ZL Futures (Soybean Oil): Tick Value, Expiries, Order Flow
ZL, the CBOT Soybean Oil future, covers 60,000 pounds with a tick of 1/100 cent per pound, worth $6. ZLV6, the front month on September 25, 2026, has its first notice day September 30, 2026 and last trading day October 14, 2026.
Senzoukria · Futures contracts · Updated September 2026
Contract specifications
- Exchange
- CBOT (CME Group)
- Contract unit
- 60,000 pounds
- Tick size
- 1/100 cent per pound
- Tick value
- $6
- Value of one cent per pound
- $600
- Listed months in Senzoukria
- F, H, K, N, Q, U, V, Z (Jan, Mar, May, Jul, Aug, Sep, Oct, Dec)
- Last trading day
- Business day before the 15th of the contract month
- Settlement
- Physical delivery
- Front month on Sep 25, 2026
- ZLV6
ZL contract specifications
The contract unit is 60,000 pounds, quoted in cents per pound. The minimum fluctuation is 1/100 cent per pound, worth $6 per contract, and one cent per pound is worth $600 per contract. Open contracts are settled by delivery no later than the seventh business day after the last trading day. Senzoukria's contract table holds the tick as 0.01 with a multiplier of 600 on the CBOT venue code.
ZL last trading day and next contracts
No trades are made after the business day preceding the 15th calendar day of the contract month.
Senzoukria's expiry engine keys on the last trading day, not on first notice day, so its default switch comes after first notice. For ZLV6, the default moves to the next listed month on October 10, 2026 (4 calendar days before October 14, 2026), and ZLV6 stays selectable with its badge until that date.
| Contract | Delivery month | First notice day | Last trading day |
|---|---|---|---|
| ZLV6 | October 2026 | Sep 30, 2026 (Wed) | Oct 14, 2026 (Wed) |
| ZLZ6 | December 2026 | Nov 30, 2026 (Mon) | Dec 14, 2026 (Mon) |
| ZLF7 | January 2027 | Dec 31, 2026 (Thu) | Jan 14, 2027 (Thu) |
| ZLH7 | March 2027 | Feb 26, 2027 (Fri) | Mar 12, 2027 (Fri) |
| ZLK7 | May 2027 | Apr 30, 2027 (Fri) | May 14, 2027 (Fri) |
ZL tick value and P&L arithmetic
- One tick = 0.01 × $600 = $6 per contract.
- One cent per pound = 100 ticks = $600 per contract.
- 20 ticks (0.2 cents) = $120 per contract, $360 on 3 contracts.
- One tick of slippage in the automatic backtest costs $6 per contract on each entry.
Reading ZL order flow
With row resolution off, a ZL footprint has one row per tick of 0.01 cents. The fixed steps give 2 ticks = 0.02, 4 ticks = 0.04, 8 ticks = 0.08, 16 ticks = 0.16, 32 ticks = 0.32 cents per row.
Soybean oil is priced in cents per pound on 60,000 pounds, with a tick of one hundredth of a cent worth $6. In Senzoukria's units the tick is 0.01 and one cent is $600. Its delivery window is longer than the other grains': the rulebook allows delivery up to the seventh business day after the last trading day.
Using ZL in Senzoukria
- Symbol picker on a Rithmic or Databento CME source: type ZL; on September 25, 2026 the listed contract is ZLV6 (October 2026), in the Grains family.
- Heatmap and DOM show that contract's book with CBOT as the venue in the ladder header.
- Replay lists ZL in the Grains group. In the automatic backtest, set Point value ($) to 600; the field defaults to 2, the MNQ value.
Related pages
- ZM — Soybean Meal
- Tick value
- Front-month contract
- Front month and expiry rules in Senzoukria
- Symbol picker
- Footprint charts
In the same section
Sources
- CBOT Rulebook, Chapter 12: Soybean Oil futures (2026-09-25)
- CME Group, Soybean Oil futures calendar (2026-09-25)
This page in other languages
Frequently asked questions
- How much is one ZL tick worth?
- $6. The tick is 1/100 cent per pound on 60,000 pounds; in Senzoukria's units that is 0.01 × $600 = $6.
- When is first notice day for ZLV6?
- September 30, 2026, according to the CME Group calendar, and the last trading day is October 14, 2026. Senzoukria's picker keeps ZLV6 as its default until October 10, 2026, which is after first notice day.