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Soybean Oil Jan '23 (ZLF23)

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Soybean Oil Futures Market News and Commentary

Soy Futures Fade on Friday

At the close beans were 14 cents weaker in the March contract and a dime in the red in the May. The other nearby beans closed fractionally to 8 1/2 cents lower. March is still at a nickel premium to May and is a 13 1/2 cent premium to July. New crop beans lessened their discount, but are still $1.58 below the spot market. In the products, meal closed Friday $2.50 to $3.60 in the red. For March that finished the week with a net $9.80 gain and just $13.50 below the contract high. BO prices went into the weekend with Friday losses of 5 to 17 points. USDA cited the B100 cash price at $5.50/gal in MN for the week, a 20c drop from last week. 

CFTC reported managed money soybean spec traders were 146,261 contracts net long as of 1/24. That was a 22k contract weaker net long through the week as the funds closed 14k longs and added 8k new shorts. Commercial soybean hedgers added 15k new long hedges which helped weaken their net short by 19k contracts to 179,807. In the products, the sp... 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
$2,970/2,700
First Notice Date
12/30/22
Expiration Date
01/13/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 24, 2023

View Chart Details
Commercials - Long / Short
203,133 (+15,371)
247,647 (-11,192)
Non-Commercials - Long / Short
80,599 (-8,795)
41,349 (+11,450)
Producers - Long / Short
101,107 (+10,777)
239,946 (-9,862)
Swap Dealers - Long / Short
98,988 (+5,116)
4,663 (-808)
Managed Money - Long / Short
55,888 (-8,884)
23,242 (+8,497)
Other Reportables - Long / Short
24,711 (+89)
18,107 (+2,953)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
61.40 +3.01%
on 01/13/23
68.30 -7.39%
on 12/27/22
-0.87 (-1.36%)
since 12/13/22
3-Month
58.94 +7.31%
on 12/12/22
75.94 -16.71%
on 11/11/22
-1.47 (-2.27%)
since 10/13/22
52-Week
54.29 +16.50%
on 07/14/22
78.78 -19.71%
on 06/08/22
+6.03 (+10.54%)
since 01/13/22

More Soybean Oil Quotes

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Most Recent Stories

More News
Wheat Sees Spread Trading on Friday

SRW futures closed the last trade day of the week with 1 3/4 to 2 3/4 cent losses. The hard red wheats extended their premiums as KC rallied 1 3/4 to 5 cents on the day and MPLS gained 1 1/2 to 3 1/2 cents....

ZWH23 : 750-0s (-0.33%)
ZWK23 : 758-6s (-0.23%)
ZWPAES.CM : 6.9588 (-0.35%)
KEH23 : 869-2s (+0.52%)
KEPAWS.CM : 8.3412 (+0.54%)
MWH23 : 921-4s (+0.38%)
Soy Futures Fade on Friday

At the close beans were 14 cents weaker in the March contract and a dime in the red in the May. The other nearby beans closed fractionally to 8 1/2 cents lower. March is still at a nickel premium to May...

ZSH23 : 1509-4s (-0.92%)
ZSPAUS.CM : 14.7192 (-0.96%)
ZSK23 : 1504-4s (-0.68%)
ZSN23 : 1496-0s (-0.56%)
Corn Closes Mostly Red on Friday

The March corn contract ended the last trade day of the week with a fractional gain, while the other nearby contracts went home 2 1/4 to 3 1/2 cents in the red. That added to the board’s inverse, which...

ZCH23 : 683-0s (unch)
ZCPAUS.CM : 6.8572 (+0.12%)
ZCK23 : 680-0s (unch)
ZCN23 : 665-6s (-0.34%)
Is Corn Ready for a Seasonal February Rally?

After correcting a portion of the recent rally off the seasonal lows, corn appears to be ready to resume its post-harvest rally, as February has historically seen the uptrend continue into the first week...

ZCH23 : 683-0s (unch)
XNH23 : 683-0s (unch)
CORN : 26.54 (-0.15%)
Livestock Report

Hogs test resistance and fails

Shootin' the Bull about cattle

In my opinion, there is a divide between reality and optimism that is believed presenting an opportunity to market inventory at prices today, that may or may not be available in the future. 

SRW Red to Hard Red Gains

Friday wheat spreading has the CBT market down by 2 1/2 to 3 1/4 cents through midday, while the hard red classes remain in the black. KC HRW is trading 3 3/4 to 5 3/4 cents higher so far and MPLS HRS...

ZWH23 : 750-0s (-0.33%)
ZWK23 : 758-6s (-0.23%)
ZWPAES.CM : 6.9588 (-0.35%)
KEH23 : 869-2s (+0.52%)
KEPAWS.CM : 8.3412 (+0.54%)
MWH23 : 921-4s (+0.38%)
Weaker Bean Prices Through Friday

Midday soy quotes are red so far for Friday. Beans are fractionally lower in new crop to a dime in the red for March. Meal quotes are down by $2 to $2.70/ton in the front months. Soybean oil futures are...

ZSH23 : 1509-4s (-0.92%)
ZSPAUS.CM : 14.7192 (-0.96%)
ZSK23 : 1504-4s (-0.68%)
ZSN23 : 1496-0s (-0.56%)
Mixed Corn Board at Midday

The Friday trades have corn prices mixed with a penny stronger old crop and a penny weaker new crop. The spot (March) premium to December is now 95 cents on the board. USDA saw the week’s average ethanol...

ZCH23 : 683-0s (unch)
ZCPAUS.CM : 6.8572 (+0.12%)
ZCK23 : 680-0s (unch)
ZCN23 : 665-6s (-0.34%)
Friday's Last Call: 2023 HRW Wheat, The Crop That's Not

The Kansas City (HRW) looks to be in position to change direction as spring comes into view, partly due to the 2023 HRW crop being not due to draught.

KEPAUS.CM : 8.3286 (+0.55%)
KEN23 : 853-2s (+0.53%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 65.72
2nd Resistance Point 64.48
1st Resistance Point 63.87
Last Price 63.25s
1st Support Level 62.02
2nd Support Level 60.78
3rd Support Level 60.17

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52-Week High 78.78
Fibonacci 61.8% 69.42
Fibonacci 50% 66.54
Fibonacci 38.2% 63.65
Last Price 63.25s
52-Week Low 54.29

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