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North American soybean and canola oils remain competitive, limiting import price pressure. Soybean oil prices fluctuate with export and biodiesel markets. Renewable diesel margins may rise, boosting soybean oil demand. Supply is constrained by maintenance and a strike. Crop production is strong, pressuring prices. Economic indicators suggest potential interest rate cuts, supporting equity markets. Political and macroeconomic factors could impact grain prices, which are at multi-year lows.

Non-GMO supplies are tight. U.S. oils are competitively priced. Weather impacts crops. Global supplies are bearish but volatile. Seasonal risks peak until early July. Despite market uncertainty, strategic risk management remains crucial for navigating volatility and ensuring business certainty.

Entering Q2, agriculture faces downtime challenges but sees hope in seasonal demand spikes and the value of North American oils. Soft demand persists in renewables, while rain improves Midwest soil for grains. Despite market uncertainty, strategic risk management remains crucial for navigating volatility and ensuring business certainty.

HBO Profit-Lock Update: March 2024: Current soybean oil market and how it compares to prior months or years, USDA reports, Economic Impact on the industry, International oil supply’s affect on domestic pricing, Bio-Diesel, and more.

Jason Thomas, president of Healthy Brand Oil, has some interesting insight on agriculture, veg oil, industry headlines and more in his HBO Profit-Lock Update: February 2024.

Jason Thomas, president of Healthy Brand Oil, has some interesting insight on agriculture, veg oil, industry headlines and more in his HBO Profit-Lock Update: December 2023.

30 and 15-year seasonals favor a bottom of soybean oil futures in early October.  Overseas suppliers are looking to capitalize on higher US prices. 

Domestic soybean oil inventories are tight but 30-year seasonals favor a bottom of soybean oil futures in early October. Click for more.

Grains are running in to a softer temperature outlook for August and technical selling after a strong front part of the week. Click for more.

The soybean oil futures market has been on fire. As of last Friday’s close (AUG 2023 Futures), the market was up 31.29% from its bottom in 12 trading days. The last twelve trading days are about as strong a technical move as you will see. Underneath the technical move is a solid fundamental supply/demand story and the current deterioration of N.A. crop conditions because of a lack of moisture.

See the two below charts for more insight.