CBOT Soybean Oil (Chicago, US)

Price quotation U.S. cents per pound
Kontraktgröße / Contract Unit
60,000 pounds (~27 metric tons)
Specification

Historical closing prices

Newsticker

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02.
04.24
08:53

Weak guidance from the soy market on Thursday also dragged rapeseed down on the last trading day in March. The most traded front month of May closed at EUR 438.00 per ton, EUR 3.50 weaker. Yesterday and Friday, trading in Paris was closed due to the public holiday. The cash markets also showed somewhat weaker trends at…

28.
03.24
09:25

The signs for soybeans were red yesterday. Today prices are trending south again. Soybean meal is also falling, losing yesterday as well as in pre-market trading this Thursday. The consulting firm AG Rural reports that the soybean harvest in Brazil has stalled; the harvest progress is stated at 69 percent, which is…

28.
03.24
09:19

For the second trading day in a row, rapeseed fell. The front month of May lost 10.50 euros over the day with a closing price of 441.50 euros/t. Traders are currently primarily pointing to the situation with competing vegetable oils, but voices are also being raised again and again that consider the price increase of…

27.
03.24
10:12

Yesterday, the color red dominated the soy complex. Soybeans lost double digits in the front month of May, and the signs for soy meal also pointed south. The most traded shot contract for May 2024 fell by 1.90 US dollars to 339.80 US dollars, which corresponds to a converted rate of 345.07 euros/t. The environment for…

27.
03.24
10:03
Raps corrected Newsticker

Yesterday, rapeseed was unable to continue the upward trend of the last few days. The listing on Euronext/Matif was weaker with a loss of 5 euros/t in the front month. The closing price was set at 452 euros/t. Declining prices for crude oil had a negative impact, as did the weak specifications from the soy complex. In…

27.
03.24
09:59

Maize on Euronext/Matif ended the second trading day of this shortened Holy Week with small setbacks. At the closing bell there was a price of 191.50 euros/t on the display board in Paris for the most traded date in June. While the news situation in Europe remains calm, there are a lot of new arguments for the corn…

ZMP Market assessment

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12.
04.24
  • low rapeseed forecast 2024 Europe
  • Tensions in Ukraine
  • Weather conditions for soybean sowing in the USA partly critical
  • weak US export demand
  • ongoing harvest in Brazil and Argentina
  • Higher global soy production expected
ZMP Market Report Compact

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13.
04.24
09:21

USDA: Global oilseed market situation in 2023/24 hardly changed from the previous month Global oilseed production in 2023/24 is estimated to be unchanged from the previous month at 658.5 million tonnes. Consumption will increase by 1 million tonnes to 648 million tonnes. This means that stocks will only decrease insignificantly and, at 130.6…

21.
03.24
12:56

COCERAL estimates the 2024 EU-27 rapeseed harvest at 19.13 million t: - 4.6% compared to the previous year. In its March 24 issue, the umbrella organization of European agricultural traders (COCERAL) estimates the EU rapeseed harvest at 19.13 million t (previous year 20.5 million t). This means a decrease of -4.6% compared to the previous year. The…

15.
03.24
11:22

IGC corrects world soybean harvest 2023/24 - forecast 2024/25 The 2023/24 soybean harvest will be reduced to around 390 million t due to the weather-related adverse harvest in Brazil. Consumption is reset to a similar extent. This means that the supply situation changes only insignificantly. The IGC has issued a preliminary estimate for the 2024/25…

14.
03.24
14:32

The 2024 rapeseed harvest in Germany remains below the previous year's level . The German Raiffeisen Association (DRV) has based on the Stat. Federal Office of December 22, 2023 for winter crops made a first rapeseed harvest estimate for 2024. The DRV has partly extrapolated the forecasts of yields per hectare using several years of experience. The…

09.
03.24
12:34

USDA cuts oilseed market compared to previous month The latest USDA estimate of oilseed production for 2023/24 is somewhat more subdued than last month. Total production will be reduced by 1 million t to 658 million t. Global consumption remains unchanged at 648 million tonnes. Year-on-year production increased by 20 million tonnes to a record…

13.
01.24
11:05
USDA Oilseed Market 2023/24 Market Report Compact

Oilseeds: status and prospects (1) IGC with soybean estimate: Despite a slight reduction in the previous month's estimate, the IGC's forecast of global soybean production of 392 million tonnes remains at a record level. The decisive factor is the Brazilian harvest that has just started with a slightly reduced estimate of 154 million t (previous…

Press review

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12.
04.24
22:21

Even though there are still three months left in the 2023/24 marketing year, most of the focus is on next year’s crop. Most of last year’s crop has already been sold but some farmers are still holding old-crop supplies that...

