Soybean Oil
- CME soybean oil futures were higher through Wednesday, compared to Wednesday of the prior week
- In its weekly crop update, the USDA reported that domestic soybean planting is 49% complete, up from 33% the previous week and above the five-year average of 36%. Beans continue to go into the ground at a record pace so far this season, according to analysts
- In its World Agricultural Supply and Demand Estimates report released May 12, the USDA’s estimate for 2026/2027 soybean ending stocks came in below trade expectations, due primarily to larger demand for domestic crush. The U.S. soybean crush for 2026-2027 was projected at 2.750 billion bushels, up 120 million from the 2025-2026 forecast, due to favorable crush margins and strong demand for soybean oil as a biofuel feedstock
- Firm energy prices continue to support the vegetable oil markets, according to analysts
Canola
- The Intercontinental Exchange spot canola seed futures were higher this week, following the lead of the soybean oil market
- According to AgUpdate, canola crush margins are at record levels, with the oil share of canola crush hitting record levels of over 75 percent, and biofuel production margins have also increased significantly
- Canola oil basis offers remained firm through Q3 this week, as the U.S. biofuel program continues to support imports, as reported by cash dealers
Palm Oil
- Palm oil prices on the Kuala Lumpur Commodity Exchange were lower this week, despite continued strength in the soybean oil market
- The seasonal trend of higher palm oil production between April and November in both Indonesia and Malaysia is in full swing, helping to temper prices, according to analysts
- According to The Edge Malaysia, Malaysia’s palm oil stocks rose 1.71% to 2.30 million tons in April 2026
Mayo & Margarine
- The CME soybean oil market was higher this week, while palm oil prices on the Kuala Lumpur Commodity Exchange and the USDA butter market were steady