Soybean Oil Futures

Soybean oil is the most widely used oil in cooking around the world and is commonly referred to as vegetable oil. Soybean oil is also growing in popularity as an additive in alternative energy sources such as biodiesel. The effects of the oil embargo of 1973 by OPEC triggered considerable research on biodiesel in various US universities and government agencies. Soybean oil enabled cars are sometimes referred to as frybrids.

Contract Specifications:

Contract Size: 60,000 lbs

Tick Size: 1/100 cent ($0.0001)/lb ($6/contract)

Price Quote: Cents/lb

Contract Months: Oct, Dec, Jan, Mar, May, Jul, Aug, Sep

Last Trading Day: The business day prior to the 15th calendar day of the contract month.

Last Delivery Day: Last business day of the delivery month.

Trading Hours

Electronic: 6:00 p.m. – 6:00 a.m. and 9:30 a.m. – 1:15 p.m. Central Time, Sun.-Fri.

Open Auction: 9:30 a.m. – 1:15 p.m. Central Time, Mon-Fri.

Trading in expiring contracts closes at noon on the last trading day.

Ticker Symbols

Open Auction: BO

Electronic: ZL

See also: Soybean Futures, Soybean Meal Futures