Soybean Oil
- CME soybean oil futures were higher through Wednesday, compared to Wednesday of the prior week. Spot soybean oil futures have rallied 19.6% since late December
- The Brazilian soybean harvest is making rapid progress, while recent rain in Argentina has helped to stabilize the crop there, after several weeks of drier-than-normal conditions, according to analysts
- In its February supply/demand report, the USDA left its estimates for 2025/2026 ending stocks unchanged from January for both soybeans and soybean oil
- Imports of used cooking oil into the U.S. have diminished, supporting other biofuel feedstocks, according to analysts
- According to The Edge Singapore, India agreed to cut or eliminate import duties on a slew of U.S. agricultural products, including soybean oil, according to a joint statement on the framework for an interim trade deal
- Energy prices have held firm this week, providing some tailwinds for the soybean oil market, due to improved renewable diesel margins, according to analysts
Canola
- The Intercontinental Exchange spot canola seed futures were higher this week, continuing to follow the lead of the soybean complex
- Statistics Canada reported that their end-of-December all-canola stocks were 15.623 million metric tons, in line with pre-report trade estimates, but up sharply from 13.225 million a year ago
- Canola oil basis offers through Q3 remained firm this week, as reported by cash dealers
Palm
- The palm oil market was lower this week, further discounting itself to the soybean oil market on the global cash markets
- The Malaysian Palm Oil Board reported that their end-of-January palm oil stocks were 2.815 million metric tons, down 7.7% from 3.051 million in December, but still up significantly from 1.580 million in January 2025, and the highest total for the month in seven years
Mayo & Margarine
- The CME soybean oil market and the USDA butter market were higher this week, while palm oil prices on the Kuala Lumpur Commodity Exchange were lower
Commodity Trends at Your Fingertips: Dive into the Farmer's Report
The data contained in the Farmer’s Report is provided for informational purposes only, is not tailored to your specific purchasing needs, and is not intended as a substitute for any other publicly-available market data or information. The Farmer’s Report is compiled from the last-received market data provided by the United States Department of Agriculture (USDA) and/or other market sources, and is subject to change without notice. Nothing herein is the opinion of US Foods®. US Foods neither assumes any legal liability nor makes any warranty or guaranty, either express or implied, regarding the completeness, accuracy or usefulness of this information.