Record Soybean Crush Boosts Oil Demand
USDA forecasts record soybean crush driven by strong biofuel demand, lifting soybean oil consumption. The surge in crush volumes signals higher demand for soybean oil, likely supporting price strength.
Soybean Oil Price Trend Analysis 2026: Latest News, Supply Demand Analysis, Market Insights, Historical Prices & Price Drivers
Written ByPragati Agarwal
Soybean Oil Latest Development
EU Oilseed Imports Set to Rise
EU oilseed production falls 1% amid heat and drought, prompting a 7% increase in imports for 2026/27. Lower domestic harvests of rapeseed and sunflower tighten supply, while higher crushing volumes support processing demand, likely pushing oilseed prices upward.
Soybean Oil Latest Prices August 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Soybean Oil | USA | FOB | USD 1,784.97/MT | August 2026 |
| Soybean Oil | Argentina | FOB | USD 1,153.75/MT | August 2026 |
| Soybean Oil | Spain | FOB | USD 1,551.39/MT | August 2026 |
| Soybean Oil | China | FOB | USD 1,289.63/MT | August 2026 |
| Soybean Oil | India | FOB | USD 1,467.40/MT | August 2026 |
| Soybean Oil | USA | FOB | USD 1,806.83/MT | July 2026 |
| Soybean Oil | Argentina | FOB | USD 975.22/MT | July 2026 |
| Soybean Oil | Spain | FOB | USD 1,491.82/MT | July 2026 |
| Soybean Oil | China | FOB | USD 1,268.58/MT | July 2026 |
| Soybean Oil | India | FOB | USD 1,438.63/MT | July 2026 |
Stay updated with the latest Soybean Oil prices, historical data, and tailored regional analysis
Soybean Oil Price Trend Q3 2026
- Soybean Oil markets remained broadly rangebound in Q3’26 as strong biofuel demand was balanced by ample soybean availability, expanding crush capacity, and competing vegetable-oil supplies.
- Larger soybean production improved feedstock availability, while strong export demand and renewable-fuel requirements continued supporting the underlying soybean complex.
- Biofuel blending remained a major demand driver, alongside food and edible-oil applications, but imported feedstocks limited the impact of stronger US mandate demand.
Asia
In China, average Soybean Oil prices were around USD 1,268.58/MT (FOB) in July 2026, while India recorded USD 1,438.63/MT FOB. Asian markets faced mixed fundamentals as ample soybean availability and vegetable-oil supplies limited upside pressure, while soybean oil retained support from its role in food processing and edible-oil applications. In China, soybean oil also benefited from substitution against palm oil when relative pricing favoured soy-based formulations. However, weaker large-scale restocking and elevated vegetable-oil availability restricted stronger buying interest. Expectations of Indonesia’s expanded biodiesel mandate provided a medium-term supportive factor for the broader vegetable-oil complex.
Europe
In Spain, monthly average Soybean Oil prices were about USD 1,491.82/MT (FOB) in July 2026. European demand remained influenced by competition from rapeseed and sunflower oil, particularly across food and biodiesel applications. The European Commission projected combined EU production of rapeseed, sunflower and soybean oils at around 16.55 million tonnes for 2026/27, indicating substantial regional vegetable-oil availability. This limited the scope for soybean oil to gain significantly against competing oils. Meanwhile, upcoming EU deforestation-compliance requirements for soy and palm increased the importance of traceability and sourcing costs for imported vegetable oils.
North America
In the USA, prices Soybean Oil averaged approx. USD 1,806.83/MT (FOB) in July 2026. The market strengthened early in Q3’26 as biodiesel and renewable diesel demand pushed soybean oil to a multi-year high, before becoming rangebound as supply expanded. USDA forecast soybean oil use for biofuel production at 17.8 billion pounds in 2026/27, reflecting stronger Renewable Fuel Standard requirements. However, higher soybean crushing and imported feedstocks increased availability and limited the impact of biofuel demand on domestic supply. Argentina, another major export origin, recorded USD 975.22/MT FOB in July, reinforcing the importance of global supply competition.
Analyst Insight
According to Procurement Resource, Soybean Oil markets are likely to remain rangebound, with biofuel demand supporting consumption while ample feedstock availability and competing vegetable oils constrain further gains.
Related Report
Need Latest Soybean Oil Prices?
Get real-time price assessments, periodic trends, forecasts and price driver insights across key global markets.
Our Clients
Procurement Resource Database
Turn price intelligence into action with the Procurement Resource Database. Log in or subscribe to unlock live price trends, historical charts, supplier databases, cost curves, and analyst-backed insights across chemicals, agriculture, energy, packaging, and more. Use these tools to benchmark your contracts, plan budgets with confidence, and stay ahead of market moves on every product you buy.
