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Soybean Oil Jul '23 (ZLN23)

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Soybean Oil Futures Market News and Commentary

Soybeans Pull Out Friday Gains After Week of Losses

Soybeans were pressured for much of the week with weaker product values, but managed to close Friday with gains of 1 ¼ to 7 cents. January was still down 15 cents since last Friday’s close. CmdtyView’s national front month Cash Bean price was up 5 3/4 cents at $9.33. Soymeal futures were up $1.50 to $2.70/ton across the board, to help ease the week’s losses to just 40 cents for December. Soy Oil futures were down 29 to 46 points at the close, with December down 358 points since last Friday.

USDA reported a private export sale of 198,000 MT of 2024/25 soybeans this morning to unknown destinations.

CFTC’s Commitment of Traders report indicated soybean spec traders adding back 13,165 contracts to their net short position as of Tuesday, to 67,701 contracts. Commercials were trimming their net short by 13,976 contracts to 30,200 contracts as of 11/19. In soybean meal, the large spec funds were net short 63,700 contracts, a near record and increase of 36,069 contracts on the w... 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 Nov 19, 2024

View Chart Details
Commercials - Long / Short
285,534 (+11,453)
366,605 (-18,359)
Non-Commercials - Long / Short
161,005 (-20,747)
92,841 (+8,314)
Producers - Long / Short
133,087 (+9,963)
324,814 (-19,390)
Swap Dealers - Long / Short
123,251 (+1,021)
12,595 (+562)
Managed Money - Long / Short
101,534 (-14,723)
49,207 (+5,920)
Other Reportables - Long / Short
59,471 (-6,024)
43,634 (+2,394)
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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Most Recent Stories

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December Soybean Meal has decreased by over 17% since early October.  The current leg down has a 52-day duration which is similar to the 48 days drop between late May and mid-July.

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ZWH25 : 564-6s (-0.83%)
Soybeans Pull Out Friday Gains After Week of Losses

Soybeans were pressured for much of the week with weaker product values, but managed to close Friday with gains of 1 ¼ to 7 cents. January was still down 15 cents since last Friday’s close. CmdtyView’s...

ZLF25 : 41.84s (-1.04%)
ZMF25 : 291.5s (+0.73%)
ZSPAUS.CM : 9.3300 (+0.64%)
ZSF25 : 983-4s (+0.59%)
ZSX24 : 985-6s (-1.84%)
ZSH25 : 992-2s (+0.71%)

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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