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Soybean Oil Jan '24 (ZLF24)

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Soybean Oil Futures Market News and Commentary

Soybeans Trading with Friday Gains

Soybeans futures are trading with contracts 3 to 8 cents higher as nearby May is down 1 ½ cents.  The cmdtyView national average Cash Bean price is up 9 cents at $11.32 1/4. Soymeal futures are steady to $1.70 lower, with Soy Oil futures up 22 to 42 points. There were 367 soybean delivery notices overnight, with another 712 issued against May soybean oil and still no for bean meal.

EIA data showed soybean oil used for biodiesel at 1.058 million lbs in February. That was a 7 month high for bean oil use and 44.34% of the overall feedstock in biodiesel/renewable biodiesel. 

USDA’s monthly Fats & Oils report will be published later this afternoon, with traders looing for March crush to total 231.1 million bushels. Soybean oil stocks are seen at 2.555 billion lbs. 

USDA’s weekly Export Sales report from Thursday has total soybean commitments at 38.776 MMT, an 18% decline from the same week last year. That was also 93% of the USDA export number and 4 percentage points be... 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
12/29/23
Expiration Date
01/12/24 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Apr 21, 2026

View Chart Details
Commercials - Long / Short
317,537 (-2,301)
498,917 (+21,425)
Non-Commercials - Long / Short
224,348 (+27,865)
55,267 (+5,730)
Producers - Long / Short
205,346 (-5,617)
454,055 (+22,466)
Swap Dealers - Long / Short
84,514 (+3,349)
17,185 (-1,008)
Managed Money - Long / Short
190,794 (+21,213)
22,851 (+3,487)
Other Reportables - Long / Short
33,554 (+6,652)
32,416 (+2,243)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
46.18 +3.40%
on 01/08/24
51.64 -7.53%
on 12/20/23
-2.67 (-5.30%)
since 12/12/23
3-Month
46.18 +3.40%
on 01/08/24
55.41 -13.82%
on 10/16/23
-5.01 (-9.50%)
since 10/12/23
52-Week
44.51 +7.28%
on 05/31/23
65.09 -26.64%
on 07/24/23
-12.91 (-21.28%)
since 01/12/23

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Most Recent Stories

More News
Corn Posting Gains to Round Out the Week

Corn futures are trading with contracts up 5 to 7 ¼ cents across most contracts on Friday. The CmdtyView national average Cash Corn price is higher on the day to $4.41 ¾. USDA reported a private export...

ZCZ26 : 498-6 (+0.91%)
ZCN26 : 480-2 (+1.16%)
ZCK26 : 468-0 (+0.70%)
ZCPZ26US.CM : 4.6203 (+1.07%)
ZCPAUS.CM : 4.3852 (+1.58%)
Soybeans Trading with Friday Gains

Soybeans futures are trading with contracts 3 to 8 cents higher as nearby May is down 1 ½ cents. The cmdtyView national average Cash Bean price is up 9 cents at $11.32 1/4. Soymeal futures are steady...

ZSPAUS.CM : 11.3653 (+1.18%)
ZLN26 : 75.00 (+0.62%)
ZMN26 : 319.4 (+0.16%)
ZSPX26US.CM : 11.1652 (+1.01%)
ZSX26 : 1182-2 (+0.79%)
ZSK26 : 1188-0 (+0.51%)
ZSN26 : 1203-0 (+0.63%)
Wheat Trading Mostly Higher at Midday

The wheat complex is showing mostly modest gains on Friday. Chicago SRW futures are mixed, with May down 3 ½ cents and other contracts up 1 to 2 cents. There were 312 delivery notices against May CBT...

KEN26 : 696-2 (+0.40%)
KEK26 : 683-0 (+0.74%)
MWK26 : 6.9975 (+0.72%)
ZWK26 : 626-6 (+0.48%)
ZWN26 : 638-0 (+0.20%)
What Can the CFTC Do About It?

There are more calls for the CFTC to step in and start regulating all the new "trading" (aka gambling) taking place in markets these days. The problem is the Commission's hands are tied.

NGM26 : 2.775 (+0.29%)
ZWN26 : 638-0 (+0.20%)
Soybeans Posting Friday AM Strength

Soybeans are extending higher on Friday morning, with contracts up 3 to 4 cents. Futures bounced off early session lows on Thursday to close with contracts down ¼ to 1 ½ cents in old crop contracts and...

ZSPAUS.CM : 11.3653 (+1.18%)
ZLN26 : 75.00 (+0.62%)
ZMN26 : 319.4 (+0.16%)
ZSPX26US.CM : 11.1652 (+1.01%)
ZSX26 : 1182-2 (+0.79%)
ZSK26 : 1188-0 (+0.51%)
ZSN26 : 1203-0 (+0.63%)
Corn Back to Higher Trade on Friday Morning

Corn price action is mixed early on Friday, morning, with the now in-delivery May down 1 ¼ cents and other contracts 2 to 3 cents higher. Futures posted modest losses to close out April with contracts...

ZCZ26 : 498-6 (+0.91%)
ZCN26 : 480-2 (+1.16%)
ZCK26 : 468-0 (+0.70%)
ZCPZ26US.CM : 4.6203 (+1.07%)
ZCPAUS.CM : 4.3852 (+1.58%)
Wheat Trading with Friday AM Gains

Wheat is mostly higher on Friday morning, with the nearby May thin and in-deliveries. The wheat complex posted some profit taking on Thursday, with all three markets facing pressure. Chicago SRW futures...

KEN26 : 696-2 (+0.40%)
KEK26 : 683-0 (+0.74%)
MWK26 : 6.9975 (+0.72%)
ZWK26 : 626-6 (+0.48%)
ZWN26 : 638-0 (+0.20%)
Soybeans: The Battle for $12.00 & $12.70 Price Targets

Nearby soybeans battle $12.00 as farmers watch the 200-week moving average. Our analysis shows why this market rally could reach a $12.70 target.

ZSN26 : 1203-0 (+0.63%)
Soybean Meal Is a Value-Buying Opportunity, And These Prices Highlight a Swing Trade Here

July soybean meal futures present a swing-trade buying opportunity on more price strength.

ZMN26 : 319.4 (+0.16%)
ZWN26 : 638-0 (+0.20%)
ZCN26 : 480-2 (+1.16%)
New crop corn and soybeans continue to impress. Is a bigger move coming this Spring/Summer?

April proved to be another strong month for grains. Can the winning streak continue in May? Fundamental catalysts and technical tailwinds may be able to help prices surprise to the upside.

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 47.75
2nd Resistance Point 47.75
1st Resistance Point 47.75
Last Price 47.75s
1st Support Level 47.75
2nd Support Level 47.75
3rd Support Level 47.75

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52-Week High 65.09
Fibonacci 61.8% 57.23
Fibonacci 50% 54.80
Fibonacci 38.2% 52.37
Last Price 47.75s
52-Week Low 44.51

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