0
+Products
0
+Regions
0
+Subscriptions
- Soybean oil prices showed mixed movements in Q2’26 as strong supply from elevated crushing activity weighed on markets, while robust biofuel demand provided upward support.
- Feedstock availability remained comfortable as soybean crushing stayed high, increasing overall supply levels and adding pressure in markets where inventories continued to expand.
- Downstream demand was led by biofuel consumption, while food-service and industrial sectors remained relatively weak, limiting broader support for soybean oil price growth.
Asia
In China, monthly average Soybean Oil prices were ~RMB 8.64/kg in the first two months of Q2’26. In India, monthly average Soybean Oil prices were ~INR 146.83/kg in April and ~INR 147.72/kg in May, showing a marginal increase. China’s market stayed under pressure as high soybean crushing increased domestic soybean oil supply faster than demand. Commercial soybean oil stocks rose from 880,000 tons in late May to about 1.2 MMT by mid-June, reducing buying urgency. Food processing and catering demand also remained slow, keeping end-users focused on immediate needs. India stayed slightly firmer as import dependence and steady edible oil consumption supported prices, but the wider Asian tone was capped by China’s inventory build and ample soybean arrivals.
Europe
In Spain, Soybean Oil prices were ~EUR 1.51/kg in April and ~EUR 1.33/kg in the subsequent month, showing a ~12.3% decrease. The decline was mainly driven by weaker industrial use and reduced biofuel pull. European soybean oil demand faced pressure as biofuel producers shifted toward alternative oils, waste oils, and residue-based feedstocks. Policy-related costs also made soybean-based biofuel less attractive, adding pressure on demand. With more soybean oil moving toward external markets instead of being absorbed locally, Spanish prices corrected sharply during Q2.
North America
In the United States, Soybean Oil prices were ~USD 1,624.00/MT in April and ~USD 1,775.00/MT in the following month, showing a ~9.3% increase. The rise was driven by firm domestic absorption and tighter nearby supply. Biofuel demand remained the strongest support, with soybean oil use for biofuels above 1.2 billion lb in April. At the same time, May crush slowed during maintenance, and soybean oil inventories fell 12.0% from April to the lowest level in five months. Weak export sales limited the upside, but domestic biofuel demand kept the market firm.
About Soybean Oil
Soybean or better known as the soya bean is a species of legume native to East Asia. It is extensively grown for its edible bean, that comes with several benefits. The conventional unfermented food uses of soybeans include soy milk, from which tofu and tofu skin are prepared or can be produced or prepared. Fermented soy foods include soy sauce, fermented bean paste, natto, and tempeh.
Soybean Oil Product Detail
Industrial Uses
Vegetable oil, Biodiesel, Condiment for salads, Printing ink and oil paint formulations, Fixative
Supplier Database
Bunge Limited, The Archer Daniels Midland Company, Cargill, Incorporated, Adams Group, CHS Inc., Grain Millers Inc
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Soybean Oil Production Processes
- Production of Soybean Oil from Soybeans.
In this process, first soybeans undergo cracking process and then heated at a temperature ranging between 60-88oC or 140-190 °F. These are further rolled into flakes and solvent-extracted with hexanes. The oil obtained is finally refined and blended for distinct applications, and often hydrogenated.
Frequently Asked Questions
Soybean oil prices averaged USD 1,193.67/MT in Q1 2026 compared with USD 1,185/MT in Q4 2025, reflecting a modest quarter-on-quarter increase of 0.73%. Stable edible oil demand, biofuel-related buying interest, and firm vegetable oil sentiment supported prices, although improved crushing activity helped maintain comfortable supply availability.
Soybean oil demand is expected to remain supported through 2026 by food consumption, renewable diesel demand, and industrial use. Expanding soybean crushing capacity in the U.S. and South America may improve supply availability, although biofuel policies, weather conditions, and competing vegetable oil prices could continue influencing market volatility.
Recent soybean oil market sentiment was influenced by expanding U.S. soybean crushing capacity and continued biofuel-linked demand. A new U.S. processing facility scheduled for spring 2026 was expected to add around 1.5 million metric tons of annual soy crushing capacity along with 320,000 metric tons of edible soybean oil output, improving supply expectations for food and renewable fuel markets. At the same time, stronger industrial vegetable oil consumption continued supporting global buying interest and edible oil market sentiment.
