CBOT · Agriculture · Futures
CBOT Soybean Oil (ZL): 60,000 pounds of crude soybean oil – food oil and a key biofuel feedstock.
Source: CME Group contract specifications · reviewed Sep 30, 2026
| Contract | Roll date | First notice | Last trading day | Days left |
|---|---|---|---|---|
| ZLV26 Oct 2026 | Fri, Sep 25, 2026 | Wed, Sep 30, 2026 | Wed, Oct 14, 2026 | 15 |
| ZLZ26 Dec 2026 Active | Tue, Nov 24, 2026 | Mon, Nov 30, 2026 | Mon, Dec 14, 2026 | 76 |
| ZLF27 Jan 2027 | Mon, Dec 28, 2026 | Thu, Dec 31, 2026 | Thu, Jan 14, 2027 | 107 |
| ZLH27 Mar 2027 | Tue, Feb 23, 2027 | Fri, Feb 26, 2027 | Fri, Mar 12, 2027 | 164 |
| ZLK27 May 2027 | Tue, Apr 27, 2027 | Fri, Apr 30, 2027 | Fri, May 14, 2027 | 227 |
| ZLN27 Jul 2027 | Fri, Jun 25, 2027 | Wed, Jun 30, 2027 | Wed, Jul 14, 2027 | 288 |
Roll. The date shown is three business days before first notice, when speculators roll to the next active month.
First notice day. Last business day of the month before the contract month. Longs can be assigned delivery from here on – brokers usually require longs to be closed or rolled before this date.
Last trading day. Business day before the 15th calendar day of the contract month.
US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18
Calculated from exchange rules and the US exchange holiday calendar. Confirm with the CME Group expiration calendar.
| Session | Eastern (ET) | Central (CT) | Your time |
|---|---|---|---|
| Overnight session (Globex) | Sun–Fri 8:00 p.m. – 8:45 a.m. | Sun–Fri 7:00 p.m. – 7:45 a.m. | – |
| Day session (Globex) | Mon–Fri 9:30 a.m. – 2:20 p.m. | Mon–Fri 8:30 a.m. – 1:20 p.m. | – |
| Daily settlement | 2:15 p.m. | 1:15 p.m. | – |
Holiday hours differ – check the CME holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).
| Contract | Maintenance |
|---|---|
| Sep 2026 – Oct 2026 | $2,100 |
| ZLZ26 Dec 2026 Active | $2,050 |
| ZLF27 Jan 2027 | $2,000 |
| ZLH27 Mar 2027 | $1,950 |
Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.
−210,576 net contracts
+12,393 vs. prior week · −34.8% of OI
Movement (6 wk): −14
Producers, merchants, processors and users hedging physical business – the classic commercials. They tend to buy weakness and sell strength.
+87,990 net contracts
+3,450 vs. prior week · +14.5% of OI
Movement (6 wk): +4
Swap dealers – banks hedging OTC swaps, including commodity index money. Often structurally positioned; read against their own range, not the sign.
+92,137 net contracts
−9,343 vs. prior week · +15.2% of OI
Movement (6 wk): +5
Managed money – CTAs, commodity pools and hedge funds. Trend followers; their positioning tends to peak near turning points.
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Producers / Merchants | 159,148 | 369,724 | −210,576 | +12,393 | −11,184 | 58 | 24 | −14 |
| Swap Dealers | 95,290 | 7,300 | +87,990 | +3,450 | +2,072 | 98 | 32 | +4 |
| Managed Money | 119,764 | 27,627 | +92,137 | −9,343 | +7,021 | 15 | 72 | +5 |
| Other Reportables | 32,061 | 13,998 | +18,063 | −5,235 | −1,427 | 74 | 55 | +25 |
| Nonreportables | 35,063 | 22,677 | +12,386 | −1,265 | +3,518 | 73 | 80 | +1 |
| Group | Long | Short | Net | Δ 1 wk | Δ 4 wk | Index 26 wk | Index 3 yr | Move 6 wk |
|---|---|---|---|---|---|---|---|---|
| Commercials | 275,203 | 397,789 | −122,586 | +15,843 | −9,112 | 65 | 23 | −10 |
| Non-Commercials | 151,825 | 41,625 | +110,200 | −14,578 | +5,594 | 33 | 75 | +11 |
| Nonreportables (small) | 35,063 | 22,677 | +12,386 | −1,265 | +3,518 | 73 | 80 | +1 |
| Report date | Producers / Merchants | Swap Dealers | Managed Money | Other Reportables | Nonreportables | Open interest |
|---|---|---|---|---|---|---|
| Sep 22, 2026 | −210,576 | +87,990 | +92,137 | +18,063 | +12,386 | 605,458 |
| Sep 15, 2026 | −222,969 | +84,540 | +101,480 | +23,298 | +13,651 | 605,960 |
| Sep 8, 2026 | −213,790 | +84,337 | +91,711 | +25,271 | +12,471 | 601,961 |
| Sep 1, 2026 | −224,427 | +84,399 | +99,823 | +26,726 | +13,479 | 609,008 |
| Aug 25, 2026 | −199,392 | +85,918 | +85,116 | +19,490 | +8,868 | 597,071 |
| Aug 18, 2026 | −200,805 | +84,593 | +91,233 | +13,009 | +11,970 | 624,433 |
| Aug 11, 2026 | −180,590 | +84,414 | +79,284 | +4,644 | +12,248 | 620,069 |
| Aug 4, 2026 | −174,108 | +83,449 | +79,033 | +1,359 | +10,267 | 623,230 |
| Jul 28, 2026 | −200,829 | +88,407 | +107,898 | −6,986 | +11,510 | 650,041 |
| Jul 21, 2026 | −209,731 | +84,856 | +120,246 | −6,104 | +10,733 | 661,652 |
| Jul 14, 2026 | −195,576 | +77,217 | +107,945 | −702 | +11,116 | 638,102 |
| Jul 7, 2026 | −182,246 | +77,938 | +84,919 | +9,747 | +9,642 | 642,514 |
Source: CFTC Public Reporting Environment · contract market code 007601 (SOYBEAN OIL - CHICAGO BOARD OF TRADE)
Before commissions and exchange fees. Prices round to the nearest tick of 0.01.
One tick is 0.01 cent per pound, worth $6.00 per contract. A 1-cent move is worth $600.
The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.