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
EPA’s investigation into used cooking oil (UCO) imports is directly related to biofuel tax incentives and compliance with the Renewable Fuel Standard (RFS) program.
The government’s Dietary Guidelines Advisory (DGA) Committee released its report, recommending reduced consumption of added sugars and red meat.
Alan Brugler of A&N Economics, LLC says corn started higher still digesting the bullish cut to ending stocks in the December WASDE but ran into chart resistance.
Kent Beadle, Paradigm Futures, says grains are extending gains from Tuesday on technical and fund buying as the markets. The markets are still digesting the bullish USDA report data for corn and even wheat.
For the ag sector, Brazil is positioned to be the big winner and France the big loser.
Darren Frye, Water Street Solutions, says grains close higher after the WASDE and USDA’s surprise cut in corn ending stocks by 200 million bushels.
Matt Bennett with AgMarket.Net says the agency shocked the market in the December WASDE by lowering ending stocks on corn 200 million bu. to 1.738 billion bu., with an increase in demand.
Data from the state weather forecasting agency last week indicated that over 37% of winter crops are in poor condition or have not sprouted due to low moisture levels.
Arlan Suderman, Chief Commodities Economist for Stone X, says corn and wheat ended higher on value buying after wheat hit contract lows last week. Soybeans continue to be under pressure with favorable weather in Brazil and basis levels below the U.S.
Brad Kooima, Kooima Kooima Varilek, says cattle are working in last week’s higher fed cash cattle trade. Grains are also mostly higher adding geopolitical risk premium and ahead of the WASDE.