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Soybean Oil Jan '19 (ZLF19)

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Soybean Oil Futures Market News and Commentary

Mixed Close for Report Day Soybeans

Old crop beans ended the day with 1 to 1 ¼ cent losses, while the new crop contracts finished as much as 8 ¼ cents in the black. The May soybean contract finished the week with the same 1c loss, but was still up 50 cents through the month of March. Nov beans were UNCH for the week and finished the month up by 53 cents. The new crop soy/corn ratio was 2.483 at the close, which was up from the 2.446 ratio starting the month. Front month Soymeal futures closed Friday with 0.5% losses, which left May with a $1.40 loss on the week but $8.50 higher for the month. Soy Oil futures closed off their highs on Thursday, but still 29 points in the black. May BO was 31 points higher for the week and was 274 points higher for the month of March.  

The March Intentions data showed an 86.510 million acre planted area for 24/25 soybeans. That’s up 2.9 million acres from last year vs the trade estimate to see 1.9 million more bean acres. The largest increase was +700k acres for ND, while MO was... 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
12/31/18
Expiration Date
01/14/19 (expired)

Seasonal Chart

Soybean Oil Jan '19
Average Price Chart for 5 Prior Jan Contracts

Commitment of Traders Positions as of Mar 19, 2024

View Chart Details
Commercials - Long / Short
264,146 (+9,995)
247,759 (+24,106)
Non-Commercials - Long / Short
108,981 (-3,671)
129,187 (-15,987)
Producers - Long / Short
128,872 (+8,173)
231,752 (+20,302)
Swap Dealers - Long / Short
124,123 (-2,453)
4,856 (-471)
Managed Money - Long / Short
73,135 (-1,274)
88,234 (-19,353)
Other Reportables - Long / Short
35,846 (-2,397)
40,953 (+3,366)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
27.27 +3.08%
on 12/27/18
28.82 -2.46%
on 12/19/18
-0.38 (-1.33%)
since 12/14/18
3-Month
27.18 +3.42%
on 11/27/18
30.11 -6.64%
on 10/16/18
-1.52 (-5.13%)
since 10/12/18
52-Week
27.18 +3.42%
on 11/27/18
34.07 -17.49%
on 02/06/18
-5.51 (-16.39%)
since 01/12/18

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Most Recent Stories

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Wheat Followed Corn’s Rally on Thursday

Despite neutral to bear-friendly NASS data, wheat futures rallied into the 3-day Holiday weekend. The spring wheat futures faded on the higher acreage to close 3 ½ to 6 cents in the red. Chicago prices...

ZWK24 : 560-2s (+2.33%)
ZWN24 : 575-6s (+2.31%)
KEK24 : 585-2s (+1.21%)
MWK24 : 645-0s (-0.92%)
Corn Rallied into 3-Day Weekend with NASS Data

Thursday’s trading session left the corn market ~6c off the day’s highs, but still 13 to 16 cents in the black. Old crop May ended the week with a 2 ¾ cent gain and finished the last trade day of...

ZCK24 : 442-0s (+3.57%)
ZCPAUS.CM : 4.2047 (+3.97%)
ZCN24 : 454-4s (+3.47%)
ZCU24 : 464-4s (+3.57%)
Mixed Close for Report Day Soybeans

Old crop beans ended the day with 1 to 1 ¼ cent losses, while the new crop contracts finished as much as 8 ¼ cents in the black. The May soybean contract finished the week with the same 1c loss, but...

ZMK24 : 337.7s (-0.38%)
ZLK24 : 47.95s (+0.59%)
ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSN24 : 1205-2s (-0.10%)
ZSQ24 : 1203-6s (-0.10%)
Shootin' the Bull about no more cheap corn

With the aspects of cheap corn now out of the picture, those declining cost of gains is now expected to rise.  While not necessarily bullish, the report is in no way bearish.  I think what it will do...

Corn Futures Rally Following Bullish USDA Report

The USDA report showed fewer acres of corn which sent prices sharply higher into the long weekend.

Agricultural Prices

Agricultural Prices - 2024-03-28

ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSBAUS.CM : -0.5658 (+1.27%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,791s (-1.07%)
XTK24 : 4,754s (+0.44%)
ZCK24 : 442-0s (+3.57%)
ZCPAUS.CM : 4.2047 (+3.97%)
ZCBAUS.CM : -0.2152 (+3.58%)
XVK24 : 2,400s (+0.54%)
XEU24 : 61.17 (-0.44%)
Corn Rallies Out of Reports

Corn futures shot higher after NASS released data near midday. Current prices are working at or near their highs for the day with double digit gains of as much as 17 ¼ cents. NASS data showed corn stocks...

ZCK24 : 442-0s (+3.57%)
ZCPAUS.CM : 4.2047 (+3.97%)
ZCN24 : 454-4s (+3.47%)
ZCU24 : 464-4s (+3.57%)
Beans Back to Mixed for Midday

Soybeans were fading into the reports, before rallying out of the release. Current quotes are back to mixed as the new crop futures are holding fractional to 4 cent gains and old crop prices are back to...

ZMK24 : 337.7s (-0.38%)
ZLK24 : 47.95s (+0.59%)
ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSN24 : 1205-2s (-0.10%)
ZSQ24 : 1203-6s (-0.10%)
Wheat Futures Up Double Digits

Midday wheat futures are gaining double digits for midday, with prices ~5 cents off their highs. Chicago is up by as much as 2.9% for midday. KC wheat is gaining 8 to 11 cents so far. Spring wheat futures...

ZWK24 : 560-2s (+2.33%)
ZWN24 : 575-6s (+2.31%)
KEK24 : 585-2s (+1.21%)
MWK24 : 645-0s (-0.92%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 28.17
1st Resistance Point 28.14
Last Price 28.11s
1st Support Level 28.05
2nd Support Level 27.99
3rd Support Level N/A

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52-Week High 34.07
Fibonacci 61.8% 31.44
Fibonacci 50% 30.63
Fibonacci 38.2% 29.81
Last Price 28.11s
52-Week Low 27.18

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