Soybean Oil Dec '18 (ZLZ18)
Commitment of Traders Positions as of Aug 14, 2018View Chart
Price PerformanceSee More
|Period||Period Low||Period High||Performance|
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+0.36 (+1.26%)since 07/20/18
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-2.85 (-8.98%)since 05/18/18
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-5.27 (-15.42%)since 08/18/17
More Soybean Oil QuotesAll Futures
Agricharts Market Commentary
Soybean futures are trading 12 to 13 cents higher this morning. They had 4 to 5 cent losses on Friday after a late rally. Longs had 3.61% gains for the week. A little buying came late in the day on reports that the US and China were planning a roadmap to end the trade dispute by mid-November. That, of course, presumes that they will agree with each other’s proposals! Nearby US soy meal was down $4.50/ton, with soy oil up 8 points on Friday. Chinese meal futures sank 1.8% on Monday due to another African swine fever outbreak in Jiangsu. The large spec funds in soybean futures and options added another 2,641 contracts to their net short position as of 8/14. That took their net position to -58,924 contracts. Soybean export commitments are now lagging last year by 4.3%, slipping a little from last week. Compared to the USDA full year projection, they are 102% complete vs. the 104% normal pace. Actual exports are 94% of that number lagging average by 3%, with 4.718 MMT in unshipped sales remaining.
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