{"schema_version":"1.0","type":"daily_commodity_report","available":true,"name":"Sharemaestro Soybean Meal Daily Commodity Report","edition":"2026-08-21","market":{"name":"Soybean Meal","slug":"soybean-meal","group":"Grains","unit":"USD per short ton"},"current_read":{"state":{"label":"Repair developing","headline":"Soybean Meal has positive Market Dynamics, but its price trend has not yet turned upward."},"headline":"Soybean Meal has positive Market Dynamics, but its price trend has not yet turned upward.","summary":"The latest completed close is 317.70 USD per short ton. The Trend Signal is inactive, Relative Strength is -12.7 and Market Dynamics is +0.91. This week is +2.9% through 5 completed sessions; across 20 sessions, price changed -4.1%."},"price":{"completed_close":317.700012,"recent_performance_pct":{"1_day":0.6335128045544813,"5_days":2.915451781712264,"20_days":-4.105033653064893,"60_days":-3.901994484537308,"252_days":8.801373972602743},"current_week":{"week_start":"2026-08-17","through":"2026-08-21","sessions":5,"return_pct":2.915451781712264,"up_sessions":4,"down_sessions":1,"unchanged_sessions":0,"session_moves":[{"day":"2026-08-17","close":312.100006,"return_pct":1.1013909516790044},{"day":"2026-08-18","close":313.0,"return_pct":0.2883671844594593},{"day":"2026-08-19","close":318.899994,"return_pct":1.8849821086261986},{"day":"2026-08-20","close":315.700012,"return_pct":-1.0034437316420841},{"day":"2026-08-21","close":317.700012,"return_pct":0.6335128045544813}],"previous_week_start":"2026-08-10","previous_week_end":"2026-08-14","previous_sessions":5,"previous_return_pct":0.19474391052105577,"change_vs_previous_week_pct_points":2.720707871191208,"headline":"The completed path is accelerating this week.","detail":"Price is +2.92% across 5 completed sessions this week. The previous completed week returned +0.19%. The market is +0.44 percentage points versus its group this week.","tone":"supportive","group_return_pct":2.4739773109784924,"relative_to_group_pct_points":0.44147447073377144}},"readings":{"trend":{"state":"Inactive","value":316.343334},"fair_value":314.241025,"relative_strength":{"value":-12.667304,"state":"Lagging"},"market_dynamics":{"value":0.909104,"state":"Supportive"}},"current_setup":{"stance":"Repair watch","path":"Underlying pressure is improving before price has confirmed. This is a watchlist setup, not yet a completed trend.","trigger":"A completed Trend Signal above the current Trend Line near 316.34 USD per short ton, backed by positive Market Dynamics.","failure":"Renewed price weakness with Market Dynamics and relative strength both below zero.","risk":"Volatility ranks at percentile 73 of its three-year history. Treat any setup as high-temperature and scale risk accordingly.","scenarios":[{"label":"Constructive path","condition":"A completed Trend Signal above the current Trend Line near 316.34 USD per short ton, backed by positive Market Dynamics.","meaning":"Confirmation would favour trend continuation or a completed repair rather than an anticipatory entry.","tone":"supportive"},{"label":"Holding pattern","condition":"Price remains near its current structure while confirming layers stay mixed.","meaning":"The market stays on watch; patience preserves the edge because there is no need to force a direction.","tone":"mixed"},{"label":"Failure path","condition":"Renewed price weakness with Market Dynamics and relative strength both below zero.","meaning":"The setup weakens and the defensive interpretation takes priority until a new completed repair develops.","tone":"negative"}]},"positioning":{"label":"No extreme positioning edge","title":"Positioning is not stretched enough to override the price evidence","summary":"Managed money is net +12.6% of open interest, at percentile 77 of its three-year range. The latest net shift was +1.67 percentage points.","edge":"Use the weekly change as confirmation, but let completed price structure and Market Dynamics determine direction.","next_signal":"A completed Trend Signal with positive Market Dynamics, followed by stable or rising net exposure, would turn positioning into confirmation.","risk":"COT is published with a delay and describes trader groups, not a timed entry. Crowding can persist before it unwinds."},"producer_positioning":{"title":"The latest producer move is ordinary, not a standalone signal","detail":"Its magnitude ranks at percentile 55 of retained weekly shifts. The strongest retained horizon is 13 weeks, with 60% directional alignment across 5 independent samples.","implication":"The sample is too small and inconsistent to treat producer hedging as a forecast. Use it as a warning or confirmation layer beside price, never as the trade by itself."},"related_markets":{"title":"Soybeans is the clearest current confirmation market","detail":"The 52-week return correlation is +0.69. A matching move adds context; a divergence may indicate a relative-value move rather than a broad group signal. Current macro-factor relationships are weak, which points to a more market-specific setup.","action":"Use related markets to confirm or challenge the thesis; do not use correlation alone as the entry trigger."},"publication_boundary":"Observed market data and finished Sharemaestro readings only. Formulas, components, model features, thresholds, weights, source identifiers and calculation workings are not published.","source_coverage":{"commodity_intelligence":{"available":true,"as_of":"2026-08-21","cadence":"Completed daily sessions"},"weekly_exchange":{"available":true,"as_of":"2026-08-21","cadence":"Completed weekly evidence"}},"weekly_exchange":{"name":"Soybean Meal","group":"Grains","as_of":"2026-08-21","completed_close":317.700012,"recent_performance_pct":{"1_weeks":2.9155,"4_weeks":-4.105,"12_weeks":-3.6689,"52_weeks":7.0779},"readings":{"trend":{"state":"Inactive"},"fair_value":324.879487,"relative_strength":{"value":-12.667304,"state":"Lagging"},"market_dynamics":{"value":-0.740246,"state":"Cautious"},"next_week_view":{"direction":"undecided","probability_pct":45.3397}}},"canonical_url":"https://sharemaestro.com/commodities/assets/soybean-meal/report/","distributions":{"html":"https://sharemaestro.com/commodities/assets/soybean-meal/report/","pdf":"https://sharemaestro.com/commodities/assets/soybean-meal/report/download.pdf","json":"https://sharemaestro.com/commodities/assets/soybean-meal/report/data.json"},"citation":"Sharemaestro, Soybean Meal Daily Commodity Report, 2026-08-21, https://sharemaestro.com/commodities/assets/soybean-meal/report/","license":"https://sharemaestro.com/data-license/","disclaimer":"Observed market evidence for research and education only. Not financial, investment, trading, tax or legal advice.","content_hash":"4d0637b1df18c493aa6abf1a7214eba8a9f82780322bee12fdbc304f732f7d3e"}