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Soybean Oil Jul '23 (ZLN23)
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Soybean Oil Futures Market News and Commentary

Mixed Day in Bean Market

The soybean futures are working both directions within 5 cents of UNCH so far. The nearby contracts are fractionally to 1 ¼ cents in the black, while the deferred months are 4 ¼ cents weaker. Soymeal futures are bouncing through Wednesday, with a $4 recovery in October. Dec meal is up by 70 cents/ton. Soybean Oil futures are working with 56 to 62 point gains through midday. 

Refinitiv estimated Malaysian palm oil output at 18.4 MMT for 22/23, with 50.7 MMT for Indonesia. The initial 23/24 outlook will be released in their next update. 

Strategie Grains increased their Europe rapeseed production forecast by 600k MT to 19.5 MMT. 

 

Nov 23 Soybeans  are at $12.74, up 1 1/4 cents,

Nearby Cash   is at $12.10 3/4, up 1 3/4 cents,

Jan 24 Soybeans  are at $12.93 1/4, up 1 1/4 cents,

Mar 24 Soybeans  are at $13.08 1/4, up 3/4 cent,

On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securi... 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
$3,025/2,750
First Notice Date
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 26, 2023

View Chart Details
Commercials - Long / Short
211,377 (-8,027)
264,640 (-19,175)
Non-Commercials - Long / Short
98,292 (-2,895)
50,287 (+3,660)
Producers - Long / Short
96,616 (-7,281)
248,516 (-20,836)
Swap Dealers - Long / Short
103,704 (-608)
5,067 (+1,799)
Managed Money - Long / Short
66,279 (-8,437)
29,448 (+2,286)
Other Reportables - Long / Short
32,013 (+5,542)
20,839 (+1,374)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
53.13 +27.78%
on 06/22/23
70.00 -3.01%
on 07/13/23
+11.93 (+21.32%)
since 06/14/23
3-Month
44.53 +52.46%
on 05/31/23
70.00 -3.01%
on 07/13/23
+14.12 (+26.26%)
since 04/14/23
52-Week
44.53 +52.46%
on 05/31/23
70.00 -3.01%
on 07/13/23
+13.03 (+23.75%)
since 07/14/22

More Soybean Oil Quotes

All Futures Prices
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Most Recent Stories

More News
Mixed Day in Bean Market

The soybean futures are working both directions within 5 cents of UNCH so far. The nearby contracts are fractionally to 1 ¼ cents in the black, while the deferred months are 4 ¼ cents weaker. Soymeal...

ZMZ23 : 372.0s (+0.08%)
ZLZ23 : 55.99s (-2.00%)
ZSX23 : 1273-0s (unch)
ZSPAUS.CM : 12.0842 (+0.04%)
ZSF24 : 1292-2s (unch)
ZSH24 : 1307-2s (unch)
Wheat Back to Sliding Lower So Far

The wheat market is currently back in the red after a bounce on Tuesday. CBT SRW futures are 5 to 6 ¼ cents in the red. KC HRW is trading down by as much as 1.6% through midday. MGE HRS futures are down...

ZWZ23 : 560-0s (-1.50%)
ZWH24 : 589-0s (-1.46%)
ZWPAES.CM : 4.7606 (-1.75%)
KEZ23 : 666-4s (-2.45%)
KEPAWS.CM : 6.0402 (-2.63%)
MWZ23 : 711-6s (-1.90%)
Midweek Corn Trading Both Sides

The corn futures are fractionally mixed through the Wednesday’s midday. The Dec contract has seen a 7 ¼ cent range so far. Weekly EIA data showed ethanol producers averaged 1.009m barrels per day through...

ZCZ23 : 486-0s (-0.31%)
ZCPAUS.CM : 4.5175 (-0.26%)
ZCH24 : 501-0s (-0.25%)
ZCK24 : 509-4s (-0.20%)
Sugar corrects with Crude Oil back to a Neutral Trend.

Sugar corrects with Crude Oil back to a Neutral Trend.These are the levels we are watching to determine the next trend

AM Drop in Corn Market

Front month corn prices are down ¾ to 1 ½ cents into the day trade, after falling from 2c gains overnight. Corn futures ended the Tuesday session with 1 ¼ to 2 ¾ cent losses. Dec is still at a 10c...

ZCZ23 : 486-0s (-0.31%)
ZCPAUS.CM : 4.5175 (-0.26%)
ZCH24 : 501-0s (-0.25%)
ZCK24 : 509-4s (-0.20%)
Beans Bouncing Back on Wednesday

Front month soy futures are trading with 1 ¾ to 7 cent gains in the beans, and a $4 recovery in meal this morning. Soybean futures fell by 0.3% to 0.4% on Tuesday. November was down a net 2 ¼ cents after...

ZMZ23 : 372.0s (+0.08%)
ZLZ23 : 55.99s (-2.00%)
ZSX23 : 1273-0s (unch)
ZSPAUS.CM : 12.0842 (+0.04%)
ZSF24 : 1292-2s (unch)
ZSH24 : 1307-2s (unch)
Shootin' the Bull about from shifting to avalanche

It started as a shift, and is now believed an avalanche.  Consumer demand is drying up.  Packers are going to continue to keep slaughter rates at levels beneficial to them.  This leaves the cattle feeder,...

Tuesday Losses in Soy Futures

Soybean futures fell by 0.3% to 0.4% on Tuesday. That has Nov set at as 2 ¼ cent loss for the week’s move. Soymeal futures ended with $1.70 to $4.40 losses, leaving the October contract at the lowest...

ZMZ23 : 372.0s (+0.08%)
ZLZ23 : 55.99s (-2.00%)
ZSX23 : 1273-0s (unch)
ZSPAUS.CM : 12.0842 (+0.04%)
ZSF24 : 1292-2s (unch)
ZSH24 : 1307-2s (unch)
Wheat Futures Closed with Tuesday Gains

Chicago futures ended the session with ¾ to 3 ¾ cent gains on Tuesday. KC HRW futures closed the day 5 to 6 ½ cent gains. MGE futures closed up by 2 ½ to 6 ¾ cents. USDA reported a large private...

ZWZ23 : 560-0s (-1.50%)
ZWH24 : 589-0s (-1.46%)
ZWPAES.CM : 4.7606 (-1.75%)
KEZ23 : 666-4s (-2.45%)
KEPAWS.CM : 6.0402 (-2.63%)
MWZ23 : 711-6s (-1.90%)
Corn Futures Close Lower on Tuesday

Corn futures ended the Tuesday session with 1 ¼ to 2 ¾ cent losses. Dec is still at a 10c gain for the week. Safras and Mercado estimated Brazil’s first crop at 26.86 MMT, down from their prior 26.9...

ZCZ23 : 486-0s (-0.31%)
ZCPAUS.CM : 4.5175 (-0.26%)
ZCH24 : 501-0s (-0.25%)
ZCK24 : 509-4s (-0.20%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 67.89
2nd Resistance Point 67.89
1st Resistance Point 67.89
Last Price 67.89s
1st Support Level 67.89
2nd Support Level 67.89
3rd Support Level 67.89

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52-Week High 70.00
Last Price 67.89s
Fibonacci 61.8% 60.27
Fibonacci 50% 57.26
Fibonacci 38.2% 54.26
52-Week Low 44.53

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