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Soybean Oil Jan '24 (ZLF24)

47.75s -0.62 (-1.28%) 01/12/24 [CBOT]
N/A x N/A N/A x N/A
underlying price ()
Quote Overview for Fri, Jan 12th, 2024
Day Low
47.75
Day High
47.75
Open 0.00
Previous Close 48.37 48.37
Volume 19 19
Open Interest 10 10
Relative Strength 41.94% 41.94%
Weighted Alpha -22.25 -22.25
5-Day Change +0.58 (+1.23%) +0.58 (+1.23%)
52-Week Range 44.51 - 65.09 44.51 - 65.09
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Soybean Oil Futures Market News and Commentary

Soybeans Rally as USDA Slashes Acreage

Soybeans are trading with early gains of 10 to 12 cents on Wednesday morning. Futures closed out the Tuesday session with contracts up 21 to 22 ¼ cents across the front months. Preliminary open interest suggest some short covering, down 2,351 contracts. The cmdtyView national average Cash Bean price was up 20 1/4 cents at $9.72 3/4. Soymeal futures were $0.70 to $2.10/ton higher. Soy Oil futures were 1 to 15 points in the green. There were another 118 August soybean meal deliveries overnight, with 3 issued for soybean oil. August futures expires on Thursday.

Tuesday morning’s Crop Production report showed offsetting changes on the supply side, as acreage was cut a massive 2.5 million acres to 80.9 million. FSA certified acres were tallied at 79.76 million acres. Yield was pegged at 53.6 bpa, which was above the trade ideas of 53 bpa coming in. Production was tallied at 4.292 bbu, a 43 mbu reduction from the July WASDE vs. an estimated 39 mbu hike coming in.

Old crop carr... 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 Aug 5, 2025

View Chart Details
Commercials - Long / Short
269,368 (-6,170)
355,386 (-23,611)
Non-Commercials - Long / Short
145,207 (-8,663)
70,261 (+3,447)
Producers - Long / Short
142,726 (-6,394)
324,762 (-24,309)
Swap Dealers - Long / Short
111,419 (-11)
15,401 (+463)
Managed Money - Long / Short
97,551 (-6,979)
43,837 (+1,415)
Other Reportables - Long / Short
47,656 (-1,684)
26,424 (+2,032)
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
Period Open: 50.42
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
Period Open: 52.76
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
Period Open: 60.66
65.09 -26.64%
on 07/24/23
-12.91 (-21.28%)
since 01/12/23

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Soybeans Rally as USDA Slashes Acreage

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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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