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Key Takeaway
US Soybean Oil Chicago First-Contract Futures prices increased from US$ 955.61/MT in October 2024 to US$ 1,596/MT in September 2026, a gain of 67.1%. Prices declined to a low of US$ 903.22/MT in December 2024 before recovering through the remainder of the period, with a particularly strong increase during February–March 2026. The trend indicates a strong upward movement in the quoted benchmark.
- Chicago soybean oil futures are influenced by soybean crushing activity, oil inventories, and demand from food manufacturers and biofuel producers. Renewable diesel and biodiesel production, government incentives, blending mandates, and crude oil prices can significantly affect industrial demand for soybean oil.
- Soybean harvests, export availability, and the balance between soybean meal and oil revenues influence processor economics. Competition from palm, rapeseed, and sunflower oils also affects market values. Changes in domestic biofuel feedstock policies, global vegetable oil stocks, trade flows, and speculative positioning can further contribute to futures-price volatility.
About This Dataset
This dataset tracks Chicago soybean oil futures for the first forward contract covering exchange-approved grades, quoted in US dollars per metric ton. It supports monitoring of vegetable-oil benchmark prices and analysis of movements linked to soybean crushing, edible-oil demand, biodiesel use, inventories, and competing oil markets.
Methodology
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