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Soybean Oil Jul '17 (ZLN17)

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Soybean Oil Futures Market News and Commentary

Soybeans Head Back Lower to Start Thursday

Soybeans are posting losses of 6 to 8 cents this morning following overnight trade. They saw 1 ½ to 5 cent higher trade on Wednesday, as there was some recovery in the product values. Soymeal ended the day with contracts up $1.20 to $3.40/ton, with Soy Oil 1 to 9 points higher in the front months and lower in the deferreds. 

President Biden has suggested raising the tariff rate on Chinese steel from 7.5% to 25%. In response, China’s commerce ministry has urged the US to stop raising tariffs on Chinses products.

The weekly Export Sales report will be out shortly, with the trade range of estimates running 300,000-650,000 MT in soybean sales for the week that ended on April 11. US FOB prices have narrowed their premium to Brazil recently, but are still 50-75 cents above South American offerings. The new crop total is expected to be in the range of 250,000-450,000 MT. 

Soy meal sales are seen totaling 100,000 to 400,0000 MT in that week, with bean oil in a range of net... 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
06/30/17
Expiration Date
07/14/17 (expired)

Seasonal Chart

Soybean Oil Jul '17
Average Price Chart for 5 Prior Jul Contracts

Commitment of Traders Positions as of Apr 9, 2024

View Chart Details
Commercials - Long / Short
277,288 (+14,505)
268,394 (+4,372)
Non-Commercials - Long / Short
112,246 (-4,966)
122,878 (+1,809)
Producers - Long / Short
141,652 (+16,766)
257,053 (+12,026)
Swap Dealers - Long / Short
129,330 (+4,133)
5,035 (-1,260)
Managed Money - Long / Short
82,987 (-2,973)
86,639 (+8,060)
Other Reportables - Long / Short
29,259 (-1,993)
36,239 (-6,251)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
31.40 +5.29%
on 06/23/17
33.83 -2.28%
on 07/11/17
+0.97 (+3.02%)
since 06/14/17
3-Month
30.89 +7.02%
on 06/05/17
33.83 -2.28%
on 07/11/17
+1.68 (+5.35%)
since 04/13/17
52-Week
30.68 +7.76%
on 07/28/16
38.77 -14.73%
on 12/07/16
+1.06 (+3.31%)
since 07/14/16

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Most Recent Stories

More News
Soybeans Head Back Lower to Start Thursday

Soybeans are posting losses of 6 to 8 cents this morning following overnight trade. They saw 1 ½ to 5 cent higher trade on Wednesday, as there was some recovery in the product values. Soymeal ended the...

ZMN24 : 336.6 (-0.94%)
ZLN24 : 45.18 (-0.83%)
ZSK24 : 1138-2 (-0.98%)
ZSPAUS.CM : 10.8442 (-1.03%)
ZSN24 : 1152-6 (-0.99%)
ZSX24 : 1152-2 (-0.78%)
ZSPX24US.CM : 10.9185 (-0.82%)
Wheat Trying to Put Together a Bounce

The wheat markets are trading back higher early on Thursday, led by 5 to 7 cent gains in the spring wheat. Chicago is up 4 to 5 cents, with KC 3 ½ to 4 cents higher. Wheat closed Wednesday with contracts...

ZWK24 : 538-2 (+0.23%)
ZWN24 : 554-4 (+0.41%)
KEK24 : 578-4 (+1.00%)
KEN24 : 574-6 (+1.01%)
MWK24 : 641-6 (+1.34%)
Corn Lower Ahead of Export Sales Release

Corn prices are down a penny to 2 cents ahead of the weekly USDA Export Sales report. Corn ended the midweek session with weakness, as contracts were down ¾ to 2 ½ cents on Wednesday. New crop December...

ZCK24 : 427-0 (-0.76%)
ZCPAUS.CM : 4.1036 (-0.75%)
ZCN24 : 436-4 (-1.02%)
ZCZ24 : 460-0 (-1.02%)
ZCPZ24US.CM : 4.2858 (-1.04%)
Grain Markets Stuck in a Rut

Corn futures remain in a sideways trading range while soybeans and wheat continue to face headwinds.

No Bull | The Five Spot

#5 | ¡Viva México! Mexico has a record 18.7mmt (735mbu) of US corn on the books this year - 38% higher than their commitments at this point one year ago. Not only are their current commitments a record...

Pure Hedge - Livestock and Grain

Cattle and Beans about to break again... Bullish Corn Now.

Wheat Drops with Wednesday Weakness

The wheat markets closed the Wednesday with contracts heading towards the lows. Chicago futures were down 4 ¾ to 12 ¾ cents. Kansas City posted losses of 8 ¾ to 14 ¾ cents at the close. MPLS was the...

ZWK24 : 538-2 (+0.23%)
ZWN24 : 554-4 (+0.41%)
KEK24 : 578-4 (+1.00%)
KEN24 : 574-6 (+1.01%)
MWK24 : 641-6 (+1.34%)
Beans Held Up by Product Pop

Soybeans saw 1 ½ to 5 cent higher trade on Wednesday, as there was some recovery in the product values. Soymeal ended the day with contracts up $1.20 to $3.40/ton, with Soy Oil 1 to 9 points higher in...

ZMN24 : 336.6 (-0.94%)
ZLN24 : 45.18 (-0.83%)
ZSK24 : 1138-2 (-0.98%)
ZSPAUS.CM : 10.8442 (-1.03%)
ZSN24 : 1152-6 (-0.99%)
ZSX24 : 1152-2 (-0.78%)
ZSPX24US.CM : 10.9185 (-0.82%)
Corn Creeps Lower into the Close

Corn ended the midweek session with weakness, as contracts were down ¾ to 2 ½ cents on the day. New crop December led the way with the 2 ½ cent drop, with May down the ¾. EIA data from this morning...

ZCK24 : 427-0 (-0.76%)
ZCPAUS.CM : 4.1036 (-0.75%)
ZCN24 : 436-4 (-1.02%)
ZCZ24 : 460-0 (-1.02%)
ZCPZ24US.CM : 4.2858 (-1.04%)
Grain Spreads: Creamed Wheat

Conditions Impressive for Soft Red Winter

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 33.15
1st Resistance Point 33.10
Last Price 33.06s
1st Support Level 32.97
2nd Support Level 32.89
3rd Support Level N/A

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52-Week High 38.77
Fibonacci 61.8% 35.68
Fibonacci 50% 34.72
Fibonacci 38.2% 33.77
Last Price 33.06s
52-Week Low 30.68

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