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Soybean Oil Jul '24 (ZLN24)

47.55s +0.44 (+0.93%) 07/12/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, Jul 12th, 2024
Day Low
47.51
Day High
47.55
Open 47.51
Previous Close 47.11 47.11
Volume 220 220
Open Interest 196 196
Stochastic %K 62.56% 62.56%
Weighted Alpha -15.72 -15.72
5-Day Change -2.07 (-4.17%) -2.07 (-4.17%)
52-Week Range 42.50 - 63.54 42.50 - 63.54
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Soybean Oil Futures Market News and Commentary

Soybeans Continue Losses on Tariff Escalation

Soybeans were in full collapse mode on Friday, as contracts were down 32 to 35 cents across most contracts. May lost 46 cents on the week, with November down 44 ¾ cents. CmdtyView’s national front month Cash Bean price was down 34 1/4 cents at $9.21. Soymeal futures were down $1.90 to $5.70/ton, with Soy Oil futures back down 122 to 139 points.

In response to President Trump’s reciprocal tariffs, China issued a retaliatory tariff of 34% on all US goods overnight. There are just under 600,000 MT in unshipped sales to China, with 2.02 MMT in unshipped sales to unknown destinations (some of which may include China). 

Friday afternoon’s Commitment of Traders report indicated spec traders in soybean future and options cutting back 13,112 contracts from their net short as of Tuesday. They held a net short of 29,847 contracts as of April 1.

The USDA Export Sales report showed 46.17 MMT in commitments as of March 27, which is 14% above the same period last year. That is 93... Read more

Contract Specifications

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Contract
Soybean Oil
Contract Size
60,000 pounds
Tick Size
0.01 points ($6.00 per contract)
Trading Hours
7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
CBOT
Point Value
$600
Margin/Maintenance
$1,980/1,800
First Notice Date
06/28/24
Expiration Date
07/12/24 (expired)

Seasonal Chart

Soybean Oil Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Apr 1, 2025

View Chart Details
Commercials - Long / Short
315,806 (-10,167)
332,144 (+31,053)
Non-Commercials - Long / Short
127,743 (+10,459)
115,659 (-24,974)
Producers - Long / Short
165,831 (-4,065)
299,709 (+34,869)
Swap Dealers - Long / Short
127,694 (-1,948)
10,154 (+338)
Managed Money - Long / Short
82,099 (+13,326)
84,232 (-27,929)
Other Reportables - Long / Short
45,644 (-2,867)
31,427 (+2,955)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
42.50 +11.88%
on 06/25/24
Period Open: 43.79
49.65 -4.23%
on 07/05/24
+3.76 (+8.59%)
since 06/12/24
3-Month
42.50 +11.88%
on 06/25/24
Period Open: 46.45
49.65 -4.23%
on 07/05/24
+1.10 (+2.37%)
since 04/12/24
52-Week
42.50 +11.88%
on 06/25/24
Period Open: 56.93
63.54 -25.17%
on 07/24/23
-9.38 (-16.48%)
since 07/12/23

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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 47.60
2nd Resistance Point 47.58
1st Resistance Point 47.56
Last Price 47.55s
1st Support Level 47.52
2nd Support Level 47.50
3rd Support Level 47.48

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52-Week High 63.54
Fibonacci 61.8% 55.50
Fibonacci 50% 53.02
Fibonacci 38.2% 50.54
Last Price 47.55s
52-Week Low 42.50

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