Soybean Oil May '17 (ZLK17)
Price PerformanceSee More
|Period||Period Low||Period High||Performance|
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+1.39 (+4.45%)since 04/12/17
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-2.26 (-6.48%)since 02/10/17
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-0.40 (-1.21%)since 05/12/16
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Soybean futures settled with fractional to 2 1/4 cents gains in most contracts. Sep soy meal was down $2/ton, with nearby bean oil up 66 points. The USDA announced private export sales of 295,220 MT sold to unknown destinations, with 11,220 MT for 16/17 and 284,000 MT for 17/18. In addition to that sale, they reported 640,970 MT of cancellations for 16/17 soybeans to China through their daily reporting system. FJ Tour pod counts for Indiana were higher than the 3-year average. Nebraska average 1131 pods in a 3x3 square, which is 51 below the three year average. Ahead of tomorrow’s USDA report analysts are estimating 250,000-450,000 MT in 16/17 sales with 400,000-600,000 MT in 17/18 sales. Soymeal sales are projected at 75,000-250,000 MT, with soyoil ranging 8,000-40,000 MT. China imported 10.08 MT of soybeans in July, 29.92% larger than July 2016. Of the total 499,922 MT came from the US, which was more than the US got in July 2016. Sep 17 Soybeans closed at $9.35, up 1 1/4 cents, Nov 17 Soybeans closed at $9.38, up 1/2 cent, Jan 18 Soybeans closed at $9.46 3/4, up 1 cent, May 18 Soybeans closed at $9.63 1/2, up 2 cents, Sep 17 Soybean Meal closed at $293.30, down $2.00, Sep 17 Soybean Oil closed at $34.72, up $0.66
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