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Soybean Oil Dec '19 (ZLZ19)

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Soybean Oil Futures Market News and Commentary

Beans Close in Red

Soybeans closed 6 3/4 to 10 3/4 cents lower in the red with double digit losses in new crop futures. Bean meal traded down by as much as $5/ton. Soy oil futures also closed in the red with losses of 7 to 8 points per lb. USDA estimates soybean production at 4.135 bbu, which was a smaller than expected increase. Shifting residual use from 4 mbu to a negative 46 mbu, 2019/20 carryout was up to 620 mbu. New crop ending stocks were also up by more than expected, with a 30 mbu bump to 425. Despite the larger ending stocks, USDA raised the new crop bean cash price 30 cents to $8.50/bu. World bean carryout was increased 480k MT to 99.7 MMT for old crop, but new crop was 1.26 MMT lower at 95.08. Brazilian old crop bean production was hiked to 126 MMT, larger than any of the published pre-report estimates. In the weekly CoT report, soybean spec traders were 99,243 contracts net long on July 7. That was the largest net long since May 29 of 2018. Managed money’s net short in soymeal was down 5... 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
$770/700
First Notice Date
11/29/19
Expiration Date
12/13/19 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jul 7, 2020

View Chart Details
Commercials - Long / Short
239,934 (+1,501)
274,972 (+18,571)
Non-Commercials - Long / Short
81,629 (+7,147)
54,441 (-9,869)
Producers - Long / Short
135,315 (-4,177)
258,989 (+18,160)
Swap Dealers - Long / Short
92,392 (+4,739)
3,756 (-528)
Managed Money - Long / Short
62,528 (+7,715)
43,420 (-10,610)
Other Reportables - Long / Short
19,101 (-568)
11,021 (+741)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
29.94 +7.78%
on 12/03/19
32.27 unch
on 12/13/19
+1.74 (+5.70%)
since 11/13/19
3-Month
28.75 +12.24%
on 09/27/19
32.27 unch
on 12/13/19
+2.84 (+9.65%)
since 09/13/19
52-Week
26.96 +19.70%
on 05/13/19
32.27 unch
on 12/13/19
+2.18 (+7.24%)
since 12/13/18

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Most Recent Stories

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Wheat Closed Mixed

Wheat traded in both directions on Friday. KC HRW futures closed with 3 to 4 3/4 cent losses. HRS wheat was fractionally mixed to 1 1/4 cents lower. SRW wheat was higher on the day, with 8 to 9 1/2 cent...

Beans Close in Red

Soybeans closed 6 3/4 to 10 3/4 cents lower in the red with double digit losses in new crop futures. Bean meal traded down by as much as $5/ton. Soy oil futures also closed in the red with losses of 7...

Double Digit Losses for Corn

Corn traders sold the fact and took profits ahead of the weekend. Futures closed the Friday session 10 to 12 1/4 cents deep in the red. From the mandatory reporting system, USDA announced a huge 1.365...

Livestock Report

Cattle markets creep higher while Hogs sag

Corn Down After Reports

Corn has gone into fast market conditions, down 4 1/2 to 10 cents or more in response to the USDA updates. USDA announced a huge 1.365 MMT corn sale to China this morning. Delivery for the private sale...

Wheat Mixed At Midday

Wheat is mixed after Chinese buying alongside of the USDA report. SRW futures are up double digits with gains of as much as 16 3/4 cents in July. HRW futures are down by 2 to 5 1/2 cents. MPLS spring wheat...

Bean Market Down at Midday

In the immediate response to the new supply and demand numbers, soybean futures are down by 3 1/2 to 4 1/4 cents. Soymeal futures are down by $2.10/ton. Soy oil futures are trading 3 points higher at midday....

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 100% Buy and ranks in the Top 1% of all short term signal directions.

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 32.27
1st Resistance Point 32.27
Last Price 32.27s
1st Support Level 32.27
2nd Support Level 32.27

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52-Week High 32.27
Last Price 32.27s
Fibonacci 61.8% 30.24
Fibonacci 50% 29.61
Fibonacci 38.2% 28.99
52-Week Low 26.96

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