Your browser of choice has not been tested for use with Barchart.com. If you have issues, please download one of the browsers listed here.
or
Menu

Soybean Oil Dec '18 (ZLZ18)

[[ item.lastPrice ]] [[ item.priceChange ]] ([[ item.percentChange ]]) [[ item.tradeTime ]] [CBOT]
[[ item.bidPrice ]] x [[ item.bidSize ]] [[ item.askPrice ]] x [[ item.askSize ]]
Profile for [[ item.sessionDateDisplayLong ]]
Barchart Symbol ZL
Exchange Symbol ZL
Contract Soybean Oil
Exchange CBOT
Tick Size 0.01 points ($6.00 per contract)
Daily Limit 2.5 cents per pound ($1,500 per contract) Expanded limit 4.0 cents
Contract Size 60,000 pounds
Trading Months Jan, Mar, May, Jul, Aug, Sep, Oct, Dec (F, H, K, N, Q, U, V, Z)
Trading Hours 7:00p.m. - 7:45a.m. and 8:30a.m. - 1:20p.m. (Sun-Fri) CST
Value of One Futures Unit $600
Value of One Options Unit $600
Last Trading Day The business day prior to the 15th calendar day of the contract month

Description

Soybean oil is the natural oil extracted from whole soybeans. Typically, about 19% of a soybean's weight can be extracted as crude soybean oil. The oil content of U.S. soybeans correlates directly with the temperatures and amount of sunshine during the soybean pod-filling stages. Edible products produced with soybean oil include cooking and salad oils, shortening, and margarine. Soybean oil is the most widely used cooking oil in the U.S. It accounts for 80% of margarine production and for more than 75% of total U.S. consumer vegetable fat and oil consumption. Soy oil is cholesterol-free and high in polyunsaturated fat. Soy oil is also used to produce inedible products such as paints, varnish, resins, and plastics. Of the edible vegetable oils, soy oil is the world's largest at about 32%, followed by palm oil and rapeseed oil. Soybean oil futures and options are traded at the CME Group.

Prices - CME soybean oil futures prices (Barchart.com electronic symbol ZL) on the nearest-futures chart rose early in the year, peaked in August, and then drifted lower to finally close up +3.66% at 38.08 cents per pound. Regarding cash prices for the year 2017/18 (through December 2017), the average monthly price of crude domestic soybean oil (in tank cars) in Decatur (F.O.B.) rose by +0.4% yr/yr to 32.68 cents per pound.

Supply - World production of soybean oil in 2016/17 is expected to rise +4.5% yr/yr to a new record high of 54.202 million metric tons. China will account for 30.3% of world soybean oil production, while the U.S. will account for 18.2%, and Argentina for 15.2%. U.S. production of soybean oil in 2017/18 is expected to rise +1.8% yr/yr to 22.505 billion pounds.

Demand - World consumption of soybean oil in 2017/18 is expected to rise +4.1% yr/yr to a new record high of 56.008 million metric tons. China will account for 31.1% of world consumption, while the U.S. will account for 17.0%, Brazil for 12.0%, and India for 10.0%. U.S. consumption of soybean oil in 2017/18 is expected to rise +5.9% yr/yr to 21.00 billion pounds.

Trade - World exports of soybean oil in 2017/18 are expected to rise +3.3% yr/yr to 11.701 million metric tons. U.S. exports of soybean oil in 2017/18 are expected to fall -25.7% yr/yr to 1,900 billion pounds, well below 2009-10 record high of 3.359 billion pounds.

Information on commodities is courtesy of the CRB Yearbook, the single most comprehensive source of commodity and futures market information available. Its sources - reports from governments, private industries, and trade and industrial associations - are authoritative, and its historical scope for commodities information is second to none. The CRB Yearbook is part of the cmdty product line. Please visit cmdty for all of your commodity data needs.

More Soybean Oil Quotes

Add Data Columns to this Table
Learn about our Custom Views
Want to use this as
your default charts setting?
Learn about our Custom Templates
Switch the Market flag
above for targeted data.
Open the menu and switch the
Market flag for targeted data.
Get Streaming Chart Updates
Switch your Site Preferences
to Interactive Chart
Read About Upcoming
Changes to This Feature
Need More Chart Options?
Right-click on the chart to open the Interactive Chart menu.

Free Barchart Webinar