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Soybean Oil Futures Trading

Soybean Oil Futures Trading - Get current Soybean Oil futures prices, quotes, charts, breaking Soybean Oil futures news and futures contract specifications.



Soybean Oil Futures

Current Soybean Oil Futures | Futures Prices

Latest Soybean Oil Futures News

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Soybean Oil Futures Prices — Historical Chart

Chart of Soybean Oil Futures futures updated June 10th, 2016. Click the chart to enlarge. Press ESC to close.

Soybean Oil Futures Trading Chart updated June 10th, 2016

Disclaimer: This material is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.

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Soybean Oil Futures Contract Specifications



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CME Globex Product Symbol (Electronic Trading) ZL

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Open Outcry Product Symbol (Trading Floor) BO

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Contract Size The unit of trading shall be 60,000 lbs. of crude soybean oil.

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Price Quotation Cents per pound

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Venue CME Globex, Open Outcry

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CME Globex Hours (EST) 6:00 pm - 7:15 am and 9:30 am - 1:15 pm Central Time, Sunday - Friday

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Open Outcry Hours (EST) 9:30 am - 1:15 pm Central Time, Monday - Friday

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Minimum Fluctuation The minimum fluctuation for soybean oil futures shall be 1/100th of one cent per pound ($6.00 per contract), including spreads.

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Daily Price Limits There shall be no trading in soybean oil futures at a price more than $.025 per unit of trading ($1,500 per contract) above or below the previous day’s settlement price. Should two or more soybean oil futures contract months within the first eight listed non-spot contracts (or the remaining contract month in a crop year) close at limit bid or limit offer, the daily price limits for all contract months shall increase to $.035 per unit of trading the next business day. Should two or more soybean oil futures contract months within the first eight listed non-spot contracts (or the remaining contract month in a crop year) close at limit bid or limit offer while price limits are $.035 per unit of trading, daily price limits for all contract months shall increase to $.055 per unit of trading the next business day. If price limits are $.055 per unit of trading and no soybean oil futures contract month closes limit bid or limit offer, daily price limits for all contract months shall revert back to $.035 per unit of trading the next business day. If price limits are $.035 per unit of trading and no soybean oil futures contract month closes limit bid or limit offer, daily price limits for all contract months shall revert back to $.025 per unit of trading the next business day. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month.

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Position Limits

In accordance with Rule 559., Position Limits and Exemptions, no person shall own or control positions in excess of:

1. 540 contracts net long or net short in the spot month.

2. 5,000 futures-equivalent contracts net long or net short in any single contract month excluding the spot month. Additional futures contracts may be held outside of the spot month as part of futures/futures spreads within a crop year provided that the total of such positions, when combined with outright positions, does not exceed the all months combined limit.

3. 6,500 futures-equivalent contracts net long or net short in all months combined.

4. Limit on Holdings of Registered and Outstanding Receipts – No person, at any time, shall own or control more than 540 registered and outstanding Soybean Oil Receipts issued by facilities designated by the Exchange as regular to issue receipts for Soybean Oil.

If a person stops Soybean Oil receipts for delivery in a quantity that would cause such person to exceed the 540 receipt limit, the person must cancel, retender or sell the quantity of receipts in excess of 540 not later than the following business day.

A person seeking an exemption from this limit for bona fide commercial purposes shall apply to the Market Regulation Department on forms provided by the exchange, and the Market Regulation Department may grant qualified exemptions in its sole discretion.

Refer to Rule 559 for requirements concerning the aggregation of positions and allowable exemptions from the specified position limits.

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Termination of Trading

No trades in soybean oil futures deliverable in the current month shall be made after the business day preceding the 15th calendar day of that month. Any contracts remaining open after the last day of trading must be either:

(a) Settled by delivery no later than the seventh business day following the last trading day (tender on business day prior to delivery).

(b) Liquidated by means of a bona fide Exchange of Futures for Related Position, no later than the sixth business day following the last trading day.

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Grade Specifications

The contract grade for delivery on futures contracts made under these rules shall be Crude Soybean Oil which conforms to the following specifications:

(a) It shall be one of the following types: Expeller pressed, expeller pressed degummed, solvent extracted, or solvent extracted degummed. Mixtures of one type with any other type shall not be deliverable;

(b) It shall contain not more than 0.3% moisture and volatile content;

(c) It shall be lighter in green color than Standard "A" and when refined and bleached shall produce a refined and bleached oil of not deeper color than 3.5 red on the Lovibond scale;

(d) It shall refine with a loss not exceeding 5% as determined by the "neutral oil" method;

(e) It shall have a flash point not below 250 degrees Fahrenheit, closed cup method;

(f) It shall contain no more than 1.5% unsaponifiable matter (exclusive of moisture and volatile matter).

No lower grade shall be delivered in satisfaction of contracts for future delivery. A higher grade may be delivered at contract price except that where the refining loss is less than 5% as determined by the "neutral oil" method, a premium of one percent of the cash market price at the time of loading shall be paid for each one percent under the 5% loss (fractions figured throughout) with a maximum credit of 41⁄2%.

American Oil Chemists' Society methods shall be followed for sampling and analysis for all tests, except for determining green color, which test shall be the National Soybean Processors Association tentative method.

A tolerance of 150 lbs. of sludge shall be allowed for each trading unit of 60,000 lbs. If the car contains more than 150 lbs. of sludge or if a truck contains more than 125 lbs. of sludge, an allowance shall be made to the Buyer for a total amount of sludge up to 1,000 lbs. at 50% of the price at the time of unloading the car. Sludge in excess of 1,000 lbs. shall be allowed for at the price at the time of unloading the car. Sludge shall be considered to be solid residue which cannot be pumped and squeegeed from the car for the net out-turn weight.

