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Soybean Oil Dec '18 (ZLZ18)

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Soybean Oil Futures Market News and Commentary


Soybean futures are currently 2 to 2 1/2 cents higher than on Monday. They ended Monday with 5 to 7 cents losses. The weekly Export Inspections report indicated that 922,094 MT were exported in the week that ended on December 6. That was down 11.84% from the prior week and 25.83% lower than last year. Spec funds in soybean futures and options slashed their CFTC net short position by 46,269 contracts on 12/4 to a net position of -17,593 contracts. The average trade guess for USDA soybean ending stocks is 945 million bushels, with most assuming USDA has no evidence of Chinese purchases to justify a change in exports. Brazil’s ABIOVE estimated the country’s 18/19 soybean crop at 120.9 MMT, 1.4 larger than the previous number. --provided by Brugler Marketing & Management

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. (Sun-Fri) CST
Exchange
CBOT
Point Value
$600
Margin/Maintenance
$550/500
First Notice Date
11/30/18
Expiration Date
12/14/18 (3 days)

Seasonal Chart

Soybean Oil Dec '18
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Nov 27, 2018

View Chart Details
Commercials - Long / Short
263,982 (+1,994)
227,064 (-9,506)
Non-Commercials - Long / Short
96,765 (-12,454)
140,946 (-182)
Producers - Long / Short
161,705 (+11,932)
208,657 (-6,830)
Swap Dealers - Long / Short
87,759 (-7,523)
3,889 (-261)
Managed Money - Long / Short
50,753 (-209)
131,317 (+1,108)
Other Reportables - Long / Short
46,012 (-12,245)
9,629 (-1,290)
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Price Performance

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Period Period Low Period High Performance
1-Month
26.95 +6.31%
on 11/27/18
28.71 -0.21%
on 12/05/18
+1.03 (+3.73%)
since 11/09/18
3-Month
26.95 +6.31%
on 11/27/18
30.01 -4.53%
on 10/04/18
+0.57 (+2.03%)
since 09/11/18
52-Week
26.95 +6.31%
on 11/27/18
34.16 -16.13%
on 01/05/18
-4.94 (-14.71%)
since 12/11/17

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Most Recent Stories

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WASDE REPORT FOR 12/11/18

WASDE REPORT FOR 12/11/18

Reaction

Overreaction

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Corn futures are trading fractionally higher ahead of this morning’s monthly USDA supply/demand update. They closed Monday steady to 1 1/2 cents lower, with Dec up 1/4 cent ahead of Friday’s...

Soybeans Market Commentary

Soybean futures are currently 2 to 2 1/2 cents higher than on Monday. They ended Monday with 5 to 7 cents losses. The weekly Export Inspections report indicated that 922,094 MT were exported in the week...

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Soybeans Market Commentary

Soybean futures settled the day with 5 to 7 cents losses, ahead of Tuesday’s WASDE report. Nearby soy meal was down $1.20/ton, with soy oil 2 points higher. A private export sale of 125,000 MT of...

Wheat Market Commentary

Wheat futures saw 4 to 6 1/4 cent losses in most CBT and MPLS contracts, with KC fractionally to 1 3/4 cents lower. USDA’s weekly Export Inspections report showed that exporters shipped 418,460 MT...

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 32% Buy with a Strengthening short term outlook on maintaining the current direction.

Longer term, the trend strength is Weak.

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

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Key Turning Points

2nd Resistance Point 28.65
1st Resistance Point 28.58
Last Price 28.65
1st Support Level 28.46
2nd Support Level 28.41

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52-Week High 34.16
Fibonacci 61.8% 31.41
Fibonacci 50% 30.56
Fibonacci 38.2% 29.70
Last Price 28.65
52-Week Low 26.95

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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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