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Soybean Oil Dec '19 (ZLZ19)

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Soybean Oil Futures Market News and Commentary

Soybeans Close Tuesday with Fractional Gains

Soybeans futures was up 3/4 to 1 1/2 cents in the front months at the close. The market was initially up a dime on rumors that China had issued tariff waivers for another 10 MMT of soybeans. This would allow private firms to buy US beans if the FOB prices are low enough in the US to be competitive with South America. Some were reported to be seeking offers on Tuesday. Soybean meal closed lower by 80 cents/ton, and soy oil finished 37 points higher. The National Soybean Price Index is at $8.67 1/2, a $1.07 3/4 jump over last year. Basis, according to cmdtyView was at -$0.67 1/2, 31 cents stronger than the same data in 2018. The USDA crop progress report showed soybean harvest progress at 46% after a week of better weather. The 5 year average pace is 64% done by now. The Dakotas are notably behind schedule. The last soybean crop condition ratings of the season were 54% gd/ex, with the Brugler500 index at 345, both unch from last week. ND most notably deteriorated another 12 points. Egypt... 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
$621/565
First Notice Date
11/29/19 (38 days)
Expiration Date
12/13/19 (52 days)

Seasonal Chart

Soybean Oil Dec '19
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Oct 15, 2019

View Chart Details
Commercials - Long / Short
215,537 (+2,037)
255,127 (-13,113)
Non-Commercials - Long / Short
110,377 (+11,290)
45,595 (-8,197)
Producers - Long / Short
83,213 (-576)
237,430 (-14,895)
Swap Dealers - Long / Short
119,870 (+824)
5,243 (-7)
Managed Money - Long / Short
79,517 (+7,766)
35,568 (-5,989)
Other Reportables - Long / Short
30,860 (+3,524)
10,027 (-2,208)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
28.75 +7.62%
on 09/27/19
31.00 -0.19%
on 10/23/19
+1.63 (+5.56%)
since 09/23/19
3-Month
27.88 +10.98%
on 08/07/19
31.00 -0.19%
on 10/23/19
+2.46 (+8.64%)
since 07/23/19
52-Week
26.96 +14.76%
on 05/13/19
32.06 -3.49%
on 02/08/19
+0.67 (+2.21%)
since 10/23/18

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Most Recent Stories

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Corn Closes Steady to Fractionally Higher

Corn futures were steady to fractionally higher by Tuesday’s close. The cmdtyView National Corn Price Index is at $3.69, up 43 3/4 cents from the same day last year. National basis was pegged at -19...

Soybeans Close Tuesday with Fractional Gains

Soybeans futures was up 3/4 to 1 1/2 cents in the front months at the close. The market was initially up a dime on rumors that China had issued tariff waivers for another 10 MMT of soybeans. This would...

Wheat Mixed at end of Tuesday’s Session

Winter wheat futures gave back overnight gains, with Chicago Dec finishing down by 5 1/2 and Kansas City Dec 4 1/4 cents lower. Spring wheat futures were higher, with MPLS Dec up by 1 1/4 cents on Turnaround...

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Lack of Demand Continues to Stall Rallies

Corn Fractionally Mixed on Tuesday

Corn futures are steady to fractionally mixed so far on Tuesday. The cmdtyView National Corn Price Index is at $3.69 1/4, up 44 cents from the same day last year. National basis was pegged at -19 cents,...

Winter Wheat Carries Monday’s Losses into Tuesday

Winter wheat futures gave back overnight gains, with Chicago Dec now down by 3 1/4 and Kansas City Dec 3 1/2 cents lower. Spring wheat futures are fractionally rallying as MPLS Dec is up by 1/2 cents on...

Soybeans Recover Monday’s Losses

Soybeans futures are 1 to 1 1/2 higher in the nearby contracts for Tuesday’s midday. The market was initially up a dime on rumors that China had issued tariff waivers for another 10 MMT of soybeans....

Grains Report 10/22/19

UPDATE 1-China offers tariff-free quota for 10 mln T of U.S. soybean purchases – sources – Reuters News 22-Oct-2019 07:55:32 AM To view [...]

Soybean Meal Prices Remain Strong

Remains strong...

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 96% Buy with a Strongest short term outlook on maintaining the current direction.

Longer term, the trend strength is Strong. Long term indicators fully support a continuation of the trend.

The market is in highly overbought territory. Beware of a trend reversal.

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Key Turning Points

2nd Resistance Point 31.34
1st Resistance Point 31.10
Last Price 30.94
1st Support Level 30.48
2nd Support Level 30.10

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52-Week High 32.06
Last Price 30.94
Fibonacci 61.8% 30.11
Fibonacci 50% 29.51
Fibonacci 38.2% 28.91
52-Week Low 26.96

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InsideFutures Commentary

InsideFutures is a twice weekly newsletter that features a selection of the latest and best commodities commentary appearing on Barchart.com. Delivered every Wednesday and Friday morning to your inbox.

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