12.
04.24
22:18

The USDA has trimmed its 2023-24 US corn ending stocks estimate from last month amid heavier ethanol and feed demand. In its latest monthly supply-demand estimates Thursday, the USDA pegged ending stocks at 2.122 billion bu, down 50 million from...

26.
03.24
07:27

Vegetable oils such as rapeseed, sunflower or soybean oil are currently in short supply and are causing the recent price increase in rapeseed and rapeseed prices.

Daten-Copyright / Haftungsausschluss
Description

Copyright © 2018. All CME market data is provided by Barchart Solutions.

Futures: At least a 10-minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

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Specification

Denominierung / Currency
U.S. Dollar ($)
Minimale Preisveränderung / Minimum Price Fluctuation
1/100 of one cent (0.0001) per pound = $6.00 TAS: Zero or +/- 4 ticks in the minimum tick increment of the outright
Fälligkeiten / Maturities
15 monthly contracts of Jan, Mar, May, Aug, Sep and 12 monthly contracts of Jul, Oct, Dec listed annually after the termination of trading in the December contract of the current year
Handelszeiten / Trading Hours
CME Globex:
Sunday - Friday: 7:00 p.m. - 7:45 a.m. CT and Monday - Friday: 8:30 a.m. - 1:20 p.m. CT

TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and Monday - Friday 8:30 a.m. - 1:15 p.m. CT
CME ClearPort:
Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 p.m. CT
Letzter Handelstag / Last trading day
Trading terminates on the business day prior to the 15th day of the contract month.
Erfüllung / Settlement
Deliverable
Schlussabrechnungspreis / Final Settlement Price
Soybean Oil Settlement Procedures
Stand / Last updated

Further specifications

Crude soybean oil meeting exchange-approved grades and standards-see exchange Rules and Regulations for exact specifications.

The CBOT (Chicago Board of Trade) is one of the oldest financial and commodity futures exchanges based in Chicago. In 2007, the CME (Chicago Mercantile Exchange) and the CBOT were merged to form the joint CME Group Inc. The CBOT offers both electronic trading and open outcry trading on the trading floor. An overview of agricultural commodity futures can be found here.

Futures are available on a whole range of different underlying assets such as soybeans(soybean meal, soybean oil). It is important to note that all futures are traded on futures exchanges. The exchange determines exactly what a futures contract looks like.

It should also be noted that virtually all futures contracts are not physically delivered, but are generally settled by trading the offsetting position before the contract expires. Most traders only use futures to hedge the prices they pay or receive on the local market at world market prices and are not interested in physical delivery at the location specified by the exchange.

The soybean, often referred to simply as soy, is a plant species within the legume family (Leguminosae or Fabaceae).

The cultivation of soybeans as a food crop has been documented since 3050 BC in Japan and at least since 1550 BC in Korea and China. Today, soybeans are grown on 6% of the world's agricultural land and are the world's most important oilseed. Its increasing importance is reflected in the highest increase in acreage of all crops since the 1970s. While 17 million tons were produced in 1960, this figure had already risen to 334.9 million tons by 2016.

As an oilseed, soybeans contain around 20% oil. The soybean oil is mainly used as food, but also for the production of biodiesel, for example. After the oil has been pressed, the remaining extraction meal (soybean cake) is heated to destroy the components that are toxic and unpalatable to animals and humans (trypsin inhibitors and haemagglutinins) and then 98% is fed to animals and 2% is used as food for humans. Soybeans contain about 37% protein. As food, the protein quality of soy protein is comparable to that of animal protein, which sets soybeans apart from other plants.

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