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Soybean Oil Jul '23 (ZLN23)

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Soybean Oil Futures Market News and Commentary

Soybeans Get Help from Products on Friday

Soybeans posted decent gains on Friday, with contracts up 8 to 12 cents across most months. Soymeal was up $7.10/ton in the August contract with July $16.50 higher. Soy Oil continued to climb, with contracts up 91 to 102 points on Friday. 

Delayed Export Sales data reported soybean sales at 228,379 MT during the week that ended on June 27. That was a 4-week low and on the bottom end of the 200,000 to 600,000 MT range of 23/24 estimates. China was the buyer of 66,500 MT, with the Netherlands purchasing 58,500 MT. New crop bookings were tallied at the second largest this marketing year of just 150,310 MT in that week. That edged out the top end of the estimated 50,000 and 150,000 MT range, with 120,000 MT sold to unknown destinations. 

Soy meal sales were in the middle of the 100,000 to 850,000 MT expectations at 501,518 MT. Sales for the current marketing year were 212,946 MT, with 288,572 MT for the next MY as 228,000 MT was previously reported to the Philippines. Soy oi... 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
06/30/23
Expiration Date
07/14/23 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Jun 25, 2024

View Chart Details
Commercials - Long / Short
321,287 (+12,430)
246,204 (-21,146)
Non-Commercials - Long / Short
119,940 (-7,097)
195,679 (+21,456)
Producers - Long / Short
176,897 (+17,354)
237,628 (-15,226)
Swap Dealers - Long / Short
137,385 (+760)
1,571 (-236)
Managed Money - Long / Short
57,071 (-3,537)
164,460 (+20,545)
Other Reportables - Long / Short
62,869 (-3,560)
31,219 (+911)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
53.13 +27.78%
on 06/22/23
70.00 -3.01%
on 07/13/23
+11.93 (+21.32%)
since 06/14/23
3-Month
44.53 +52.46%
on 05/31/23
70.00 -3.01%
on 07/13/23
+14.12 (+26.26%)
since 04/14/23
52-Week
44.53 +52.46%
on 05/31/23
70.00 -3.01%
on 07/13/23
+13.03 (+23.75%)
since 07/14/22

More Soybean Oil Quotes

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Most Recent Stories

More News
Soybeans Get Help from Products on Friday

Soybeans posted decent gains on Friday, with contracts up 8 to 12 cents across most months. Soymeal was up $7.10/ton in the August contract with July $16.50 higher. Soy Oil continued to climb, with contracts...

ZMZ24 : 332.5s (+1.00%)
ZLZ24 : 48.70s (+1.65%)
ZSN24 : 1188-4s (+1.02%)
ZSPAUS.CM : 11.2891 (+0.80%)
ZSQ24 : 1166-2s (+0.73%)
ZSX24 : 1129-6s (+0.74%)
ZSPX24US.CM : 10.6848 (+0.78%)
Corn Rallies into the Weekend

Corn futures gather some strength to round out the week on Friday’s lame duck session. Contracts were up 4 to 7 ¾ cents across the board. Rains over the next week are spottier according to the 7-day...

ZCN24 : 411-2s (+1.92%)
ZCPAUS.CM : 3.9725 (+1.31%)
ZCU24 : 410-4s (+1.23%)
ZCZ24 : 424-0s (+1.07%)
ZCPZ24US.CM : 3.9422 (+1.15%)
Wheat Rallies Double Digits with Export Assistance

The wheat market was in rally mode to close out the week, after USDA reported a solid round of export activity. Chicago futures were up 12 to 18 cents on the Friday session. Kansas City contracts were...

ZWN24 : 572-2s (+3.20%)
ZWU24 : 590-4s (+2.87%)
KEN24 : 595-2s (+2.36%)
KEU24 : 599-0s (+2.66%)
MWN24 : 621-0s (unch)
Pure Hedge - Livestock and Grain

Gamma Trader

Shootin' the Bull about mounting evidence of the agenda

In my opinion, a portion of the agenda is hitting a milestone this week with a story of a fully enclosed loop of beef/dairy cross cattle production.

Wheat Rallying Following Export Sales Report

The wheat market is putting on a strong showing following a solid round of export activity. Chicago futures are up 15 to 19 cents so far on the Friday session. Kansas City contracts are up 12 to 15 cents...

ZWN24 : 572-2s (+3.20%)
ZWU24 : 590-4s (+2.87%)
KEN24 : 595-2s (+2.36%)
KEU24 : 599-0s (+2.66%)
MWN24 : 621-0s (unch)
Soybeans Heading Higher with Products Supportive

Soybeans are trading with 10 to 15 cent gains so far on Friday’s midday. Soymeal contracts are shooting higher, up $8/ton in August. Soy Oil continued to climb, with August rallying another 82 points...

ZMZ24 : 332.5s (+1.00%)
ZLZ24 : 48.70s (+1.65%)
XTU24 : 4,716s (+0.26%)
ZSN24 : 1188-4s (+1.02%)
ZSPAUS.CM : 11.2891 (+0.80%)
ZSQ24 : 1166-2s (+0.73%)
ZSX24 : 1129-6s (+0.74%)
ZSPX24US.CM : 10.6848 (+0.78%)
Corn Climbing Higher Out of the Holiday

Corn futures resumed trade this morning with initial strength and are continuing it through midday, up 5 to 8 ¼ cents. Rains over the next week are spottier according to the 7-day QPF, with WCB seeing...

ZCN24 : 411-2s (+1.92%)
ZCPAUS.CM : 3.9725 (+1.31%)
ZCU24 : 410-4s (+1.23%)
ZCZ24 : 424-0s (+1.07%)
ZCPZ24US.CM : 3.9422 (+1.15%)
Corn Set to Resume Trade Activity

There was no overnight trade due to the July 4 holiday in the U.S. The market resumes trading at 8:30 am CDT this morning. Corn futures settled with most contracts down ½ to 2 ½ cents on Wednesday, as...

XVU24 : 2,472s (-0.16%)
ZCN24 : 411-2s (+1.92%)
ZCPAUS.CM : 3.9725 (+1.31%)
ZCU24 : 410-4s (+1.23%)
ZCZ24 : 424-0s (+1.07%)
ZCPZ24US.CM : 3.9422 (+1.15%)
Soybeans Look to Friday to Close Out Holiday Week

Soybeans look to resume trading this morning at 8:30 am CDT. On Wednesday, they continued recent strength, with futures closing 6 ¾ to 11 ½ cents higher across the board. Soymeal was down 20 to 70 cents/ton...

ZMZ24 : 332.5s (+1.00%)
ZLZ24 : 48.70s (+1.65%)
XTU24 : 4,716s (+0.26%)
ZSN24 : 1188-4s (+1.02%)
ZSPAUS.CM : 11.2891 (+0.80%)
ZSQ24 : 1166-2s (+0.73%)
ZSX24 : 1129-6s (+0.74%)
ZSPX24US.CM : 10.6848 (+0.78%)

Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Maximum Signal Strength.

Key Turning Points

3rd Resistance Point 67.89
2nd Resistance Point 67.89
1st Resistance Point 67.89
Last Price 67.89s
1st Support Level 67.89
2nd Support Level 67.89
3rd Support Level 67.89

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52-Week High 70.00
Last Price 67.89s
Fibonacci 61.8% 60.27
Fibonacci 50% 57.26
Fibonacci 38.2% 54.26
52-Week Low 44.53

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