Soybean Oil Prices

29-01-2026 - Over the past month, soybean oil prices have risen from 48.78 ¢/lb to 54.31 ¢/lb, indicating a strengthening market potentially due to supply constraints or increased demand. The forecast for Soybean Oil (CME) is 54.99 ¢/lb, a modest increase of 1.3% from the current price, suggesting a stable market with minimal risk, as the price change is only 0.68 ¢/lb.

The current forecast indicates upward price pressure on raw materials, driven by technical data with a 1.04 ¢/lb impact, particularly from traders' positions. However, flows data, with a -0.22 ¢/lb impact, suggests some downward pressure, reflecting mixed signals across different data types.

Recent analyses, however, present a bearish outlook for the broader soybean market, predicting potential price declines in the coming month. Factors contributing to this outlook include record U.S. production, weak Chinese demand, and global oversupply. For instance, July 2025 futures have dropped to $9.69 per bushel, a 5.43% decrease from the previous month and a 5.18% decline from the same period in 2024. Additionally, trade tensions between the U.S. and China have significantly reduced U.S. soybean exports to China, with Brazil now supplying 71% of China's imports compared to the U.S.'s 21%. This analysis supports the forecasted downward trend in soybean prices, presenting a contrary view to the forecast's upward trend prediction.