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Soybean Oil May '21 (ZLK21)

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Soybean Oil Futures Market News and Commentary

Soy Market Higher on Wednesday

At the close for the Wednesday session the soy complex was higher, led by BO. Soy oil futures were up triple digits for 1.91% to 2.28% gains. Soymeal futures closed $3.20 to $3 higher, with gains of as much as 0.8%. Beans were up double digits on Wednesday, led by old crop. Old crop soybeans closed 1.04% to 1.48% in the black, whereas new crop futures were up 0.94% to 1.02%.

 

Ahead of the weekly Export Sales report, traders are looking for soybean bookings to come in between net reductions of 100,000 MT to net purchases of 200k MT. New crop bookings are anticipated to be below 500k MT.

Ahead of Thursday’s NOPA crush report, analysts surveyed expect between 165 mbu and 189.6 mbu of soybeans were processed in March. The average of estimates is to see a 179.2 mbu crush, which would be down from 181.37 mbu crushed in March 2020 for just the second yr/yr decline for the season. The average estimate for BO stocks is 1.822b lbs.

May 21 Soybeans  cl... 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
$1,870/1,700
First Notice Date
04/30/21 (15 days)
Expiration Date
05/14/21 (29 days)

Seasonal Chart

Soybean Oil May '21
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of Apr 6, 2021

View Chart Details
Commercials - Long / Short
233,926 (+4,476)
346,850 (+2,911)
Non-Commercials - Long / Short
136,684 (-10,943)
41,981 (-5,255)
Producers - Long / Short
110,343 (+1,419)
321,547 (+2,506)
Swap Dealers - Long / Short
106,535 (+2,216)
8,255 (-436)
Managed Money - Long / Short
100,505 (-6,795)
25,699 (-2,194)
Other Reportables - Long / Short
36,179 (-4,148)
16,282 (-3,061)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
50.22 +8.64%
on 03/31/21
58.25 -6.33%
on 03/23/21
-0.53 (-0.96%)
since 03/15/21
3-Month
40.53 +34.62%
on 01/20/21
58.25 -6.33%
on 03/23/21
+13.07 (+31.50%)
since 01/15/21
52-Week
26.60 +105.11%
on 04/27/20
58.25 -6.33%
on 03/23/21
+26.22 (+92.52%)
since 04/15/20

More Soybean Oil Quotes

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Most Recent Stories

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Corn to Soybeans: "Hold my Beer"

While soybean basis has been the star of the show, corn basis continues to strength as well. Much of the demand for tightening supplies of US corn has come from domestic feed. Basis bids across the US...

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Soy Market Higher on Wednesday

At the close for the Wednesday session the soy complex was higher, led by BO. Soy oil futures were up triple digits for 1.91% to 2.28% gains. Soymeal futures closed $3.20 to $3 higher, with gains of as...

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ZSPX21US.CM : 12.1413 (+1.06%)
Corn Closes Near Highs

After midweek trading, corn futures settled near the highs with 6 1/2 to 14 cent gains. Old crop prices were up double digits with 2.29% to 2.41% gains. New crop prices closed the session 1.26% to 1.98%...

ZCPAUS.CM : 5.8363 (+2.51%)
ZCZ21 : 516-0 (+0.93%)
ZCPZ21US.CM : 4.8380 (+1.48%)
Double Digit Gains for Wednesday Wheat

Wheat futures traded mostly sideways to lower after the early session gains, but still closed with double digit gains. CBT SRW futures ended the session 2.64% to 2.9% in the black. KC HRW closed with 2.71%...

ZWPAES.CM : 6.2042 (+3.02%)
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"Shootin' the Bull"

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Corn Futures are Higher for Midweek

Corn is extending the gains from the Tuesday session today. Old crop prices are another 10 1/4 to 11 1/4 cents higher. New crop corn prices are 3 1/2 to 4 cents in the black so far. Ahead of the weekly...

ZCPAUS.CM : 5.8363 (+2.51%)
ZCZ21 : 516-0 (+0.93%)
ZCPZ21US.CM : 4.8380 (+1.48%)
Double Digit Gains for Beans

Front month soy futures are in the black at midday. Beans are up double digits with gains of 9 1/2 to 18 3/4 cents. Old crop futures are slightly stronger than new crop. Soymeal futures are up $1.60 to...

ZSPAUS.CM : 13.8869 (+1.56%)
ZSX21 : 1267-6 (+0.30%)
ZSPX21US.CM : 12.1413 (+1.06%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 56.47
2nd Resistance Point 55.53
1st Resistance Point 54.88
Last Price 54.53
1st Support Level 53.29
2nd Support Level 52.35
3rd Support Level 51.70

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52-Week High 58.25
Last Price 54.53
Fibonacci 61.8% 46.16
Fibonacci 50% 42.42
Fibonacci 38.2% 38.69
52-Week Low 26.60

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