# Fresh from the Trading Room: Got commodities? - CME Group

> A CME Group trading-room note reviews agricultural and energy markets amid mixed macroeconomic signals. It notes that soybean meal rallied more than 10% in a few days before retracing toward support near 365, and that corn is retesting resistance-turned-support near 460. It also says commercial long positions in corn are near historic highs.

- Date: 2024-05-21 · published 2024-05-21T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/30285-fresh-from-the-trading-room-got-commodities-cme-group
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Recent technical rallies in soymeal and corn, along with heavy commercial buying, point to firmer near-term prices for feed ingredients. The note is routine technical commentary rather than a new supply or demand shock.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- cmegroup.com: https://www.cmegroup.com/newsletters/fresh-from-the-trading-room/2024-05-21.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.