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Soybean Oil Pit Cash (BOY00)

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Soybean Oil (Pit) Futures Market News and Commentary

Soybeans Mixed as New Crop Leads Charge Higher

Beans are showing weakness in the front months on Tuesday, with July down 3 ¾, as new crop contracts are up 6 to 8 cents. Soymeal is pulling back on Turnaround Tuesday, with contracts down $2 to $3/ton. Soy Oil is looking higher for the second day in a row, as futures are up 55 to 60 points at midday.

There have still been zero deliveries against May soy meal.  There were 16 put out against May BO overnight, with May soybeans seeing none after heavier early deliveries were absorbed. 

US soybean production is expected to be tallied at 4.449 bbu in this Friday WASDE showing the initial 24/25 balance sheet. USDA typically stays with the March Intentions number for planted acreage, as most in the trade expect them to adopt the 52 bpa trendline yield that was used February Outlook forum.  

Stats Canada showed canola stocks on March 31 at 8.263 MMT, a 17.5% increase from last year, with actual soybean stocks down 0.9% at 2.046 MMT. 

Crop Progress data showed 25% of... Read more

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Price Performance

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Period Period Low Period High Performance
1-Month
43.77 +7.70%
on 02/29/24
49.17 -4.13%
on 03/21/24
+3.37 (+7.70%)
since 02/26/24
3-Month
43.77 +7.70%
on 02/29/24
50.28 -6.25%
on 01/04/24
-3.14 (-6.25%)
since 12/26/23
52-Week
43.77 +7.70%
on 02/29/24
74.25 -36.51%
on 07/27/23
-8.38 (-15.09%)
since 03/24/23

More Soybean Oil (Pit) Quotes

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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Strong Signal Strength.

Key Turning Points

3rd Resistance Point 47.14
2nd Resistance Point 47.14
1st Resistance Point 47.14
Last Price 47.14s
1st Support Level 47.14
2nd Support Level 47.14
3rd Support Level 47.14

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52-Week High 74.25
Fibonacci 61.8% 62.61
Fibonacci 50% 59.01
Fibonacci 38.2% 55.41
Last Price 47.14s
52-Week Low 43.77

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