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Soybean Oil Jul '21 (ZLN21)

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Soybean Oil Futures Market News and Commentary

Soybeans Extending Rally on Tuesday

Soybeans are ignoring any argument of a Turnaround Tuesday, as contracts are up 2 to 11 cents in the front months at midday. Some short covering was noted on Monday, as preliminary OI dropped 3,843 contracts despite the big price advance. Soymeal futures are down $2.70 in the August contract. Soy Oil futures are 21 points lower in the front month

Dryness in the 7-day forecast and above normal temps in the 8-14 day outlook gave the market some support as we round out July and head toward August.

The weekly Crop Progress update from NASS indicated 65% of the US bean crop was blooming as of July 21, with 29% setting pods, both 5% points ahead of average maturity for the date.  Soybean condition ratings were unchanged at 68% gd/ex, with the Brugler500 index remaining at 370.

Aug 24 Soybeans  are at $11.20 1/4, up 2 1/2 cents,

Nearby Cash  is at $10.96 1/4, up 3 3/4 cents,

Nov 24 Soybeans  are at $10.78 3/4, up 10 cents,

Jan 25 Soybeans  are at $10.93,... 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
06/30/21
Expiration Date
07/14/21 (expired)

Seasonal Chart

Soybean Oil Jul '21
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Jul 16, 2024

View Chart Details
Commercials - Long / Short
289,023 (+8,752)
295,952 (+5,538)
Non-Commercials - Long / Short
112,712 (-549)
110,681 (+3,897)
Producers - Long / Short
139,334 (+6,780)
284,086 (+4,955)
Swap Dealers - Long / Short
139,413 (+137)
1,590 (-1,252)
Managed Money - Long / Short
56,550 (-892)
71,568 (-1,347)
Other Reportables - Long / Short
56,162 (+343)
39,113 (+5,244)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
55.49 +20.08%
on 06/18/21
68.80 -3.15%
on 07/13/21
+0.67 (+1.02%)
since 06/14/21
3-Month
52.03 +28.06%
on 04/15/21
73.74 -9.64%
on 06/07/21
+14.41 (+27.59%)
since 04/14/21
52-Week
29.79 +123.67%
on 07/15/20
73.74 -9.64%
on 06/07/21
+36.84 (+123.67%)
since 07/14/20

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Most Recent Stories

More News
Shootin' the Bull about how much longer in the triangle

How long can the triangle last?  Until consumers increase consumption/willingness to pay, or they contract/shift further in discretionary spending.  With bonds moving higher and energy prices lower,...

Soybeans Extending Rally on Tuesday

Soybeans are ignoring any argument of a Turnaround Tuesday, as contracts are up 2 to 11 cents in the front months at midday. Some short covering was noted on Monday, as preliminary OI dropped 3,843 contracts...

ZMZ24 : 319.1s (-0.09%)
ZLZ24 : 45.13s (+0.62%)
ZSQ24 : 1117-4s (-0.02%)
ZSPAUS.CM : 10.9384 (+0.12%)
ZSU24 : 1071-6s (+0.66%)
ZSX24 : 1075-4s (+0.63%)
ZSPX24US.CM : 10.1989 (+0.69%)
Wheat Slipping on Tuesday

Wheat futures are feeling a Turnaround Tuesday pressure. Chicago futures are down 1 to 2 cents at midday. Kansas City contracts are fractionally to 2 cents in the red so far on the day. MPLS spring wheat...

ZWU24 : 542-6s (-0.96%)
ZWZ24 : 567-6s (-0.92%)
KEU24 : 566-6s (-0.87%)
KEZ24 : 583-2s (-0.81%)
MWU24 : 615-4s (-1.16%)
Corn Pushing Higher Following Export Sale

Corn futures sputtered out of the gates on Tuesday morning, but are trading 4 to 5 cents higher through midday activity. CME Group reported that combined open interest hit a one month high of 1,586,978...

ZCU24 : 402-4s (+0.56%)
ZCPAUS.CM : 3.9598 (+0.54%)
ZCZ24 : 417-2s (+0.54%)
ZCZ24 : 417-2s (+0.54%)
ZCPZ24US.CM : 3.8866 (+0.59%)
Is There More Gas in the Tank for a Bigger Grain Market Rally?

Grain markets had a strong start to the week but the Bulls still have their work cut out for them as prices test significant resistance levels.

Soybean Mixed to Start Tuesday Trade

Soybeans are trading mixed, with August down 1 ½ and other front months slightly higher on Tuesday morning to follow up Monday’s rally. Beans rallied sharply on Monday, with gains of 20 ½ cents in...

ZMZ24 : 319.1s (-0.09%)
ZLZ24 : 45.13s (+0.62%)
ZSQ24 : 1117-4s (-0.02%)
ZSPAUS.CM : 10.9384 (+0.12%)
ZSU24 : 1071-6s (+0.66%)
ZSX24 : 1075-4s (+0.63%)
ZSPX24US.CM : 10.1989 (+0.69%)
Wheat Slipping Back on Tuesday Morning

Wheat is trading 4 to 8 cents lower after sunrise on Tuesday. Wheat futures faced some early and midday pressure but followed the Minneapolis lead to post gains on Monday. MPLS spring wheat was up 6 to...

ZWU24 : 542-6s (-0.96%)
ZWZ24 : 567-6s (-0.92%)
KEU24 : 566-6s (-0.87%)
KEZ24 : 583-2s (-0.81%)
MWU24 : 615-4s (-1.16%)
Corn Slightly Lower to Start Tuesday, Despite Weaker Ratings

Corn prices are fractionally lower in early Tuesday market activity. Futures started off the week in rally mode, as contracts closed with 9 to 11 cent gains across the front months on Monday. A drier forecast...

ZCU24 : 402-4s (+0.56%)
ZCPAUS.CM : 3.9598 (+0.54%)
ZCZ24 : 417-2s (+0.54%)
ZCZ24 : 417-2s (+0.54%)
ZCPZ24US.CM : 3.8866 (+0.59%)
Hogs Continue Higher

Hogs gaining strength as cash markets firm

Soybean Rally Led by New Crop as Drier Forecast Emerges

Soybeans closed out their strong overnight start on Monday with gains of 20 ½ cents in August to 32 ¾ in the November contract. Soymeal futures were up $7.10 to $9.40 per ton in the nearbys. Soy Oil...

ZMZ24 : 319.1s (-0.09%)
ZLZ24 : 45.13s (+0.62%)
ZSQ24 : 1117-4s (-0.02%)
ZSPAUS.CM : 10.9384 (+0.12%)
ZSU24 : 1071-6s (+0.66%)
ZSX24 : 1075-4s (+0.63%)
ZSPX24US.CM : 10.1989 (+0.69%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 66.63
2nd Resistance Point 66.63
1st Resistance Point 66.63
Last Price 66.63s
1st Support Level 66.63
2nd Support Level 66.63
3rd Support Level 66.63

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52-Week High 73.74
Last Price 66.63s
Fibonacci 61.8% 56.95
Fibonacci 50% 51.76
Fibonacci 38.2% 46.58
52-Week Low 29.79

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