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Soybean Oil Dec '23 (ZLZ23)
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Soybean Oil Futures Market News and Commentary

Soybeans Fading through Midday

Beans are back in the red after some overnight buy action. Prices are currently 15 cents off their highs and 2 ¾ to 5 ½ cents in the red. Soymeal futures are also lower with losses of $2.10 to $2.30/ton so far. Soybean Oil futures are firm but off their highs, holding to gains of less than 20 points.  

The pre-report survey has 244 mbu of soybean stocks expected for Sep 1. If realized that would be 6 mbu tighter than the WASDE projection. Traders estimate between 216 mbu and 270 mbu will be in the quarterly NASS report. 

Brazil’s Ag Rural reported soy planting at 1.9% finished as of 9/21. That compares to 1.5% at the same time last year. 

The weekly Crop Progress update from NASS showed 73% of soybeans were dropping leaves, up from 54% last week and 11% points ahead of average. National harvest advanced 7% points through the week to 12% finished as of 9/24. That remains 1 ppt ahead of average. Condition ratings saw 2% points shift from good to fair for a 2 point dr... 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
$3,025/2,750
First Notice Date
11/30/23 (65 days)
Expiration Date
12/14/23 (79 days)

Seasonal Chart

Soybean Oil Dec '23
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Sep 19, 2023

View Chart Details
Commercials - Long / Short
219,404 (-20,701)
283,815 (-12,628)
Non-Commercials - Long / Short
101,187 (+4,160)
46,627 (-4,398)
Producers - Long / Short
103,897 (-20,572)
269,352 (-10,684)
Swap Dealers - Long / Short
104,312 (+816)
3,268 (-999)
Managed Money - Long / Short
74,716 (-240)
27,162 (-5,293)
Other Reportables - Long / Short
26,471 (+4,400)
19,465 (+895)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
56.62 +1.93%
on 09/26/23
64.27 -10.21%
on 08/28/23
-5.65 (-8.92%)
since 08/25/23
3-Month
54.65 +5.60%
on 06/27/23
65.58 -12.00%
on 07/24/23
+1.53 (+2.72%)
since 06/26/23
52-Week
44.47 +29.77%
on 05/31/23
66.44 -13.14%
on 11/04/22
+1.31 (+2.32%)
since 09/26/22

More Soybean Oil Quotes

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Most Recent Stories

More News
Corn Trading Red at Midday

Front month corn prices are working 2 ½ to 4 cents weaker through Tuesday’s midday. That has Dec back to UNCH for the week following the strength on Monday. Ahead of the Quarterly Grain Stocks report...

ZCZ23 : 479-6s (-0.31%)
ZCPAUS.CM : 4.5099 (-0.46%)
ZCH24 : 494-4s (-0.25%)
ZCK24 : 502-6s (-0.30%)
Soybeans Fading through Midday

Beans are back in the red after some overnight buy action. Prices are currently 15 cents off their highs and 2 ¾ to 5 ½ cents in the red. Soymeal futures are also lower with losses of $2.10 to $2.30/ton...

ZMZ23 : 392.7s (+0.74%)
ZLZ23 : 57.71s (+0.40%)
ZSX23 : 1302-6s (+0.39%)
ZSPAUS.CM : 12.3802 (+0.41%)
ZSF24 : 1321-0s (+0.42%)
ZSH24 : 1332-6s (+0.43%)
Mixed Wheat Market at Midday

The front month wheat futures are trading on both sides of UNCH at midday. Both the Chicago SRW and MGE HRS futures are fractionally mixed, while KC is trading 3 to 3 ½ cents in the red through Tuesday....

ZWZ23 : 589-0s (unch)
ZWH24 : 616-2s (unch)
ZWPAES.CM : 5.0184 (unch)
KEZ23 : 710-4s (-0.56%)
KEPAWS.CM : 6.3888 (-0.61%)
MWZ23 : 766-4s (-0.33%)
What Does McDonald's Tell Us About the Economy?

Can we get a read on the economy based on the Big Mac? Oddly enough, there is more than one theory that tells us that is indeed the case.

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LEV23 : 184.800s (-1.16%)
MCD : 267.72 (-0.76%)
Should You Buy the 10% Correction in This Dow Stock?

McDonald's has a lot of positive catalysts ahead of it, making the latest dip a golden opportunity to buy the shares.

MCD : 267.72 (-0.76%)
Soybean Futures Defend MAJOR Support. Is it Time to Buy?

Soybeans test and defend major 4-star support in yesterday's trade, taking prices back to our pivot pocket from 1300-1304. These are the next upside targets to keep an eye on

Corn Gives Back Overnight Gains

Corn is back to UNCH to 1 ¾ cents lower in early Tuesday futures trading after giving back overnight gains. The back and forth Tuesday session so far has seen a nickel trading range. Front month corn...

ZCZ23 : 479-6s (-0.31%)
ZCPAUS.CM : 4.5099 (-0.46%)
ZCH24 : 494-4s (-0.25%)
ZCK24 : 502-6s (-0.30%)
Beans Get Back to $13 in Overnight Trade

Soybeans are a nickel off their overnight highs this morning, but the 4 cent gain has Nov back to the $13 mark. Soybean futures settled 1 ½ to 3 ¾ cents higher on Monday, but well off of their lows....

ZMZ23 : 392.7s (+0.74%)
ZLZ23 : 57.71s (+0.40%)
ZSX23 : 1302-6s (+0.39%)
ZSPAUS.CM : 12.3802 (+0.41%)
ZSF24 : 1321-0s (+0.42%)
ZSH24 : 1332-6s (+0.43%)
Tuesday Wheat Market Trading Higher

Wheat is currently 2 to 4 cents higher in the CBT market this morning, though Dec is off the overnight high by a nickel. KC wheat is starting Tuesday mixed. Chicago wheat prices ended the session near...

ZWZ23 : 589-0s (unch)
ZWH24 : 616-2s (unch)
ZWPAES.CM : 5.0184 (unch)
KEZ23 : 710-4s (-0.56%)
KEPAWS.CM : 6.3888 (-0.61%)
MWZ23 : 766-4s (-0.33%)
Corn Closed Monday Higher

Front month corn futures ended the session with 2 ½ to 4 cent gains. The Dec contract ended just 1 ¼ cents off the high after nearly a 10 cent range for the day. The weekly NASS Crop Progress report...

ZCZ23 : 479-6s (-0.31%)
ZCPAUS.CM : 4.5099 (-0.46%)
ZCH24 : 494-4s (-0.25%)
ZCK24 : 502-6s (-0.30%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point 59.61
2nd Resistance Point 58.80
1st Resistance Point 58.25
Last Price 57.71s
1st Support Level 56.89
2nd Support Level 56.08
3rd Support Level 55.53

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52-Week High 66.44
Fibonacci 61.8% 58.05
Last Price 57.71s
Fibonacci 50% 55.46
Fibonacci 38.2% 52.86
52-Week Low 44.47

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