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Soybean Oil May '24 (ZLK24)

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Soybean Oil Futures Market News and Commentary

Soybeans Close with Weaker Trade on Friday

Soybeans settled with losses of 7 to 8 ½ cents across the board on the Friday session, as November slipped a total of 28 cents this week. CmdtyView’s national front month Cash Bean price was down 8 1/4 cents at $9.75 3/4. Soymeal was down 30 cents to $2.50/ton across most contracts. Soy Oil futures were down 35 to 65 points on the day.

CFTC reported managed money specs in soybeans cutting 40,092 contracts from their net short position as of Tuesday. By October 1 they were net short just 34,886 contracts. Commercials were adding 23,087 contracts to a new net short of 30,332 contracts.

A private export sale of 116,000 MT of soybeans was reported to China by the USDA this morning through their daily reporting system. 

Thursday morning’s Export Sales report export commitments at 18.942 MMT, up 3% from last year. That is also 38% of the USDA export projection, compared to the 47% average pace for this time of year.

Brazil’s soybean exports during September totaled... 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
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Oct 1, 2024

View Chart Details
Commercials - Long / Short
257,296 (-9,734)
312,285 (+22,839)
Non-Commercials - Long / Short
150,223 (+8,032)
100,029 (-23,764)
Producers - Long / Short
107,253 (-10,838)
283,833 (+16,928)
Swap Dealers - Long / Short
129,410 (-2,965)
7,819 (+1,842)
Managed Money - Long / Short
87,842 (+9,479)
68,828 (-26,390)
Other Reportables - Long / Short
62,381 (-1,447)
31,201 (+2,626)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
41.99 +1.64%
on 04/30/24
46.32 -7.86%
on 04/15/24
-3.21 (-6.99%)
since 04/12/24
3-Month
41.99 +1.64%
on 04/30/24
49.80 -14.30%
on 03/18/24
-4.25 (-9.06%)
since 02/14/24
52-Week
41.99 +1.64%
on 04/30/24
64.03 -33.34%
on 07/24/23
-5.36 (-11.16%)
since 05/12/23

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Soybeans Close with Weaker Trade on Friday

Soybeans settled with losses of 7 to 8 ½ cents across the board on the Friday session, as November slipped a total of 28 cents this week. CmdtyView’s national front month Cash Bean price was down 8...

ZLZ24 : 43.97s (-1.26%)
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ZSX24 : 1037-6s (-0.79%)
ZSX24 : 1037-6s (-0.79%)
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Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 42.68
2nd Resistance Point 42.68
1st Resistance Point 42.68
Last Price 42.68s
1st Support Level 42.68
2nd Support Level 42.68
3rd Support Level 42.68

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52-Week High 64.03
Fibonacci 61.8% 55.61
Fibonacci 50% 53.01
Fibonacci 38.2% 50.41
Last Price 42.68s
52-Week Low 41.99

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