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Soybean Oil Jul '23 (ZLN23)

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Soybean Oil Futures Market News and Commentary

Soybeans Hold Gains, After a Week of Improved Export Business

Soybeans rounded out the week with contracts posting 8 ¼ to 11 ½ cent gains across the board. Soymeal futures were mixed on the session anywhere from 40 cents higher to down $1.30 per ton. Soy Oil are rallied to end the week with gains of 97 to 140 points.

USDA reported another private export sale of 120,000 MT of 2024/25 soybeans to unknown destinations this morning. That takes the weekly total of flash sales to all destinations to 1.384 MMT for the week.

The large managed money spec funds in soybean futures and options added back 8,311 contracts to their net short position, a near record 182,758 contracts by Tuesday. Commercials were adding to their net long position, not at a record 87,940 contracts as of August 20.

After the close, Pro Farmer released projections for the US soybean crop following the 4-day tour, pegging yield at 54.9 bpa and production expecting to total 4.74 bbu, that is largest than the current 53.2 bpa and 4.589 bbu USDA numbers.

Expor... 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
$1,870/1,700
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

Soybean Oil Jul '23
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Aug 20, 2024

View Chart Details
Commercials - Long / Short
305,934 (+5,010)
266,785 (+13,268)
Non-Commercials - Long / Short
133,857 (+11,401)
176,527 (+4,708)
Producers - Long / Short
158,367 (+4,340)
254,086 (+11,962)
Swap Dealers - Long / Short
138,080 (+314)
3,212 (+950)
Managed Money - Long / Short
60,562 (+4,277)
144,345 (+8,977)
Other Reportables - Long / Short
73,295 (+7,124)
32,182 (-4,269)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
53.13 +27.78%
on 06/22/23
70.00 -3.01%
on 07/13/23
+11.93 (+21.32%)
since 06/14/23
3-Month
44.53 +52.46%
on 05/31/23
70.00 -3.01%
on 07/13/23
+14.12 (+26.26%)
since 04/14/23
52-Week
44.53 +52.46%
on 05/31/23
70.00 -3.01%
on 07/13/23
+13.03 (+23.75%)
since 07/14/22

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ZSX24 : 973-0s (+1.20%)
ZCZ24 : 391-0s (-0.64%)
ZWZ24 : 528-0s (-1.40%)
SOYB : 21.35 (+1.14%)
CORN : 17.32 (-0.23%)
WEAT : 4.79 (-0.83%)
KCZ24 : 247.30s (+1.81%)
CCZ24 : 7,811s (+0.79%)
SBV24 : 18.39s (+3.03%)
CANE : 11.30 (+2.38%)
TAGS : 24.38 (+0.54%)
DBA : 24.68 (+0.82%)
Soybeans Hold Gains, After a Week of Improved Export Business

Soybeans rounded out the week with contracts posting 8 ¼ to 11 ½ cent gains across the board. Soymeal futures were mixed on the session anywhere from 40 cents higher to down $1.30 per ton. Soy Oil ...

ZMZ24 : 304.5s (+0.13%)
ZLZ24 : 40.38s (+3.59%)
ZSU24 : 952-0s (+1.14%)
ZSPAUS.CM : 9.2864 (+1.11%)
ZSX24 : 973-0s (+1.20%)
ZSX24 : 973-0s (+1.20%)
ZSPX24US.CM : 9.1185 (+1.27%)
Wheat Extends Collapse into Friday’s Close

Wheat futures fell across all three exchanges on Friday. Chicago SRW futures were down 4 ¼ to 8 ¾ cents across the board, as September was down 27 ¾ on the week. KC HRW was 6 ¾ to 10 cents lower on...

ZWU24 : 502-2s (-1.71%)
ZWZ24 : 528-0s (-1.40%)
KEU24 : 520-0s (-1.75%)
KEZ24 : 535-0s (-1.83%)
MWU24 : 551-6s (-2.90%)
Corn Falls into the Weekend

Corn futures faded lower into the weekend across most contracts. Futures were down 2 to 4 cents in the front months, as they closed out the week. A few deferred contracts were steady to 1 ¾ cents higher....

ZCU24 : 367-6s (-1.01%)
ZCPAUS.CM : 3.5565 (-1.03%)
ZCZ24 : 391-0s (-0.64%)
ZCZ24 : 391-0s (-0.64%)
ZCPZ24US.CM : 3.6360 (-0.82%)
Shootin' the Bull about traversing quicksand

In my opinion, traders opened a wide swath of quicksand for producers to have to traverse as markets seek convergence.

Soybeans Holding Gains at Midday

Soybeans are posting strength on Friday, as contracts are up 7 to 8 cents in the nearby. Soymeal futures are down 50 cents/ton in the nearby Sep contract. Soy Oil are showing some strength and up 96...

ZMZ24 : 304.5s (+0.13%)
ZLZ24 : 40.38s (+3.59%)
ZSU24 : 952-0s (+1.14%)
ZSPAUS.CM : 9.2864 (+1.11%)
ZSX24 : 973-0s (+1.20%)
ZSX24 : 973-0s (+1.20%)
ZSPX24US.CM : 9.1185 (+1.27%)
Corn Slipping into Friday’s Midday

Corn futures are fading off the earlier Friday strength for losses at midday. Contracts are down 1 to 2 ¼ cents across the contracts so far on the session. Weekly Export Sales data old crop corn export...

ZCU24 : 367-6s (-1.01%)
ZCPAUS.CM : 3.5565 (-1.03%)
ZCZ24 : 391-0s (-0.64%)
ZCZ24 : 391-0s (-0.64%)
ZCPZ24US.CM : 3.6360 (-0.82%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 67.89
2nd Resistance Point 67.89
1st Resistance Point 67.89
Last Price 67.89s
1st Support Level 67.89
2nd Support Level 67.89
3rd Support Level 67.89

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52-Week High 70.00
Last Price 67.89s
Fibonacci 61.8% 60.27
Fibonacci 50% 57.26
Fibonacci 38.2% 54.26
52-Week Low 44.53

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