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Soybean Oil May '24 (ZLK24)

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Soybean Oil Futures Market News and Commentary

Soybeans Slipping on Wednesday, on Outside Pressure

Soybeans are trading with contracts 9 to 11 ¼ cent losses so far on Wednesday. The cmdtyView national average Cash Bean price is down 10 1/2 cents at $11.36 1/2. Soymeal futures are down $1.70 to $2 on the day, with Soy Oil futures 70 to 90 points lower. Crude oil losses of $6.27 is adding pressure as US and Iran negotiations are reportedly in the final stages.

Export sales data will be published by USDA on Thursday, as analysts are estimated to total 150,000 MT to 450,000 MT for 2025/26. New crop sales are seen at 0-200,000 MT. Soybean meal is expected at 200,000 to 600,000 MT, with bean oil in a range of net reductions of 5,000 MT to sales of 12,000 MT.

Abiove estimates the 2026 Brazilian soybean export total at 114.1 MMT, up 0.5 MMT from their previous number, with crush expected at 62.5 MMT, up 0.3 MMT. Soybean stocks are estimated at 8.25 MMT, up 1.49 MMT.

Chinese import data showed a total of 3.33 MMT of soybeans imported from the US in April with total impor... 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
04/30/24
Expiration Date
05/14/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of May 12, 2026

View Chart Details
Commercials - Long / Short
304,533 (+15,724)
474,140 (+2,625)
Non-Commercials - Long / Short
209,451 (-11,370)
51,349 (-585)
Producers - Long / Short
184,448 (+10,889)
437,413 (+2,191)
Swap Dealers - Long / Short
92,591 (+3,208)
9,233 (-1,193)
Managed Money - Long / Short
179,226 (-10,557)
19,689 (-3,135)
Other Reportables - Long / Short
30,225 (-813)
31,660 (+2,550)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
41.99 +1.64%
on 04/30/24
46.32 -7.86%
on 04/15/24
-3.21 (-6.99%)
since 04/12/24
3-Month
41.99 +1.64%
on 04/30/24
49.80 -14.30%
on 03/18/24
-4.25 (-9.06%)
since 02/14/24
52-Week
41.99 +1.64%
on 04/30/24
64.03 -33.34%
on 07/24/23
-5.36 (-11.16%)
since 05/12/23

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Most Recent Stories

More News
Crude Oil Crashed 7% on Iran Deal Headlines — And Grains Paid the Price

If you came in this morning looking for a quiet Wednesday, the market had other plans. Grains got taken to the woodshed, and the fingerprints all over the scene came from outside the ag complex.

Shootin' the Bull about odd trading

If I thought Tuesday was odd, what am I thinking today?  I am in awe of the dynamic price movement, both higher and lower reflecting how discombobbled the market has become.

Grains, Livestock, and Geopolitics: How to Read What the Ag Markets Are Actually Telling Us

Barchart Senior Market Analyst Darin Newsom breaks down the morning's downward trend in grain and livestock futures, advising market participants to look past political headlines and unconfirmed Chinese...

ZSN26 : 1199-6s (-0.81%)
LEM26 : 253.275s (-0.50%)
ZWN26 : 660-4s (-1.01%)
ZCN26 : 465-6s (-2.00%)
CLN26 : 98.26s (-5.66%)
Corn Facing Crude Oil Pressure on Wednesday

Corn futures are trading with 10 to 11 cent losses in the front months on Wednesday. The CmdtyView national average Cash Corn price is down 10 3/4 cents to $4.24 1/4. Crude oil losses of $6.27 is adding...

ZCZ26 : 489-2s (-1.71%)
ZCU26 : 472-4s (-1.87%)
ZCN26 : 465-6s (-2.00%)
ZCPZ26US.CM : 4.5131 (-1.83%)
ZCPAUS.CM : 4.2563 (-2.16%)
Soybeans Slipping on Wednesday, on Outside Pressure

Soybeans are trading with contracts 9 to 11 ¼ cent losses so far on Wednesday. The cmdtyView national average Cash Bean price is down 10 1/2 cents at $11.36 1/2. Soymeal futures are down $1.70 to $2 on...

ZSPAUS.CM : 11.3687 (-0.80%)
ZLN26 : 74.66s (-1.03%)
ZMN26 : 330.9s (-0.42%)
ZSPX26US.CM : 11.2658 (-0.84%)
ZSX26 : 1193-4s (-0.79%)
ZSN26 : 1199-6s (-0.81%)
ZSQ26 : 1199-2s (-0.87%)
Wheat Falling Lower on Wednesday

The wheat complex is trading with losses across most contracts on the midweek session. Chicago SRW futures are falling back 8 to 9 cents on the day. KC HRW futures are trading with 5 to 7 cent losses at...

KEU26 : 709-2s (-0.67%)
KEN26 : 698-6s (-0.71%)
MWN26 : 6.9450s (-0.29%)
ZWN26 : 660-4s (-1.01%)
ZWU26 : 673-4s (-0.99%)
Wheat Slipping Back on Wednesday Morning

Wheat is trading with early weakness in most contracts on Wednesday morning. The wheat market was mixed at the Tuesday close, with Chicago contracts up and spring wheat lower. Chicago SRW futures were...

KEU26 : 709-2s (-0.67%)
KEN26 : 698-6s (-0.71%)
MWN26 : 6.9450s (-0.29%)
ZWN26 : 660-4s (-1.01%)
ZWU26 : 673-4s (-0.99%)
Soybeans Facing Early Midweek Weakness

Soybeans are down 6 to 6 3/4 cents so far on Wednesday AM trade. Futures slipped into the close, with contracts down 1 ¼ to 3 ¾ cents in the front months and up 1 to 2 cents across the rest of the board....

ZSPAUS.CM : 11.3687 (-0.80%)
ZLN26 : 74.66s (-1.03%)
ZMN26 : 330.9s (-0.42%)
ZSPX26US.CM : 11.2658 (-0.84%)
ZSX26 : 1193-4s (-0.79%)
ZSN26 : 1199-6s (-0.81%)
ZSQ26 : 1199-2s (-0.87%)
Corn Falling Back Early on Wednesday

Corn prices are down 4 to 5 ½ cents so far on Wednesday morning. Futures corrected from the sharp Monday gains on Tuesday, with contracts steady to 1 ¾ cents lower at the close. Preliminary open interest...

ZCZ26 : 489-2s (-1.71%)
ZCU26 : 472-4s (-1.87%)
ZCN26 : 465-6s (-2.00%)
ZCPZ26US.CM : 4.5131 (-1.83%)
ZCPAUS.CM : 4.2563 (-2.16%)
Has the Grain Train been derailed?

Grain futures saw strength early on in the week but have struggled to hold ground in the first half of the week. Are seasonal tops in for corn and beans?

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 42.68
2nd Resistance Point 42.68
1st Resistance Point 42.68
Last Price 42.68s
1st Support Level 42.68
2nd Support Level 42.68
3rd Support Level 42.68

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52-Week High 64.03
Fibonacci 61.8% 55.61
Fibonacci 50% 53.01
Fibonacci 38.2% 50.41
Last Price 42.68s
52-Week Low 41.99

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