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Soybean Oil Mar '23 (ZLH23)
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Soybean Oil Futures Market News and Commentary

Soymeal Missed Out on Friday Rally

Most ag markets saw strength into the weekend, though meal futures were down $1.70 to $3.60 for the settle. July soymeal was down a net $4.40 for the week. Soybean prices ended the session with double digit gains of as much as 23 cents. July was a net 15 1/4 cents higher for the week’s move, while November settled at a net weekly loss of 5 3/4 cents. Friday’s soy oil trade left futures 3.4% higher with triple digit gains. That flipped July BO net higher for the week. USDA cited the MN cash B100 price at $3.82 for the week, UNCH from last week. 

CFTC data had the soybean spec traders at just a 529 contract net long at the settle of 5/30. That was a 3,618 contract weaker net long through the week as more longs were closed than were shorts. The last time spec traders were net short in soybeans was April of 2020 during Covid. Commercial soybean hedgers lightened their net short by 5k contracts to 74k as of 5/30. The weekly update had managed money at a 59,676 contract net long in... 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
$2,310/2,100
First Notice Date
02/28/23
Expiration Date
03/14/23 (expired)

Seasonal Chart

Soybean Oil Mar '23
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of May 30, 2023

View Chart Details
Commercials - Long / Short
311,897 (+9,649)
278,262 (+4,925)
Non-Commercials - Long / Short
80,635 (-6,207)
111,883 (-2,822)
Producers - Long / Short
178,517 (+5,904)
257,458 (+2,646)
Swap Dealers - Long / Short
116,916 (+896)
4,340 (-570)
Managed Money - Long / Short
47,735 (-2,193)
88,035 (-642)
Other Reportables - Long / Short
32,900 (-4,014)
23,848 (-2,180)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
55.34 +0.90%
on 03/13/23
63.67 -12.30%
on 02/22/23
-4.56 (-7.55%)
since 02/14/23
3-Month
55.34 +0.90%
on 03/13/23
66.97 -16.62%
on 12/27/22
-7.00 (-11.14%)
since 12/14/22
52-Week
53.97 +3.46%
on 07/14/22
77.77 -28.20%
on 06/08/22
-6.58 (-10.54%)
since 03/14/22

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Soymeal Missed Out on Friday Rally

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Grain markets had an impressive rally to round out the week, here's how things shook out at the close.

Some of today’s strength may have come on the back of weather premium working its way back into the market ahead of the weekend. Many top producing states have been hot and try and some forecasts show...

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 55.84
2nd Resistance Point 55.84
1st Resistance Point 55.84
Last Price 55.84s
1st Support Level 55.84
2nd Support Level 55.84
3rd Support Level 55.84

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52-Week High 77.77
Fibonacci 61.8% 68.68
Fibonacci 50% 65.87
Fibonacci 38.2% 63.06
Last Price 55.84s
52-Week Low 53.97

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