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Soybean Oil Mar '24 (ZLH24)
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Soybean Oil Futures Market News and Commentary

Beans Fade as Products Firm through Thursday

The front month soybean futures market was down by 1 ½ to 5 ¾ cents across the front months on the day. The May contract finished the session 92 cents weaker for the month of Feb. Nov futures were also 66 ½ cents lower on the month. The average Nov close for the month was $11.57 for crop insurance calculation. Soymeal futures were $0.40 to $2/ton stronger on the day, leading the May contract to a $34/ton loss on the month. Soy Oil futures closed the day 2 to 4 points higher on the day, but still a net 133 points weaker for the monthly move. 

Weekly Soybean bookings were shown at 159,725 MT. That was up from the MY low last week but was still at the bottom of estimates and was 62% below the same week last year. Total commitments are now 20% behind last season’s pace. The weekly Export Sales report showed 456k MT of soymeal was sold which was a 54% increase from the 4-wk average. BO bookings were 3k MT. 

Weekly soybean export sales are expected to be between 100k MT and 60... 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
$1,980/1,800
First Notice Date
02/29/24
Expiration Date
03/14/24 (14 days)

Seasonal Chart

Soybean Oil Mar '24
Average Price Chart for 5 Prior Mar Contracts

Commitment of Traders Positions as of Feb 20, 2024

View Chart Details
Commercials - Long / Short
271,182 (-4,586)
238,655 (-11,650)
Non-Commercials - Long / Short
107,910 (+2,208)
141,851 (+11,533)
Producers - Long / Short
139,333 (-4,374)
223,275 (-11,594)
Swap Dealers - Long / Short
120,794 (-28)
4,325 (+128)
Managed Money - Long / Short
60,794 (-4,695)
113,208 (+10,223)
Other Reportables - Long / Short
47,116 (+6,903)
28,643 (+1,310)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
43.57 +2.50%
on 02/23/24
48.45 -7.82%
on 02/09/24
-0.89 (-1.95%)
since 01/29/24
3-Month
43.57 +2.50%
on 02/23/24
53.10 -15.89%
on 11/30/23
-7.82 (-14.90%)
since 11/29/23
52-Week
43.57 +2.50%
on 02/23/24
64.53 -30.79%
on 07/24/23
-12.35 (-21.66%)
since 02/28/23

More Soybean Oil Quotes

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Most Recent Stories

More News
Wheat Rallies for Thursday Gains

After trading mixed through the midday portion, the afternoon wheat market rallied into the close. Chicago futures closed UNCH to 6 ½ cents higher. The May SRW contract was at a net 17 ¾ cent loss for...

ZWH24 : 577-4s (+1.14%)
ZWK24 : 576-2s (+0.26%)
KEH24 : 602-6s (+1.22%)
MWH24 : 664-4s (+1.96%)
Thursday Corn Futures Close Firmer

Feb ended with UNCH to 2 ½ cent gains across the front month corn futures. May prices were down by a net 29 cents for the month’s move. Dec corn finished 16 ¾ cents in the red for the month. The average...

ZCH24 : 415-6s (+0.60%)
ZCPAUS.CM : 3.9942 (+0.63%)
ZCK24 : 429-4s (+0.23%)
ZCN24 : 441-2s (+0.23%)
Shootin' the Bull about the agenda

The agenda is strengthening.  The methodical pace of slaughter is pulling box beef higher, as well as carcass weights.

Agricultural Prices

Agricultural Prices - 2024-02-29

ZSK24 : 1140-6s (-0.39%)
ZSPAUS.CM : 10.7698 (-0.75%)
ZSBAUS.CM : -0.5127 (-4.80%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,534s (+0.11%)
XTK24 : 4,508s (-0.38%)
ZCK24 : 429-4s (+0.23%)
ZCPAUS.CM : 3.9942 (+0.63%)
ZCBAUS.CM : -0.1632 (+0.06%)
XVK24 : 2,456s (-0.08%)
XEU24 : 59.21 (+0.14%)
Soybeans Leaping Lower on Leap Day

The front month soybean futures market is trading 2 to 8 ¼ cents weaker on Feb’s bonus day. That has the March contract set to round out the month with a net 96 ¾ cent loss and Nov doan by 67 cents...

ZMK24 : 329.2s (+0.52%)
ZLK24 : 45.21s (+0.04%)
ZSH24 : 1128-2s (-0.51%)
ZSPAUS.CM : 10.7698 (-0.75%)
ZSK24 : 1140-6s (-0.39%)
ZSN24 : 1151-2s (-0.39%)
Wheat Mixed at Midday

Wheat futures are sitting on both sides of UNCH for Feb’s bonus day. KC wheat prices are UNCH to 2 ¾ cents higher at midday, which has the March contract at a net monthly loss of 26 cents. Spring wheat...

ZWH24 : 577-4s (+1.14%)
ZWK24 : 576-2s (+0.26%)
KEH24 : 602-6s (+1.22%)
MWH24 : 664-4s (+1.96%)
Corn Fractionally Weaker on FND

The last trading day of February has futures rounding out the month mixed at midday. March futures are up by a penny on First Notice Day, though the other nearbys are fractionally to 2 cents lower. USDA...

ZCH24 : 415-6s (+0.60%)
ZCPAUS.CM : 3.9942 (+0.63%)
ZCK24 : 429-4s (+0.23%)
ZCN24 : 441-2s (+0.23%)
Soybeans Falling Double Digits

Soybean futures are down by as much as 16 cents for the Leap Day finish to the month. Wednesday’s back and forth session saw soybean futures in the black. Gains were 2 ¾ to 5 ¼ cents across the front...

ZMK24 : 329.2s (+0.52%)
ZLK24 : 45.21s (+0.04%)
ZSH24 : 1128-2s (-0.51%)
ZSPAUS.CM : 10.7698 (-0.75%)
ZSK24 : 1140-6s (-0.39%)
ZSN24 : 1151-2s (-0.39%)
Wheat Weakening on Feb’s Bonus Day

The wheat complex is starting 1 to 3 cents weaker so far for the last day of the month. Chicago futures were down by 6 ¼ to 15 cents on the day leaving the May contract at a net weekly 2 ½ cent loss....

ZWH24 : 577-4s (+1.14%)
ZWK24 : 576-2s (+0.26%)
KEH24 : 602-6s (+1.22%)
MWH24 : 664-4s (+1.96%)
Red AM for Corn Market

Corn is trading 2 to 4 cents weaker to begin Leap Day. The front month corn futures were near their highs for the close with a nickel gain for both the March and the May contracts on Wednesday. The new...

ZCH24 : 415-6s (+0.60%)
ZCPAUS.CM : 3.9942 (+0.63%)
ZCK24 : 429-4s (+0.23%)
ZCN24 : 441-2s (+0.23%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 45.67
2nd Resistance Point 45.29
1st Resistance Point 44.97
Last Price 44.66s
1st Support Level 44.27
2nd Support Level 43.89
3rd Support Level 43.57

See More

52-Week High 64.53
Fibonacci 61.8% 56.52
Fibonacci 50% 54.05
Fibonacci 38.2% 51.58
Last Price 44.66s
52-Week Low 43.57

See More

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