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Soybean Oil Dec '20 (ZLZ20)

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Soybean Oil Futures Market News and Commentary

Beans Back to Mixed for Midday

Soybeans were fading into the reports, before rallying out of the release. Current quotes are back to mixed as the new crop futures are holding fractional to 4 cent gains and old crop prices are back to 2 cents in the red. Midday Soymeal futures are trading $2 in the red through Thursday’s midday. Soy Oil futures are working off their highs but still 15 points in the black for midday. 

The March Intentions data showed an 86.510 million acre planted area for 24/25 soybeans. That’s up 2.9 million acres from last year vs the trade estimate to see 1.9 million more bean acres. The largest increase was +700k acres for ND, while MO was up 400k yr/yr. The ECB states were +250k acres in each IA/IN/OH. 

NASS Grain Stocks data showed Q2 demand was 1.156 bbu from the 3.001 on Dec 1. That had March supplies at 1.845 billion vs 1.687 billion last year and compares to the trade average guess of 1.835 bbu. On farm supplies were 933 million bushels vs the 750 mbu last year and off farm b... 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
11/30/20
Expiration Date
12/14/20 (expired)

Seasonal Chart

Soybean Oil Dec '20
Average Price Chart for 5 Prior Dec Contracts

Commitment of Traders Positions as of Mar 19, 2024

View Chart Details
Commercials - Long / Short
264,146 (+9,995)
247,759 (+24,106)
Non-Commercials - Long / Short
108,981 (-3,671)
129,187 (-15,987)
Producers - Long / Short
128,872 (+8,173)
231,752 (+20,302)
Swap Dealers - Long / Short
124,123 (-2,453)
4,856 (-471)
Managed Money - Long / Short
73,135 (-1,274)
88,234 (-19,353)
Other Reportables - Long / Short
35,846 (-2,397)
40,953 (+3,366)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
36.77 +9.08%
on 11/16/20
40.11 unch
on 12/15/20
+2.98 (+8.03%)
since 11/13/20
3-Month
31.47 +27.45%
on 10/05/20
40.11 unch
on 12/15/20
+5.96 (+17.45%)
since 09/15/20
52-Week
25.90 +54.86%
on 03/18/20
40.11 unch
on 12/15/20
+6.43 (+19.09%)
since 12/13/19

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Most Recent Stories

More News
Shootin' the Bull about no more cheap corn

With the aspects of cheap corn now out of the picture, those declining cost of gains is now expected to rise.  While not necessarily bullish, the report is in no way bearish.  I think what it will do...

Corn Futures Rally Following Bullish USDA Report

The USDA report showed fewer acres of corn which sent prices sharply higher into the long weekend.

Agricultural Prices

Agricultural Prices - 2024-03-28

ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSBAUS.CM : -0.5658 (+1.27%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,791s (-1.07%)
XTK24 : 4,754s (+0.44%)
ZCK24 : 442-0s (+3.57%)
ZCPAUS.CM : 4.2045 (+3.96%)
ZCBAUS.CM : -0.2154 (+3.49%)
XVK24 : 2,400s (+0.54%)
XEU24 : 61.25 (-0.31%)
Corn Rallies Out of Reports

Corn futures shot higher after NASS released data near midday. Current prices are working at or near their highs for the day with double digit gains of as much as 17 ¼ cents. NASS data showed corn stocks...

ZCK24 : 442-0s (+3.57%)
ZCPAUS.CM : 4.2045 (+3.96%)
ZCN24 : 454-4s (+3.47%)
ZCU24 : 464-4s (+3.57%)
Beans Back to Mixed for Midday

Soybeans were fading into the reports, before rallying out of the release. Current quotes are back to mixed as the new crop futures are holding fractional to 4 cent gains and old crop prices are back to...

ZMK24 : 337.7s (-0.38%)
ZLK24 : 47.95s (+0.59%)
ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSN24 : 1205-2s (-0.10%)
ZSQ24 : 1203-6s (-0.10%)
Wheat Futures Up Double Digits

Midday wheat futures are gaining double digits for midday, with prices ~5 cents off their highs. Chicago is up by as much as 2.9% for midday. KC wheat is gaining 8 to 11 cents so far. Spring wheat futures...

ZWK24 : 560-2s (+2.33%)
ZWN24 : 575-6s (+2.31%)
KEK24 : 585-2s (+1.21%)
MWK24 : 645-0s (-0.92%)
Grain Stocks

Grain Stocks - 2024-03-28

ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSBAUS.CM : -0.5658 (+1.27%)
ZSDAUS-BIW.CM : 4,506,573 (unch)
ZSYAUS-BIW.CM : 52.03 (unch)
XSK24 : 3,791s (-1.07%)
XTK24 : 4,754s (+0.44%)
ZCK24 : 442-0s (+3.57%)
ZCPAUS.CM : 4.2045 (+3.96%)
ZCBAUS.CM : -0.2154 (+3.49%)
XVK24 : 2,400s (+0.54%)
XEU24 : 61.25 (-0.31%)
Traders Await New News From Today’s All Important USDA Report.

Today’s USDA report is often regarded as one of the more meaningful reports of the year which often comes with volatile market reactions. Will we see the same this year?

Wheat Mixed After Tight Overnight Trade

Wheat prices are fractionally mixed ahead of the USDA data releases. Overnight the May SRW contract kept to a fairly tight 5 cent range, from +2 ¾ to -2 ¼ cents. KC wheat futures ended the day mixed...

ZWK24 : 560-2s (+2.33%)
ZWN24 : 575-6s (+2.31%)
KEK24 : 585-2s (+1.21%)
MWK24 : 645-0s (-0.92%)
Beans Weaker into Report Day

Current soybean prices are 4 to 3 ¾ cents lower ahead of the weekly Export Sales report and the USDA Grain Stocks and Planting Intentions reports scheduled for 11 AM CDT. Soy Oil futures closed more...

ZLK24 : 47.95s (+0.59%)
ZMK24 : 337.7s (-0.38%)
ZSK24 : 1191-4s (-0.08%)
ZSPAUS.CM : 11.3491 (-0.02%)
ZSN24 : 1205-2s (-0.10%)
ZSQ24 : 1203-6s (-0.10%)

Barchart Trading Guide

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

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 40.12
1st Resistance Point 40.11
Last Price 40.11s
1st Support Level 40.10
2nd Support Level 40.10
3rd Support Level N/A

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52-Week High 40.11
Last Price 40.11s
Fibonacci 61.8% 34.68
Fibonacci 50% 33.01
Fibonacci 38.2% 31.33
52-Week Low 25.90

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