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Soybean Oil May '18 (ZLK18)

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Soybean Oil Futures Market News and Commentary

Soybeans Drops into Thursday Close

Soybeans headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts held up at or above $12. Soymeal futures were down on the day, as contracts fell $1.70 to 6.80/ton. Soy Oil saw triple digit losses in the front months, with contracts down 60 to 115 points across the board.

Weekly Export Sales data saw old crop bookings at 428,898 MY during the week that ended on May 2, a 4-week high. Unknown destinations was the buyer of 168,800 MT, with Egypt purchasing 70,800 MT. New crop sales were just 4,580 MT. Soy meal bookings were tallied at 209,266 MT for 23/24 and 19,209 MT for 24/25. Bean oil sales were seen at 11,581 MT, for the current MY, with 4,582 MT for next year.

Traders expect WASDE data on Friday to leave 23/24 soybean carryout at 341 mbu, up 1 mbu from April. New crop numbers are expected to see a build to that, with an ending stocks total at 439 mbu and production at 4.449 bbu. For the World totals, old crop stocks at 112... 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
$1,980/1,800
First Notice Date
04/30/18
Expiration Date
05/14/18 (expired)

Seasonal Chart

Soybean Oil May '18
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 30, 2024

View Chart Details
Commercials - Long / Short
290,371 (-1,534)
235,015 (-25,885)
Non-Commercials - Long / Short
109,597 (-5,860)
166,039 (+19,241)
Producers - Long / Short
144,599 (-3,430)
222,655 (-22,908)
Swap Dealers - Long / Short
136,401 (+4,885)
2,989 (+12)
Managed Money - Long / Short
67,167 (-2,347)
131,475 (+15,542)
Other Reportables - Long / Short
42,430 (-3,513)
34,564 (+3,699)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
29.95 +3.91%
on 05/01/18
31.58 -1.46%
on 04/16/18
-0.36 (-1.14%)
since 04/13/18
3-Month
29.95 +3.91%
on 05/01/18
32.96 -5.58%
on 02/26/18
-0.78 (-2.45%)
since 02/15/18
52-Week
29.95 +3.91%
on 05/01/18
36.56 -14.88%
on 09/07/17
-2.68 (-7.93%)
since 05/15/17

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Most Recent Stories

More News
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Corn futures closed out the Pre-WASDE trade session with contracts down 1 to 2 ¾ cents across most contracts. A few deferreds were steady to 1 ¼ cents higher. USDA issued a flash sale of 132,080 MT of...

ZCK24 : 443-4 (+0.17%)
ZCPAUS.CM : 4.3668 (+0.74%)
ZCN24 : 459-6 (+0.71%)
ZCZ24 : 482-6 (+0.57%)
ZCPZ24US.CM : 4.5344 (+0.61%)
Wheat Held Higher on Thursday

The wheat complex saw the bulls holding up on Thursday. Chicago contracts were up ¾ to 3 ¾ cents on the day. Kansas City futures closed with gains of 3 to 3 ¾ cents across most contracts. MPLS spring...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 653-6 (+2.55%)
KEK24 : 675-6s (+2.66%)
KEN24 : 670-6 (+2.92%)
MWK24 : 708-2s (unch)
Soybeans Drops into Thursday Close

Soybeans headed lower on Thursday, with contracts down 7 ¼ to 20 cents across the board, as the 2024 contracts held up at or above $12. Soymeal futures were down on the day, as contracts fell $1.70 to...

ZMN24 : 374.8 (+0.51%)
ZLN24 : 43.09 (+1.06%)
ZSK24 : 1196-6 (+0.34%)
ZSPAUS.CM : 11.4627 (-1.69%)
ZSN24 : 1212-2 (+0.31%)
ZSX24 : 1201-4 (+0.08%)
ZSPX24US.CM : 11.3882 (-1.11%)
Shootin' the Bull about definitive moves in feeders

A definitive move in the feeder cattle futures today is believed to have set the stage for further declines.  On the mid day cattle commentary, I noted a close above $255.22, or under $251.75 August,...

Wheat Pulling Away From Highs, Still Holding Midday Gains

The wheat complex has pulled back from the double digit strength we was earlier in the session but is still higher at midday. Chicago contracts are up 2 to 6 cents so far on the day. Kansas City futures...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 653-6 (+2.55%)
KEK24 : 675-6s (+2.66%)
KEN24 : 670-6 (+2.92%)
MWK24 : 708-2s (unch)
Soybeans Threating to Pull Back Below $12

Soybeans are struggling on Thursday, as contracts are down 10 to 17 cents at midday, and November threating the slip below $12. Soymeal futures are down $3.90 to $4.10/ton. Soy Oil is also falling at midday,...

ZMN24 : 374.8 (+0.51%)
ZLN24 : 43.09 (+1.06%)
ZSK24 : 1196-6 (+0.34%)
ZSPAUS.CM : 11.4627 (-1.69%)
ZSN24 : 1212-2 (+0.31%)
ZSX24 : 1201-4 (+0.08%)
ZSPX24US.CM : 11.3882 (-1.11%)
Wheat Back to Heading Higher on Russia Frost Fears

The wheat complex is posting double digit gains across most contracts this morning. Wheat saw selling across all three markets on Wednesday. Chicago wheat contracts were down 8 ¼ to 9 ½ cents on the...

ZWK24 : 619-6s (+0.61%)
ZWN24 : 653-6 (+2.55%)
KEK24 : 675-6s (+2.66%)
KEN24 : 670-6 (+2.92%)
MWK24 : 708-2s (unch)
Soybeans Down To Start Thursday

Soybeans are posting lower trade on Thursday morning with contracts down 3 to 5 cents. Bulls took a breather on Wednesday, as contracts were down 9 ¼ to 19 ½ cents across the board. Soymeal also pulled...

ZMN24 : 374.8 (+0.51%)
ZLN24 : 43.09 (+1.06%)
ZSK24 : 1196-6 (+0.34%)
ZSPAUS.CM : 11.4627 (-1.69%)
ZSN24 : 1212-2 (+0.31%)
ZSX24 : 1201-4 (+0.08%)
ZSPX24US.CM : 11.3882 (-1.11%)
Corn Slipping Lower Ahead of Export Sales Data

Corn is trading fractionally to a penny lower ahead of this morning’s Export Sales report. Futures pulled back on Wednesday after a couple weeks of rallying and with a USDA report on the horizon tomorrow....

ZCK24 : 443-4 (+0.17%)
ZCPAUS.CM : 4.3668 (+0.74%)
ZCN24 : 459-6 (+0.71%)
ZCZ24 : 482-6 (+0.57%)
ZCPZ24US.CM : 4.5344 (+0.61%)
No Bull | The Five Spot

#5 | Unintended Consequences The U.S. imported a record amount of fats and oils in March, fueling a boom in renewable diesel production (literally). Imports of heavy-hitter feedstocks used cooking oil,...

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 31.17
1st Resistance Point 31.14
Last Price 31.12s
1st Support Level 31.09
2nd Support Level 31.07
3rd Support Level N/A

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52-Week High 36.56
Fibonacci 61.8% 34.03
Fibonacci 50% 33.26
Fibonacci 38.2% 32.48
Last Price 31.12s
52-Week Low 29.95

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