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Barchart
Barchart
Jim Wyckoff

Soybean Meal Bulls Spring to Life Supporting Soybean Prices; Cotton Prices Surging

The soybean meal futures (ZMK26) market on Friday was the star performer of the grains complex, posting the largest daily gain in months. May soybean meal soared $14.20 a ton to $331.80, hit a three-week high, and for the week was up $16.60. May soybean (ZSK26) futures on Friday rose 10 1/2 cents to $11.75 3/4, closed at a nearly four-week high close, and for the week were up 12 1/4 cents. May soybean oil (ZLK26) futures on Friday lost 61 points to 67.09 cents and for the week were down 185 points. Spreaders were featured unwinding long bean oil, short meal spreads late last week.

www.barchart.com
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