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Soybean Oil Jul '24 (ZLN24)

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Soybean Oil Futures Market News and Commentary

Soybeans Bouncing Following Ratings Drop

Soybeans are 2 to 3 cents higher as we start the Tuesday session. They leaked lower for much of Monday, with contracts down 13 ¼ to 22 ¼ cents across the board.  Soymeal futures were down $5.90 to $8.50/ton to pile on the pressure.  Soy Oil futures found 1 to 5 point strength in the front months, helped by more positive NOPA oil stocks data.

The weekly NASS Crop Progress report indicated 93% of the US soybean crop was planted, 2% ahead of average, with 82% emerged and 3% faster than normal. They reported condition ratings down 2% to 70% gd/ex.  The Brugler500 index, taking in all 5 ratings categories, was 3 points lower to 376.

NOPA May crush was 183.63 million bushels, ~ 5 million bushels stronger than the trade expected and a record for the month, Soybean oil stocks came in at 1.723 billion lbs, well below trade estimates and the recently revised 1.832 billion lbs from April. The BO stocks were down  7.91% from last year. The numbers imply stronger biofuel use as price... 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 (10 days)
Expiration Date
07/12/24 (24 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 11, 2024

View Chart Details
Commercials - Long / Short
303,783 (-5,765)
259,617 (-17,248)
Non-Commercials - Long / Short
116,384 (+1,866)
165,335 (+14,232)
Producers - Long / Short
160,520 (+3,450)
244,747 (-7,263)
Swap Dealers - Long / Short
130,171 (+758)
1,778 (-12)
Managed Money - Long / Short
56,323 (-2,589)
130,783 (+16,003)
Other Reportables - Long / Short
60,061 (+4,455)
34,552 (-1,771)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
43.03 +1.65%
on 06/05/24
46.72 -6.38%
on 05/22/24
-1.53 (-3.38%)
since 05/17/24
3-Month
42.53 +2.85%
on 05/09/24
50.27 -12.99%
on 04/02/24
-5.53 (-11.22%)
since 03/18/24
52-Week
42.53 +2.85%
on 05/09/24
63.54 -31.16%
on 07/24/23
-12.32 (-21.98%)
since 06/16/23

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Most Recent Stories

More News
Wheat Continuing Retreat on Tuesday

The wheat complex is posting mixed trade as we kick off the Tuesday session, with many of the front months heading lower. They continued its steep descent on Monday, with double digit losses across all...

ZWN24 : 588-0 (-0.59%)
ZWU24 : 606-2 (-0.29%)
KEN24 : 605-6 (+0.04%)
KEU24 : 616-0 (+0.08%)
MWN24 : 637-4 (-0.16%)
Soybeans Bouncing Following Ratings Drop

Soybeans are 2 to 3 cents higher as we start the Tuesday session. They leaked lower for much of Monday, with contracts down 13 ¼ to 22 ¼ cents across the board. Soymeal futures were down $5.90 to $8.50/ton...

ZMZ24 : 347.5 (+0.75%)
ZLZ24 : 43.88 (-0.02%)
ZSN24 : 1162-2 (+0.39%)
ZSPAUS.CM : 11.0775 (+0.47%)
ZSQ24 : 1150-2 (+0.37%)
ZSX24 : 1133-4 (+0.29%)
ZSPX24US.CM : 10.7188 (+0.32%)
Corn Getting Some Positive Reaction to Lower Crop Ratings

Corn is trading 1 to 2 cents higher on your Tuesday morning. Futures were down 4 ¼ to7 ½ cents across the board on Monday, continuing the Friday pull back. Weather forecasts over the next week calling...

ZCN24 : 447-0 (+0.73%)
ZCPAUS.CM : 4.3109 (+0.85%)
ZCU24 : 453-0 (+0.67%)
ZCZ24 : 465-6 (+0.59%)
ZCPZ24US.CM : 4.3621 (+0.65%)
Soybeans Closes Near the Lows

Soybeans leaked lower for much of the Monday session, as contracts were down 13 ¼ to 22 ¼ cents across the board. Soymeal futures were down $5.90 to $8.50/ton to pile on the pressure. Soy Oil futures...

ZMZ24 : 347.5 (+0.75%)
ZLZ24 : 43.88 (-0.02%)
ZSN24 : 1162-2 (+0.39%)
ZSPAUS.CM : 11.0775 (+0.47%)
ZSQ24 : 1150-2 (+0.37%)
ZSX24 : 1133-4 (+0.29%)
ZSPX24US.CM : 10.7188 (+0.32%)
Corn Falls into Monday’s Close, USDA Shows Drop in Ratings

Corn futures picked up where they left off on Friday, as contracts were down 4 ¼ to7 ½ cents across the board on Monday. Pressure was from the double-digit losses in wheat and beans. Weather forecast...

ZCN24 : 447-0 (+0.73%)
ZCPAUS.CM : 4.3109 (+0.85%)
ZCU24 : 453-0 (+0.67%)
ZCZ24 : 465-6 (+0.59%)
ZCPZ24US.CM : 4.3621 (+0.65%)
Wheat Collapses to Start the Week

The wheat complex continued its steep descent on Monday, with double digit losses across all three exchanges. Kansas City contracts were leading the bear charge, with contracts down 13 to 22 cents. Chicago...

ZWN24 : 588-0 (-0.59%)
ZWU24 : 606-2 (-0.29%)
KEN24 : 605-6 (+0.04%)
KEU24 : 616-0 (+0.08%)
MWN24 : 637-4 (-0.16%)
Hogs Break out of Trading Range

Hogs start week on a positive note

Grain Spreads: Corn Pressure

Corn Closes Near Key Support

Pure Hedge - Livestock and Grain

Beans Traded to Expected Levels - Cattle Weak - Time to get Long Corn?

Crop Progress

Crop Progress - 2024-06-17

ZSX24 : 1133-4 (+0.29%)
ZSPAUS.CM : 11.0775 (+0.47%)
ZSBAUS.CM : -0.5516 (+0.99%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSU24 : 3,931s (-1.11%)
XTU24 : 4,527s (-0.59%)
ZCZ24 : 465-6 (+0.59%)
ZCPAUS.CM : 4.3109 (+0.85%)
ZCBAUS.CM : -0.1628 (+1.15%)
XVU24 : 2,474s (-0.52%)
XEU24 : 60.74 (+0.28%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 44.78
2nd Resistance Point 44.33
1st Resistance Point 44.03
Last Price 43.74
1st Support Level 43.28
2nd Support Level 42.83
3rd Support Level 42.53

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52-Week High 63.54
Fibonacci 61.8% 55.51
Fibonacci 50% 53.03
Fibonacci 38.2% 50.56
Last Price 43.74
52-Week Low 42.53

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