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Soybean Oil May '23 (ZLK23)

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Soybean Oil Futures Market News and Commentary

Soybeans Rally on Soymeal Short Covering

The soybean market closed out the Thursday session with contracts up 12 ¼ to 17 ½ cents across the board. CmdtyView’s national front month Cash Bean price was 13 cents at $9.37. Soymeal futures led the rally on Argentine dryness, with contracts up $9.60 to $13.30/ton higher. Soy Oil futures posted losses of 25 to 49 points at the close.

Forecasts for the next week are calling for near normal rains in most of Brazil, with the Southern portion as well as Argentina seeing dryness creep in. The first week plus of January is seeing some extended dryness in those parts. Meal specs are covering shorts with the drier weather outlook.

The weekly Export Sales report will be released on Friday due to the holiday. Analysts estimate a total of 1 to 1.8 MMT of 2024/25 soybeans were sold in the week of 12/19, with 70,000 to 125,000 MT for 2025/26. Soybean meal sales are seen at 200,000 to 450,000 MT, with 5,000 to 15,000 MT bean oil. 

Stats Canada showed the November canola crush... 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
04/28/23
Expiration Date
05/12/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Dec 17, 2024

View Chart Details
Commercials - Long / Short
299,589 (+1,324)
334,155 (-14,861)
Non-Commercials - Long / Short
142,261 (-2,083)
108,911 (+7,430)
Producers - Long / Short
157,459 (+1,174)
298,137 (-17,118)
Swap Dealers - Long / Short
114,760 (-2,823)
8,648 (-716)
Managed Money - Long / Short
70,972 (-7,540)
69,590 (+4,365)
Other Reportables - Long / Short
71,289 (+5,457)
39,321 (+3,065)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
49.89 unch
on 05/12/23
56.06 -11.01%
on 04/19/23
-4.11 (-7.61%)
since 04/12/23
3-Month
49.89 unch
on 05/12/23
63.83 -21.84%
on 02/22/23
-10.77 (-17.75%)
since 02/10/23
52-Week
49.89 unch
on 05/12/23
76.73 -34.98%
on 06/08/22
-21.79 (-30.40%)
since 05/12/22

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Most Recent Stories

More News
Soybeans Rally on Soymeal Short Covering

The soybean market closed out the Thursday session with contracts up 12 ¼ to 17 ½ cents across the board. CmdtyView’s national front month Cash Bean price was 13 cents at $9.37. Soymeal futures led...

ZLH25 : 40.17 (+0.73%)
ZMH25 : 313.2 (-0.54%)
ZSPAUS.CM : 9.3696 (+1.41%)
ZSF25 : 986-4 (-0.15%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 995-0 (-0.23%)
Wheat Posts Gains Out of Christmas Break

The wheat market pushed higher across the three markets on Thursday. Chicago SRW futures were up 4 ¾ to 7 cents on the session. KC HRW contracts closed with 7 to 8 cent gains across the board. MPLS spring...

KEK25 : 557-4 (-0.36%)
MWH25 : 591-6 (-0.38%)
KEH25 : 549-4 (-0.36%)
ZWH25 : 539-6 (-0.23%)
ZWK25 : 550-6 (-0.23%)
Corn Post Jolly Trade on Thursday

Corn futures came out of the Christmas holiday break with contracts up 2 ¾ to 6 ½ cents and hitting the highest prices since June. The national average Cash Corn price from cmdtyView was up 5 cents at...

ZCPAUS.CM : 4.2412 (+1.19%)
ZCZ24 : 430-0s (-0.41%)
ZCH25 : 453-2 (-0.11%)
ZCK25 : 460-0 (-0.11%)
Do Grains and Oilseed Futures Offer Value for 2025?

After reaching multi-year highs, and in CBOT wheat’s case, an all-time peak in 2022, grain and oilseed futures prices have plunged. Farmers in the Northern Hemisphere are on vacation after the 2024 harvest,...

ZCH25 : 453-2 (-0.11%)
ZWH25 : 539-6 (-0.23%)
SOYB : 21.14 (+1.85%)
CORN : 18.63 (+1.47%)
WEAT : 4.74 (+0.85%)
ZSF25 : 986-4 (-0.15%)
Shootin' the Bull about the stopping the beating when morale improves.

Of one thing that is for sure, with packing and production capacity well over the number of animals to take care of, rationing will continue.

Corn Bulls Feeling Jolly After Christmas Break

Corn price action is trading 3 to 5 cents higher so far on Thursday’s midday, as traders come out of the Christmas Holiday. The national average Cash Corn price from cmdtyView is up 3 1/4 cent at $4.22...

ZCPAUS.CM : 4.2412 (+1.19%)
ZCZ24 : 430-0s (-0.41%)
ZCH25 : 453-2 (-0.11%)
ZCK25 : 460-0 (-0.11%)
Soybeans Rallying with Meal as Specs Covering Shorts on Argentine Dryness

The soybean is trading with double digit 10 to 15 cent gains so far on Thursday as the meal rally is providing product support. CmdtyView’s national front month Cash Bean price is up 11 1/2 cents at...

ZLH25 : 40.17 (+0.73%)
ZMH25 : 313.2 (-0.54%)
ZSPAUS.CM : 9.3696 (+1.41%)
ZSF25 : 986-4 (-0.15%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 995-0 (-0.23%)
Wheat Popping Higher on Thursday

The wheat market is trading with gains on Thursday’s midday across all three markets. Chicago SRW futures are up 8 to 9 cents on the session. KC HRW contracts are 9 to 10 cents lower across the nearby...

KEK25 : 557-4 (-0.36%)
MWH25 : 591-6 (-0.38%)
KEH25 : 549-4 (-0.36%)
ZWH25 : 539-6 (-0.23%)
ZWK25 : 550-6 (-0.23%)
Soybeans Face Potential Resistance

Soybeans have rallied

ZSH25 : 995-0 (-0.23%)
What's Behind the Real Breakdown of the Brazilian Real?

This week has seen the Brazilian Real fall to a new all-time low versus the US dollar.

^BRLUSD : 0.16175 (+0.01%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 49.89
2nd Resistance Point 49.89
1st Resistance Point 49.89
Last Price 49.89s
1st Support Level 49.89
2nd Support Level 49.89
3rd Support Level 49.89

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52-Week High 76.73
Fibonacci 61.8% 66.48
Fibonacci 50% 63.31
Fibonacci 38.2% 60.14
Last Price 49.89s
52-Week Low 49.89

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