Soybean Oil Commodity Markets, Prices & Futures
Use the chart below to check futures prices for soybean oil. Click the contract dates for more prices and trends. Cash price reflects the USDA Chicago terminal.
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Latest News From Soybean Markets
China can reduce its soybean demand by 30 MMT by continuing to promote lower soymeal rations in feed and using alternative proteins, the official Xinhua news agency reported, citing unnamed agriculture officials.
Members of the National Oilseed Processor Association (NOPA) crushed 182.2 million bu. of soybeans in January, down 4.2 million bu. from the December record . . .
Crop insurance price guarantees might be higher than last year for corn and soybeans, according to USDA Chief Economist Seth Meyer at the Crop Insurance Convention.
Anticipation of continued cash market strength boosted live cattle futures, as illustrated by the February contract’s $2.50 premium to last week’s live steer average of $140.48.
Crop Consultant Dr. Michael Cordonnier says he was holding out hope that production losses due to drought in southern Brazil would be partially offset by stronger yields in central and northern areas.
March corn futures rose 4 3/4 cents to $6.55 3/4, the highest close for a nearby contract since $6.83 on July 14. December corn rose 3 1/2 cents to $5.98 1/4 after posting a contract high.
The University of Michigan’s Consumer Sentiment Index dropped to 61.7, from 67.2 in January and down from a 76.8 reading in February 2021.
Soybean prices have a chance of hitting the all-time high of $17.94 3/4 a bushel set in 2012 said Alex Sanfeliu, head of Cargill’s World Trading Group. . .