

Soybean Oil (Futures Friday)
Friday, April 22, 2022 at 4:57:45 p.m. UTC
Featured Commodity:
Soybean oil.
Indonesia has stopped all palm oil exports. This has caused the bean oil market to rally significantly. Is this a long-term or short-term play? This ban will most likely remain on until local supplies are replenished or the price of veg oil decreases significantly.
Technical aspects:
On the July futures the market peaked out at 83.32 which is the highest the market has ever gotten.
Is there Trade?: Yes. A very quick short. As news typically overshoots the market and the market falls back to previous support.
· Risk: Market may continue up
· Reward: potential for market to drop down to 79.50
· Duration: under one week
· Mechanics: Sell 10 July bean oil at 81.20 (22/04/22 10:45 am) and have sell order place at 79.50 (using a 1 month chart for technical)
note: might change order to 78 as it looks like has better techincals. see what monday brings
Results: Exit April 25 9 am. Market was at 78.5 gain of .27 cents. Profit of trade was $40,000

Links to articles:
https://www.barchart.com/futures/quotes/ZLN22/interactive-chart
Links to Tracking spread sheet: