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Soybean Oil Dec '18 (ZLZ18)

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Soybean Oil Futures Market News and Commentary

Soybean Market News and Commentary

Soybean futures ended Friday with the nearby contracts steady to 3/4 cents lower. Meal futures were down 30 cents/ton in the nearby contract, with soy oil 2 points higher. After the close, a tweet from Secretary Perdue indicated that China committed to purchase another 10 MMT of soybeans on Friday. Export sales of old crop soybeans in the weeks of Jan 10-Feb 14 were tallied at 6.532 MMT, with a weekly average of 1.089 MMT. That was on the lower end of estimates, but more than double the same six week total in 2018! China purchased a majority of the total at 3.923 MMT, with Egypt buying 602,500 MT. Export commitments for 18/19 have now improved to 17.5% below last year as of 2/14. The Fats & Oils report showing delayed December data indicated that 183.5 mbu of soybeans were crushed in that month. That was a monthly record crush number and 4.1% larger yr/yr. Total oil stocks were seen at 1.601 billion pounds. A preliminary USDA estimate for the 2019/20 soybean S&D table shows ending stocks at 845 mbu, which would be down from the current 910 mbu 18/19 projection.Mar 19 Soybeans closed at $9.10 1/4, down 3/4 cent,May 19 Soybeans closed at $9.23 3/4, down 1/2 cent,Jul 19 Soybeans closed at $9.37 1/4, down 1/4 cent,Sep 19 Soybeans closed at $9.46, unch,Mar 19 Soybean Meal closed at $305.60, down $0.30,Mar 19 Soybean Oil closed at $30.51, up $0.02--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. (Settles 1:15p.m.) (Sun-Fri) CST
Exchange
CBOT
Point Value
$600
Margin/Maintenance
$495/450
First Notice Date
11/30/18
Expiration Date
12/14/18 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Feb 5, 2019

View Chart Details
Commercials - Long / Short
210,443 (+1,648)
278,280 (+19,918)
Non-Commercials - Long / Short
128,519 (+9,119)
70,386 (-10,293)
Producers - Long / Short
91,471 (-3,608)
263,673 (+17,013)
Swap Dealers - Long / Short
106,784 (+2,406)
2,419 (+55)
Managed Money - Long / Short
79,748 (+10,596)
50,523 (-14,985)
Other Reportables - Long / Short
48,771 (-1,477)
19,863 (+4,692)
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Price Performance

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Period Period Low Period High Performance
1-Month
26.95 +5.34%
on 11/27/18
28.90 -1.76%
on 12/12/18
+0.82 (+2.97%)
since 11/14/18
3-Month
26.95 +5.34%
on 11/27/18
30.01 -5.40%
on 10/04/18
+0.63 (+2.27%)
since 09/14/18
52-Week
26.95 +5.34%
on 11/27/18
34.16 -16.89%
on 01/05/18
-4.97 (-14.90%)
since 12/14/17

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Barchart Technical Opinion

The Barchart Opinion rating is a Hold. Short term, the outlook is Falling.

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Key Turning Points

2nd Resistance Point 28.39
1st Resistance Point 28.39
Last Price 28.39s
1st Support Level 28.39
2nd Support Level 28.39

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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 28.39s
52-Week Low 26.95

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InsideFutures Commentary

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