Argentina, Brazil, and the United States dominate global soybean oil production and exports due to large soybean harvests and crushing capacity. India and China are major demand centres, driven by edible oil consumption, imports, food processing, and growing industrial and biofuel-related demand.
Soybean crushing margins influence soybean oil prices by affecting processor profitability and crushing activity. Strong crush margins encourage higher soybean processing, increasing soybean oil and soybean meal supply availability. Higher crushing rates can limit upward pressure on soybean oil prices, while weaker margins may reduce processing activity and tighten edible oil supply.
Biodiesel demand supports soybean oil prices by diverting part of vegetable oil supply into industrial fuel use. Higher biofuel consumption encourages soybean crushing and can tighten edible oil availability, especially when food demand remains steady and competing oils also remain firm.
Soybean oil demand is mainly driven by edible oil, food processing, biodiesel, renewable diesel, oleochemicals, and industrial applications. Food use remains the core demand base, while biofuel and industrial use have become major price-supporting factors in global vegetable oil markets.
India-U.S. trade discussions affected soybean oil market sentiment amid reports of possible tariff concessions on U.S. soybean oil and DDGS imports. While DDGS concessions were capped at 5 lakh tonnes, uncertainty around potential soybean oil access kept buyers attentive to the risk of competitively priced U.S. supplies entering the Indian market.
Procurement Resource employs a structured methodology combining primary research, secondary market data, analytical models, and validation processes to assess soybean oil prices and trends. Price evaluations incorporate supply-demand dynamics, feedstock movements, trade flows, and value chain analysis, supported by continuous market monitoring to ensure accurate and reliable insights.
Soybean oil prices in India showed a slightly firm trend in Q1 2026, rising 0.76% from January to March. Prices increased in February before easing marginally in March. The market remained supported by edible oil demand, biofuel-linked sentiment, and broader vegetable oil price movement.
Our Price Analysis Methodology
About the Author
Pragati Agarwal
Senior Business Insights Analyst
Delivering price trend analysis and procurement market insights at Procurement Resource, with expertise in identifying commodity patterns, supporting purchasing strategies, and improving cost efficiency through actionable market intelligence.
Schedule A Demo
Experience how Procurement Resource transforms raw material price data into clear, decision ready intelligence. Optimise your performance with reliable, expert market data and analysis. Schedule your demo today to experience a live walk-through where our experts will showcase interactive price charts, forecasted prices, and insights driving the prices for your key commodities, tailored to your workflows. Contact us now!
Our Team will be happy to assist you
We are just a text away
Still Need Help?
Other Related Reports
Xanthan Gum Production from Fermentation
This report provides the cost structure of xanthan gum production by the fermentation method. In this process, a well-aerated medium containing carbohydrate, a nitrogen source, dipotassium phosphate, and other trace elements is inoculated with Xanthomonas campestris.
Fatty Acid - C14 Manufacturing Plant Project Report 2026: Cost Analysis, ROI, and Feasibility Insights
Fatty Acid - C14 Manufacturing Plant Project Report thoroughly focuses on every detail that encompasses the cost of manufacturing. Our extensive cost model meticulously covers breaking down expenses around raw materials, labour, technology, and manufacturing expenses. This enables precise cost structure optimization and helps in identifying effective strategies to reduce the overall cash cost of manufacturing.
Unlock full access to Procurement Resource's price databases, interactive charts, and short-term forecasts for thousands of commodities. Elevate your sourcing decisions by comparing prices across regions, downloading historical data, and layering in analyst-backed insights, all with our flexible plans that scale as your portfolio grows.
Still have any Questions
Contact Us
Price Trend Dashboard - What's Included
Price trends across a diverse portfolio of categories and products, spanning board to niche chemicals
Coverage extendable to grade-specific chemicals based on procurement requirements
Regular price tracking supported by robust historical datasets
News, policy updates, and key market drivers impacting price movements
Short-term and long-term price outlooks and forecasts
Supply–demand dynamics and capacity-driven market analysis
Related News
View All
Why Procurement Database
Commodity Market Intelligence
Track prices, market movements, supply-demand dynamics, and industry developments across hundreds of commodities through a centralized intelligence platform built for informed procurement decisions.
Price Forecasts & Market Outlooks
Understand market fluctuations using analyst-backed forecasts, historical pricing patterns, and evolving industry trends to strengthen sourcing strategies and budget planning.
Cost & Procurement Optimization
Leverage cost models, pricing benchmarks, and procurement insights to evaluate purchasing opportunities, improve negotiations, and enhance operational efficiency.
Global & Regional Market Insights
Access region-specific price trends, trade activities, capacity changes, and supply chain developments influencing commodity markets worldwide.
1/4