Join Now Why Join?
Log In or Login with Facebook
Symbol Search  
or enter GC* - Gold Futures
Quotes and Charts
YOU ARE HERE:  Futures » Quotes and Charts » Profile
+ Alert
+ Portfolio

Soybean Oil 1st Front Month  (ZL*1)

49.31-0.04 (-0.08%) 7:54P EDT (CBOT)
Commodity Price Quote as of Wednesday, Jun 19th, 2013 View Help

Contract Specifications

Symbol ZL
Name Soybean Oil (ZL)
Exchange CBOT
Trading Months January, March, May, July, August, September, October, December (F, H, K, N, Q, U, V, Z)
Trading Unit 60,000 pounds
Tick Size 0.0001 cent per pound ($6.00 per contract)
Daily Limit 2.5 cents per pound ($1,500 per contract)
Trading Hours 7:00p.m. - 7:45a.m. and 8:30a.m. - 1:15p.m. (Sun-Fri) CST
Last Trading Day The business day prior to the 15th calendar day of the contract month
Value of one futures unit $600
Value of one options unit $600

CRB Yearbook Description

Soybean oil is the natural oil extracted from whole soybeans. Typically, about 19% of a soybean's weight can be extracted as crude soybean oil. The oil content of U.S. soybeans correlates directly with the temperatures and amount of sunshine during the soybean pod-filling stages. Edible products produced with soybean oil include cooking and salad oils, shortening, and margarine. Soybean oil is the most widely used cooking oil in the U.S. It accounts for 80% of margarine production and for more than 75% of total U.S. consumer vegetable fat and oil consumption. Soy oil is cholesterol-free and high in polyunsaturated fat. Soy oil is also used to produce inedible products such as paints, varnish, resins, and plastics. Of the edible vegetable oils, soy oil is the world's largest at about 32%, followed by palm oil and rapeseed oil. Soybean oil futures and options are traded on the Chicago Board of Trade (CBOT).

Prices - Soybean oil futures prices at the Chicago Board of Trade in 2011 traded sideways early in the year. Soybean oil futures prices then sold off moderately in September and closed 2011 down -10% at 52.09 cents per pound.

Regarding cash prices, for the year 2011-12 (through December 2011), the average monthly price of crude domestic soybean oil (in tank cars) in Decatur (F.O.B.) fell by -4.0% yr/yr to 51.08 cents per pound.

Supply - World production of soybean oil in 2011-12 rose +3.4% yr/yr to a new record high of 43,266 million metric tons. The U.S. accounts for 19.8% of world soybean oil production, while Brazil accounts for 16.3%, and the European Union accounts for 5.6%. U.S. production of soybean oil in 2011-12 fell -0.7% yr/yr to 18.605 billion pounds.

Demand - World consumption of soybean oil in 2011-12 rose +4.0% yr/yr to a new record high of 43.396 million metric tons. The U.S. accounted for 18.7% of world consumption, while Brazil accounted for 12.8%, the European Union for 6.6%, and India for 5.6%. U.S. consumption of soybean oil in 2011-12 rose +5.4% yr/yr to 17.700 billion pounds.

Trade - World exports of soybean oil in 2011-12 fell -8.0% yr/yr to 9.197 million metric tons. U.S. exports of soybean oil in 2011-12 fell -63.9% yr/yr to 1.200 billion pounds, well below 2009-10 record high of 3.359 billion pounds.

Articles from the Commodity Research Bureau (CRB) Commodity Yearbook. The single most comprehensive source of commodity and futures market information available, the Yearbook is the book of record of the Commodity Research Bureau, which is, in turn, the organization of record for the commodity industry itself. Its sources - reports from governments, private industries, and trade and industrial associations - are authoritative, and its historical scope is second to none. Additional information can be found at www.crbyearbook.com.
More commodity data from Commodity Research Bureau.