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Soybean Oil Jul '24 (ZLN24)

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Soybean Oil Futures Market News and Commentary

Soybeans Close with Mixed Action on Tuesday

Soybeans ended the Tuesday session with contracts mixed, as nearby contracts were up ¼ to 5 ½ cents, as back months were ¾ to 2 ¾ cents lower. Soymeal was up $1.30 to $3.20/ton in the front months, with deferred contracts down $1.60 to $6.10. Soy Oil continued to rally on Tuesday, with futures up 79 to 110 points. 

Indonesia has threatened 200% tariffs on Chinese consumer goods, with possible implications being increase Chinese tariffs on Indonesian goods including palm oil.

Monday’s Crop Progress report showed KS, LA, and the Dakotas were lagging behind in blooming pace, as most other states were above normal. Soybean conditions in the ECB were improving, with IL up 6 points on the Brugler500 index and IN 8 points higher. MO and SD were both up 3 points, as IA was down 3 points, with NE 2 points lower and MN losing 4 points.

USDA’s attaché in Brazil estimates the country’s soybean crop at 150 MMT in their latest release, compared to the official WAOB projection of... 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 (10 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 25, 2024

View Chart Details
Commercials - Long / Short
321,287 (+12,430)
246,204 (-21,146)
Non-Commercials - Long / Short
119,940 (-7,097)
195,679 (+21,456)
Producers - Long / Short
176,897 (+17,354)
237,628 (-15,226)
Swap Dealers - Long / Short
137,385 (+760)
1,571 (-236)
Managed Money - Long / Short
57,071 (-3,537)
164,460 (+20,545)
Other Reportables - Long / Short
62,869 (-3,560)
31,219 (+911)
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 +10.42%
on 06/25/24
47.08 -0.32%
on 07/02/24
+1.41 (+3.10%)
since 05/31/24
3-Month
42.50 +10.42%
on 06/25/24
49.82 -5.80%
on 04/03/24
-2.22 (-4.52%)
since 04/02/24
52-Week
42.50 +10.42%
on 06/25/24
63.54 -26.14%
on 07/24/23
-8.83 (-15.84%)
since 06/30/23

More Soybean Oil Quotes

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Most Recent Stories

More News
Soybeans Close with Mixed Action on Tuesday

Soybeans ended the Tuesday session with contracts mixed, as nearby contracts were up ¼ to 5 ½ cents, as back months were ¾ to 2 ¾ cents lower. Soymeal was up $1.30 to $3.20/ton in the front months,...

ZMZ24 : 328.2 (-0.03%)
ZLZ24 : 46.66 (-0.13%)
ZSN24 : 1162-0 (-0.26%)
ZSPAUS.CM : 11.1251 (+0.47%)
ZSQ24 : 1148-4 (-0.15%)
ZSX24 : 1112-4 (-0.04%)
ZSPX24US.CM : 10.5170 (+0.14%)
Wheat Falls on Turnaround Tuesday

The wheat market fell lower on the Tuesday session. Chicago futures gave back some of Monday’s gains with losses of 5 ¾ to 9 ¼ cents. Kansas City futures slipped back 1 ¾ to 9 ¾ cents. MPLS spring...

ZWN24 : 563-6 (+0.40%)
ZWU24 : 583-2 (+0.39%)
KEN24 : 591-6 (-0.21%)
KEU24 : 592-6 (+0.08%)
MWN24 : 628-0s (unch)
Corn Pulls Back to Close Mixed on Tuesday

Corn futures closed out the Tuesday session mixed, as contracts faded off the early strength. Front months were fractionally to 3 ¾ cents higher, with deferred contracts steady to 5 ½ cents lower. A...

ZCN24 : 402-2 (+0.06%)
ZCPAUS.CM : 3.9326 (+0.47%)
ZCU24 : 407-2 (-0.18%)
ZCZ24 : 420-2 (-0.24%)
ZCPZ24US.CM : 3.9137 (+0.17%)
Wheat Dropping on Turnaround Tuesday

The wheat market is pulling back on the Tuesday session. Chicago futures are down 7 to 9 cents at midday. Delivery notices vs. July CBT wheat slowed to 201 contracts overnight, with all but 3 stopped by...

ZWN24 : 563-6 (+0.40%)
ZWU24 : 583-2 (+0.39%)
KEN24 : 591-6 (-0.21%)
KEU24 : 592-6 (+0.08%)
MWN24 : 628-0s (unch)
Soybeans Pull Back from Double Digit Gains

Soybeans are posting fractional to 5 cent gains so far on Tuesday’s midday, despite double digit gains earlier in the day. There were no deliveries vs. July soybeans. The oldest soybean long awaiting...

ZMZ24 : 328.2 (-0.03%)
ZLZ24 : 46.66 (-0.13%)
ZSN24 : 1162-0 (-0.26%)
ZSPAUS.CM : 11.1251 (+0.47%)
ZSQ24 : 1148-4 (-0.15%)
ZSX24 : 1112-4 (-0.04%)
ZSPX24US.CM : 10.5170 (+0.14%)
Corn Pulling Off Morning Highs

Corn futures are slipped back lower into midday, with contracts front months up fractionally to 2 ¾ cents and new crop December down ¼ cents. Deliveries against July corn futures slowed overnight, to...

ZCN24 : 402-2 (+0.06%)
ZCPAUS.CM : 3.9326 (+0.47%)
ZCU24 : 407-2 (-0.18%)
ZCZ24 : 420-2 (-0.24%)
ZCPZ24US.CM : 3.9137 (+0.17%)
Does the Relief Rally in Grains Have Legs?

Corn and soybeans have found their footing in the overnight and early morning trade, is the rally sustainable or is it just temporary relief?

Corn Rallying on Tuesday Morning

Corn prices are 2 to 4 ¼ cents higher early on Tuesday morning. Futures were in minus territory pressure for much of the day on July 1, but firmed in the last hour. Front months settled within a penny...

ZCN24 : 402-2 (+0.06%)
ZCPAUS.CM : 3.9326 (+0.47%)
ZCU24 : 407-2 (-0.18%)
ZCZ24 : 420-2 (-0.24%)
ZCPZ24US.CM : 3.9137 (+0.17%)
Wheat Mixed in Tuesday Morning Trade

Wheat prices are mixed so far on your Tuesday morning. Futures posted double digit gains across most contracts on Monday. Chicago futures were up 10 to 16 ¾ cents across most contracts. Kansas City futures...

ZWN24 : 563-6 (+0.40%)
ZWU24 : 583-2 (+0.39%)
KEN24 : 591-6 (-0.21%)
KEU24 : 592-6 (+0.08%)
MWN24 : 628-0s (unch)
Soybeans Up Double Digits to Begin Tuesday

Soybeans are trading 10 to 15 cents higher this morning, with more help from the products. They found some assistance from bean oil on Monday, as futures were up 7 to 12 ½ cents across most contracts....

ZMZ24 : 328.2 (-0.03%)
ZLZ24 : 46.66 (-0.13%)
ZSN24 : 1162-0 (-0.26%)
ZSPAUS.CM : 11.1251 (+0.47%)
ZSQ24 : 1148-4 (-0.15%)
ZSX24 : 1112-4 (-0.04%)
ZSPX24US.CM : 10.5170 (+0.14%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 48.03
2nd Resistance Point 47.56
1st Resistance Point 47.24
Last Price 46.93s
1st Support Level 46.45
2nd Support Level 45.98
3rd Support Level 45.66

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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 46.93s
52-Week Low 42.50

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