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Soybean Oil Jul '24 (ZLN24)

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Soybean Oil Futures Market News and Commentary

Soybeans Fall as Products Pulled Lower

Soybeans slipped lower into the Thursday close, as contracts were down 2 to 7 cents on the day. Soymeal futures was front months with a dime to $1.50 lower trade and other contracts steady to $1.10. Soy Oil saw losses of 24 to 69 points as the trade closed out the session. 

Export Sales data showed 279,402 MT of soybeans booked in the week that ended on May 16, back up from the previous week and sneaking into the 275,000-550,000 MT range of estimates.  Japan was the buyer of 73,500 MT, with unknown destinations in for 70,700 MT. New crop sales were still weak at 65,500 MT, with 60,000 MT to unknown destinations. 

Soybean meal sales were below the estimates, with 23/24 bookings at 145,315 MT in that week and 51,437 MT for 24/25 sales. Soybean oil sales were at net reductions of 1,041 MT for 23/24 and 4,038 MT for 24/25 sales.

An update to the International Grains Council numbers on Thursday showed world bean production up 1 MMT to 414 MMT from the previous month. Co... 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
06/28/24 (35 days)
Expiration Date
07/12/24 (49 days)

Seasonal Chart

Soybean Oil Jul '24
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
288,450 (-4,616)
241,269 (-1,446)
Non-Commercials - Long / Short
109,303 (-4,394)
159,835 (-5,415)
Producers - Long / Short
144,461 (-2,731)
226,550 (-1,941)
Swap Dealers - Long / Short
131,932 (-2,935)
2,662 (-555)
Managed Money - Long / Short
65,468 (-4,603)
124,216 (-8,315)
Other Reportables - Long / Short
43,835 (+209)
35,619 (+2,900)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
42.53 +6.80%
on 05/09/24
46.72 -2.78%
on 05/22/24
+0.15 (+0.33%)
since 04/24/24
3-Month
42.53 +6.80%
on 05/09/24
50.29 -9.68%
on 03/18/24
+0.42 (+0.93%)
since 02/23/24
52-Week
42.53 +6.80%
on 05/09/24
63.54 -28.52%
on 07/24/23
-1.95 (-4.12%)
since 05/24/23

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Most Recent Stories

More News
Corn Hold Gains, Following Decent Export Sales Data

Corn futures held on tight for gains to close out the Thursday session. Contracts were up 1 to 3 cents across the board as the final bell rang. Friday will be the last trade session before a 3-day weekend,...

ZCN24 : 466-0 (+0.43%)
ZCPAUS.CM : 4.4123 (+0.77%)
ZCU24 : 475-2 (+0.42%)
ZCZ24 : 488-4 (+0.41%)
ZCPZ24US.CM : 4.5657 (+0.58%)
Soybeans Fall as Products Pulled Lower

Soybeans slipped lower into the Thursday close, as contracts were down 2 to 7 cents on the day. Soymeal futures was front months with a dime to $1.50 lower trade and other contracts steady to $1.10. Soy...

ZMN24 : 378.7 (+0.53%)
ZLN24 : 45.35 (+0.35%)
ZSN24 : 1241-6 (+0.20%)
ZSPAUS.CM : 11.7913 (-0.55%)
ZSQ24 : 1239-6 (+0.16%)
ZSX24 : 1217-2 (+0.10%)
ZSPX24US.CM : 11.5449 (-0.20%)
Wheat Closes Higher on Thursday

The wheat complex started off weaker on Thursday, but rounded out the day with strength. Chicago contracts were firm to 5 ¼ cents higher in the front months, with back 2025/2026 months down 2 to 6 cents....

ZWN24 : 703-2 (+0.75%)
ZWU24 : 723-4 (+0.77%)
KEN24 : 720-0 (+1.30%)
KEU24 : 733-4 (+1.24%)
MWN24 : 748-6 (+0.64%)
A Quiet Grain Trade Ahead of a Long Weekend.

Grains were mixed in today’s trade with corn and wheat higher while soybeans were lower. Where does that put us ahead of the long weekend

Shootin' the Bull about opposites

There won't be much to say were prices to move lower in fats, simply due to there not having been any premium to appreciate from.  Not so in the feeder market, where not only premium abounds, but options...

Wheat Trying to Hold Gains on Thursday

The wheat complex got off to a higher early start, as bulls are now fighting to stay above water. Chicago contracts are showing steady to 1 cent higher trade so far on the day. Kansas City futures are...

ZWN24 : 703-2 (+0.75%)
ZWU24 : 723-4 (+0.77%)
KEN24 : 720-0 (+1.30%)
KEU24 : 733-4 (+1.24%)
MWN24 : 748-6 (+0.64%)
Soybeans Pulling Back on Thursday

Soybeans are fading off the early Thursday gains, as contracts are steady to 4 cents lower across the board. Soymeal futures are mixed on the day with the front months 20 cents on either side of unch....

ZMN24 : 378.7 (+0.53%)
ZLN24 : 45.35 (+0.35%)
ZSN24 : 1241-6 (+0.20%)
ZSPAUS.CM : 11.7913 (-0.55%)
ZSQ24 : 1239-6 (+0.16%)
ZSX24 : 1217-2 (+0.10%)
ZSPX24US.CM : 11.5449 (-0.20%)
Corn Holding Higher at Midday

Corn futures are holding higher across most contracts on Thursday, with gains of 1 ¼ to 3 ¾ cent gains. June serial options expire against the July contract on Friday. USDA’s weekly Export Sales...

ZCN24 : 466-0 (+0.43%)
ZCPAUS.CM : 4.4123 (+0.77%)
ZCU24 : 475-2 (+0.42%)
ZCZ24 : 488-4 (+0.41%)
ZCPZ24US.CM : 4.5657 (+0.58%)
How to Make Sense of the Wheat Markets

The three wheat markets continue to raise a number of questions as we make our way toward the end of May.

ZWN24 : 703-2 (+0.75%)
IWY00 : 639.36s (+0.81%)
Corn Posting Thursday AM Gains

Corn prices are up 2 to 3 ¼ cents this Thursday morning. Futures ended the Wednesday session with contracts showing fractional to 3 ¼ cent gains. June serial options expire against the July contract...

ZCN24 : 466-0 (+0.43%)
ZCPAUS.CM : 4.4123 (+0.77%)
ZCU24 : 475-2 (+0.42%)
ZCZ24 : 488-4 (+0.41%)
ZCPZ24US.CM : 4.5657 (+0.58%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 47.45
2nd Resistance Point 46.96
1st Resistance Point 46.08
Last Price 45.35
1st Support Level 44.71
2nd Support Level 44.22
3rd Support Level 43.34

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52-Week High 63.54
Fibonacci 61.8% 55.51
Fibonacci 50% 53.03
Fibonacci 38.2% 50.56
Last Price 45.35
52-Week Low 42.53

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