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Soybean Oil Aug '23 (ZLQ23)

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Soybean Oil Futures Market News and Commentary

Soybeans Head into the Weekend with Losses

Soybeans couldn’t manage to hold the early morning strength on Friday, with futures closing 1 ¾ to 5 cents lower across the board. November closed out the week with just a 1 ¼ cent gain. Pressure came from the product values on Friday. Front month Soymeal futures were down 30 cents to $1.10/ton, with back months steady to $1.20 higher. Soy Oil futures were down 63 to 84 points on the day. 

USDA reported a private export sale of 100,000 MT of soybeans for 2024/25 shipment to China vis their daily system this morning. 

NOPA crush data will be released on Monday, with the trade expecting to see August crush at 171.325 million bushels.

The weekly Commitment of Traders report indicated a total of 23,495 contracts were covered of the large managed money net short position. That was at 130,601 contracts as of 9/10, the lowest since late June. Commercials were trimming their net long position by 17,221 contracts at 44,811 contracts by Tuesday. 

Thursday’s Export Sale... 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
07/31/23
Expiration Date
08/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Sep 10, 2024

View Chart Details
Commercials - Long / Short
277,927 (-6,018)
274,405 (-2,628)
Non-Commercials - Long / Short
137,649 (+4,053)
142,518 (+617)
Producers - Long / Short
134,338 (-3,158)
261,906 (-2,554)
Swap Dealers - Long / Short
133,771 (-3,166)
2,681 (-380)
Managed Money - Long / Short
68,013 (+3,525)
114,555 (+3,753)
Other Reportables - Long / Short
69,636 (+528)
27,963 (-3,136)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
63.55 +4.36%
on 07/18/23
72.81 -8.91%
on 07/24/23
+1.27 (+1.95%)
since 07/14/23
3-Month
44.68 +48.43%
on 05/31/23
72.81 -8.91%
on 07/24/23
+16.97 (+34.39%)
since 05/12/23
52-Week
44.68 +48.43%
on 05/31/23
72.81 -8.91%
on 07/24/23
+1.86 (+2.89%)
since 08/12/22

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Soybeans Head into the Weekend with Losses

Soybeans couldn’t manage to hold the early morning strength on Friday, with futures closing 1 ¾ to 5 cents lower across the board. November closed out the week with just a 1 ¼ cent gain. Pressure came...

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Wheat Rallies Double Digits to Close Out Week

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Grain Spreads: Numbers Game in Beans

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Shootin' the Bull about a lull in the cash markets

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Soybeans Fading Early Friday Gains, with Weaker Midday

Soybeans are showing losses of 6 to 8 cents in the nearby contracts on Friday, falling from early strength to kick off the session. Pressure is coming from the product values. Soymeal futures are down...

ZMZ24 : 322.9s (-0.09%)
ZLZ24 : 38.93s (-2.16%)
ZSX24 : 1006-2s (-0.45%)
ZSPAUS.CM : 9.4412 (-0.48%)
ZSF25 : 1024-6s (-0.46%)
ZSX24 : 1006-2s (-0.45%)
ZSPX24US.CM : 9.4617 (-0.45%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 68.03
2nd Resistance Point 67.17
1st Resistance Point 66.75
Last Price 66.32s
1st Support Level 65.47
2nd Support Level 64.61
3rd Support Level 64.19

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52-Week High 72.81
Last Price 66.32s
Fibonacci 61.8% 62.06
Fibonacci 50% 58.74
Fibonacci 38.2% 55.43
52-Week Low 44.68

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