DEC-JAN SOYBEAN OIL SPREAD (ZLZ26-ZLF27) - WALSH PURE SPREADER

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RICH MORAN                                                                                                                        8/18/2026

DEC-JAN SOYBEAN OIL SPREAD (ZLZ26-ZLF27)

I am still a big fan of the Soybean Oil market, and as a result, I am a big fan of the Soybean Oil Spreads.  Nothing is always in commodity futures, but in general, these spreads are directional.  What I mean by that is the front month will likely lead the way.  So, if Soybean Oil rallies, Soybean Oil Spreads will commonly go up as well.

I believe the Soybean Oilshare can continue to rise.  I also think that mandates and incentives to use renewable energy may strengthen the price of Soybean Oil.

My favorite month in the Soybean Oil market is December (ZLZ26).  September (ZLU26) and October (ZLV26) are still on the board, but I consider ZLZ26 the front month as it carries the highest volume in the Soybean Oil market.

I have already suggested buying the DEC-MAR spread (ZLZ26-ZLH27) and the DEC-JUL spread (ZLZ26-ZLN27).  I am now suggesting we buy the DEC-JAN Spread (ZLZ26-ZLF27) as well.  This way we will be long DEC (ZLZ26) versus JAN (ZLF27), MAR ZLH27 and JUL (ZLN27).  So, we will be long DEC (ZLZ26) against an average of the other three in case any of the other three under or over perform.

I suggest that when the market opens this evening, try to buy the DEC-JAN Soybean Oil Spread (ZLZ26-ZLF27) at +0.07 (today’s settlement) or better.  If you are not able to buy it at +0.07 on the opening, leave a resting (GTC) order in to buy it at that level.  If it gets away and you are unable to buy it, hopefully you are already long the other two spreads.

If you are able to buy this spread, risk 50 ticks or $300 to make 125 ticks or $750 Per Spread, plus fees and commissions.

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Rich Moran

Senior Commodities Broker

RMoran@walshtrading.com

Direct: (312)985-0298 

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