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Soybean Oil Mar '23 (ZLH23)
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Soybean Oil Futures Market News and Commentary

Red Start for Soy Trade

Soy futures are trading red across the markets. Beans are 5 to 10 cents lower, meal is down $3.50 to $4.50/ton, and soy oil is 3-11 points weaker. The nearby soy market ended the Tuesday session 13 to 19 cents lower. May beans printed a wide 32 cent range on the day, but closed near the low. Meal futures faded back from their midday gains and closed Tuesday $0.70 to $2.10/ton in the red across the front months. Soy oil prices were 2.5% to 3% weaker at the bell. 

Preliminary open interest rose 3,386 contracts on Tuesday, net new selling concentrated in the November delivery month.  Soy oil saw net new selling across the board, rising 3,065 contracts for the day. 

The latest CoT release showed soybean spec traders were 127,661 contracts net long in soybeans as of 3/14. That was a weekly drop of 29.7k contracts via long liquidation. The commercial soybean traders added new longs for the week, which reduced the group’s net short by 23k contracts to 196.7k. Managed money was... 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
02/28/23
Expiration Date
03/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Mar 14, 2023

View Chart Details
Commercials - Long / Short
265,446 (+22,025)
265,976 (+57)
Non-Commercials - Long / Short
73,733 (-6,546)
72,819 (+14,126)
Producers - Long / Short
151,193 (+19,817)
253,680 (-1,778)
Swap Dealers - Long / Short
106,805 (+378)
4,848 (+5)
Managed Money - Long / Short
51,096 (-4,686)
54,415 (+16,863)
Other Reportables - Long / Short
22,637 (-1,860)
18,404 (-2,737)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
55.34 +0.90%
on 03/13/23
63.67 -12.30%
on 02/22/23
-4.56 (-7.55%)
since 02/14/23
3-Month
55.34 +0.90%
on 03/13/23
66.97 -16.62%
on 12/27/22
-7.00 (-11.14%)
since 12/14/22
52-Week
53.97 +3.46%
on 07/14/22
77.77 -28.20%
on 06/08/22
-6.58 (-10.54%)
since 03/14/22

More Soybean Oil Quotes

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Most Recent Stories

More News
Soybean Wednesday Forecast

The downtrend may be expected to continue, while market is trading below resistance level 1469,2, which will be followed by reaching support level 1421,6

Corn Wednesday Forecast

The downtrend may be expected to continue, while market is trading below resistance level 621,2, which will be followed by reaching support level 598 – 593,4

IMPORTANT: Managing Risk in New Crop Corn and Beans

New crop weekly options can be a great tool to gain short term market exposure or hedge short term risks.

Wheats Dropping Another Double Digits

The midweek wheat market is currently 10 to 15 cents lower after a mostly one directional overnight. Wheats extended the downside again on Tuesday by another 1-2% across the winter wheat markets. MGE wheat...

ZWK23 : 666-4 (-2.45%)
ZWN23 : 677-0 (-2.24%)
ZWPAES.CM : 6.1367 (-2.78%)
KEK23 : 814-2 (-0.73%)
KEPAWS.CM : 7.7551 (-0.80%)
MWK23 : 838-6 (-0.83%)
Red Start for Soy Trade

Soy futures are trading red across the markets. Beans are 5 to 10 cents lower, meal is down $3.50 to $4.50/ton, and soy oil is 3-11 points weaker. The nearby soy market ended the Tuesday session 13 to...

ZSK23 : 1453-6 (-0.90%)
ZSPAUS.CM : 14.1619 (-1.00%)
ZSN23 : 1431-2 (-1.19%)
ZSQ23 : 1385-2 (-1.30%)
Corn Red for Day Trade

Current corn prices are 3 to 7 cents in the red going into the midweek’s day trade. The corn futures market ended Tuesday’s session 2 3/4 to 4 1/4 cents in the red. The Dollar Index was lower again...

DXM23 : 102.750 (-0.14%)
ZCK23 : 630-0 (unch)
ZCPAUS.CM : 6.3327 (-0.06%)
ZCN23 : 609-6 (-0.25%)
ZCU23 : 558-6 (-0.84%)
Are Wheat Prices Poised to Come Up from the Basement?

During the past 52 weeks, wheat prices have fallen by 49%. That's a fast elevator ride down. Managed money traders have crowded the bakery with short positions. Is it time for a seasonal relief rally?

ZWN23 : 677-0 (-2.24%)
XWN23 : 676-4 (-2.31%)
WEAT : 6.76 (-1.87%)
Tuesday Losses for Wheat Market

Wheats extended the downside again on Tuesday by another 1-2% across the winter wheat markets. MGE wheat futures were down 5 3/4 to 6 1/2 cents on Tuesday. CFTC provided positions data as of the 3/14...

ZWK23 : 666-4 (-2.45%)
ZWN23 : 677-0 (-2.24%)
ZWPAES.CM : 6.1367 (-2.78%)
KEK23 : 814-2 (-0.73%)
KEPAWS.CM : 7.7551 (-0.80%)
MWK23 : 838-6 (-0.83%)
Soybean Futures Drop Double Digits

The nearby soy market ended the Tuesday session 13 to 19 cents lower. May beans printed a wide 32 cent range on the day, but closed near the low. Meal futures faded back from their midday gains and closed...

ZSK23 : 1453-6 (-0.90%)
ZSPAUS.CM : 14.1619 (-1.00%)
ZSN23 : 1431-2 (-1.19%)
ZSQ23 : 1385-2 (-1.30%)
Red Close from Corn Market

The corn futures market ended Tuesday’s session 2 3/4 to 4 1/4 cents in the red. For May that was 8 1/4 cents off the day’s high. The Dollar Index was lower again on Tuesday, going into the widely...

DXM23 : 102.750 (-0.14%)
ZCK23 : 630-0 (unch)
ZCPAUS.CM : 6.3327 (-0.06%)
ZCN23 : 609-6 (-0.25%)
ZCU23 : 558-6 (-0.84%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 55.84
2nd Resistance Point 55.84
1st Resistance Point 55.84
Last Price 55.84s
1st Support Level 55.84
2nd Support Level 55.84
3rd Support Level 55.84

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52-Week High 77.77
Fibonacci 61.8% 68.68
Fibonacci 50% 65.87
Fibonacci 38.2% 63.06
Last Price 55.84s
52-Week Low 53.97

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