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Soybean Oil May '20 (ZLK20)

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Soybean Oil Futures Market News and Commentary

Beans Close in Red

Soybeans closed 6 3/4 to 10 3/4 cents lower in the red with double digit losses in new crop futures. Bean meal traded down by as much as $5/ton. Soy oil futures also closed in the red with losses of 7 to 8 points per lb. USDA estimates soybean production at 4.135 bbu, which was a smaller than expected increase. Shifting residual use from 4 mbu to a negative 46 mbu, 2019/20 carryout was up to 620 mbu. New crop ending stocks were also up by more than expected, with a 30 mbu bump to 425. Despite the larger ending stocks, USDA raised the new crop bean cash price 30 cents to $8.50/bu. World bean carryout was increased 480k MT to 99.7 MMT for old crop, but new crop was 1.26 MMT lower at 95.08. Brazilian old crop bean production was hiked to 126 MMT, larger than any of the published pre-report estimates. In the weekly CoT report, soybean spec traders were 99,243 contracts net long on July 7. That was the largest net long since May 29 of 2018. Managed money’s net short in soymeal was down 5... 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
$770/700
First Notice Date
04/30/20
Expiration Date
05/14/20 (expired)

Seasonal Chart

Soybean Oil May '20
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Jul 7, 2020

View Chart Details
Commercials - Long / Short
239,934 (+1,501)
274,972 (+18,571)
Non-Commercials - Long / Short
81,629 (+7,147)
54,441 (-9,869)
Producers - Long / Short
135,315 (-4,177)
258,989 (+18,160)
Swap Dealers - Long / Short
92,392 (+4,739)
3,756 (-528)
Managed Money - Long / Short
62,528 (+7,715)
43,420 (-10,610)
Other Reportables - Long / Short
19,101 (-568)
11,021 (+741)
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Price Performance

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Period Period Low Period High Performance
1-Month
24.64 +5.19%
on 04/27/20
26.90 -3.64%
on 04/15/20
-0.82 (-3.07%)
since 04/14/20
3-Month
24.64 +5.19%
on 04/27/20
31.13 -16.74%
on 02/18/20
-5.02 (-16.22%)
since 02/14/20
52-Week
24.64 +5.19%
on 04/27/20
35.94 -27.88%
on 01/02/20
-2.63 (-9.21%)
since 05/14/19

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Beans Close in Red

Soybeans closed 6 3/4 to 10 3/4 cents lower in the red with double digit losses in new crop futures. Bean meal traded down by as much as $5/ton. Soy oil futures also closed in the red with losses of 7...

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Wheat Mixed At Midday

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Bean Market Down at Midday

In the immediate response to the new supply and demand numbers, soybean futures are down by 3 1/2 to 4 1/4 cents. Soymeal futures are down by $2.10/ton. Soy oil futures are trading 3 points higher at midday....

WASDE REPORT FOR 7/10/2020

WASDE REPORT FOR 7/10/2020

Grains Report 07/10/2020

MORNING GRAINS COMMENTS Jack Scoville Friday, July 10, 2020 Price Futures Group, CBOT Chicago, IL (312) 264-4322 jscoville@pricegroup.com JSL, SA de [...]

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 40% Sell with a Weakening short term outlook on maintaining the current direction.

Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 25.92
1st Resistance Point 25.92
Last Price 25.92s
1st Support Level 25.92
2nd Support Level 25.92

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52-Week High 35.94
Fibonacci 61.8% 31.62
Fibonacci 50% 30.29
Fibonacci 38.2% 28.96
Last Price 25.92s
52-Week Low 24.64

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