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Listed Contracts

Trading in soybean oil futures is regularly conducted in eight months – September, October, December, January, March, May July, and August.

January (F), March (H), May (K), July (N), August (Q), September (U), October (V) & December (Z).

On the last day of trading in an expiring future, the close of the expiring future shall begin at 12o'clock noon and trading shall be permitted thereafter for a period not to exceed one minute. Quotations made during this one minute period shall constitute the close.

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Settlement Type Physical

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Delivery Points

Crude Soybean Oil may be delivered in satisfaction of Soybean Oil futures contracts from regular warehouses located in the Illinois Territory, Eastern Territory, Eastern Iowa Territory, Southwest Territory, Western Territory or Northern Territory as defined in this rule and at the following price differentials:

(a) Illinois Territory (That portion of the state of Illinois north of latitude 38° 00' N.) at contract price.

(b) Eastern Territory (Those portions of the states of Indiana and Kentucky west of the Ohio-Indiana border and its extension and north of latitude 38° 00'N.) at 40/100ths of one cent per pound under contract price.

(c) Eastern Iowa Territory (That portion of the state of Iowa east of longitude 93° 50'W.) at 100/100ths of one cent per pound under contract price.

(d) Southwest Territory (Those portions of the states of Missouri and Kansas north of latitude 38° 00'N. and east of longitude 97° 00'W.) at 55/100ths of one cent per pound over contract price.

(e) Western Territory (Those portions of the states of Iowa west of longitude 93° 50'W., and Nebraska east of longitude 97° 00'W.) at 5/100ths of one cent per pound under contract price.

(f) Northern Territory (Those portions of the states of Minnesota south of latitude 45° 10’N., and South Dakota south of latitude 45° 10'N., and east of 97° 00'W.) at 125/100ths of one cent per pound under contract price.

(g) For a given soybean crop year ending August 31, excluding the period September 1 through December 31, and for a given Soybean Oil futures delivery territory except the "Illinois Territory'': when the weekly (as of Friday) cumulative average ratio of outstanding Soybean Oil Warehouse Receipts to CBOT maximum 24 hour soybean crushing capacity within that Soybean Oil futures delivery territory, relative to that ratio for the combined remaining Soybean Oil territories, is less than or equal to 0.5, payment for Warehouse Receipts issued from that Soybean Oil territory will be at a premium of 10 cents per hundredweight over contract price in addition to the delivery territorial differential adjustment.

(h) For a given soybean crop year ending August 31, excluding the period September 1 through December 31, when the "Illinois Territory's" weekly (as of Friday) cumulative average ratio of outstanding Soybean Oil Warehouse Receipts to maximum CBOT 24 hour soybean crushing capacity within the Illinois Soybean Oil futures delivery territory, relative to that ratio for the combined remaining Soybean Oil territories, is less than or equal to 0.5, payment for Warehouse Receipts issued from all other Soybean Oil territories will be at a discount of 10 cents per hundredweight under contract price in addition to the delivery territorial differential adjustments.

(i) For a given soybean crop year ending August 31, excluding the period September 1 through December 31, and for a given Soybean Oil futures delivery territory except the "Illinois Territory,'' when the weekly (as of Friday) cumulative average ratio of outstanding Soybean Oil Warehouse Receipts to CBOT maximum 24 hour soybean crushing capacity within that Soybean Oil futures delivery territory, relative to that ratio for the combined remaining Soybean Oil territories, is greater than or equal to 2.0, payment for Warehouse Receipts issued from that Soybean Oil territory will be at a discount of 10 cents per hundredweight under contract price in addition to the delivery territorial differential adjustment.

(j) For a given soybean crop year ending August 31, excluding the period September 1 through December 31, when the "Illinois Territory's" weekly (as of Friday) cumulative average ratio of outstanding Soybean Oil Warehouse Receipts to CBOT maximum 24 hour soybean crushing capacity within the Illinois Soybean Oil futures delivery territory, relative to that ratio for the combined remaining Soybean Oil territories, is greater than or equal to 2.0, payment for Warehouse Receipts issued from all other Soybean Oil territories will be at a premium of 10 cents per hundredweight over contract price in addition to the delivery territorial differential adjustments.

(k) Items (g) through (j) of Rule 12106. shall apply to all CBOT Soybean Oil futures contracts delivered during a one calendar year period beginning with January following the soybean crop year ending August 31, provided that there are on a weekly average at least 150 outstanding Soybean Oil Warehouse Receipts in all Soybean Oil delivery territories combined during that previous soybean crop year.

Based on the adjustments made to territorial delivery differentials during a given calendar year as outlined in items (g) through (k) of Rule 12106., the CBOT shall announce and publish by September 15 of that given calendar year new territorial delivery differentials applicable to all Soybean Oil futures contracts delivered during the next calendar year.

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Storing Charges

No Soybean Oil Warehouse Receipts shall be valid for delivery on futures contracts unless the the storage charges shall have been paid up to and including the 18 day of the preceding month and such payment endorsed on the Soybean Oil Warehouse Receipt unless registration is at a later date. Unpaid accumulated storage charges at the posted tariff applicable to the warehouse where the soybean oil is stored shall be allowed and credited to the buyer by the seller up to and including date of delivery.

The storage rates on Crude Soybean Oil shall not exceed 3/10th of one cent per day per 100 pounds. When the Warehouseman schedules tank car loading, storage shall continue through the date of surrender of a properly cancelled warehouse receipt and shall begin again on the sixth day after surrender date if loading has not been completed and continue until the oil has been loaded. When the Warehouseman schedules truck loading, storage charges shall continue through the date of loading.

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Rulebook Chapter 12

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Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.

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