 bpa as that helped their production estimate to fall 83 mbu from last months report to 3,550 billion bushels helping lower carryover from 18/19 and a cut to production, 19/20 ending stocks were down 180 mbu from last report at 460 mbu as last years stocks estimate was nearly double that at 913 million.

I have been recommending a bullish position from around the 306 level and if you took that trade continue to place the stop loss under the contract low which stands at 291 as an exit strategy as this market certainly has turned bullish as the fundamental situation has changed dramatically so stay long and continue to place the proper stop loss.

The volatility should start to increase as prices are now trading above their 20 and 100 day moving average as this trend is higher in my opinion as a possible trade agreement with China could be at hand this afternoon as that would be a very bullish fundamental factor in next week's 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




If youre looking to open a Trading Account click on this link

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.

Recent articles from this author

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.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. is not a broker, nor does it have an affiliation with any broker.

Copyright ©2005-2019, a product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy